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MARK AUSTIN THOMAS: The 3rd Quarter earnings season is just about over. We asked Alisa Roth to take a look at the earning reports and what they say about the 4th Quarter.
ALISA ROTH: It’s been a good quarter to be an energy company.
Together, five of the world’s biggest oil firms earned more than $30 billion. Exxon Mobil alone raked in nearly $10.5 billion.
And energy companies aren’t the only ones in the money.
AG Edwards market strategist Al Goldman says earnings overall will be almost 25 percent higher than they were during the same period last year.
Oil and commodity prices are already falling, though. And Goldman says it may be hard for companies to keep up their stellar earnings next quarter.
AL GOLDMAN: Well they’re not going to drop substantially. What’s going to happen is the rate of growth is going to come down probably to 7, 8 percent earnings growth.
Goldman says that’ll depend at least in part on our holiday shopping. But he expects 3 or 4 percent growth there, too.
In New York, I’m Alisa Roth for Marketplace.
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