Where’s the revenue? What Stimulus?

financeFinally, a few observers are beginning to get it … that increased reported profits are the result of cost reduction but mask the continuing decline in revenue, which is critical to job creation.
Almost 75% of S&P companies have reported quarterly results exceeding analyst estimates but top line results are slow to rebound. Corporate revenue fell 20% in Q209 after 14% drop in Q408 and 17% in Q109. On a dollar basis, for the 12 months ending June 30, 2009, revenue of S&P companies fell more than $1.15 Trillion – WELL IN EXCESS OF FEDERAL STIMULUS PACKAGE!
Historically, sales seem to hit bottom about 9 months after a recession ends, suggesting no real revenue rebound until mid-2010.

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