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DAILY EARNINGS

AmEx, BB&T, Danaher, Qualcomm, Travelers, Verizon Net Plunge


Author: Mukesh Buch
ticker.com
Last Update: 4:30 AM ET April 20 2017

12:00 PM New York – American Express first-quarter net declined 13% to $1.2 billion. BNY Mellon first-quarter net jumped 9.5% to $880 million. eBay first-quarter net fell 2% to $538 million. Qualcomm second-quarter net plummeted 36% to $749 million. Verizon first-quarter net plunged 20% to $3.6 billion.

Tollbooth Index soared 169.32 or 1.5% to 11,802.02.

Earnings Review

American Express Company (AXP), the credit card services provider reported total revenues in the first-quarter ending in March fell 2% from a year ago to $7.9 billion.

Net income in the quarter declined 13% to $1.2 billion or $1.34 per diluted share from $1.4 billion or $1.45 in the same quarter last year.

In the quarter, the credit card services provider added net new 1.7 million new card members in the U.S. and 2.6 million worldwide.

“We acquired 2.6 million new cards across our global issuing businesses during the quarter and continued to broaden our reach,” said chairman and chief executive officer Kenneth I. Chenault.

The member services provider forecasted for fiscal 2017 diluted earnings per share in the range of $5.60 to $5.80.

The Bank of New York Mellon Corp (BK), the investment services provider said total revenues in the first-quarter ending in March advanced 3% from a year ago to $3.8 billion.

Net income in the quarter jumped 9.5% to $880 million or 83 cents per diluted share from $804 million or 73 cents in the same quarter last year.

The BNY Mellon said as of March 31, assets under custody jumped 5% to $30.6 trillion.

The management services provider estimated new assets under custody and/or administration wins in asset servicing in the quarter of $109 billion and assets under management soared 5% to $1.73 trillion.

BB&T Corporation (BBT), the banking and financial services provider reported total revenues in the first-quarter ending in March advanced 3.1% from a year ago to $1.8 billion.

Net income in the quarter tumbled 28.3% to $378 million or 46 cents per diluted share from $527 million or 67 cents in the same quarter last year.

The financial services provider said average deposits in the quarter rose to $161.4 billion compared to $160.1 billion from a year ago period.

Average loans and leases for investment were slid to $142 billion compared to $142.3 billion in the same period a year ago.

Danaher Corporation (DHR), the medical, industrial and commercial products maker said total revenues in the first-quarter ending in March soared 7.7% from a year ago to $4.2 billion.

Net income in the quarter plunged 33.3% to $506.1 million or 69 cents per diluted share from $758.4 million or 84 cents in the same quarter last year.

In the second-quarter, Danaher reaffirmed diluted earnings per share estimate in the range of 77 cents to 80 cents.

The manufacturing company forecasted diluted earnings per share in the fiscal 2017 in the range of $3.13 to $3.23.

eBay Inc (EBAY), the online marketplace provider said net revenues in the first-quarter ending in March rose 4% from a year ago to $2.2 billion.

Net income in the quarter fell 2% to $538 million or 49 cents per diluted share from $550 million or 47 cents in the same quarter last year.

eBay estimated revenues in the second-quarter between $2.28 billion and $2.32 billion and diluted earnings per share in the range of 20 cents to 40 cents.

In the full-year, revenues forecasted in the range of $9.3 billion to $9.5 billion and diluted earnings per share in the range of $1.85 - $2.10.

Philip Morris International Inc (PM), the cigarettes and tobacco products maker reported in the first-quarter ending in March fell 1.4% from a year ago to $16.6 billion.

Net income in the quarter slumped 3.9% to $1.6 billion or $1.02 per diluted share from $1.5 billion or 98 cents in the same quarter last year.

The cigarettes maker said total cigarette and heated tobacco unit shipment volume of declined 9.4% to 178.0 billion and cigarette shipment volume plummeted 11.5% to 173.6 billion units.

Qualcomm, Inc (QCOM), the communication network services provider said revenues sales in the second-quarter ending on March 26 declined 10% from a year ago to $5 billion.

Net income in the quarter plummeted 36% to $749 million or 50 cents per diluted share from $1.2 billion or 78 cents in 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