Largest Washington State Companies Total Operating Income Increased By 24% in the 1Q of 2019 and Then Reversed Course and Showed an 8% Decline in the Next Three Quarters of 2019 Combined. There Will Be Much More Severe Pressure on Operating Income in the Year 2020 Due To the Sharply Negative Economic Impact of the Coronavirus.

On the positive side, Microsoft  reported very high Operating Income growth which accelerated in the three most recent quarters ..... up 20% in the 2Q of 2019, up 27% in the 3Q of 2019 and up 35% in the 4Q of 2019.

Amazon reported a blistering Operating Income growth of 129% in the 1Q of 2019.  Then this exceptionally high earnings growth completely fell off the cliff with the next three quarters of 2019 combined experiencing a 4% decline.

The 11 Washington State largest companies other than Microsoft and Amazon were a complete disaster in 2019, suffering Operating Income declines in all four quarters of 2019, with the most recent 4Q of 2019 down by an extremely steep 68% and the 2Q of 2019 down by even steeper 72%.  Boeing was the main contributor to these horrible results.

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There were 13 Washington State Companies with stock market caps above $10 bil recently.  

From a review of SEC filings, below are the Gold-Standard US GAAP Pretax Operating Income (Loss) From Continuing Operations for these 13 largest Washington State Companies in each of the four quarters of both 2019 and 2018.

Paccar didn't disclose its Operating Income and thus I used its Pretax Income below.

		US	US			US	US			US	US			US	US
		GAAP	GAAP			GAAP	GAAP			GAAP	GAAP			GAAP	GAAP
		Pretax	Pretax			Pretax	Pretax			Pretax	Pretax			Pretax	Pretax
		Operating	Operating			Operating	Operating			Operating	Operating			Operating	Operating
		Income	Income			Income	Income			Income	Income			Income	Income
		(Loss)	(Loss)			(Loss)	(Loss)			(Loss)	(Loss)			(Loss)	(Loss)
	Washington	Dec	Dec			Sept	Sept			June	June			March	March
Washington State Largest Companies	State	Quarter	Quarter			Quarter	Quarter			Quarter	Quarter			Quarter	Quarter
Market Caps Above $10 Bil	City HQs	2019	2018			2019	2018			2019	2018			2019	2018
		mils $	mils $			mils $	mils $			mils $	mils $			mils $	mils $
Microsoft	Redmond	13,891	10,258			12,686	9,955			12,405	10,379			10,341	8,292
….. % Change From Prior Year Quarter		35%				27%				20%				25%
Amazon.com	Seattle	3,879	3,786			3,157	3,724			3,084	2,983			4,420	1,927
….. % Change From Prior Year Quarter		2%				-15%				3%				129%
Boeing	Seattle	(2,204)	4,175			1,259	2,227			(3,380)	2,710			2,350	2,875
Costco	Issaquah	1,266	1,203			1,061	949			1,463	1,446			1,122	1,067
Starbucks	Seattle	1,220	1,016			1,083	957			1,121	1,038			858	773
T-Mobile US	Bellevue	1,234	1,137			1,471	1,440			1,541	1,450			1,476	1,282
Fortive Corp	Everett	295	295			242	282			250	324			217	278
Paccar	Bellevue	688	752			778	669			814	720			819	669
Weyerhaeuser	Seattle	89	177			202	337			186	476			174	404
Seattle Genetics	Bothell	(38)	(90)			(90)	(46)			(39)	(30)			(54)	(94)
Expedia Group	Seattle	160	96			609	672			265	111			(131)	(165)
Expeditors Intl Washington	Seattle	180	217			207	203			192	184			188	193
Zillow Group	Seattle	(74)	(98)			(48)	(10)			(63)	(10)			(63)	(11)
All But Microsoft and Amazon		2,816	8,880			6,774	7,680			2,350	8,419			6,956	7,271
….. % Change From Prior Year Quarter		-68%				-12%				-72%				-4%
Total all 13 Largest Washington State Cos		20,586	22,924			22,617	21,359			17,839	21,781			21,717	17,490
….. % Change From Prior Year Quarter		-10%				6%				-18%				24%
Total Operating Income all 13 Cos
….. Nine Months Ended December 2019		61,042
….. Nine Months Ended December 2018		66,064
………. % Decline		-8%
Amazon Total Operating Income
….. Nine Months Ended December 2019		10,120
….. Nine Months Ended December 2018		10,493
………. % Decline		-4%