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It may seem cliche, but here’s another indication as to how American companies are doing — a pat on the back on quarterly earnings calls, if you will.According to the Wall Street Journal, the phrase ‘Great quarter, guys,’ was uttered 26 times on earnings calls between July 1st and August 15th. That’s not as much as the first quarter, which it was said 34 times, but it’s more than the 4th quarter (13 times).
None of that quite squares with results in the aggregate, since earnings growth was anemic in the second quarter, while in the fourth quarter it was still pretty good. History shows that “great quarter, guys” doesn’t get said nearly as much when fourth-quarter results are getting reported as in other earnings periods.
See, everyone needs positive reinforcement.