Lousy ASX profit season says it all about Australia

Friday, 23 February 2018

Via UBS:

Good Results but Still Lagging the Global Earnings Boom

So far just over 130 members of the ASX200 have reported earnings (of around 170 due to report) making reporting season around 80% complete. Reporting season has, as always, been mixed, but overall quite decent with FY18 and FY19 estimates basically holding, which is a bit better than the Australian norm. While marginally better than “normal”, Australian earnings continue to lag the global uptrend, in terms of both the rate of earnings growth and the rate of earnings revisions (both very positive globally).

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.