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DAILY EARNINGS

Abbott, Apple, Coca-Cola Net Jump; Boeing Net Plunges


Author: Mukesh Buch
ticker.com
Last Update: 11:27 AM ET July 22 2015

12:30 AM New York – Abbott second-quarter net soared 68% to $784 million. Apple third-quarter net climbed 39% to $11 billion. Boeing second-quarter net plunged 33% to $1.1 billion. Coca-Cola second-quarter net soared 20% to $3.1 billion. Microsoft fourth-quarter net swung to a loss of $3.2 billion.

Tollbooth Index fell 0.3% or 35.93 to 10,860.57.

Earnings Review

Abbott Laboratories (ABT), the health care products maker reported revenues in the second-quarter ending in June increased 2.2% to $5.17 billion from a year ago period.

Net income in the quarter soared 68.3% to $784 million or 52 cents per diluted share compared to $466 million or 30 cents from the same quarter last year.

Abbott lifted GAAP earnings per share forecast for the year between $1.50 and $1.60 compared to earlier estimated range in April between $1.33 and $1.43.

Apple Inc (AAPL), the mobile, computers and media devices maker reported revenue in the third-quarter ending in June soared 33% to $49.61 billion from a year ago period.

Net income in the quarter climbed 39% to $10.7 billion or $1.85 per diluted share compared to $7.7 billion or $1.28 from the same quarter last year.

Apple said sales in Macs in the quarter increased 9% to 4.80 million but sales in iPad business tumbled 18% to 10.9 million units.

The company’s iPhones sales in the quarter climbed 35% to 47.5 million from 35.2 million in the same period a year ago.

For the quarter, revenues in America climbed 15% year-over-year to $20.2 billion and Europe revenue jumped 19% to $10.3 billion. Revenues in Greater China surged 112% to $13.2 billion and revenues in Japan advanced by 9%.

Apple forecasted revenues for the fourth-quarter in the range of $49 billion to $51 billion and gross margin between 38.5% and 39.5%.

Boeing Co (BA), the aerospace company said sales in the second-quarter ending in June jumped 11% to $24.54 billion from a year ago period.

Net income in the quarter plunged 33% to $1.11 billion or $1.59 per diluted share compared to $1.65 billion or $2.24 from the same quarter last year.

For the year, Boeing forecasted revenues in the range of $94.5 billion to $96.5 billion but diluted earnings per share to drop between $7.60 and $7.80 compared to previous guidance of $8.10 to $8.30.

The Coca-Cola Co (KO), the beverages maker said net revenues in the second-quarter ending in June dropped 3% to $12.16 billion from a year ago period.

Net income in the quarter soared 20% to $3.11 billion or 71 cents per diluted share compared to $2.60 billion or 58 cents from the same quarter last year.

Illinois Tool Works Inc (ITW), the industrial products and equipment maker said revenues in the second-quarter ending in June declined 7.8% to $3.43 billion from a year ago period.

Net income in the quarter tumbled 67.7% to $480 million or $1.30 per diluted share compared to $1.49 billion or $3.66 from the same quarter last year.

Microsoft Corporation (MSFT), the software products and services reported revenues in the fourth-quarter ending in June declined 5% to $22.18 billion from a year ago period.

Net in the quarter swung to a loss of $3.20 billion or 40 cents per diluted share compared profit of to $4.61 billion or 55 cents from the same quarter last year.

For the quarter, the company recorded impairment charge of about $7.5 billion related to write-down of Nokia Devices and Services acquisition and $780 million restructuring charge due to job cuts.

Microsoft said devices and consumer segment revenue plummeted 13% to $8.7 billion and total Xbox revenue climbed 27% but surface revenue soared 117% to $888 million. Cloud revenues surged 88% and while phone hardware revenue plunged 38%.

Whirlpool Corporation (WHR), the home appliances maker net sales in the second-quarter ending in the June jumped 11.2% to $5.21 billion from a year ago period.

Net income in the quarter fell 1% to $177 million or $2.21 per diluted share compared to $179 million or $2.25 from the same quarter last year.

Whirlpool forecasted net earnings per share for the year in the range of $9.50 to $10.50.

Yahoo! Inc (YHOO), the internet search services provider said revenues in the second-quarter ending in the June soared 14.8% to $1.24 billion from a year ago period.

Net in the quarter swung to a loss to $21.6 million or 2 cents per diluted share compared to profit of $269.7 million or 26 cents from the same quarter last year.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc