Recurring earnings came in at 60 cents, surpassing the Zacks Consensus Estimate by 7.1% and improving year over year by 27.7%.

FORBES: Brinker International's Rise in Revenues

First Manhattan, a consultancy, reckons that one-third of the improvement in big American banks' earnings since 1993 comes from three non-recurring factors: lower deposit-insurance premiums, smaller provisions for loan losses and a wider gap between market interest rates and the rates banks pay depositors.

ECONOMIST: The trials of megabanks

It's still cheap at 15 times expected 2010 earnings, he says, but management has done an excellent job of investing in products with strong recurring revenue such as surgical stapling machines and single-use laparoscopic tools.

FORBES: Magazine Article