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DAILY EARNINGS

Verizon Net Surged 24%, BB&T Net Plunges 51%


Author: Mukesh Buch
ticker.com
Last Update: 12:43 PM ET April 18 2013

10:45 AM New York BB&T first quarter net plunged 51% to $210 million. eBay net soared 19% to $677 million. Morgan Stanley first quarter net swung to $958 million profit. SanDisk first quarter net soared 46% to $166 million. Verizon first quarter net surged 24.3% to $4.86 billion.

Earnings Review

BB&T Corporation (BBT), the holding company reported total revenue in the first quarter ending in March advanced 5% to $2.46 billion. Net income in the quarter plunged 51% to $210 million or 29 cents a diluted share compared to $431 million or 61 cents.

Danaher Corporation (DHR), the company said sales in the first quarter ending on March 29 rose 2% to $4.4 billion. Net earnings in the quarter jumped 13% to $691.9 million or 98 cents a diluted share compared to $612.9 million or 86 cents.

The Danaher anticipates second quarter GAAP diluted net earnings per share in the range of 80 cents to 85 cents.

The Danaher reaffirmed full year adjusted diluted net earnings per share between $3.32 and $3.47.

eBay Inc. (EBAY), the technology company stated net revenue in the first quarter ending in March surged 14% to $3.7 billion. Net income in the quarter soared 19% to $677 million or 51 cents a diluted share compared to $570 million or 44 cents.

The company added gross profit in the quarter climbed 18% to $2.6 billion.

For the second quarter, eBay expects net revenues in the range of $3.8 billion to $3.9 billion and GAAP diluted earnings per share between 46 cents and 48 cents and non-GAAP diluted earnings per share in the range of 61 cents to- 63 cents.

eBay expects, for the year net revenues in the range of $16 billion to $16.5 billion and GAAP diluted earnings per share between $2.23 and $2.29 and non-GAAP diluted earnings per share in the range of $2.70 to $2.75.

Morgan Stanley (MS), the financial services provider reported revenue in the first quarter ending in March climbed 19% to $8.2 billion. In the quarter net income swung to $958 million or 11 cents a diluted share compared to net loss $110 million or 6 cents.

Mattel, Inc. (MAT), the toy maker said net sales in the first quarter ending in March jumped 7% to $995.6 million. Net income in the quarter surged nearly four-fold 392% to $38.5 million or 11 cents a diluted share compared to $7.8 million or 2 cents.

The company said gross profit in the quarter tumbled 14% to $540 million.

Noble Corporation (NE), the energy company reported revenue in the first quarter ending in March climbed 22% to $971 million. Net income in the quarter surged 25% to $150 million or 11 cents a diluted share compared to $120 million or 2 cents.

The company said operating income in the quarter soared 60% to $229.8 million.

SanDisk Corporation (SNDK), the data storage solution provider said net sales in the first quarter ending in March surged 11% to $1.34 billion. Net income in the quarter soared 46% to $166 million or 68 cents a diluted share compared to $114 million or 46 cents.

Verizon Communications Inc (VZ), the communication company revenue in the first quarter ending in March surged 14% to $29.42 billion. Net income in the quarter surged 24.3% to $4.86 billion or 68 cents a diluted share compared to $3.91 billion or 59 cents.

The company said retail postpaid net additions in the quarter soared 35% to 677,000 low retail postpaid churn of 1.01%. At the end of the quarter total retail connections grew 6.4% to 98.9 million including total retail postpaid connections of 93.2 million.

Service revenues in the quarter climbed 8.65 to $16.7 billion and retail service revenues jumped 8.6% to $16.2 billion.
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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