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Market Update

Apple Profit Surge on iPhones Sales; BP, Ford, Merck Net Decline


Author: Mukesh Buch
ticker.com
Last Update: 1:13 PM ET April 28 2015

12:45 PM New York Apple net surged 33% after sales climbed 27%. BP net tumbled 27% on 41% decline in revenues. Ford profit and sales dropped. Hartford net slumped 6%. Merck profit plunged 45%. Pfizer net barely rose 2%. Total net tumbled 20%. Whirlpool profit soared 19%.

Tollbooth Index rose 0.2% or 16.27 to 10,867.25.

Earnings Review

Apple Inc (AAPL) slipped 1.2% or $1.63 to $131.22 after the mobile, media devices and personal computers maker reported revenues in the second-quarter ending on March 28 soared 27.1% to $58.01 billion from a year ago period.

Net income in the quarter surged 32.8% to $13.57 billion or $2.33 per diluted share compared to $10.22 billion or $1.66 from the same quarter last year.

During the quarter, iPhones sales climbed 40% to 61.2 million, including 72% increase in China but iPad unit sales declined 23% to 12.6 million units. Macs sales in the quarter jumped 10% to 4.56 million units.

Apple said revenues in America climbed 19% to $21.3 billion and revenues in Europe jumped 12% to $12.2 billion. Revenues in China surged 71% to $16.8 billion while revenues from Japan plunged 15%.

The company added revenues in Asia-Pacific regions soared 48% from a year earlier.

BP Plc (BP) increased 1.5% or 64 cents to $43.68 after the U.K.-based oil and gas explorer reported revenues in the first-quarter ending in March plummeted 40.9% to $54.92 billion from a year ago period.

Net income in the quarter tumbled 26.8% to $2.65 billion or $14.21 per diluted share compared to $3.62 billion or $18.97 from the same quarter last year.

Ford Motor Company (F) slid 7 cents to $15.82 after the automaker reported total revenues in the first-quarter ending in March declined 5.5% to $33.90 billion from a year ago period.

Net income in the quarter dropped 6.6% to $924 million or 23 cents per diluted share compared to $989 million or 24 cents from the same quarter last year.

Hartford Financial Services Group Inc (HIG) rose 8 cents to $41.48 after the insurance and financial services provider stated revenues in the first-quarter ending in March was nearly flat at $4.62 billion from a year ago period.

Net income in the quarter slumped 5.6% to $467 million or $1.04 per diluted share compared to $494 million or $1.05 from the same quarter last year.

Merck & Co., Inc (MRK) soared 5.2% or $2.96 to $60.06 after the health care company reported sales in the first-quarter ending in March dropped 8% to $9.43 billion from a year ago period.

Net income in the quarter plunged 45% to $958 million or 33 cents per diluted share compared to $1.73 billion or 57 cents from the same quarter last year.

Mastercard Inc (MA) rose 29 cents to $90.05 after the payment services provider agreed to acquire cloud-based analytics provider Applied Predictive Technologies for $600 million.

The deal is expected to close in the second-quarter of this year.

Pfizer Inc (PFE) slipped 15 cents to $34.44 after the biopharmaceutical company reported revenues in the first-quarter ending in March slumped 4% to $10.86 billion from a year ago period.

Net income in the quarter rose 2% to $2.38 billion or 38 cents per diluted share compared to $2.33 billion or 36 cents from the same quarter last year.

Total SA (TOT) gained 1.9% or $1.05 to $54.26 after the France-based oil and gas explorer said sales in the first-quarter ending in March plunged 30% to $42.31 billion from a year ago period.

Net income in the quarter tumbled 20% to $2.66 billion or $1.16 per diluted share compared to $3.34 billion or $1.46 from the same quarter last year.

Whirlpool Corporation (WHR) plunged 6.3% or $12.44 to $185.48 after the home appliances maker stated net sales in the first-quarter ending in March climbed 11.1% to $4.85 billion from a year ago period.

Net income in the quarter soared 18.8% to $191 million or $2.38 per diluted share compared to $160 million or $2.02 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