Don’t tell Macy’s or Snap shareholders how great the first- quarter earnings season is.
They don’t want to hear it.
Sure, overall profits for the Standard & Poor’s 500 stock index are on pace to grow nearly 15% in the January-March quarter — the best numbers since the third quarter of 2011, earnings-tracker Thomson Reuters says.
The problem is that’s the average. And it masks the pain suffered by investors who own stock in companies that post earnings results that are worse than Wall Street was expecting.
