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DAILY EARNINGS

Facebook, Kellogg Profit Jump; PPL, Viacom Net Tumble


Author: Mukesh Buch
ticker.com
Last Update: 2:30 AM ET May 04 2017

12:00 PM New York Apache first-quarter net swung to profit $213 million. Facebook first-quarter net jumped 76% to $3.1 billion. Kellogg first-quarter net jumped 49.7% to $262 million. PPL first-quarter net declined 16% to $403 million. Viacom second-quarter net tumbled 60% to $121 million.

Tollbooth Index increased 25.46 or 0.2% to 12,152.41.

Earnings Review

Apache Corporation (APA), the oil and gas explorer said revenues in the first-quarter ending in March jumped 72.7% from a year ago to $1.9 billion.

Net in the quarter swung to profit $213 million or 56 cents per diluted share from a loss of $372 million or 98 cents in the same quarter last year.

Ball Corporation (BLL), the metal packaging provider stated revenues in the third-quarter ending in March advanced 38.9% from a year ago to $2.5 billion.

Net in the quarter swung to profit $68 million or 38 cents per diluted share from a loss of $127 million or 90 cents in the same quarter last year.

On April 26, the board of directors approved a two-for-one split of its common stock, effective May 16 to shareholders of record on May 8.

Facebook Inc (FB), the social media network provider reported total revenues in the third-quarter ending in March soared 49% from a year ago to $8 billion.

Net income in the quarter jumped 76% to $3.1 billion or $1.04 per diluted share from $1.7 billion or 60 cents in the same quarter last year.

Mobile advertising revenue represented approximately 85% and average daily active users in the quarter increase 18% to 1.28 billion and monthly active users jumped 17% to 1.94 billion.

Facebook said as of March 31, cash and cash equivalents and marketable securities were $32.31 billion and capital expenditures in the quarter were $1.27 billion and headcount surged 38% from a year ago to 18,770.

""We had a good start to 2017 and continuing to build tools to support a strong global community,"" said founder and chief executive officer Mark Zuckerberg.

Global Payments Inc (GPN), the digital payment solution provider said revenues in the first-quarter ending in March surged 46.9% from a year ago to $919.8 million.

Net income in the quarter plunged 18.5% to $48.8 million or 32 cents per diluted share from $59.9 million or 46 cents in the same quarter last year.

In fiscal 2017, the company lifted revenues forecast from $3.38 billion to $3.46 billion, growth of 19% to 22% from fiscal 2016 and estimated earnings per share in the range of $3.78 to $3.95, reflecting growth of 19% to 24%.

Kellogg Company (K), the ready-to-eat cereal and convenience foods maker reported net sales in the first-quarter ending in March slumped 4.1% from a year ago to $3.3 billion.

Net income in the quarter jumped 49.7% to $262 million or $1.06 per diluted share from $175 million or 96 cents in the same quarter last year.

PPL Corporation (PPL), the electricity provider stated revenues in the first-quarter ending in March dropped 2.9% from a year ago to $1.9 billion.

Net income in the quarter declined 16.2% to $403 million or 59 cents per diluted share from $481 million or 71 cents in the same quarter last year.

Viacom, Inc VIA)), the media and entertainment services provider reported revenues in the second-quarter ending in March soared 8% from a year ago to $3.3 billion.

Net income in the quarter tumbled 60% to $121 million or 30 cents per diluted share from $303 million or 76 cents in 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