Of the 72 public companies followed by Briefing.com on Tuesday, only 9 stocks missed their earnings estimates. That follows an extremely positive market performance on Monday when only 3 of 30 firms missed their number.
Of the 59 issues that beat their estimates Tuesday, they beat them handily. Those companies provided surprise after surprise to the upside — averaging $.10 per share better earnings than consensus projections.
Of particular note, Apple (APPL) blew past analysts forecasts of only $1.17 per share. The iPhone and Mac maker, posted an extremely impressive $1.35 per share earnings or a net profit of $1.23B in Q2. Apple joined IBM (IBM) and Intel (INTC) in setting expectations for Q3 2009 GDP growth that will be anything but lackluster.
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