S&P500 Q3 2015 earnings are 88% done as of the S&P posting on Nov 5th.  It shows:

  • As reported earnings (aka real world, not earnings before bad stuff) trailing 12mo are down 15%.  Ouch!
  • As reported earnings are down for the 4th quarter in a row.
  • Revenue is down 3.2% year on year.

As crappy is this is, it would be worse without the buyback gravytrain.