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DAILY EARNINGS

Exxon, Phillips 66 Net Plummet; LinkedIn Net Loss Narrows


Author: Mukesh Buch
ticker.com
Last Update: 12:13 PM ET April 29 2016

12:00 PM New York Amazon.com first-quarter net swung to profit $513 million. Amgen first-quarter net surged 17% to $1.9 billion. Chevron first-quarter net swung to a loss of $725 million. Exxon Mobil first-quarter net tumbled 63% to $1.8 billion. Phillips 66 first-quarter net plunged 61% to $385 million.

Tollbooth Index slipped 95.76 or 0.9% to 10,456.94.

Earnings Review

American Tower Corp (AMT), the communications real estate developer said total revenues in the first-quarter ending in March jumped 19.4% from a year ago to $1.29 billion.

Net income in the quarter soared 35.4% to $248.4 million or 58 cents per diluted share compared to $183.5 million or 45 cents per share from the same quarter last year.

AstraZeneca Plc (AZN), the U.K.-based biopharmaceutical company stated total revenues in the first-quarter ending in March edged up 0.8% from a year ago to $6.11 billion.

Net income in the quarter advanced 13.2% to $625 million or 51 cents per diluted share compared to $552 million or 44 cents per share from the same quarter last year.

Amazon.com Inc (AMZN), the online market place reported total net sales in the first-quarter ending in March soared 28% from a year ago to $29.13 billion.

Net in the quarter swung to profit $513 million or $1.07 per diluted share compared to a loss of $57 million or 12 cents per share from the same quarter last year.

In the second-quarter, the company forecasted revenues between $28 billion and $30.5 billion, or increase between 21% and 32% and operating income in the range of $375 million to $975 million compared to $464 million in a year ago period.

Amgen, Inc (AMGN), the biotechnology company said revenues in the first-quarter ending in March jumped 10% from a year ago to $5.53 billion.

Net income in the quarter surged 17% to $1.90 billion or $2.50 per diluted share compared to $1.62 billion or $2.11 per share from the same quarter last year.

Amgen lifted total revenues forecast in the year between $22.2 billion and $22.6 billion from earlier estimated range of $22 billion to $22.5 billion and earnings per share in the range of $10.85 to $11.20 compared to earlier estimated range of range of $10.60 to $11.

Chevron Corporation (CVX), the petroleum refiner said total revenues in the first-quarter ending in March plunged 28.1% from a year ago to $23.1 billion.

Net in the quarter swung to a loss of $725 million or 39 cents per diluted share compared to profit of $2.6 billion or $1.37 per share from the same quarter last year.

Exxon Mobil Corporation (XOM), the oil and gas refiner reported total revenues in the first-quarter ending in March plummeted 27.9% from a year ago to $48.71 billion.

Net income in the quarter tumbled 63.4% to $1.81 billion or 43 cents per diluted share compared to $4.94 billion or $1.17 per share from the same quarter last year.

Exxon said lower liquids and gas realizations decreased earnings by $2.6 billion and U.S. Upstream operations recorded a loss of $832 million compared to a loss of $52 million and downstream earnings were also declined to $906 million from $761 million in the same period a year ago period.

LinkedIn Corp (LNKD), the professional network services provider said total revenues in the first-quarter ending in March surged 35% from a year ago to $860.6 million.

Net loss in the quarter narrowed to $45.8 million or 35 cents per diluted share compared to $42.5 million or 34 cents per share from the same quarter last year.

LinkedIn estimated total revenues in the second-quarter in the range of $885 million to $890 million and non-GAAP earnings per share between 74 cents and 77 cents.

In the fiscal 2016, the professional network services provider forecasted total revenues between $3.65 billion and $3.70 billion and non-GAAP earnings per share in the range of $3.30 to $3.40.

Phillips 66 (PSX), the chemicals refiner and logistics group stated total revenues in the first-quarter ending in March declined 23.6% from a year ago to $17.41 billion.

Net income in the quarter plunged 61% to $385 million or 72 cents per diluted share compared to $987 million or $1.79 per share from the same quarter last year.

Rovi Corporation (ROVI), the entertainment company agreed to acquire DVR maker TiVo for $10.70 in a cash-and-stock or about $1.1 billion.

Under the terms, Rovi will pay $2.75 per share in cash or approx $277 million and $7.95 per share will be paid in stock.

Separately today Rovi said revenues in the first-quarter ending in March slumped 12% from a year ago to $118.4 million.

Net loss in the quarter widened to $17.7 million or 22 cents per diluted share compared to $15.5 million or 18 cents per share from the same quarter last year.

Seagate Technology Plc (STX), the Ireland-based electronic data storage provider said revenues in the third-quarter ending in March dropped 21.9% from a year ago to $2.60 billion.

Net in the quarter swung to a loss of $21 million or 7 cents per diluted share compared to profit of $291 million or 88 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