Bottom of the 9th Q1 2009 Earnings Report

With 90% of market value having already reported their earnings for Q1 2009 I put together a report showing charts of the earnings and P/E ratios.

• 161 issues beat est, but only 69 beat last years earnings
• 248 missed with 63 beating last years EPS

Overall the reactions to earnings have been as though companies have been “knocking the cover off the ball” and the classic line of “better than expected” has been beat to death.

For those of you thinking that the market is cheap at this point you may be in for a surprise… especially considering the unprecedented free money that was thrown into the banks pockets.

What are your thoughts on the earnings? Especially the past 2 quarters. Since last quarter (Q4 2008) was so unbelievably bad are any of you considering throwing it out of your calculations and marking it as an outlying fluke?

Below is the report in pdf.  Click on the picture below.

Q1 2009 Earnings Report