Friday, February 1, 2019

Washington State's Technology Cos Bucked the Negative Trend and Posted Fantastic Accelerating Total Pretax Earnings Growth in the First Three Quarters of 2018 ..... But Now Comes the Fourth Quarter of 2018 Where There Will Be Substantial Total Earnings Growth Deceleration

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Microsoft and Amazon Comprised 95% of the Total Pretax Earnings in the Third Quarter of 2018 of All 13 Washington State Tech Cos With Stock Market Caps Above $1 Bil 
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These 13 Washington State Technology Cos Total Pretax Income Grew By an Exceptional 31% in the First Quarter of 2018 Over the First Quarter of 2017
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These Same 13 Washington State Technology Cos Total Pretax Income Grew By an Off-the-Charts 53% in the Second Quarter of 2018 Over the Second Quarter of 2017
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These Same 13 Washington State Technology Cos Total Pretax Income Grew By a Even More Off-the-Charts 62% in the Third Quarter of 2018 Over the Third Quarter of 2017
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But the World Economy is Slowing Down.  Also, in the Most Recent Two Years, There Has Been a Continued and Even Accelerating Diminished Status of the US in Many Parts of the World, Including in India.  Thus, These Same 13 Washington State Technology Cos Will Post Huge Total Pretax Income Growth Deceleration in the Current Fourth Quarter of 2018 vs the Fourth Quarter of 2017
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The Early Fourth Quarter 2018 Results Are Now in For the Big Two Washington State Techs: Microsoft and Amazon
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The Giant Microsoft Posted Fourth Quarter of 2018 Pretax Earnings Growth of 13%, Much Lower Than That in the Third Quarter of 2018 of 28%.  
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And Amazon Posted Pretax Earnings Growth of 79% in the Fourth Quarter of 2018, Substantially Lower Than That in Third Quarter of 2018 of a Completely Off-the-Charts 980%.
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From a review of company SEC filings and of MSN Money individual company common stock information, I found 13 Washington State Technology Companies with stock market caps sometime in 2018 of more than $1 Bil.
My Focus is on Pretax Income rather than on After-Tax Net Income because Corporate Income Taxes are simply a transfer of financial wealth between US Corporations and the US Federal, US State and Foreign Governments.  It has nothing whatsoever to do with Company Operating Performance.

From a review of US SEC filings, the chart below shows the Gold-Standard US GAAP Pretax Income (Loss) From Continuing Operations for the Calendar September 2018 and 2017 Quarter Ends (September, October and November), for the Calendar June 2018 and 2017 Quarter Ends (June, July and August) and for the Calendar March 2018 and 2017 Quarter Ends (March, April and May) for the 13 Washington State Technology Companies which had stock markets caps of above $1 Bil sometime in 2018.
US US US US US US
GAAP GAAP GAAP GAAP GAAP GAAP
Pretax Pretax Pretax Pretax Pretax Pretax
Income Income Income Income Income Income
(Loss) (Loss) (Loss) (Loss) (Loss) (Loss)
Most Sept Sept June June Mar Mar
Recent Oct Oct July July Apr Apr
Audited or Nov or Nov Better or Aug or Aug Better or May or May Better
FYE 2018 2017 (Worse) 2018 2017 (Worse) 2018 2017 (Worse)
Washington State Technology Cos Fincl Quarter Quarter % Quarter Quarter % Quarter Quarter %
Stock Market Caps Above $1 Bil Sts End End  Change End End  Change End End  Change
mils $ mils $ mils $ mils $ mils $ mils $
Microsoft June 18       10,221         7,984 28%     10,680       7,958 34%       8,641       7,094 22%
Amazon.com Dec 17         3,391            314 980%       2,608          664 293%       1,916          953 101%
Expedia Dec 17            612            415 47%          (14)            57 -125%        (169)        (131) NM
F5 Networks Sep 18            159            154 3%          154          142 8%          146          140 4%
Monolithic Power Systems Dec 17              36              25            27            16            22            15
nLight Dec 17                5                3              6              1              4             -  
Redfin Dec 17                3              11              3              4          (36)          (28)
Apptio Dec 17               (4)               (4)            (5)            (7)            (8)            (7)
Tableau Software Dec 17             (11)             (45)          (14)          (41)          (49)          (52)
Zillow Group Dec 17             (15)                9          (14)          (22)          (16)            (5)
Smartsheet Jan 18             (16)             (10)          (12)          (23)          (14)            (7)
Cray Inc Dec 17             (22)             (17)          (11)          (10)          (25)          (30)
Avalara Dec 17             (24)             (10)          (18)          (16)          (16)          (16)
Total all 13 Washington State Tech Cos       14,335         8,829 62%     13,389       8,723 53%     10,396       7,926 31%




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