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Market Update

Facebook Net Soars 70%, MasterCard Revenues Rise 13%


Author: Mukesh Buch
ticker.com
Last Update: 1:27 PM ET July 27 2017

2:10 PM New York American Tower net soared. Bristol-Myers lowered earnings outlook after profit plunged. Celgene net surged. Comcast revenues jumped 10%. ConocoPhillips net loss widened. Dow Chemical net tumbled. Facebook advertising revenues surged. MasterCard net soared. P&G net jumped.

Tollbooth Index dropped 56.78 or 0.5% to 12,415.42.

Earnings Review

American Tower Corp (AMT) slipped 1% or $1.39 to $136.57 after the communications infrastructure developer said total revenues in the second-quarter ending in June jumped 15.3% from a year ago to $1.7 billion.

Net income in the quarter soared 114.1% to $344.2 million or 80 cents per diluted share from $160.8 million or 37 cents in the same quarter last year.

Bristol-Myers Squibb Co (BMY) declined 4% or $2.25 to $53.73 after the pharmaceutical products maker reported revenues in the second-quarter ending in June advanced 6% from a year ago to $5.1 billion.

Net income in the quarter plunged 23.7% to $916 million or 56 cents per diluted share from $1.2 billion or 69 cents in the same quarter last year.

Bristol-Myers lowered earnings per share forecast in fiscal 2017 in the range of $2.66 to $2.76 from the earlier estimate of $2.72 to $2.87.

Celgene Corporation (CELG) decreased 1% or $1.40 to $136.29 after the biopharmaceutical products maker said net sales in the second-quarter ending in June jumped 19% from a year ago to $3.3 billion.

Net income in the quarter surged 83.9% to $1.1 billion or $1.31 per diluted share from $598 million or 75 cents in the same quarter last year.

Celgene forecasted fiscal 2017 total revenues between $13 billion and $13.4 billion and lowered diluted earnings per share in the range of $5.36 to $5.62 from the earlier estimate of $5.95 to $6.29 but lifted adjusted earnings per share estimate to between $7.25 and $7.35 from $7.15 to $7.30.

Comcast Corporation (CMCSA) gained 1.5% or 60 cents to $39.95 after the broadcasting network provider reported revenues in the second-quarter ending in June increased 9.8% from a year ago to $21.2 billion.

Net income in the quarter jumped 23.9% to $2.5 billion or 52 cents per diluted share from $2.03 billion or 41 cents in the same quarter last year.

Comcast said revenues in cable communications business increased 5.5% and revenues for high-speed internet delivery account soared 9.2%, mainly on the increase in the number of residential customers.

Revenues in video segment jumped 3.9% and revenues in business services surged 12.6%, driven by the increases in the number of customers receiving small and medium-sized business services.

ConocoPhillips (COP) increased 1.2% or 53 cents to $44.23 after the oil and gas producer stated revenues in the second-quarter ending in June surged 58.9% from a year ago to $8.9 billion.

Net loss in the quarter widened to $3.4 billion or $2.78 per diluted share from $1.5 billion or $1.18 in the same quarter last year.

The oil producer reduced the debt and retired early $3 billion in the quarter and a further $2.4 billion debt committed to be retired in the third quarter and expects year-end debt of less than $20 billion.

Dow Chemical Co (DOW) rose 17 cents to $66.12 after the diversified chemicals manufacturer reported sales in the second-quarter ending in June soared 16% from a year ago to $13.8 billion.

Net income in the quarter tumbled 58.1% to $1.3 billion or $1.07 per diluted share from $3.1 million or $2.61 in the same quarter last year.

Facebook Inc (FB) jumped 4.2% or $6.95 to $172.56 after the social media services provider said revenues in the second-quarter ending in June surged 45.3% from a year ago to $9.3 billion.

Net income in the quarter soared 69.6% to $3.9 billion or $1.32 per diluted share from $2.3 billion or 78 cents in the same quarter last year.

Facebook said revenues in mobile advertising business jumped more than 50% to nearly $8 billion monthly active users increased 17% to $2 billion.

MasterCard Inc (MA) dropped 1.6% or $2.07 to $128.99 after the payment technology provider reported revenues in the second-quarter ending in June advanced 13% from a year ago to $3.1 billion.

Net income in the quarter jumped 20% to $1.2 billion or $1.10 per diluted share from $1 billion or 89 cents in the same quarter last year.

MasterCard said gross dollar volume transactions worldwide on the network increased 6% to $1.28 trillion.

Procter & Gamble Co (PG) gained 84 cents to $90.14 after the consumer packaged goods maker said revenues in the second-quarter ending in June were flat from a year ago to $16.1 billion.

Net income in the quarter surged 14% to $2.2 billion or 82 cents per diluted share from $1.9 billion or 69 cents in the same quarter last year.

Twitter Inc (TWTR) tumbled 13.8% or $2.71 to $16.90 after the social media services provider stated revenues in the second-quarter ending in June declined 5% from a year ago to $574 million.

Net loss in the quarter widened to $116 million or 16 cents per diluted share from $107 million or 15 cents in the same quarter last year.

Twitter''s average monthly active users increased 5% to 328 million and unchanged from last quarter and advertising revenue slumped 8% to $489 million.

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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