RIM, Oracle, Take-Two: After-Hours Trading
NEW YORK (
) --
Research in Motion
(RIMM)
saw heavy trading in after-hours action after the Blackberry maker outperformed Wall Street's expectations for its quarterly results.
The company
said it earned $911.1 million, or $1.74 a share, in its fiscal third quarter ended on Nov. 27
. The per share figure was up 58% from its profit of $1.10 a share in the same period a year earlier and a dime beyond the average estimate of analysts polled by
Thomson Reuters
for earnings of $1.64 a share. Revenue rose 40% year-over-year to $5.5 billion in the latest three months as smartphone shipments swelled by the same percentage to 14.2 million.
The stock was last quoted at $60.20, up 1.6%, on after-hours volume of 5.4 million, according to
Nasdaq.com
. It rose as high as $62.50 earlier in the extended session. Based on a regular session close at $59.24, the shares were down about 12.4% so far in 2010.
Research in Motion also forecast earnings of $1.74 to $1.80 a share for its fiscal fourth quarter ending on Feb. 26 with revenue projected between $5.5 billion and $5.7 billion. That view compares to the current consensus estimate for a profit of $1.61 a share in the February period.
Oracle
Oracle
(ORCL) - Get Report
was battling Research in Motion for the spotlight in late trades after issuing its own quarterly report. At last check, the stock had advanced to $31.58, a gain of more than 4%, in late trades with volume running at 2.9 million.
The rally was fueled by a
strong fiscal second-quarter performance from the Redwood Shores, Calif.-based software giant
. Oracle posted an adjusted profit of $2.6 billion, or 51 cents a share, on revenue of $8.65 billion for the quarter ended Nov. 30.
The performance topped the average estimate of analysts polled by
Thomson Reuters
for earnings of 46 cents a share on revenue of $8.34 billion. New software license sales were a bright spot, increasing 21% year-over-year to $2 billion, above Wall Street expectations of $1.87 billion.
2010 has been a strong year for Oracle's stock, which was up 24.3% year-to-date based on its regular session close at $30.27. Sentiment about the company was already positive ahead of the report. Of the 44 analysts covering the shares, 34 were at either strong buy (15) or buy (19). The above-consensus number was the fifth straight quarter that Oracle beat the analysts' average view.
Take-Two Interactive
Shares of
Take-Two Interactive
(TTWO) - Get Report
leapt in late trades after the New York-based video game developer reported a blowout profit for its latest quarter as new titles performed well.
Take-Two said its adjusted earnings from continuing operations totaled $64 million, or 67 cents a share, for the three months ended Oct. 31, up from a year-ago equivalent profit of $7.9 million, or 10 cents a share, and more than doubling Wall Street's consensus EPS view of 31 cents. Revenue rose 65% year-over-year to $1.16 billion in the October period.
"We have achieved our goal of profitability in a year without a new release of
Grand Theft Auto
," said Ben Feder, the company's CEO, in a statement. "Our better-than-expected revenue growth and margin expansion were driven by strong demand for our diverse portfolio of games, including the hit new titles
Red Dead Redemption
and
NBA 2K11
, as well as strong sales of catalog titles and digitally delivered content."
The stock was last quoted at $12.72, up 6.5%, according to
Nasdaq.com
, on volume of around 270,000. Based on a regular session close at $11.94, the shares are up 19.4% year-to-date.
Smart Modular Technologies
Shares of
Smart Modular Technologies
(SMOD)
took a hit in late trades, weighed down by disappointing outlook. The stock fell almost 10% to $5.74 on after-hours volume of around 90,000.
While the Newark, Calif.-based maker of memory modules and solid state storage products did top Wall Street's profit view for its fiscal first quarter ended on Nov. 26 by almost 10%, it also said it expects non-GAAP earnings of 9 to 11 cents a share for the February-ending period on revenue ranging from $165 million to $185 million.
That view compares unfavorably to the current average estimate of analysts polled by
Thomson Reuters
for a profit of 19 cents a share for its fiscal second quarter on revenue of $197.4 million.
"Although we are going through a period of significant DRAM
digital random access memory pricing declines, we expect such pricing declines to be temporary and we believe that our strong customer relationships and operational excellence will enable us to remain solidly profitable and successful as the year unfolds," said Iain MacKenzie, the company's president and CEO.
--
Written by Michael Baron in New York.
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