Ford (F) reported mixed results before the opening bell this morning. Earnings per share came in $0.06 below estimates at $0.25 a share. Revenue, however, came in nearly $2 billion better than expected. Ford attributed the miss on earnings to increased reserves for warranties on cars already on the road, as well as currency devaluations in South America.
After the close Thursday, Microsoft (MSFT) reported better-than-expected earnings. Revenue was roughly in-line, but both were down compared to last year. The company was helped by sales of software and the Xbox gaming console. Microsoft today also closed on its purchase of Nokia's handset business today. The $7.52 billion deal was agreed upon last September, but needed regulatory approval to proceed.
Amazon (AMZN) also reported earnings after the close. Earnings per share matched analysts' estimates of $0.23. Revenue was up 23% year over year and slightly better than expected. Amazon's CFO said the revenue growth was driven by new customers and products, overseas expansion and cloud computing. Amazon doesn't release figures on its Prime membership, but it did say Prime membership is increasing week to week, despite the $20 annual increase in the cost of the membership announced earlier this year.
Netflix (NFLX) reached a deal with three cable companies allowing their cable subscribers to watch Netflix as if the streaming service were a regular channel. The deal with RCN, Grande Communications and Atlantic Broadband will allow Netflix to go through TiVo set-top boxes provided by the cable companies. Cable subscribers must already have a subscription to Netflix.
Starbucks (SBUX) delivered an upbeat report after the close. Per share earnings were in-line and revenue rose but came up short of estimates. For the second time this year, the company raised its earnings outlook for the full year. The company is diversifying beyond its coffee business to include beer and wine sales and a wider variety of foods.
- Investment & Company Information
- Earnings per share