This Is How Analyst Earnings Calls Look To Me, Too (@JeffreyMatthews, #WallSt)

I’m glad to know I’m not crazy and Jeff Matthews has a similar experience to my own. This is hilarious and represents satire at its best, satire that is essentially just reality with the names changed:

CFO Cathie Lesjack: “The following discussion is subject to all sorts of risk factors, and since most of your clients have already lost a lot of money in HP stock by listening to me in the past talk about how great we were doing and taking it at face value, I figure you should already know enough not to pay much attention to what we’re going to say.”

  CEO Meg Whitman: “Thanks Cathie.  We’re going to dispense with reading the press release and the boo-ya stuff, since most of you know how to read—at least you can read everything but a balance sheet.  (Giggles)  Operator?”

 Operator: “Thank you.” (Reads instructions)  “Our first question is from the line of Glen Obvious.  Mr. Obvious?

 Glen Obvious: (Confused) “Hey, thanks.  That was quick. Umm…”

 Whitman:  “Operator, Glen, is trying to figure out what to congratulate us for, because he always starts out saying ‘congratulations’ on something so his poor clients who own our stock feel better no matter how bad the actual news is.  Why don’t you move on to the next question while Glen gets his brain going.”

 Operator: “Yes ma’am.  Next is Janet Literal.”

 Janet Literal: “Thank you for taking my question—”

 Whitman:  “Why wouldn’t we?  This is a conference call.”

 Literal:  “Well, I always say that…so you’ll think well of me.”
Whitman:  “Well cut it out.  We’re all grown-ups here.  You don’t have to thank us for foisting dopey acquisitions, massive write-offs, a negative tangible book value, a highly leveraged balance sheet and non-GAAP earnings on America’s small investors.  Just get on with it.”

 Literal:  “Okay—well, that’s my question: you don’t have anynon-GAAP numbers in the press release.”
Whitman:  “Yeah, we figured since those aren’t actually based on ‘Generally Accepted Accounted Principles,’ we should probably start going with just plain old GAAP.  It’s a lot closer to the truth that way.”

 Literal:  “But these GAAP numbers are terrible.  You didn’t make any money.”

 Whitman: “Bingo.”

 Literal:  “So how come your non-GAAP guidance was so much better than this?”

 Whitman:  “D’oh!”

 Literal:  “I’ll get back in the queue.”

 Whitman: “We won’t hold our breath, honey.  Next!”

 Operator:  “Your next question is from Fred Forehead.  Mr. Forehead, your line is open.”

 Fred Forehead:  “Thank you for—oh, sorry, never mind that. Meg, how should we think about the revenue decline?”

 Whitman:  “You want me to tell you how to think about something?!  Didn’t God give you a brain?”