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DAILY EARNINGS

Alphabet, McDonald's, Visa Net Soar; Microsoft Net Plunges


Author: Mukesh Buch
ticker.com
Last Update: 12:17 PM ET April 22 2016

12:00 PM New York Alphabet first-quarter net surged 20% to $4.2 billion. GE first-quarter net loss narrowed to $98 million. Honeywell first-quarter net jumped 6% to $1.2 billion. McDonald''s first-quarter net soared 35% to $1.1 billion. Microsoft third-quarter net plunged 25% to $3.8 billion. Visa first-quarter net soared 10% to $1.7 billion.

Tollbooth Index dropped 186.37 or 1.7% to 10,665.38.

Earnings Review

American Airlines Group Inc (AAL), the airline operator said total revenues in the first-quarter ending in March fell 4% from a year ago to $9.43 billion.

Net income in the quarter plunged 24.9% to $700 million or $1.14 per diluted share compared to $932 million or $1.30 per share from the same quarter last year.

The airline said net profit in the quarter included a tax related provision of $417 million, including non-cash $414 million amount.

Alphabet Inc (GOOG), the search engine services provider said revenues in the first-quarter ending in March soared 17% from a year ago to $20.26 billion.

Net income in the quarter surged 19.6% to $4.21 billion or $6.02 per diluted share compared to $3.52 billion or $5.10 per share from the same quarter last year.

Caterpillar Inc (CAT), the construction and mining equipment maker reported revenues in the first-quarter ending in March plunged 25.5% from a year ago to $9.46 billion.

Net income in the quarter tumbled 78.3% to $271 million or 46 cents per diluted share compared to $1.25 billion or $2.03 per share from the same quarter last year.

Caterpillar lowered annual revenue forecast to between $40 billion and $42 billion from the previously announced range of $40 billion to $44 billion and earnings per share of about $3.70 compared to the previous estimate of $4.

General Electric Company (GE), the industrial conglomerate reported revenues in the first-quarter ending in March jumped 6% from a year ago to $27.8 billion.

Net loss in the quarter narrowed to $98 million or 1 cent per diluted share compared to $13.6 billion or $1.35 per share from the same quarter last year.

In April 2015, GE Capital had announced its plan to divest about $200 billion of its assets and by the end of March 2016 the company had already reached agreements to sell $166 billion and sold $146 billion of assets and recorded a loss of $1.2 billion in the quarter.

Honeywell International Inc (HON), the diversified technology and manufacturing company said revenues in the first-quarter ending in March rose 3% from a year ago to $9.52 billion.

Net income in the quarter jumped 6.3% to $1.19 billion or $1.53 per diluted share compared to $1.12 billion or $1.41 per share from the same quarter last year.

The industrial conglomerate lifted revenue forecast in the year between $40.3 billion and $40.9 billion, an increase of 4% to 6% from the previously estimated range of $39.9 billion and $40.9 billion and earnings per share to jump between $6.55 and $6.70 from the earlier estimated range between $6.45 and $6.70.

Kimberly Clark Corp (KMB), the sanitary products maker reported revenues in the first-quarter ending in March dropped 5% from a year ago to $4.48 billion.

Net income in the quarter surged 16.5% to $545 million or $1.50 per diluted share compared to $468 million or $1.27 per share from the same quarter last year.

McDonald''s Corporation (MCD), the fast-food chain operator stated revenues in the first-quarter ending in March slid 1% from a year ago to $5.9 billion.

Comparable sales in the U.S. jumped 5.4% after ongoing popularity of All Day Breakfast and introduction of McPick 2 and comparable sales in the international segment soared 5.2% while comparable sales in China and Russia rose 3.6%.

Net income in the quarter soared 35% to $1.10 billion or $1.23 per diluted share compared to $811.5 million or 84 cents per share from the same quarter last year.

Microsoft Corporation (MSFT), the technology company reported revenues in the third-quarter ending in March declined 5.5% from a year ago to $20.53 billion.

Net income in the quarter plunged 24.6% to $3.76 billion or 47 cents per diluted share compared to $4.99 billion or 61 cents per share from the same quarter last year.

Microsoft said revenue from office commercial products rose 7% and office consumer products revenues jumped 6% while dynamics products and cloud revenue soared 9% and intelligent cloud revenue increased 3%.

Visa Inc (V), the payments technology provider said total revenues in the second-quarter ending in March advanced 6.4% from a year ago to $3.63 billion.

Net income in the quarter soared 10.3% to $1.71 billion or 71 cents per diluted share compared to $1.55 billion or 63 cents per share 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