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DAILY EARNINGS

American Express, Honeywell Net Jump; Schlumberger Net Tumbles


Author: Mukesh Buch
ticker.com
Last Update: 12:38 PM ET April 17 2015

12:30 AM New York American Express first-quarter net jumped 6% to $1.5 billion. GE first-quarter net swung to a loss of $13.6 billion. Honeywell first-quarter net climbed 10% to $1.1 billion. Reynolds American first-quarter net advanced 6% to $389 million. Schlumberger first-quarter net tumbled 36% to $975 million.

Tollbooth Index dropped 1.2% or 124.15 to 10,540.27.

Earnings Review

American Express Company (AXP), the consumer lending services provider reported total revenues in the first-quarter ending in March dropped 3% to $7.95 billion from a year ago period.

Net income in the quarter jumped 6% to $1.53 billion or $1.48 per diluted share compared to $1.43 billion or $1.33 from the same quarter last year.

Revenue from U.S. card services segment rose 6% to $934 million but revenues from international card services segment tumbled 16% to $134 million.

Advanced Micro Devices, Inc (AMD), the desktop and mobile computer chip processor maker said revenues in the first-quarter ending on March 28 declined 26.4% to $1.03 billion from a year ago period.

Net loss in the quarter widened to $180 million or 23 cents per diluted share compared to $20 million or 3 cents from the same quarter last year.

General Electric Company (GE), the diversified conglomerate reported total revenues in the first-quarter ending in March tumbled 12% to $29.36 billion from a year ago period.

Net in the quarter swung to a loss of $13.57 billion or $1.35 per diluted share compared to profit of $3 billion or 30 cents from the same quarter last year.

GE Capital revenues in the quarter plunged 39% to $5.98 billion and industrial segment revenues dropped 1% to $24.36 billion and revenue from its oil & gas business declined 8% to $3.96 billion.

Honeywell International Inc (HON), the aerospace and defense products maker said revenues in the first-quarter ending in March slumped 5% to $9.21 billion from a year ago period.

Net income in the quarter climbed 9.8% to $1.12 billion or $1.41 per diluted share compared to $1.02 billion or $1.28 from the same quarter last year.

Honeywell lowered its sales forecast for the year to drop 2% to in the range of $39 billion to $39.6 billion form earlier estimated range of $40.5 billion to $41.1 billion but earnings per share to increase between $6 and $6.15 from previous range of $5.95 to $6.15.

Reynolds American, Inc (RAI), the tobacco products maker stated net sales in the first-quarter ending in March jumped 6% to $2.06 billion from a year ago period.

Net income in the quarter advanced 6% to $389 million or 73 cents per diluted share compared to $363 million or 67 cents from the same quarter last year.

Schlumberger N.V (SLB), the oilfield services provider said revenues in the first-quarter ending in March plummeted 9% to $10.25 billion from a year ago period.

Net income in the quarter tumbled 36.3% to $975 million or 76 cents per diluted share compared to $1.53 billion or $1.21 from the same quarter last year.

Seagate Technology Plc (STX), the Ireland-based data storage products maker reported revenues in the third-quarter ending on April 3 slipped 2.3% to $3.33 billion from a year ago period.

Net income in the quarter declined 26.3% to $291 million or 88 cents per diluted share compared to $395 million or $1.17 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