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The subscription churn was lower, Ms. Martin said, which "really says the deterioration is slowing, it will hold up earnings longer".
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God bless accountants, but there have been so many changes to accounting rules that earnings no longer track performance.
The McKinsey Global Institute reckons that the lifetime value of a college graduate's improved earnings no longer justifies the expense required to obtain the degree.
But there is an ethical way to wield leverage, as we stridently remind professional athletes when they complain their earnings no longer support their standard of living.
Some ho-hum companies, including those involved in consumer staples and health care, have been much more consistent in their earnings over longer periods and are likely to be the better performers as the economic recovery wears on.
Theoretically, we cannot observe a difference in earnings over longer periods (e.g. ten years), without observing changes in earnings between short periods (e.g. two years).
They are the stuff of magicians spinning illusions, because earnings no longer necessarily represent the fundamentals of the business that are important for long-term, smart growth.
In summary, risks of CD mortality may be higher for short-term migrants due to disruption and exposure, whereas for NCD mortality, the relationship to migration is driven more by the positive relation of the earnings of longer duration migrants making them less likely to succumb to a fatal illness.
Firms that issued cash-settled convertible debt to avoid earnings dilution no longer have an incentive to keep them on their balance sheets.
Rapidly rising college tuitions may be turning off teenagers, since a summer's earnings will no longer make much of a dent in expenses.
We expect weak productivity to constrain nominal earnings growth for longer, with a slower fall in inflation delaying the pick-up in real incomes.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com