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Wednesday, April 25, 2012

Apple Inc. Soars on Earnings (AAPL, NFLX, PNRA, CRAY)



Apple Inc.(NASDAQ:AAPL) shared rebounded sharply this morning as the world’s largest company by value reported a much higher than anticipated second quarter earnings on improved iPhone sales. The company earned $11.6 billion, or $12.30 per share, up 93% from a year ago profit of $6 billion, or $6.40 per share. Revenue during the latest quarter grew 59% to $39.2 billion. Analysts were estimating the company to report $10.07 per share on revenue of $36.96 billion. However, the company projects to earn $8.68 per share on revenue of $34 billion in the current quarter, compared to analysts estimates of $9.95 per share on revenue of $37.40 billion.

The company sold 35.10 million iPhones in the quarter, much higher from the optimistic estimates as well as whisper numbers of 31.73 million. The company sold 11.8 million iPads, lower than some estimates for 12 million to 13 million units. Mac computer unit sales of 4 million were also below average estimates for 4.3 million to 4 million, though such a result has been rumored for weeks now.Shares of AAPL were recently higher by over 9% to $611.43.

Netflix, Inc.(NASDAQ:NFLX) continued to slid on Wednesday after slumping in the previous trading session as the company provided lackluster subscribers growth for the current quarter. In the first quarter, the company swung to a loss of $4.6 million or 8 cents a share, from a year ago profit of $60.2 million. However, losses were much below analysts’ forecast of 27 cents. Revenue during the quarter grew 21% year-over-year to $870 million. The company added 1.7 million U.S. streaming customers in the quarter, while losing about 1.1 million U.S. DVD subscribers.The company expects its net additions to be below 2010's level with projections of 23.6 million and 24.2 million subscribers, at a calculated increase of 200K-800K streaming subscribers. Analysts were estimating additions of 781,000 online users. The DVD business was expected to lose 623,000 customers this quarter.The company projects to a loss of as much as 10 cents a share, to a profit of $8 million, or 14 cents. on sales of $873 million to $895 million, analysts were estimating $895.11 million in revenue.

Panera Bread Co(NASDAQ:PNRA) shares surged 7.19% to $158.91 as the company reported much higher than anticipated first-quarter earnings. The company reported net income of $41.2 million, or $1.40 a share, up from a year ago profit of $32.8 million, or $1.09 a share, ahead of its own estimate of $1.33 to $1.35. Revenue grew 18% to $498.6 million.
Moreover, the company lifted its full-year earnings guidance by 8 cents from its February view, now forecasting $5.58 to $5.63 a share. For the second-quarter, the company projects to earn $1.40 to $1.43, ahead of analysts’ target of $1.40 a share. Panera's operating margin widened to 13.5% from 12.6%, as commodity costs begin to subside.
 
Cray Inc.(NASDAQ:CRAY) is the biggest percentage gainer and soared 25% to $8.79 as the company reached an agreement Intel Corporation(NASDAQ:INTC) to sell its interconnect hardware development program and related intellectual property for $140 million in cash. Moreover, the stock made a new 52-week high of $9.19 earlier in the session

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