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Profitable growth, not quarterly earnings, is the best way to assure the creation of long-term value for shareholders.
It’s a familiar story on the business pages: a company reports quarterly earnings below Wall Street expectations, and its stock is hammered. Whether it’s a high-tech stalwart like Intel or a mature company with respected household brands like Procter & Gamble, the results are the same: the stock price plunges. Sometimes, it’s a brief market correction; other times, it takes months or much longer for the stock to recover.
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