After a bad patch, more hits than misses in 3Q earnings
The Edge 14/12/2020 Supriya Surendran © Provided by The Edge
SURPRISINGLY, there were far more hits than misses in the financial performance of companies in the quarter ended Sept 30.
Of the 881 companies on Bursa Malaysia, 482 reported an improvement in earnings and 399, a decline.
“A big positive” was how private investor and former investment banker Ian Yoong described the quarter.
“The reality is that the recently concluded earnings season for the third quarter is way above expectations. The misses-to-beats ratio at 1.0 is the lowest for the past 10 years, according to RHB Investment Bank.
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