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DAILY EARNINGS

Dow, P&G Net Jump; Boeing Net Plunges


Author: Mukesh Buch
ticker.com
Last Update: 11:54 AM ET April 23 2014

10:45 AM New York Boeing first-quarter net declined 13% to $965 million. Biogen Idec first-quarter net climbed 12% to $480 million. Dow Chemical first-quarter net surged 75% to $964 million. General Dynamics first-quarter net rose 4% to $595 million. Procter & Gamble third-quarter net rose 2% to $2.61 billion.

Earnings Review

The Boeing Company (BA), the aerospace company reported revenue in the first-quarter ending in March climbed 8% to $20.5 billion.

Net earnings in the quarter declined 13% to $965 million or $1.28 a diluted share compared to $1.11 billion or $1.44.

Biogen Idec Inc (BIIB), the biotechnology company said revenue in the first-quarter ending in March soared 51% to $2.13 billion.

Net income in the quarter climbed 12.5% to $479.9 million or $2.02 a diluted share compared to $426.7 million or $1.79.

The Dow Chemical Company (DOW), the agricultural products maker stated revenue in the first-quarter ending in March rose 1% to $14.46 billion.

Net income in the quarter surged 75.3% to $964 million or 79 cents a diluted share compared to $550 million or 46 cents.

Delta Air Lines, Inc (DAL), the airline company said total revenue in the first-quarter ending in March jumped 5% to $8.92 billion.

Net income in the quarter soared to $213 million or 25 cents a diluted share compared to $7 million or 1 cent.

General Dynamics Corporation (GD), the aerospace and defense group reported revenue in the first-quarter ending in March fell 1.1% to $7.32 billion.

Net earnings in the quarter rose 4.2% to $595 million or $1.71 a diluted share compared to $571 million or $1.62.

The company said total backlog was $56 billion, above 20% increase from a year ago. The company won a 14-year contract from the Canadian government worth $10 billion.

Johnson Controls Inc (JCI), the temperature control system maker said net sales in the second-quarter ending in March rose 3.6% to $10.46 billion.

Net income in the quarter jumped 59.1% to $261 million or 39 cents a diluted share compared to $164 million or 24 cents.

The Procter & Gamble Company (PG), the consumer packaged goods maker stated net sales in the third-quarter ending in March were flat at $20.56 billion.

Net earnings in the quarter increased 2% to $2.61 billion or 90 cents a diluted share compared to $2.57 billion or 88 cents.
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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