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DAILY EARNINGS

Apple, Humana, Time Warner Net Surge; Cardinal Health Net Tumbles


Author: Mukesh Buch
ticker.com
Last Update: 3:47 AM ET August 02 2017

12:00 PM New York Apple third-quarter net soared 12% to $8.7 billion. Cardinal Health fourth-quarter net declined 18% to $274 million. Humana second-quarter net doubled to $650 million. Southern Co second-quarter net more than doubled to $1.4 billion. Time Warner second-quarter net soared 16% to $1.1 billion.

Tollbooth Index gained 18.62 or 0.2% to 12,368.42.

Earnings Review

Apple Inc (AAPL), the iPhone and digital devices maker reported revenues in the third-quarter ending on July 1 jumped 7% from a year ago to $45.4 billion.

Net income in the quarter soared 11.5% to $8.7 billion or $1.67 per diluted share from $7.8 billion or $1.42 in the same quarter last year.

The iPhone maker said revenue in China declined 10% to $8 billion but chief executive officer Tim Cook said he was """"""""encouraged"""""""" by performance in China but it hit milestone sales of 1.2 billion iPhones in its 10th anniversary year.

Sales in the quarter increased 1.6% to 41.03 million from sales of 40.4 million in a year earlier.

Apple said the number of iPads sold surged 28% while revenues increased 2% while revenue from its other devices like Apple Watch, Apple TV jumped 23% and Apple Pay accounted for nearly 90% of mobile payment transactions globally.

Apple forecasted fourth-quarter total revenue between $49 billion and $52 billion.

Cardinal Health Inc (CAH), the healthcare services provider said revenues in the fourth-quarter ending in June advanced 5% from a year ago to $33 billion.

Net income in the quarter declined 18% to $274 million or 86 cents per diluted share from $333 million or $1.02 in the same quarter last year.

Cardinal forecasted fiscal 2018 profit in the range of $4.85 to $5.10 below estimate of $5.27.

Exelon Corporation (EXC), the utility services provider reported revenues in the second-quarter ending in June soared 10.1% from a year ago to $7.6 billion.

Net income in the quarter tumbled 70% to $80 million or 9 cents per diluted share from $267 million or 29 cents in the same quarter last year.

The electricity producer reaffirmed earnings per share estimate in the range of $2.50 to $2.80.

Humana Inc (HUM), the health insurance provider said total revenues in the second-quarter ending in June fell 3.4% from a year ago to $13.5 billion.

Net income in the quarter doubled to $650 million or $4.46 per diluted share from $311 million or $2.06 in the same quarter last year.

Humana lifted fiscal 2017 earnings per share forecast $17.83 from the earlier estimate of $16.91.

The Southern Company (SO), the electricity generator stated revenues in the second-quarter ending in June soared 20% from a year ago to $5.4 billion.

Net income in the quarter more than doubled to $1.4 billion or $1.38 per diluted share from $623 million or 67 cents in the same quarter last year.

Time Warner Inc (TWX), the media and digital entertainment services provider reported revenues in the second-quarter ending in June jumped 5% from a year ago to $7.3 billion.

Net income in the quarter soared 15.5% to $1.1 billion or $1.34 per diluted share from $952 million or $1.20 in the same quarter last year.

The media and digital entertainment services expect its pending merger with AT&T to close before the end of this 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