American corporations moved back into growth mode last quarter with better-than-expected earnings that lifted stocks sharply, Axios reports.
Leading up to the third-quarter earnings reports, analysts were focused on what they were calling an “earnings recession” from two consecutive quarters of shrinking profits.
Retailers and restaurants did much better than expected, seeing their per-share profits rise by more than 40%, according to FactSet.
Energy companies―facing tough comparisons to last year, when insanely high oil and gas prices delivered windfall profits―brought up the rear of the earnings parade. Read the full story.
