IBM, Microsoft, Yahoo! Results: Tech Weekly

NEW YORK ( TheStreet) -- The first major week of earnings is over, and I'm sure most of us are glad it's the weekend.

We digested results from such technology luminaries as IBM ( IBM), Intel ( INTC), Microsoft ( MSFT) and eBay ( EBAY) throughout the week, with the majority of companies reporting solid results.

IBM started the earnings bonanza on Tuesday, reporting a mixed first quarter.

Armonk, N.Y.-based Big Blue brought in revenue of $24.67 billion and earnings of $2.78 a share, up from $24.6 billion and $2.41 a share in the same period in 2011. Analysts polled by Thomson Reuters were looking for $24.77 billion in revenue and earnings of $2.65 a share.

IBM's new CEO Ginni Rometty was pleased with the profit results, as the company continued to drive strong earnings growth.

"We delivered another excellent software performance, expanded services margins, and continued the momentum in our growth initiatives," Rometty said in the press release. "Our investments in growth-market countries continued to generate strong revenue growth across software, hardware and services while contributing to the company's ongoing margin expansion."

Big Blue also raised its full-year earnings outlook, saying it sees 2012 fiscal year earnings of at least $15 a share, up from $14.85.

For the week, IBM shares lost 1.58% to close at $199.60.

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Intel also had a negative reaction to its first-quarter report, despite reporting solid earnings.

The world's largest chipmaker reported non-GAAP earnings of 56 cents a share, on revenue of $12.9 billion for the first quarter. Analysts surveyed by Thomson Reuters were expecting EPS of 50 cents and $12.84 billion in sales.

Second-quarter guidance was higher than anticipated, but margins are expected to fall quarter over quarter, and that caused pressure on the stock. For the second quarter ending in June, Intel expects revenue of $13.6 billion, plus or minus $500 million, and margins between 62% and 63%, down from 65.1% in the first quarter. Wall Street estimates call for $13.45 billion in revenue.

Intel shares ended the week down 1.74% at $27.60.

Yahoo! ( YHOO) investors rewarded the Sunnyvale, Calif.-based Internet company for better-than-expected first-quarter results and more news about CEO Scott Thompson's plan to turn the company around.

Quarterly results came in at 23 cents a share on $1.08 billion in revenue. Analysts polled by Thomson Reuters were expecting earnings of 17 cents a share on $1.06 billion in revenue.

On the earnings call, Thompson discussed his turnaround plan, announcing Yahoo! would be cutting 50 yet-to-be-named properties. He also noted that talks are ongoing with Alibaba about monetizing a portion of its stake in the company.

Shares of Yahoo! finished the week up 3.93% at $15.60.

Sirius XM Radio ( SIRI) was also in the news this week, as a judge dismissed Howard Stern's lawsuit against his employer.

Shock jock Stern claimed he was owed an additional $300 million from his employer for meeting subscriber goals, a claim Sirius said was untrue. Judge Barbara Kapnick heard arguments from both sides and dismissed the case "with prejudice," meaning both Stern and his manager Don Buchwald cannot refile a suit with similar claims.

In her decision, Judge Kapnick noted that Stern's contract had "clear, unambiguous language," and as such, he was not entitled to any further compensation.

Shares of Sirius ended the week down 0.22% at $2.22.

Wednesday also saw major earnings announcements, with results from Apple supplier Qualcomm ( QCOM), eBay and F5 Networks ( FFIV).

Qualcomm reported better-than-expected earnings during the second quarter but gave weak third-quarter guidance on supply issues.

The San Diego-based semiconductor company reported EPS of $1.01 on $4.94 billion in revenue. Analysts polled by Thomson Reuters were looking for EPS of 96 cents on $4.84 billion in revenue.

Qualcomm said it's seeing supply constraints for its 28-nanometer chips, as demand is outpacing supply. It reaffirmed full-year revenue guidance and raised its non-GAAP full-year EPS estimate to between $3.61 and $3.76.

Shares of Qualcomm ended the week down 6.63% at $62.25.

eBay saw explosive growth in its PayPal unit, which helped it beat first-quarter estimates.

PayPal ended the quarter with 109.8 million registered accounts, and revenue soared 32% year over year because of "increased penetration on eBay as well as continued merchant and consumer adoption."

For the full quarter, eBay reported non-GAAP EPS of 55 cents on $3.28 billion in sales. Thomson Reuters said analysts on average were expecting EPS of 52 cents on revenue of $3.15 billion.

Shares of the online auction giant ended the week up 11.54% at $40.29.

Earnings from F5 Networks were exceptional as the networking-gear maker beat second-quarter estimates.

F5's second quarter revenue came in at $339.6 million, up from $277.6 million in the prior year's quarter. Analysts surveyed by Thomson Reuters were looking for sales of $335.4 million. The networking specialist earned $1.09 a share during the quarter, better than the $1.07 a share analysts were looking for.

For the third quarter ending in June, F5 believes it will generate between $350 million and $355 million in revenue and earn between $1.12 and $1.14 a share. Analysts are expecting revenue of $354.22 million and earnings of $1.14 a share.

Shares of F5 Networks ended the week up 7.79% at $131.63.

All eyes were on Microsoft Thursday afternoon, as the Redmond, Wash.-based software giant reported exceptionally strong third-quarter earnings.

The tech bellwether generated third-quarter EPS of 60 cents on $17.41 billion in revenue. Analysts polled by Thomson Reuters were looking for EPS of 57 cents on $17.16 billion in revenue.

Revenue for Windows and Windows Live came in at $4.62 billion during the quarter, stronger than many were expecting. Microsoft said the strength was primarily due to business PC upgrades, as IT departments across the globe continued to upgrade hardware.

Microsoft stock jumped 5.23% during the week to $32.42.

Verizon reported strong first-quarter earnings on Thursday, helped by solid customer additions in its wireless unit.

The telecom company reported EPS of 59 cents on $28.24 billion in revenue. Analysts polled by Thomson Reuters were looking for EPS of 58 cents on $28.17 billion in revenue. The New York-based telecom giant added 734,000 retail net customers during the quarter, including 501,000 retail postpaid customers.

Verizon continued to expand its FiOS business, adding 193,000 net new FiOS Internet connections and 180,000 net new FiOS Video connections. It now has 5 million and 4.4 million customers, respectively.

Shares of Verizon ended the week up 3.95% at $38.73.

Intel competitor AMD ( AMD) beat Wall Street estimates, helping push shares higher.

Excluding items, AMD reported EPS of 12 cents on $1.59 billion in revenue during the first quarter. Analysts surveyed by Thomson Reuters were looking for EPS of 9 cents on $1.56 billion in revenue.

For the second quarter, AMD expects revenue to increase 3% sequentially, plus or minus 3 percentage points.

Shares of AMD ended the week up 0.39% at $7.76.

Next week the excitement continues with earnings from Apple ( AAPL), Amazon.com ( AMZN), Netflix ( NFLX) and Baidu ( BIDU).

Interested in more on Baidu? See TheStreet Ratings' report card for this stock.

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-- Written by Chris Ciaccia in New York

>To follow the writer on Twitter, go to http://twitter.com/commodity_bull.

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