No, quarterly earnings. In this case, retained earnings, but they want to show profits in a situation with high inflation, stagnant employment, and other issues where customers are not as spendy as they once were.
I think a large part of it is that they want people physically and culturally close to themselves for projects they care about. Piles of companies have tried outsourcing core development and in my experience whatever minimal home team thats left keeps growing and growing and the oversess guys get pushed to the least desirable jobs. It's almost always a failure in the end, or at least the overseas team ends up being given limited scope, simple tasks while complex work finds it's way back home. I say this having worked with many talented overseas colleagues; I think this is a management level effect, not individual developer
