Earnings Roundup: EBAY, SBUX, QCOM, NFLX, BIDU, ISRG
Wednesday, July 21, 2021 8:02 PM

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EBay Inc. (NASDAQ: EBAY) said late Wednesday that its net income rose 26% from last year, helped by a record performance at its PayPal online payments unit. Net income rose to $412 million or 31 cents a share, from $327 million or 25 cents a share in the prior-year quarter. On an adjusted basis, the company earned $530 million, or 40 cents a share, in the year-ago quarter. Revenue rose 6% to $2.22 billion from $2.10 billion in the same quarter last year.  Analysts, on average, expected the company to report earnings of 38 cents per share on revenue of $2.17 billion. Looking ahead to the third quarter, eBay expects GAAP earnings in the range of 26 cents to 28 cents per share, non-GAAP earnings in the range of 35 cents to 37 cents per share, and net revenues in the range of $2.13 billion to $2.18 billion, excluding Skype. Analysts currently expect the company to report earnings of 39 cents per share on revenue of $2.21 billion. For the full year 2010, eBay now anticipates GAAP earnings in the range of $1.23 to $1.28 per share, non-GAAP earnings of $1.60 to $1.65 per share, and net revenues in the range of $8.8 billion to $9.0 billion, excluding Skype. The consensus estimate is for EPS of $1.64 per share on revenue of $8.99 billion for the year 2010. Shares of the company rallied 3.27% to $20.38 in after-hours trading.

Starbucks Corp. (NASDAQ: SBUX) reported late Wednesday that its fiscal third-quarter net income rose to $207.9 million, or 27 cents a share, from $151.5 million, or 20 cents a share, in the year-earlier quarter. On an adjusted basis, the company earned 29 cents a share. Revenue increased 8.7% to $2.61 billion from $2.4 billion. Analysts, on average, expected the company to report earnings of 29 cents per share on revenue of $2.55 billion. Looking ahead, the company said it now anticipates fiscal 2010 non-GAAP earnings in the range of $1.22 to $1.23 per share, compared to its prior outlook in the range of $1.19 to $1.22 per share. Analysts currently expect the company to report earnings of $1.23 per share for the fiscal year 2010. For the fiscal year 2011, the company anticipates earnings in the range of $1.36 to $1.41 per share. Analysts currently expect the company to earn $1.41 per share for the fiscal year 2011.

Qualcomm Inc. (NASDAQ: QCOM) said that its fiscal third-quarter profit rose 4% from $767 million, or 47 cents a share, from $737 million, or 44 cents a share, in the comparable period last year. On an adjusted basis, the company earned 57 cents a share. Revenue slipped to $2.71 billion from $2.75 billion. Analysts, on average, expected the company to report earnings of 54 cents per share on revenue of $2.63 billion. Looking ahead, the company said it expects fourth quarter earnings on a GAAP basis to be in the range of 39 cents or 43 cents per share. On a pro forma basis, earnings are anticipated in the range of 55 cents to 59 cents per share. Revenue is expected to be in the range of $2.67 billion to $2.93 billion. Analysts currently expect earnings of 57 cents per share on revenue of $2.77 billion for the fourth quarter. For full year 2010, the company expects earnings on a GAAP basis to be in the range of $1.82 to $1.86 per share and revenues in the range of $10.70 billion to $11.0 billion. It had previously forecast GAAP earnings to be in the range of $1.71 to $1.82 per share and revenues to be in the range of $10.4 billion to $11 billion. On a pro forma basis, the company now expects earnings to be in the range of $2.33 to $2.37 per share and revenues in the range of $10.7 billion to $11 billion. It had previously estimated earnings between $2.21 to $2.32 and revenues between $10.4 billion to $11 billion. Analysts currently expect earnings of $2.31 per share on revenue of $10.72 billion for the full year 2010. Qualcomm shares jumped 5.09% to $38 in extended trading.

Netflix Inc. (NASDAQ: NFLX) said Wednesday that its second-quarter profit surged 34% to $43.5 million, or 80 cents a share, from $32.4 million, or 54 cents, in the year-earlier period. On an adjusted basis, the company earned 88 cents a share in the latest quarter. Revenue climbed to $519.8 million from $493.7 million. Analysts, on average, expected the company to report earnings of 71 cents per share on revenue of $524.44 million. Gross margin improved to 39.4% from 34.1%. Netflix ended the second quarter of 2010 with approximately 15,001,000 total subscribers, up 42% year-over-year from 10,599,000 total subscribers at the end of the second quarter of 2009. For the third-quarter, the company expects net income in the range of $33 million to $40 million, earnings per share in the range of 61 cents to 74 cents and revenue in the range of $546 million to $554 million. Analysts currently expect the company to report earnings of 68 cents per share on revenue of $551.70 million for the third-quarter. For the fourth-quarter, the company expects net income in the range of $32 million to $40 million, earnings per share in the range of 58 cents to 73 cents per share and revenue is expected in the range of $580 million to $596 million. The company also boosted its guidance for fiscal year 2010. Net income is expected to range from $141 million to $156 million, compared to its prior outlook in the range of $132 million to $144 million. It boosted its full year earnings per share guidance to a range of $2.58 to $2.86 per share from prior forecast in the range of $2.41 to $2.63 per share. Full-year revenue is expected to be in the range of $2.14 billion to $2.16 billion, compared to previous estimate in the range of $2.11 billion to $2.16 billion. Analysts currently expect the company to report earnings of $2.65 per share on revenue of $2.15 billion for fiscal year 2010. Netflix shares plunged more than 9% in evening trading.

Baidu Inc. (NASDAQ: BIDU) late Wednesday reported that its second-quarter profit surged to 837.4 million yuan ($123.5 million), or 2.40 yuan (35 cents) per American Depositary share, up from 383.3 million yuan, or 1.10 yuan per share, in the comparable quarter last year. Revenue jumped 74.4% to 1.91 billion yuan ($282.3 million) from a year ago. Analysts, on average, expected the company to report earnings of 31 cents per share on revenue of $276.73 million. Baidu shares surged more than 3% in post-market trading.

Intuitive Surgical Inc. (NASDAQ: ISRG) reported Wednesday that its second-quarter net income jumped to $88.7 million, or $2.19 a share, from $62.4 million, or $1.62 a share, in the corresponding quarter last year. Revenue climbed to $350.7 million from $260.6 million.  Analysts expected the company to report earnings of $2.04 per share on revenue of $334.94 million. Shares of the company slumped more than 6% in after-hours trading.

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

 

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