Reporting season is into its fourth week. It’s usually the busiest week with a stack of companies posting their results on Wednesday and Thursday. So far, this reporting season has been a good one. We’ve seen stellar results from companies such as Telstra, Treasury Wine Estates, QBE, CSL, Domino’s Pizza, Magellan Financial Group and Crown Resorts. Investors should feel a little more confident that the string of good results will extend into the busiest week. What is interesting is that most of the upside surprises have come from companies outside the ASX Top 10. The best performing stock so far has been Magellan Financial Group rising 14.3% on the day. The worst performer was Pact Group Holdings which fell by 21.9%. Every week we will give a short summary of the companies that reported. Credit Corp (CCP) – NPAT rose 17% to $64.3m versus a consensus forecast of $71m. Guidance impressed. Increased earnings from the US debt buying and consumer lending businesses are expected to drive solid profit growth in 2019 in the range of 4% to 7%. PDL investment guidance in the range of $150 to $170 million. Rio Tinto (RIO) – A disappointing result. Underlying earnings have come in at US$9.19bn which was lower than an expected US$9.6bn. Dividend was US$1.27 compared to US$1.41. Iron ore was quite strong, so it looks like it was the aluminium division that was weak. A $1bn buyback was short of what the market was expecting. AMP has posted an underlying NPAT of $495m down 7% and higher than a Bloomberg consensus forecast of $487m. The wealth management firm has vowed to defend five class actions it has against its name. Earnings and inflows were hurt by these scandals resulting in remediation provisions and costs that dragged down the bottom line. Earnings also fell in its New Zealand financial services division. Last month, AMP provided guidance that underlying profit would print at $490m to $500m for the six months ended June 30. Here are dot points from the result: 1H underlying profit of $495m Strong growth in AMP Bank with earnings up 20% on 1H 17. Continued momentum in AMP Capital Operating earnings up 2% on 1H 17 during period of investment in real assets capability and international expansion. Australian wealth management resilient in a challenging environment Operating earnings increased 6% to $204m Assets under management increased 6% to $132bn. Surplus capital of $1.8bn above minimum regulatory requirements. Interim dividend of 10c, franked to 50%. Total assets under management and administration amounted to $260bn at June 30, higher than $257bn six months earlier. Similar to CBA, AMP has had a tough ride this year becoming the biggest casualty so far of the Royal Banking Commission. It lost its chairman Catherine Brenner, CEO Craig Meller and three board directors in 2018. The CBA result was a slight miss on expectations. Shares might open flat. Its result was supported by another improvement in the quality of its loan book, with loan impairment expenses down 1.5% to $1.08bn. However, in total,  CBA spent $1.1bn defending itself in lawsuits and hearings. Here are the dot points from the results: Cash NPAT was down 4.8% to $9.233bn which was below an expected $9.554bn. Operating income up 2.6% to $25.907bn. Net interest margin up 5bps to 2.15%. Operating expenses up 9.2% to $11.599bn largely due to the AUSTRAC civil penalty of $700m. Loan impairment expense of…

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