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DAILY EARNINGS

BlackRock Net Soars 25%; J&J, Coca-Cola Net Drop


Author: Mukesh Buch
ticker.com
Last Update: 11:01 AM ET April 16 2013

10:45 AM New York BlackRock fourth quarter net climbed 25% to $695 million. J&J first quarter net dropped 10% to $3.5 billion. Coca-Cola first quarter net tumbled 15% to $1.75 billion. Goldman Sachs quarterly net jumped 5% to $2.18 billion. Grainger first quarter net climbed 13% to $212 million.

Earnings Review

BlackRock, Inc. (BLK), the investment company reported revenue in the fourth quarter ending in December jumped 14% to $2.54 billion. Net income in the quarter climbed 25% to $695 million or $3.96 a diluted share compared to $558 million or $3.06.

The company said operating income in the quarter surged 24% to $1 billion.

Brown & Brown, Inc. (BRO), the insurance company stated total revenues in the first quarter ending in March climbed 11% to $335 million. Net income in the quarter advanced 22% to $60.1 million or 60 cents a diluted share compared to $49.4 million or 64 cents.

Comerica Incorporated (CMA), the financial services company said net interest income in the first quarter ending in March plunged 6% to $416 million. Net income in the quarter increased 2% to $132 million or 70 cents a diluted share compared to $129 million or 66 cents.

Johnson & Johnson (JNJ), the pharmaceutical maker reported sales in the first quarter ending in March surged 9% to $17.5 billion. Net earnings in the quarter dropped 10% to $3.5 billion or $1.22 a diluted share compared to $3.9 billion or $1.41.

The health care company said domestic sales in the quarter climbed 11.2% and international sales jumped 6.3%. Worldwide consumer sales increased 2.2% $3.7 billion and worldwide pharmaceutical sales soared 10.4% to $6.8 billion.

The company confirmed its earnings guidance for the full year in the range of $5.35 to $5.45 per share.

The Coca-Cola Company (KO), the beverage company said net operating revenue in the first quarter ending on March 29 fell 1% to $11 billion. Net income in the quarter tumbled 15% to $1.75 billion or 39 cents a diluted share compared to $2.05 billion or 45 cents.

The company added operating income in the quarter dropped 4% to $2.4 billion.

The Goldman Sachs Group, Inc (GS), the financial holding company stated revenues in the first quarter ending in March rose 2% to $9.16 billion. Net earnings in the quarter advanced 5% to $2.18 billion or $4.29 a diluted share compared to $2.07 billion or $3.92.

U.S. Bancorp (USB), the financial services provider said total net revenue in the first quarter ending on March 23 decreased 1% to $4.9 billion. Net earnings in the quarter jumped 7% to $1.43 billion or 73 cents a diluted share compared to $1.34 billion or 67 cents.

Washington Federal, Inc. (WAFD), the holding company said interest income in the first quarter ending in March plunged 18% to $126.5 million. Net income in the quarter advanced 5% to $36 million or 34 cents a diluted share compared to $34 million or 32 cents.

Wolverine World Wide, Inc. (WWW), the footwear company reported revenue in the first quarter ending on March 23 surged 103% to $6.5 billion. Net earnings in the quarter decreased 4% to $29.8 million or 60 cents a diluted share compared to $31.2 million or 64 cents.

The company added gross profit in the quarter soared 98% to $262.1 million.

W.W. Grainger, Inc. (GWW), the products and services distributor reported sales in the first quarter ending in March jumped 4% to $2.3 billion. Net earnings in the quarter climbed 13% to $212 million or $2.94 a diluted share compared to $188 million or $2.57.

The company said sales for the United States segment and first quarter at Canada segment each increased 4%.

The company lifted outlook for fiscal 2013 and now expects sales growth in the range of 5% to 9% and earnings per share between $11.30 and $12.
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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