Earnings Surprise (%)

Electronic Computers

Analysts < 10

Electronic Computers Analysts > 10

Accident and Health Insurance

Analysts < 10

Accident and Health Insurance Analysts > 10

Air Transport Analysts < 10

Air Transport > 10

<20

N/A

Sales = 6.95 × 10−6***

Sales = 6.98 × 10−6***

Sales = 6.95 × 10−6***

Sales = 6.77 × 10−6***

Sales = 6.95 × 10−6***

21 - 30

Sales = 5.49 × 10−6***

Cash = 4.70 × 10−6**

Sales = 5.44 × 10−6***

Cash = 4.84 × 10−6**

Sales = 5.49 × 10−6***

Cash = 4.84 × 10−6**

Sales = 5.44 × 10−6***

Cash = 4.84 × 10−6**

Sales = 5.49 × 10−6***

Cash = 4.76 × 10−6**

Sales = 5.44 × 10−6***

Cash = 4.84 × 10−6**

31 - 100

N/A

Sales = 2.26 × 10−6***

Sales = 1.83 × 10−6***

Sales = 2.27 × 10−6***

Sales = 2.31 × 10−6***

N/A

>100

Sales = 1.83 × 10−6**

N/A

N/A

N/A

Sales = 1.79 × 10−6***

N/A