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DAILY EARNINGS

Amazon Net Swings to Profit; Visa Net Jumps, AT&T, Moody's Net Drop


Author: Mukesh Buch
ticker.com
Last Update: 12:52 PM ET July 24 2015

12:30 AM New York – Amazon.com second-quarter net swung to profit $92 million. AT&T second-quarter net plunged 14% to $3 billion. Caterpillar second-quarter net tumbled 29% to $710 million. Moody''s second-quarter net plunged 18% to $262 million. Visa third-quarter net climbed 25% to $1.7 billion.

Tollbooth Index fell 26.04 or 0.2% to 10,792.10.

Earnings Review

Amazon.com, Inc (AMZN), the online retailer reported net sales in the second-quarter ending in June soared 20% to $23.18 billion from a year ago period.

Net in the quarter swung to $92 million profit or 19 cents per diluted share compared to a loss of $26 million or 27 cents from the same quarter last year.

The retailer forecasted net sales for the third quarter in the range of $23.3 billion to $25.5 billion.

AT&T Inc (T), the communications services provider reported sales in the second-quarter ending in June increased 1.4% to $33.02 billion from a year ago period.

Net income in the quarter plunged 14.4% to $3.04 billion or 58 cents per diluted share compared to $3.55 billion or 68 cents from the same quarter last year.

As of June, AT&T reported cash and cash equivalents of $20.95 billion from $11.3 billion in a year ago period.

Separately, the telecom company won the Justice Department merger approval of company’s proposed $48.5 billion purchase of DirecTV after the Federal Communications Commission voted on to approve the merger.

Caterpillar Inc (CAT), the construction and mining equipment maker said revenues in the second-quarter ending in June declined 13% to $12.32 billion from a year ago period.

Net income in the quarter tumbled 29% to $710 million or $1.16 per diluted share compared to $999 million or $1.57 from the same quarter last year.

The company lowered full-year revenues forecast of about $49 billion from the earlier estimate of about $50 billion and held its estimated range per share between $4.70 and $5.

Cabot Oil & Gas Corporation (COG), the oil and gas company said revenues in the second-quarter ending in June plummeted 42.5% to $306.3 million from a year ago period.

Net in the quarter swung to a loss of $27.5 million or 7 cents per diluted share compared to profit of $118.4 billion or 28 cents from the same quarter last year.

Cigna Corporation (CI), the health care services provider said preliminary results for the second-quarter in June to climb 9% to $9.5 billion and net income is forecasted to increase to $574 million or $2.21 per share compared to $573 million or $2.12 per share.

Moody''s Corporation (MCO), the ratings services provider said revenues in the second-quarter ending in June jumped 5% from a year ago period to $918.1 million.

Net income in the quarter plunged 18% to $261.7 million or $1.28 per diluted share compared to $319.2 million or $1.48 from the same quarter last year.

Rockwell Collins, Inc (COL), the aviation applications designer stated total reported sales in the third-quarter ending in June rose 2% to $1.29 billion from a year ago period.

Net income in the quarter soared 12.6% to $178 million or $1.33 per diluted share compared to $158 million or $1.15 from the same quarter last year.

Rockwell forecasted revenues for the year nearly unchanged from earlier guidance between $5.25 billion and $5.30 billion but lifted its earnings per share estimate in the range of $5.15 to $5.25 from the previous estimated range between $5.10 and $5.30.

Visa Inc (V), the debit and credit card payment services provider reported revenues in the third-quarter ending in June surged 12% to $3.52 billion from a year ago period.

Net income in the quarter climbed 25% to $1.70 billion or 69 cents per diluted share compared to $1.36 billion or 54 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