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Latest earnings news
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July 18, 2000: 6:00 p.m. ET
Microsoft, Intel, Apple beat forecasts,Time Warner,GM exceed estimates, Martin Marietta falls short
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NEW YORK (CNNfn) - Microsoft, Intel and Apple beat Wall Street forecasts Tuesday.Time Warner, General Motors Corp., three major U.S. airlines, Merrill Lynch & Co. and Coca-Cola Enterprises Inc. exceeded estimates, while Martin Marietta Materials, Unisys Corp. and Honeywell Corp. fell short of expectations.
Microsoft tops estimates
Microsoft Corp., (MSFT: Research, Estimates) reported fiscal fourth-quarter earnings of $2.41 billion, or 44 cents per share, up from $2.2 billion, or 40 cents per share, in the same period last year. Analysts had expected the company to report earnings of 42 cents per share, according to earnings tracker First Call. Microsoft said revenues exceeded analysts' expectations, aided by more than $1 billion in gains from investments.
Intel beats forecast
Intel Corp. (INTC: Research, Estimates) reported a second-quarter earnings of $3.5 billion, or 50 cents per share, up 98 percent from last year's second quarter, and up 16 percent from the company's first-quarter results. The latest results also have been adjusted to reflect a 2-for-1 stock split payable July 30 to shareholders of record on July 2. On a pre-split basis, Intel posted operating earnings of $1 per share, 2 cents ahead of the 98 cents per share analysts polled by earning tracker First Call had expected.
Apple edges by
Apple Computer Inc. (AAPL: Research, Estimates) reported second-quarter earnings of $200 million, or 55 cents a share, in the three months ended July 1, down from $203 million or 60 cents a share in the same period a year ago. Excluding one-time gains, Apple earned 45 cents a share in the latest period, a penny ahead of Wall Street estimates.
[click here for full story]
 Philip Morris on target
Philip Morris Cos. (MO: Research, Estimates) reported second-quarter earnings of $2.2 billion, or 95 cents per share, in line with a survey of analysts by earnings tracker First Call. In the year-earlier quarter, the company reported earnings from operations of $2.1 billion, or 85 cents a diluted share.[click here for full story]
Martin Marietta misses the mark
Martin Marietta Materials Inc. (MLM: Research, Estimates) reported slightly higher second-quarter earnings of $42.1 million, or 90 cents per diluted share, from $41.3 million, or 88 cents per diluted share, a year earlier. The company said profits for the quarter rose 2 percent, and would have increased even more except for higher fuel costs. Analysts had expected the company to earn 94 cents a share. [click here for full story]
Time Warner beats Street
Gains posted by Time Warner Inc.'s (TWX: Research, Estimates) cable networks and publishing units helped the media company outpace Wall Street expectations in the second quarter by 3 cents a share. Time Warner Inc. reported second-quarter earnings fell 3 percent to $145 million, or 11 cents a share, from $150 million, or 12 cents, a year earlier.
Analysts polled by earnings tracker First Call had expected 8 cents a share. The results beat the most aggressive of forecasts, which ranged from 7 cents a share to 10 cents a share. Time Warner is the parent company of CNNfn. [click here for full story]
General Motors (GM: Research, Estimates) reported second-quarter profit of $2.93 a share, topping Wall Street forecasts of $2.82 a share and its results of $2.66 a share a year earlier. The world's largest automaker said it was a record profit for the quarter. Sales rose 8 percent to about $48.7 billion. [click here for full story]
Airlines post strong results
Two major U.S. airlines posted better-than-expected profit as strong demand for seats helped them deal with soaring costs. Continental Airlines Inc. (CAL: Research, Estimates), the nation's fifth-largest airline, and discount carrier Southwest Airlines Inc. (LUV: Research, Estimates) managed higher profits despite rising fuel prices, while America West Holdings Corp. (AWA: Research, Estimates) saw profit slip. [click here for full story]
Brokers post mixed 2Q
Merrill Lynch (MER: Research, Estimates) handily beat Wall Street's second-quarter forecast Tuesday, and announced a 2-for-1 stock split.. But market volatility hurt DLJdirect (DLJ: Research, Estimates), which posted a wider-than-expected loss and Charles Schwab Corp. (SCH: Research, Estimates), which just matched estimates. [click here for full story]
Unisys falls short of lowered estimates
After issuing two earnings warnings earlier this year, Unisys (UIS: Research, Estimates) a computer services provider posted Tuesday second-quarter earnings that fell short of analysts' already lowered estimates, and issued yet another earnings warning. [click here for full story]
Johnson & Johnson profit up
Johnson & Johnson Inc. (JNJ: Research, Estimates) said second-quarter profits were 94 cents a share, 2 cents above Wall Street forecasts and up 14 percent from year-earlier results. The No. 2 U.S. drug maker, whose products include Tylenol pain relievers and Band-Aid bandages, said sales rose nearly 8 percent to $7.5 billion. [click here for full story]
Aetna warns on 2Q
Aetna Inc. (AET: Research, Estimates) warned that second-quarter earnings would probably come in at 85 to 95 cents a share, versus forecasts of $1.20 a share on Wall Street. The health insurer cited increased costs running its HMO networks. [click here for full story]
Honeywell profit in line
Diversified manufacturer Honeywell International Inc. (HON: Research, Estimates) met lowered earnings expectations for the quarter. [click here for full story]
Coca-Cola bottler rebounds with strong profit
Coca-Cola Enterprises Inc. (CCE: Research, Estimates), the world's largest bottler of Coca-Cola soft drinks, reported second-quarter earnings of $122 million, or 29 cents a share, compared with $33 million, or 8 cents a share, in the year-earlier period. First Call expected the company to earn 28 cents a share.
Nextel loss worse than expected
Nextel (NXTL: Research, Estimates) reported a loss of $292 million, or 38 cents a share, compared with a year-earlier loss of $315 million, or 52 cents a share. Analysts had expected a loss of 36 cents a share. [click here for full story]
Visteon loses ground but beats estimates
Ford Motor Co. (F: Research, Estimates) spinoff Visteon Corp. (VC: Research, Estimates), the world's No. 2 auto parts supplier, reported second-quarter earnings of $162 million, or $1.25 a share, compared with $280 million, or $2.15 a share, in the year-earlier period. First Call expected Visteon to earn $1.13 a share.
Schlumberger eases past forecasts
Schlumberger Ltd. (SLB: Research, Estimates), the world's No. 2 oilfield services company, reported second-quarter earnings of $156 million, or 27 cents a share, compared with $91 million, or 16 cents a share, in the year-earlier period. First Call expected the company to earn 26 cents a share.
Weyerhaeuser trumps predictions
Lumber and paper company Weyerhaeuser Co. (WY: Research, Estimates) reported second-quarter earnings of $285 million before one-time items, or $1.25 a share, compared with $164 million, or 82 cents a share, in the year-earlier period. First Call expected the company to earn $1.19 a share.
Royal Philips Electronics profit jumps
Royal Philips Electronics NV reported better-than-expected profit for the latest quarter. Europe's biggest electronics company, which makes light bulbs, computer chips and other products, said earnings rose to 699 million euros ($654 million) from 274 million euros a year earlier. Analysts expected the company to earn 642 million euros, according to Reuters. [click here for full story]
Wells Fargo matches estimates
Wells Fargo (WFC: Research, Estimates), the No. 7 U.S. banking company, on Tuesday posted a 12 percent increase in second-quarter profits, matching forecasts as investment gains and trust fees made up for margin pressure stemming from rising interest rates. [click here for full story]
DoubleClick narrows loss
Internet advertising firm DoubleClick Inc. (DCLK: Research, Estimates) on Tuesday reported lower-than-expected second-quarter losses and a growth in revenue despite concerns of a slowdown in dot.com ad spending. [click here for full story]
Broadcom 2Q profit soars
Broadcom Corp., which designs semiconductors for cable modems, TV set-top boxes and home networking, posted Tuesday second-quarter earnings that beat Wall Street expectations and nearly tripled from a year ago. [click here for full story]
-- compiled by Tatiana Helenius, Mark Gongloff and Parija Bhatnagar
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