The gadget maker reported earnings of $6.62 billion, or $7.05 a share, on revenue of $28.27 billion for the quarter. The average estimate of analysts polled by Thomson Reuters was for a profit of $7.39 a share in the period on revenue of $29.69 billion. This is just the third time the company has missed the consensus view since 2002.
Shares were falling 5.4% to $399.53 in premarket trading Wednesday.
Lighting company Cree (CREE) sees non-GAAP earnings of 25 cents to 28 cents a share for the second quarter with revenue projected between $300 million and $320 million. The current average estimate of analysts polled by Thomson Reuters is for a profit of 33 cents a share in the second quarter on revenue of $310 million. Shares were slumping 6.4% to $26.
Chipmaker Intel (INTC) blew past Wall Street expectations for its third-quarter earnings as revenue jumped nearly 30% from year-ago levels. The chip giant reported adjusted earnings of $3.7 billion, or 69 cents a share, for the quarter with revenue totaling $14.3 billion. The average estimate of analysts polled by Thomson Reuters was for earnings of 61 cents a share in the period on revenue of $13.88 billion. Shares were rising 3.7% to $24.27.
Internet firm Yahoo! (YHOO) turned in solid quarterly performance in Thursday, despite the turmoil in its C-suite and swirling speculation about whether the company should continue to go it alone or put itself on the auction block. The company reported third-quarter earnings of $293 million, or 23 cents a share, with revenue excluding traffic acquisition costs, or TAC, coming in at $1.07 billion. On an adjusted basis, excluding one-time items, Yahoo! earned 21 cents a share in the latest quarter. Shares were spiking 3.4% to $16.
Airline operator AMR (AMR) is expected to report a third-quarter loss of 41 cents a share before the markets open, declining from earnings of 39 cents a share in the year-ago period. Shares were falling 1.8% to $2.77.
Online auction firm eBay (EBAY) is expected by analysts to report third-quarter earnings of 48 cents a share Wednesday, rising from earnings of 40 cents last year. Shares were rising 1.1% to $34.25.
Financial services firm Morgan Stanley (MS) posted third-quarter profit of $1.14 a share, beating the average analyst estimate of 30 cents. Earnings were helped by a significant accounting gain from the falling value of Morgan Stanley's own debt. Shares were down 0.9% to $16.48.
United Technologies (UTX) said third-quarter revenue jumped 8.7% from a year earlier and profit rose 9.4% on continued organic growth across its six businesses and favorable foreign currency translation. The Hartford, Conn.-based corporation earned $1.32 billion, or $1.47 a share, on revenue of $14.8 billion. Analysts' estimates as polled by Yahoo! Finance expected earnings of $1.45 a share along with $14.55 billion in revenue. Shares were up 0.9% to $74.80.
Payments company American Express (AXP) is expected by analysts to report third-quarter profit of 96 cents a share after the markets close, increasing from earnings of 90 cents in the year-ago period. Shares were trading sideways at $46.69.
Travelers (TRV) reported third-quarter operating earnings of $332 million, or 79 cents a share , down from an operating profit of $858 million, $1.81 a share, in the same period last year. The average estimate of analysts polled by Thomson Reuters was for operating earnings of 99 cents a share. -- Written by Andrea Tse in New York.
>To contact the writer of this article, click here: Andrea Tse.
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