Earnings season: high hurdles & harsh critics

The NZX reporting season was clouded by many negative factors. (Image: Supplied)

Thu, 02 Jun 2022

Most stocks fell during the May earnings season, which occurred in the context of rising interest rates, a growing risk of recession, and escalating inflation driving up costs. It was not a backdrop that left investors looking charitably at softer results which promised growth in future without delivering in the here-and-now.When interest rates were low and economic conditions looked more promising, investors were very willing to ‘look through’ a weaker period and focus on big opportunities ahead. Now that the cost of capi...

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