Subject: Re: Earnings Preview
The quarterly results are out, and the market is happy. A "beat" on every front, apparently.
Trading at fresh recent highs a little over $130 after hours.

Revenue up 7%, or 9% in constant currency versus the quarter a year ago.
Operating margin up a hair.

Though it's not the first number I usually look at, the "net cash provided by operating activities" in the quarter = $28.7 bn (before capex).
I have a hard time imagining such numbers...that new economy is doing pretty well. One quarter, more than the market cap of Allstate or Corning.

Jim