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DAILY EARNINGS

Biogen, GM, Qualcomm, Verizon Net Jump; BNY Mellon Net Declines


Author: Mukesh Buch
ticker.com
Last Update: 1:29 PM ET April 21 2016

12:00 PM New York BNY Mellon first-quarter net declined 7% to $1.4 billion. Biogen first-quarter net surged 18% to $971 million. GM first-quarter net soared 122% to $2 billion. Qualcomm second-quarter net jumped 11% to $1.2 billion. Verizon first-quarter net added 2% to $4.4 billion.

Tollbooth Index fell 21.88 or 0.2% to 10,876.78.

Earnings Review

American Express Company (AXP), the credit and charge card services provider said total revenues in the first-quarter ending in March rose 2% from a year ago to $8.09 billion.

Net income in the quarter declined 6.5% to $1.43 billion or $1.45 per diluted share compared to $1.53 billion or $1.48 per share from the same quarter last year.

Bank of New York Mellon Corp (BK), the bank and investment company reported total revenues in the first-quarter ending in March fell 1.6% from a year ago to $3.73 billion.

Net income in the quarter slid 0.2% to $808 million or 73 cents per diluted share compared to $810 million or 67 cents per share from the same quarter last year.

Biogen Inc (BIIB), the biopharmaceutical company said total revenues in the first-quarter ending in March soared 7% from a year ago to $2.73 billion.

Net income in the quarter surged 18% to $971 million or $4.43 per diluted share compared to $823 million or $3.49 per share from the same quarter last year.

General Motors Company (GM), the vehicle maker reported revenues in the first-quarter ending in March jumped 4.5% from a year ago to $37.3 billion.

Net income in the quarter soared 122% to $2 billion or $1.24 per diluted share compared to $0.9 million or 56 cents per share from the same quarter last year.

Qualcomm, Inc (QCOM), the communication services provider reported revenues in the second-quarter ending on March 27 plunged 19% from a year ago to $5.55 billion.

Net income in the quarter jumped 11% to $1.16 billion or 78 cents per diluted share compared to $1.05 billion or 63 cents per share from the same quarter last year.

Qualcomm lowered revenues forecast in the third-quarter to between $5.2 billion and $6 billion from $5.8 billion in a year ago period and diluted earnings per share in the range of 68 cents to 78 cents compared to 73 cents in the same period a year ago.

Verizon Communications Inc (VZ), the communications and entertainment services provider reported total revenues in the first-quarter ending in March edged up 0.6% from a year ago to $32.17 billion.

Net income in the quarter added 2.1% to $4.43 billion or $1.06 per diluted share compared to $4.34 billion or $1.02 per share from the same quarter last year.

Yum! Brands, Inc (YUM), the restaurants operator said total revenues in the first-quarter ending on March 19 were flat from a year ago to $2.62 billion.

Worldwide same-store sales increased 2% and worldwide system sales jumped 5%.

Net income in the quarter jumped 8% to $391 million or 93 cents per diluted share compared to $362 million or 81 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