Study: Earnings surprises are bigger, thanks to growing use of non-GAAP metrics
August 10, 2018 at 09:55 AM EDT
Professors Paul A. Griffin of the University of California at Davis and David H. Lont of University of Otago in New Zealand found that the proportion of reported earnings among the S&P 500 that were between 5 to 15 cents per share above analyst forecasts had doubled over a 17-year period.