A few stats starting to emerge from reporting season
A few stats starting to emerge from reporting season. These figures are from AMP Capital: 60% of results to date have beaten expectations against a norm of 45%. 76% have seen profits rise from a year ago, 54% have seen their share price outperform the day results were released and 73% have increased their dividends. Earnings expectations coming into reporting season had been continually revised downward so perhaps the higher than average level of beats should be viewed in that context. Shane Oliver also notes that stronger results tend to come out early. With only 20% of companies having reported so far there is certainly room for this to revert back to more normal levels. Not surprisingly - dividends have been a key feature with 73% of companies increasing their dividends compared to the prior year.
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