Tech booming, drinks flowing, banks throwing caution to the wind. This earnings season has shown many companies are partying like it’s 2019, with stellar results from the likes of Google and Microsoft, a surge in booze sales from spirits groups and sharp cuts to bad debt buffers among lenders from Barclays to Bank of America.
Even airlines and travel operators are optimistic that the worst of the pandemic is behind us. Overall earnings in theare up 90 per cent in the second quarter from a year earlier and almost 20 per cent ahead of analysts’ forecasts, according to FactSet data. There is one afflicted sector that is desperately trying to join in. But its dance moves are rather unconvincing.began his remarks by noting that all of the landlord’s “employees returned to the office on July 6th”. On a call that featured the O-word 47 times, more than any company this earnings season according to data from S&P Global Intelligence, he ended by repeating that his entire team was “back in the office”.
There is a well-known rule from a different sector that you shouldn’t get high on your own supply. Most companies adhere to it. At its earnings call this week, for example,