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DAILY EARNINGS

Google, Schlumberger Net Jump; GE Net Falls


Author: Mukesh Buch
ticker.com
Last Update: 1:12 PM ET October 18 2013

10:45 AM New York Baker Hughes third-quarter net declined 22% to $341 million. Google third-quarter net climbed 36% to $2.9 billion. GE third-quarter net plunged 9% to $3.2 billion. Honeywell third-quarter net jumped 4% to $990 million. Schlumberger third-quarter net surged 21% to $1.72 billion.

Earnings Review

Baker Hughes Inc (BHI), the oilfield service provider said revenue in the third-quarter ending in September jumped 8.2% to $5.79 billion. Net income in the quarter declined 22.2% to $341 million or 77 cents a diluted share compared to $279 million or 63 cents.

Google Inc. (GOOG), the search engines provider reported revenue in the third-quarter ending in September climbed 12% to $14.89 billion. Net income in the quarter climbed 36.2% to $2.97 billion or $8.75 a diluted share compared to $2.18 billion or $6.53.

Google said operating income in the third quarter climbed 25.5% to $3.44 billion and its owned sites revenues soared 22% to $9.39 billion and network revenue rose 0.6% to $3.15 billion.

Google added aggregate paid clicks in the quarter soared 26% but cost-per-click declined 8% from the third quarter of 2012.

Motorola Mobile segment revenues decreased 8% to $1.18 billion compared to $1.78 billion a year earlier.

General Electric Company (GE), the industrial conglomerates reported revenue in the third-quarter ending in September slid 1% to $35.7 billion. Net income in the quarter plunged 9% to $3.19 billion or 31 cents a diluted share compared to $3.49 billion or $6.53.

GE said orders for the quarter surged 19% to $25.7 billion. U.S. orders jumped 18% and orders from Europe soared 17%.

GE Capital continues to decrease the size of its portfolio, while focusing on its core businesses. GE Capital earnings rose 13% on positive results from its real estate and consumer businesses.

Honeywell International Inc. (HON), the aerospace products maker said the third-quarter ending in September advanced 3% to $9.64 billion. Net income in the quarter jumped 4% to $990 million or $1.24 a diluted share compared to $950 million or $1.20.

Ingersoll-Rand plc (IR), the diversified service provider reported net revenue in the third-quarter ending in September advanced 4.5% to $3.75 billion. Net income in the quarter plunged 48% to $165.9 million or 56 cents a diluted share compared to $321.6 million or $1.03.

Morgan Stanley (MS), the brokerage company reported total revenue in the third-quarter ending in September soared 50% to $7.93 billion. Net in the quarter swung to a profit $880 million or 45 cents a diluted share compared to a net loss of $1.05 billion or 55 cents.

Parker-Hannifin Corporation (PH), the diversified manufacturer said sales in the first-quarter ending in September rose 0.6% to $3.23 billion. Net income in the quarter grew 1.8% to $244.3 million or $1.61 a diluted share compared to $239.9 million or $1.57.

The company said sales from aerospace systems segment jumped 4.9% to $567.5 million and diversified industrial segment sales from North American fell 2.6% to $1.39 billion. International first quarter sales rose 1.8% to $1.27 billion.

For the fiscal 2014, the company lifted its guidance for earnings from continuing operations to the range of $7.78 to $8.38 per diluted share.

Schlumberger Limited (SLB), the oil and gas explorer stated total revenues in the third-quarter ending in September advanced 10% to $11.6 billion. Net income in the quarter surged 21% to $1.72 billion or $1.29 a diluted share compared to $1.42 billion or $1.07 a share.
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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