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DAILY EARNINGS

Adobe, FedEx Net Surge; General Mills, Oracle Net Drop


Author: Mukesh Buch
ticker.com
Last Update: 12:54 PM ET March 18 2015

12:30 AM New York Adobe first-quarter net climbed 81% to $85 million. FedEx third-quarter net surged 53% to $580 million. General Mills third-quarter net plunged 16% to $343 million. Guess fourth-quarter net slipped 4% to $70 million. Oracle third-quarter net dropped 3% to $2.5 billion.

Tollbooth Index fell 0.6% or 66.73 to 10,603.99.

Earnings Review

Adobe Systems Inc (ADBE), the diversified software developer reported total revenues in the first-quarter ending on February 27 soared 11% to $1.11 billion from a year ago period.

Net income in the quarter climbed 80.6% to $84.9 million or 17 cents per diluted share compared to $47 million or 9 cents from the same quarter last year.

The software maker said subscription revenue in the quarter surged 68% to $713.4 million while product revenue plunged 38% to $290.8 million.

Adobe forecasted revenues for the second-quarter in the range of $1.13 billion to $1.18 billion and earnings per share between 41 cents and 47 cents.

FedEx Corporation (FDX), the package delivery services provider reported total revenues in the third-quarter ending in February jumped 4% to $11.7 billion from a year ago period.

Net income in the quarter surged 53% to $580 million or $2.01 per diluted share compared to $378 million or $1.23 from the same quarter last year.

FedEx forecasted diluted earnings per share for fiscal 2015 to be between $8.80 and $8.95.

General Mills, Inc (GIS), the branded consumer foods products supplier said net sales in the third-quarter ending on February 22 fell 0.6% to $4.35 billion form a year ago period.

Net income in the quarter plunged 16.4% to $343.2 million or 56 cents per diluted share compared to $410.6 million or 64 cents from the same quarter last year.

Guess, Inc (GES), the apparel and accessories retailer stated net revenues in the fourth-quarter ending on February 1 declined 5.7% to $768.4 million from a year ago period.

The retailer said comparable store sales in the quarter dropped 5.3% for the first time after ten consecutive quarters.

Net income in the quarter slipped 4.1% to $69.6 million or 82 cents per diluted share compared to $72.6 million or 85 cents from the same quarter last year.

The company forecasted revenue for the fiscal 2015 in the range of $2.42 billion to $2.43 billion and adjusted earnings per share between $1 and $1.10.

Oracle Corporation (ORCL), the enterprise software developer reported total revenues in the third-quarter ending in February edged up 0.2% to $9.33 billion from a year ago period.

Net income in the quarter dropped 3% to $2.50 billion compared to $2.56 billion and diluted earnings per share were flat at 56 cents from the same quarter last year.

Steel Dynamics, Inc (STLD), the steel producer and metal recycler forecasted adjusted diluted earnings per share for the first-quarter in the range of 12 cents to 16 cents.

Zebra Technologies Corp (ZBRA), the specialty printing devices maker said net sales in the fourth-quarter ending in December surged 177.9% to $790.6 million form a year ago period.

Net in the quarter swung to a loss of $51.7 million or $1.02 per diluted share compared to profit of $41.7 million or 82 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