Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Businessweek Archives

We've Only Just Begun

Download file

see file for details

Bottom line beating and showing progress but top line growing very slowly – gain over devastating Q4,’08 not impressive2009 sales estimated to decline 13.6% over 2008, or $1.14 trillion - that is 40% more than the current Health Care legislation

Sales reported for current issues are up 9.8% over Q4,’08 and 5.3% ahead of estimates, but ex/Financials they are up 0.7% up from Q4,’08 and 2.1% ahead of estimates

Forward growth (sales) dependant on spending ->dependant on economy (jobs)

Q4 estimates (77% left) increasing, 2010 estimates only slightly up (but optimistic to begin with)

For Q4 IT has displaced Health Care as the largest earnings contributor -> 20.2% vs. 16.0%; ’10 Energy estimates increasing

Margins coming in high (again) at 6.9%, estimate 7.2%; cutting our way to the bottom

Be careful with stats – Q4,’08 negatives, index membership and weight changes, M&A, proformas,…

P.S. – note GE’s tax credit: it paid $1.05B in ’08 and got a benefit of $1.09B in ’09 (via Financial Services unit’s $3.83B benefit: turned a loss into a profit)

blog comments powered by Disqus