According to Standard & Poor's, first quarter operating earnings are up 8.77% when excluding the 95 financial issues in the index. With the financial issues included though, operating earnings are down 25.89%. This preliminary data is after approximately 95% of the S&P 500 companies have reported earnings.
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The year over year operating earnings changes are detailed below.
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Excluding financials and consumer discretionary stocks, the YOY operating earnings change is fairly respectable.Source:
S&P 500 Q1 Earnings Down 25.9%;
Financials Again Posts Negative Earnings (pdf)
Standard & Poor's
By: David R. Guarino & Howard Silverblatt
http://www2.standardandpoors.com/spf/pdf/index/2008Q1_earnings.pdf
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