Several bellweather companies reported earnings that were not quite what Wall Street was looking for after the close of market yesterday and this is certain to have a negative impact on stock market trading as a whole today. Here is a brief rundown of earnings from some of the companies that will move the markets today.
Google (GOOG) 2nd QTR Report -
Google (GOOG) reported net income of $1.25 billion or $3.92 per share, up from $0.93 billion or $2.93 per share in the same quarter last year. Excluding charges, net income would have been $1.47 billion or $4.63 per share, as compared to $1.0 billion or $3.18 per share in the same period last year.
Gross revenues climbed 39% to $5.37 billion from $3.87 billion, while net revenues, excluding Traffic Acquisition Costs or TAC, jumped 43.4% to $3.9 billion from $2.72 billion in the previous year quarter. The revenues for the company, after it paid commissions to its advertising partners, beat analysts’ consensus estimate of $3.87 billion. Sequentially, gross revenues increased 3.5% from $5.19 billion reported in the first quarter.
Negatives:
While Google (GOOG) beat on revenues, it disappointed on the bottom line. Analysts had expected earnings excluding special items of $4.74/share, $0.11 above what the company delivered.
Microsoft (MSFT) 4th Qtr Earnings -
Microsoft (MSFT) reported revenues for the fourth quarter increased 18% to $15.84 billion from $13.37 billion in the same quarter last year. This actually beat consensus revenue estimate of $15.65 billion for the fourth quarter.
The company reported net income for the fourth quarter was $4.30 billion or $0.46 per share, compared to $3.04 billion or $0.31 per share for the year-ago quarter. Consensus estimate was for $0.47 per share for the fourth quarter.
Negatives:
MSFT’s quarterly EPS was below analysts’ expectations.
