Netflix (NFLX) beat Wall Street estimates by a mile and offered an upbeat outlook going forward. The company posted profits of 70 cents a share, beating estimates of 66 cents. Revenue rose to $1.18 billion beating estimates of $1.17 billion Netflix also said it added 2.3 million Americans to its streaming service in the last quarter, better than expected and up 14% from a year ago. It projects adding 2.25-million U.S. users in the next quarter, another number investors liked. The company also mentioned the possibility of pricing changes to its DVD and streaming services for new members.
eBay (EBAY) beat earnings estimates by a penny posting profits of 81 cents a share, though they did miss on revenue posting $4.53 billion vs estimates of $4.54 billion. eBay attributes the beat to a strong holiday season for its e-commerce site and PayPal. Shares also rose after billionaire activist investor Carl Icahn urged eBay to spin-off PayPal into a separate company.
McDonald's (MCD) posted earnings this morning of $1.40 beating estimates by a penny. Revenue missed coming in at $7.09 billion vs estimates of $7.11 billion. The company also reported a decline in comparable store sales for December versus estimates they would remain flat. The company called 2013 a "challenging year."
Lockheed Martin (LMT) reported lower than expected earnings this morning as it saw profits fall 14%, and also reported a decline in revenue, citing defense budget cuts and workforce reductions. Profits came in at at $1.50 down from last year's posting of $1.73. Revenue fell to $11.5 billion from last year's $12.1 billion. The world's largest defense contractor raised its guidance though for next year, predicting a 17% increase in profits.
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