The Australian stock market has surged over the last two weeks with the S&P/ASX 200 Index (Index:^AXJO) (ASX: XJO) climbing an astonishing 7% from a low of 5,052.2 points to 5,410 points today after a rather dismal start to the year.
The gains recognised can partially be attributed to the RBA's decision to leave interest rates on hold (increasing business and consumer confidence as a result), as well as continued improvement from global markets and the strong earnings results released by some of Australia's largest companies have also done wonders for investor sentiment.
Here are some of the best results to emerge from the market so far this reporting season:
- Commonwealth Bank of Australia (ASX: CBA): You can't look past the monstrous $4.3 billion profit that the bank announced for its half year. Analysts had been expecting just $4.1 billion.
- Rival Australia and New Zealand Banking Group (ASX: ANZ): also delivered an impressive first-quarter review, which revealed an unaudited cash profit of $1.73 billion, up 13% from the same period last year.
- Telstra Corporation Ltd (ASX: TLS): The telecommunications giant continued its impressive streak, announcing a 9.7% increase in net profit to $1.7 billion for its first half. The company also announced a 739,000 increase in mobile customer numbers.
- BHP Billiton Limited (ASX: BHP): The "Big Australian" beat analysts' profit forecasts by nearly $1 billion when it reported yesterday. A profit of US$7.76 billion was reported while net debt also fell almost $2 billion.
- Rio Tinto Limited (ASX: RIO): Australia's second largest iron ore miner turned a $3 billion loss in 2012 to a $3.7 billion profit for last year.
- Domino's Pizza Enterprises Ltd (ASX: DMP): Strong growth in online sales and in Japan saw NPAT gain 38.8% on the prior corresponding period. The company will also continue to rollout new stores around the globe. Just how far will the company go?
- SEEK Limited (ASX: SEK): The online employment classifieds website owner today announced a 38% increase in revenue and a 29% jump in earnings per share (EPS) to 25.8c, driven largely by growth in SEEK International.
- Carsales.com Limited (ASX: CRZ): Shares soared 19.7% last week after the company reported a 17% increase in its NPAT for its half year.
Foolish takeaway
While the reporting season is well underway, there are still some big names yet to release their results including QBE Insurance Group Ltd (ASX: QBE) and Origin Energy Limited (ASX: ORG).
