Estimate Management - is the current earnings season as good as it seems? (21May2023)
As of 16 May 2023, most of the S&P500 companies have announced their earnings. I have reached out to Google Bard to provide a summary. In fact, 77.1% of the companies have beaten revenue and EPS estimates compared to an average of 73.5% for the past 4 quarters and 66.3% for the long-term average. Have you heard of Estimate Management? earnings & estimates of Apple from investing Let us use Apple as an example. For the latest earnings (period ending 03/2023) release dated 04 May 2023, the forecast is 1.43 and 92.9B for its EPS and revenue respectively. Apple has beaten EPS & revenue estimates with actual results of 1.52 and 94.8B for EPS & revenue respectively. Let us look at the previous quarter (period ending 12/2022), the forecasts of EPS & Revenue are 1.94 & 121.88B respectively. If we are to compare the earnings (between the last 2 quarters), we can note a significant drop in the forecast for both EPS and revenue. This can be easily explained because t...