Two promising anecdotes from Wall Street this week: The economy is growing again. And for the third quarter, two-thirds of publicly held companies have delivered earnings that beat Wall Street's expectations, according to WCBS Radio in New York. Here are some quick observations for managed service providers.
According to BBC:
The US economy grew at an annualized rate of 3.5% between July and September, its first expansion in more than a year, official data has shown.Still, multiple news agencies note that economic growth could slow since popular stimulus programs (such as the Cash for Clunkers car buyer program) have ended. Also, Wall Street's earnings expectations were quite conservative for Q3, so it's not shocking that two-thirds of companies are beating those conservative expectations.
MSP Reality CheckGenerally speaking, MSPs are telling me that Q3 2009 went reasonably well and was far stronger than Q1 2009. I'd estimate that 20 to 30 percent of MSPs are witnessing dramatic growth; 50 percent are holding the line; and 20 to 30 percent are really struggling. Those percentages aren't based on science (sorry folks), but instead are based on my own conversations at a range of conferences in recent months.
I hope to keep my finger on the economic pulse during next week's HTG Peer Group and ConnectWise Partner Summit conferences in Orlando.
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