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DAILY EARNINGS

Cisco, PepsiCo Profit Soar; Reuters, Teva Pharma Net Plunge


Author: Mukesh Buch
ticker.com
Last Update: 2:07 AM ET February 11 2016

12:00 PM New York Avon fourth-quarter net loss widened to $333 million. Cisco fourth-quarter net soared 31% to $3.1 billion. PepsiCo fourth-quarter net surged 31% to $1.7 billion. Reynolds American fourth-quarter net vaulted 89% to $279 million. Reuters fourth-quarter net tumbled 64.5% to $408 million.

Tollbooth Index slipped 124.33 or 1.3% to 9,543.60.

Earnings Review

Avon Products, Inc (AVP), the beauty products maker said total revenue in the fourth-quarter ending in December plunged 20% from a year ago to $1.61 billion.

Net loss in the quarter widened to $333.4 million or 76 cents per diluted share compared to $330.7 million or 75 cents per share from the same quarter last year.

BorgWarner Inc (BWA), the gas and diesel engines maker stated revenue in the fourth-quarter ending in December jumped 6.5% from a year ago to $2.12 billion.

Net income in the quarter declined 10.4% to $125.3 million or 56 cents per diluted share compared to $139.9 million or 61 cents per share from the same quarter last year.

Cisco Systems, Inc (CSCO), the network services provider reported revenue in the fourth-quarter ending in December was nearly flat from a year ago to $11.93 billion.

Net income in the quarter soared 31% to $3.1 billion or 62 cents per diluted share compared to $2.4 billion or 46 cents per share from the same quarter last year.

Cisco forecasted revenues in the third-quarter to increase between 1% and 4% and earnings per share in the range of 54 cents to 56 cents.

Kellogg Company (K), the ready-to-eat cereal and convenience foods maker said net sales in the fourth-quarter ending in December slumped 10.6% from a year ago to $3.14 billion.

Net loss in the quarter narrowed to $41 million or 12 cents per diluted share compared to $293 million or 82 cents per share from the same quarter last year.

Kellogg estimated operating profit growth in the fiscal 2016 between 4% and 6%.

PepsiCo, Inc (PEP), the food and beverages maker reported revenue in the fourth-quarter ending in December dropped 7% from a year ago to $18.59 billion.

Net income in the quarter surged 31% to $1.72 billion or $1.17 per diluted share compared to $1.31 billion or 87 cents per share from the same quarter last year.

The beverages maker announced increase in its annualized dividend of 7.1% to $3.01 per share and estimated to pay in June 2016.

Reynolds American, Inc (RAI), the tobacco products maker stated total revenues in the fourth-quarter ending in December jumped 43.1% from a year ago at $3.05 billion.

Net income in the quarter vaulted 88.5% to $279 million or 19 cents per diluted share compared to $148 million or 14 cents per share from the same quarter last year.

Thomson Reuters Corporation (TRI), the businesses and professional information provider said revenues in the fourth-quarter ending in December fell 2% from a year ago at $3.15 billion.

Net income in the quarter tumbled 64.5% to $408 million or 53 cents per diluted share compared to $1.15 billion or $1.43 per share from the same quarter last year.

Teva Pharmaceutical Industries Ltd (TEVA), the Israel-focused pharmaceutical and drug maker stated revenue in the fourth-quarter ending in December dropped 6% from a year ago to $4.88 billion.

Net income in the quarter plummeted 29.4% to $485 million or 55 cents per diluted share compared to $687 million or 80 cents per share from the same quarter last year.

For the first-quarter, the company estimated revenues in the range of $4.7 billion to $4.9 billion and earnings per share between $1.16 and 1.20.

Twitter Inc (TWTR), the social media services provider reported revenue in the fourth-quarter ending in December soared 48.3% from a year ago to $710.5 million.

Net loss in the quarter narrowed to $90.2 million or 13 cents per diluted share compared to $125.4 million or 20 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