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DAILY EARNINGS

Facebook, Ford Net Soar; Colgate, MasterCard Net Decline


Author: Mukesh Buch
ticker.com
Last Update: 11:30 AM ET April 28 2016

12:00 PM New York Colgate first-quarter net fell 2% to $533 million. ConocoPhillips first-quarter net swung to a loss of $1.5 billion. Ford first-quarter net jumped 7% to $2.5 billion. MasterCard first-quarter net slumped 6% to $959 million. Facebook first-quarter net soared two-fold to $1.5 billion.

Tollbooth Index slid 17.26 to 10,688.94.

Earnings Review

Aetna Inc (AET), the health insurance services provider reported total revenues in the first-quarter ending in March jumped 4% from a year ago to $15.69 billion.

Net income in the quarter declined 7% to $726.6 million or $2.06 per diluted share compared to $777.5 million or $2.20 per share from the same quarter last year.

The insurer lifted earnings per share forecast for fiscal 2016 between $7.90 and $8.10 from the earlier guidance of about $7.75 per share.

Aetna said it remains on track to close $35 billion acquisition of medicare advantage coverage provider Humana in the second-half of the year.

Bristol-Myers Squibb Co (BMY), the biopharmaceutical company said revenues in the first-quarter ending in March soared 8.7% from a year ago to $4.39 billion.

Net income in the quarter edged up 0.8% to $1.20 billion compared to $1.19 billion and diluted earnings per share were flat at 71 cents from the same quarter last year.

Colgate-Palmolive Company (CL), the consumer products maker reported revenues in the first-quarter ending in March declined 7.5% from a year ago to $3.76 billion.

Net income in the quarter fell 1.7% to $533 million compared to $542 million and diluted earnings per share were flat at 59 from the same quarter last year.

Colgate said net sales in Latin America tumbled 22% and net sales in Europe and South Pacific slumped 7.5% and net sales in Asia region fell 2.5% while net sales in Africa and Eurasia region declined 9%.

ConocoPhillips (CON), the oil and gas producer said total revenues in the first-quarter ending in March plunged 37.4% from a year ago to $5.01 billion.

Net in the quarter swung to a loss of $1.47 billion or $1.18 per diluted share compared to profit of $272 million or 22 cents per share from the same quarter last year.

The oil and gas explorer reduced capital spending budget to $5.7 billion from $6.4 billion estimated in February.

Dow Chemical Co (DOW), the science and technology company stated sales in the first-quarter ending in March slumped 13.5% from a year ago to $10.70 billion.

Net income in the quarter tumbled 87.8% to $169 million or 15 cents per diluted share compared to $1.39 billion or $1.18 per share from the same quarter last year.

The diversified chemical producer said revenues in Performance Materials & Chemicals segment plunged to $2.2 billion from $3.2 billion in the year-ago period, mainly due to split-off of Dow Chlorine Products and sales were also plunged 15% that driven by declining in prices.

Ford Motor Company (F), the vehicle maker reported revenues in the first-quarter ending in March soared 11.3% from a year ago to $37.72 billion.

Net income in the quarter jumped 6.5% to $2.45 billion or 61 cents per diluted share compared to $2.30 billion or 32 cents per share from the same quarter last year.

MasterCard Inc (MA), the payment services provider said revenues in the first-quarter ending in March jumped 10% from a year ago to $2.45 billion.

Net income in the quarter slumped 6% to $959 million or 86 cents per diluted share compared to $1.02 billion or 89 cents per share from the same quarter last year.

MasterCard said processed transactions surged 14% to 12.6 billion and gross dollar volume on a local currency basis jumped 13% to $1.1 trillion while cross-border volumes advanced 12%.

As of March 2016, the customers had issued 2.3 billion MasterCard and Maestro-branded cards.

Facebook Inc (FB), the social network services provider reported total revenues in the first-quarter ending in March surged 52% from a year ago to $5.38 billion.

Net income in the quarter soared two-fold to $1.51 billion or 52 cents per diluted share compared to $509 million or 18 cents per share from the same quarter last year.

Facebook said advertising revenues jumped 57% to $5.20 billion while revenues in payments and other fees declined 20% to $181 million from a year ago period.

Sony Corporation (SNE), the Japan-based household electronic products maker reported revenues in the fourth-quarter ending in March were flat from a year ago to $16.14 billion.

Net loss in the quarter narrowed to $782 million or 62 cents per diluted share compared to $890 billion or 76 cents per share from the same quarter last year.

Sony said revenues in the year in Mobile Communication segment declined 9.5% to $9.98 billion while revenues in Game & Network Services business surged 18.7% to $13.73 billion from a year ago.

Revenues in Imaging Products & Solutions jumped 4.8% to $6.29 billion and sales in Home Entertainment products rose 2% to $10.26 billion and revenues in Pictures segment soared 13.4% to $8.30 billion compared to a year ago.

Time Warner Cable Inc (TWC), the cable network services provider said revenues in the first-quarter ending in March soared 7% from a year ago to $6.19 billion.

Net income in the quarter jumped 7.8% to $494 million or $1.72 per diluted share compared to $458 million or $1.59 per share from the same quarter last year.

In the quarter, Time Warner added 236,000 residential subscribers, boosted revenue in the segment by 5.8% while revenue from business services soared 13% after adding 13,000 new business subscribers.

High-speed data net additions in the quarter of about 314,000 subscribers and subscribers in Voice segment of about 178,000.

United Parcel Service, Inc (UPS), the package delivery services provider reported total revenues in the first-quarter ending in March dropped 3.2% from a year ago to $14.4 billion.

Net income in the quarter surged 10.2% to $1.13 billion or $1.27 per diluted share compared to $1.03 billion or $1.12 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