S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
DAILY EARNINGS

GE, Google, Kimberly-Clark, Microsoft Net Jump


Author: Mukesh Buch
ticker.com
Last Update: 11:04 AM ET April 19 2013

10:45 AM New York GE first quarter net soared 14% to $3.63 billion. Google first quarter net surged 16% to $3.34 billion. IBM first quarter net fell 1% to $3.03 billion. Kimberly-Clark net jumped 14%. Microsoft third quarter net jumped 19% to $6.06 billion. PepsiCo first quarter net slid 5% to $1.08 billion.

Earnings Review

General Electric Company (GE), the diversified company stated revenue in the first quarter ending in March were flat at $35 billion. Net earnings in the quarter soared 14% to $3.63 billion or 34 cents a diluted share compared to $3.23 billion or 29 cents.

During the quarter, GE sold its remaining 49% stake in the NBC Universal joint venture and related assets to Comcast for $18.1 billion.

GE added revenue from the power and water segment declined 26% to $4.83 billion but revenue from the aviation and transportation climbed 4% and 12% to $5.07 billion and $1.42 billion respectively.

The diversified conglomerate said revenue from the healthcare and oil and gas segments were flat at $4.29 billion and $3.40 billion respectively. Revenue from home & business solutions was also flat at $1.92 billion.

Google Inc. (GOOG), the information technology company reported revenue in the first quarter ending in March surged 31% to $13.97 billion. Net income in the quarter surged 16% to $3.34 billion or $9.94 a diluted share compared to $2.89 billion or $8.75.

The company added operating income in the quarter advanced 3% to $3.48 billion.

Honeywell International Inc. (HON), the aerospace products maker reported sales in the first quarter ending in March nearly flat at $9.33 billion. Net income in the quarter decreased 1% to $966 million or $1.21 a diluted share compared to $823 million or $1.04.

Honeywell lifted its sales expectations for the year in the range of $38.8 billion to $39.3 billion and diluted earnings per share between $4.80 and $4.95.

Kimberly-Clark Corporation (KMB), the household products maker stated net sales in the first quarter ending in March increased 2% to $5.32 billion. Net earnings in the quarter jumped 14% to $531 million or $1.36 a diluted share compared to $468 million or $1.18.

For the year the company expects adjusted earnings per share between $5.60 and $5.75, an increase of 7% to 10%.

International Business Machines Corporation (IBM), the technology company said total revenue in the first quarter ending in March fell 5% to $23.4 billion. Net earnings in the quarter decreased 1% to $3.03 billion or $2.70 a diluted share compared to $3.06 billion or $2.61.

The company said gross profit in the quarter dropped 4% to $10.7 billion.

IBM expects full year GAAP diluted earnings per share nearly $15.53.

Microsoft Corporation (MSFT), the software company reported revenue in the third quarter ending in March climbed 18% to $20.49 billion. Net income in the quarter jumped 19% to $6.06 billion or 72 cents a diluted share compared to $5.11 billion or 60 cents.

PepsiCo, Inc. (PEP), the beverage company stated net revenue in the first quarter ending in March slipped 1% to $12.9 billion. Net income in the quarter slumped 5% to $1.08 billion or 69 cents a diluted share compared to $1.13 billion or 71 cents.

The company affirms for the year earnings per share expects growth of 7% to nearly $4.10.

Philip Morris International Inc. (PM), the holding company reported net revenue in the first quarter ending in March grew 3% to $18.5 billion. Net income in the quarter decreased 2% to $2.13 billion or $1.28 a diluted share compared to $2.16 billion or $1.25.

The company added gross profit in the quarter advanced 2% to $5.10 billion.

For the year the Philip Morris expects diluted earnings per share in the range of $5.55 to $5.65

Schlumberger Limited (SLB), the exploration company stated net revenue in the first quarter ending in March jumped 8% to $10.67 billion. Net income in the quarter fell 3% to $1.26 billion or 94 cents a diluted share compared to $1.30 billion or 97 cents.
  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc