First-Quarter Earnings Announcements
TheStreet.com
is compiling all of its earnings news and analyses in one convenient location to make it easier for our readers to see where earnings are headed. We will update this section as soon as earnings reports arrive. To keep track of what's coming, we have a daily earnings
preview as well as a weekly earnings
calendar.
Tuesday's Earnings
AT&T Meets Expectations as Earnings Tumble
The company will also lay off 6,200 employees by the end of the year.
Also Tuesday
Telephone giant
AT&T
(T) - Get Report
reported earnings per share of 53 cents, in line with a 15-analyst estimate according to
First Call/Thomson Financial
, but down from same time last year's 61 cents. The company, which plans to acquire cable television company
MediaOne Group
(UMG)
, said its first-quarter operating profits fell 13.1%, as merger costs and declining consumer sales offset strong sales of wireless and business services.
Beverly Enterprises
(BEV)
posted first-quarter earnings of 6 cents a share, in line with both the 11-analyst estimate and the year-ago report.
Emerson Electric
(EMR) - Get Report
reported second-quarter earnings of 82 cents a share, a penny better than the 11-analyst estimate and up from the year-ago 74 cents. The company said it is confident that its fiscal 2000 earnings will fall in line with earlier expectations but said that its positive outlook is moderated by slowness in the automation market recovery and ongoing devaluation of the euro. The 11-analyst estimate expects the company to post a fiscal 2000 profit of $3.31.
Expedia
(EXPE) - Get Report
posted a third-quarter loss of 40 cents a share, narrower than the four-analyst estimate of a 57-cent loss. The company does not have a year-ago per share comparison because its IPO was held in November 1999. The Web travel service, which is 85%-owned by
Microsoft
(MSFT) - Get Report
, posted revenues of $31.9 million, greatly surpassing the year-ago report of $11.2 million. Expedia attributed the strong results to the success of its hotel room and tour package sales.
Storage Tech
(STK) - Get Report
reported a first-quarter loss of 22 cents a share, narrower than the six-analyst estimate of a 24-cent loss but down from the year-ago 6-cent profit.
