Here's a Reality Check on FAANG Stock Profits [TheStreet.com]
Meta Platforms, Inc. - Class A (FB)
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm
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US:NASDAQ Investor Relations:
investor.fb.com/home/default.aspx
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Source: TheStreet.com
Question the bottom lines. Since the 1980's, investors have focused on companies beating operating earnings per share (EPS) consensus estimates. Earnings announcements continue to feed the insatiable 24/7 financial news cycle. In the early 1990's, slightly over 50% of S&P 500 companies beat EPS consensus forecasts. Over time, this number has steadily risen to where in the second quarter of this year, over 85% of companies have topped forecasts. Due to the discretion inherent in income and balance sheet statements, CEOs have a host of tools to paint an opinion of corporate profitability. They can manage their earnings numbers up to make business look stronger, or they can manage numbers down to squirrel away earnings for a rainy day. While there is quite a bit of discretion in GAAP earnings, operating EPS - the measuring stick for Wall Street analysts - have even more. In January of 2016, the Financial Analysts Journal published research called T
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