Verizon ( VZ) is forecast by Wall Street to post a first-quarter profit of 66 cents a share on revenue of $29.55 billion. Last year, Verizon earned 59 cents a share on revenue of $28.2 billion. Michael Rollins of Citigroup expects Verizon to report adding a net 650,000 new wireless devices on contract-based plans in the quarter, markedly down from 2.1 million added in the fourth quarter last year, when Apple's ( AAPL) iPhone 5 was new. Verizon added 501,000 devices in the first quarter of 2012.
Morgan Stanley ( MS) is forecast by analysts to report on Thursday first-quarter earnings of $1.14 billion, or 57 cents a share, on revenue of $8.35 billion.
Microsoft ( MSFT) reports earnings after Thursday's closing bell and Wall Street expects the software giant to post fiscal third-quarter earnings of 68 cents a share on revenue of $20.5 billion. Microsoft Is a Buy Before Earnings Release
eBay ( EBAY), the e-commerce giant, posted results on Wednesday that missed expectations. The company earned 63 cents a share on revenue of $3.7 billion for the quarter ended March 31. Analysts were expecting earnings of 62 cents a share on revenue of $3.76 billion. The company's PayPal business saw strong revenue growth, up 18% year over year to $1.5 billion. PayPal added another 5 million registered accounts to end the quarter with 128 million, as net total payment volume grew 21% to $41 billion. For the second quarter, eBay said it expects earnings between 61 cents and 63 cents a share. Sales are expected to be between $3.8 billion and $3.9 billion. Analysts are looking for profit of 66 cents a share on sales of $3.95 billion. eBay Slips as Revenue Falls Short
American Express ( AXP) said first-quarter net income rose 2%, beating estimates, as revenue climbed 4% to $7.88 billion. Revenue in the quarter fell short of analysts' expectations. American Express said spending by its cardholders rose 6%.
SanDisk ( SNDK), the flash memory chipmaker, posted first-quarter earnings on Wednesday that beat on both the top and bottom lines. SanDisk said first-quarter revenue increased 11% to $1.34 billion from a year earlier as solid state drive products drove 20% of sales. Analysts, on average, were expecting revenue of $1.31 billion. Sales fell 13% sequentially. The company posted first-quarter adjusted net income of $207 million, or 84 cents a share, beating the consensus earnings estimate of 79 cents. SanDisk Tumbles Amid Tech Sector Worries
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