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Companies are having their best earnings season in nearly 2 years (finance.yahoo.com)

submitted 6 months ago by [email protected] to c/money

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Net profit margins are pacing for 11.7% growth in the first quarter, above the five-year average of 11.5% growth and higher than the same period a year ago, per FactSet.

Largely, this has been driven by cost-cutting, not rising revenues. In 2023, investors cheered Big Tech's cost-cutting efforts that led to significant earnings growth. In 2024, companies outside the tech sector have tapped a similar playbook, setting up the rest of the index for earnings growth through the rest of the year.

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[–] lettruthout 10 points 6 months ago (2 children)

They’re going to share those good earnings with their employees, right?

[–] IamLost 11 points 6 months ago* (last edited 6 months ago)

No, silly, they must layoff 10% of their employees so the CEO can get a huge bonus.

Edit: Seriously, the "cost cutting" is literally layoffs

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