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Question: Shares of Pitney Bowes dropped 10 percent after it announced earnings per share from continuing operations of $0.70 for its September quarter of 1999, up from $0.49 in the same quarter in the year before. Revenues also increased 8 percent. Analysts raised concerns about the quality of the earnings, citing a decrease in the firm's effective tax rate. Why might the effective tax rate be of concern to analysts?

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Category:- Basic Finance
Reference No.:- M92300081

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