Earnings Roundup: AAPL, YHOO, GILD, STX, BSX, VMW
Tuesday, July 20, 2021 7:01 PM

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Apple (NASDAQ: AAPL) on Tuesday reported third-quarter earnings that blew past Wall Street expectations on the back of record Mac sales, and the company gave an upbeat revenue forecast, sending its shares up more than 2 percent in after-hours trading. Net income soared to $3.25 billion or $3.51 per share, from $1.83 billion or $2.01 per share in the prior-year quarter. Revenue jumped 61% to $15.7 billion from $9.734 billion in the same quarter last year. Analysts, on average, expected the company to report earnings of $3.11 per share on revenue of $14.75 billion. Looking ahead, the company said that it expects to report fourth-quarter earnings of $3.44 per share on revenue of $18 billion.

Yahoo Inc. (NASDAQ: YHOO) said late Tuesday that its second-quarter net income climbed to $213.3 million, or 15 cents a share, from $141.4 million, or 10 cents a share, in the year-earlier quarter. Revenue rose 2% to $1.60 billion from $1.57 billion. Analysts, on average, expected the company to report earnings of 14 cents per share on revenue of $1.16 billion. Looking ahead, the company said that it expects third quarter revenue in the range of $1.570 billion to $1.650 billion.

Gilead Sciences Inc. (NASDAQ: GILD) said Tuesday that its second-quarter net income rose to $712.1 million or 79 cents per share, from $571.4 million, or 61 cents per share, in the comparable quarter last year. Adjusted net income was $760.7 million or $0.85 per share, compared to $648.9 million or $0.69 per share in the year-ago period. Revenue increased 17% to $1.93 billion from $1.65 billion. Analysts, on average, expected the company to report earnings of 87 cents per share on revenue of $1.96 billion. 

Seagate Technology Plc (NASDAQ: STX) reported Tuesday that it swung to fiscal fourth-quarter profit of $379.00 million, or 76 cents per share, compared to a net loss of $83.00 million, or 17 cents per share, in the corresponding quarter last year. Revenue grew to $2.66 billion from $2.35 billion. Analysts, on average, expected the company to report earnings of 77 cents per share on revenue of $2.85 billion. Shares of Seagate Technology climbed 26 cents or 1.82% to $14.53.

Juniper Networks, Inc. (NASDAQ: JNPR) said that its second-quarter net income surged to $130.51 million, or 24 cents per share, from $14.77 million, or 3 cents per share, in the comparable quarter last year. Adjusted earnings totaled $163.95 million or 30 cents per share, up from $103.80 million or 19 cents per share in the prior-year quarter. Revenue jumped to $978.30 million to $786.36 million. Analysts, on average, expected the company to report earnings of 29 cents per share on revenue of $953.59 million.

Boston Scientific Corp. (NYSE: BSX) said Tuesday that its second-quarter net income dropped to $98 million, or 6 cents per share, from $158 million, or 10 cents per share, in the year-earlier period. Adjusted earnings totaled $190 million or 12 cents per share in the latest quarter. Revenue rose to $1.928 billion from $2.074 billion. Analysts, on average, expected the company to report earnings of 3 cents per share on revenue of $1.91 billion. The company also revised its full year 2010 financial guidance. The company now expects net sales in the range of $7.6 billion and $7.9 billion for the full-year. Adjusted earnings are anticipated to range between 54 cents and 62 cents per share. The company now expects to report a net loss between $0.91 and $0.81 per share. Analysts currently expect the company to report earnings of 28 cents per share on revenue of $7.82 billion for fiscal 2010. Shares of the medical device maker surged more than 2% in extended trading.

VMware Inc. (NYSE: VMW) reported late Tuesday that its second-quarter net income jumped to $75 million, or 18 cents per share, from $33 million, or 8 cents per share, in the same quarter last year. Adjusted net income jumped to $142 million, or 34 cents per share, from $80 million, or 20 cents per diluted share, in the year-earlier quarter. Revenue grew 48% to $674 million. Analysts, on average, expected the company to report earnings of 32 cents per share on revenue of $656.41 million. Looking ahead, the company boosted its fiscal 2010 revenues outlook to a range of $2.725 billion to $2.8 billion, from its previous forecast in the range of $2.625 billion to $2.725 billion. Analysts currently expect the company to report revenue of $2.71 billion for fiscal 2010.

Disclosure: Author doesn’t own any of the stocks discussed here.

 

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Market news:

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    • CANBERRA, Australia - An American man returns on Thursday to the United States where he could face prosecution for drowning his wife during their 2003 honeymoon on the Great Barrier Reef, a crime for which he has served 18 months in an Australian prison.
    • Gabe Watson, 33, was deported on a commercial flight Thursday from the southern Australian city of Melbourne to Los Angeles accompanied by two Immigration Department staff and three Queensland state police officers, Immigration Minister Chris Bowen said.
    • Australia, a stanch opponent of capital punishment, delayed his deportation until it received a pledge from the U.S. government that it would not seek the death penalty against Watson.
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        • INCHEON, South Korea - South Korea's president vowed Thursday to boost troops on an island targeted by a North Korean artillery barrage, while the North stridently warned of additional attacks if the South carries out any "reckless military provocations."
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                • The goal of "Coordinated Operation Northeast" is to reinforce government authority in the two states most heavily affected by a surge in violence following a split between the Gulf and Zetas drug gangs, federal police spokesman Alejandro Poire said.
                • But in a media briefing with all federal security officials and governors of Nuevo Leon and Tamaulipas, the affected states, Poire provided no details or numbers of reinforcements and answered no questions.
                  • Powerful storm to bring snow, ice to the Dakotas Nov 25, 2021 12:44 AM

                    • BISMARCK, N.D. - A powerful storm that pummeled much of the West is promising to bring its chaotic mix of snow, sleet and ice to much of the Dakotas on Thanksgiving Day.
                    • Meteorologists warned residents in the Dakotas to expect a range of messy wintery weather, from freezing drizzle in the eastern two-thirds of South Dakota to a possible blizzard in eastern North Dakota.
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