Growth is a relative term. You can consider growth over a long period of time or over a short period of time. In our current environment, you hear many argue that compared to a year ago or sometimes even longer, the results show declines in growth. However, in most cases the short term view is that growth on a month over month basis is up.
How do we reconcile these two things. Well, if you have a company that achieved profitability after negative growth, and it then starts to grow from the new lower base, profitability will also grow. However, if you need to return to prior year levels in order to achieve profitability, than the longer term view is appropriate.
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