NEW YORK (DailyFinance) -- There's a saying on Wall Street that you can't cut your way to growth. That may be true over the long haul, but in the short term? Not so much. Just witness the ongoing V-shaped recovery in corporate earnings, where profits are soaring, but sales are not.The fourth-quarter earnings reporting season currently under way looks pretty much like all the others since corporate profits bounced back from their nadir during the recession. Earnings are growing handsomely thanks to margin-expanding cost cuts -- not a commensurate rebound in revenue. Analysts, on average, expect the S&P 500 to post year-over-year quarterly earnings growth of 32% this season, according to data from Thomson Reuters. Revenue, however, is forecast to increase just 6%.
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