Watching the financial reports of various companies over the past few days has brought to my attention some startling numbers – to wit:
- Amazon.com reported quarterly revenues up 14%
- Apple reporting quarterly revenues UP 12% – amazingly good!
- PayPal reported 11% revenue growth on a 12% increase in payment volume
- The New York Times Company reporting advertising revenues OFF 32% – a very big, ugly number!
- Microsoft reporting its first ever annual DECLINE in revenue – capped by a 17% decline in quarterly revenues year over year – UGLY indeed.
Our economic struggles continue – a quick look at the monthly charts of National Economic Indicators prepared by the Federal Reserve Bank of Richmond confirms. Recommendation: Best viewed with a strong drink in hand!