, Columnist
This Bullish Earnings Spin Shouldn't Be Dismissed
While executives have an incentive to talk up their results, the strength of their language amid a pandemic is notable.
Wake up and smell the recovery.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
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The third-quarter earnings season was one of the least exciting and impactful in recent corporate history, even though it broke records. Measured by companies’ success in beating expectations that they have largely set for themselves, it tied for the best quarter since FactSet started tracking the metric in 2008. With 92% of S&P 500 companies having reported, a full 84% posted earnings per share that beat estimates. Congratulations to their investor relations departments.