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Latest earnings news
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April 19, 2000: 5:40 p.m. ET
Lucent, Chase, Warner-Lambert lead parade of better-than-expected results
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NEW YORK (CNNfn) - Major companies reporting good earnings news Wednesday included Lucent Technologies, which saw a 41 percent jump in profit in the first quarter, and Chase Manhattan Corp., whose earnings rose 16 percent.
Qwest Communications, PepsiCo and Apple also joined the host of companies beating analysts' estimates. Excite@Home was a notable exception, posting a loss when analysts had expected the company to break even.
Quarterly earnings have generally been strong this reporting period, according to First Call, which compiles analysts' predictions of companies' quarterly earnings. Through noon Wednesday, 215 of the S&P 500 companies had reported, and they had beaten analysts' estimates by an average margin of 6.7 percent, First Call said. Companies had also beaten their own numbers in the year-ago quarter by an average margin of 22.4 percent, First Call said.
Lucent profit up 41 percent
Lucent Technologies' earnings rose to $754 million, or 23 cents a share, in its second fiscal quarter, ended March 31, from $533 million, or 17 cents a share, a year earlier. That topped forecasts of 22 cents a share, according to First Call. The nation's biggest maker of telecom equipment also announced a shift in how it will make and develop new communications products. [Click here for full story]
Apple's earnings above estimates
Apple Computer Inc. reported second-quarter earnings of $160 million before extraordinary items, or 88 cents a diluted share, compared with $93 million, or 60 cents a share, in the year-earlier period. First Call's consensus estimate was 81 cents a share. [Click here for full story]
Excite@Home posts loss
Internet service company Excite@Home reported a third-quarter, pro-forma loss of $4.6 million, or one cent a share, excluding extraordinary items. First Call's consensus estimate was for the company to break even. The company's loss came despite a 75 percent jump in revenue and a 220 percent increase in total subscribers from a year ago. [Click here for full story]
Chase Manhattan beats Street
Chase Manhattan Corp. reported first-quarter earnings of $1.59 a share, topping forecasts of $1.55 a share and the $1.32 a share the No. 2 U.S. bank earned a year earlier. Investment banking fees doubled in the quarter while income from trading for its own account rose 25 percent, the New York-based bank said. [Click here for full story]
SYSCO's profits better than expected
SYSCO, America's largest food service, marketing and distribution organization, reported third-quarter earnings of $102 million, or 31 cents a share, compared with $72.6 million, or 22 cents per share, for the same period a year ago. First Call's consensus estimate was 29 cents a share. [Click here for full story]
Nabisco profits up 29%
Food company Nabisco Holdings Corp., which is up for auction, reported first-quarter earnings of $60 million, or 22 cents a share, a 29 percent jump from the 17 cents a share it posted a year ago and 2 cents better than Wall Street expected. [Click here for full story]
DLJ earnings double
Investment bank Donaldson Lufkin and Jenrette reported earnings of $245.2 million, or $1.72 per diluted share, compared with $121.7 million, or 84 cents a share, for the year-earlier quarter. Analysts surveyed by First Call expected earnings of $1.29 a share. [Click here for full story]
Warner-Lambert profit climbs well past estimates
Consumer products and drug company Warner-Lambert, which recently announced a merger with Pfizer Inc., reported first-quarter earnings of $516 million before extraordinary items, or 58 cents a diluted share, compared with earnings of $382 million, or 43 cents a share, in the year-earlier quarter. First Call's consensus estimate was 37 cents a share. [Click here for full story]
Jilted bride AHP sees earnings rise
American Home Products, whose proposed merger with Warner-Lambert was recently cancelled, posted first-quarter earnings of $635 million, or 48 cents a share, up from the $538.1 million, or 40 cents a share, it earned a year earlier. AHP's earnings matched First Call's consensus estimate. [Click here for full story]
Boeing weathers strike to beat predicted profit
Despite a strike by engineering employees that hurt its profits, aerospace manufacturer Boeing Co. reported first-quarter earnings of $359 million, or 41 cents a diluted share, down from $469 million, or 50 cents a share, in the year-earlier quarter, but beating First Call's consensus estimate of 35 cents a share. [Click here for full story]
PepsiCo's profit up, squeaks by estimates
Soft-drink maker PepsiCo reported first-quarter earnings of $422 million, or 29 cents a diluted share, up from the $333 million, or 22 cents a share, in the year-earlier period. First Call's consensus estimate was 28 cents a share. [Click here for full story]
United, TWA surprise analysts
United Airlines' parent UAL Corp. reported first-quarter earnings of $191 million, or $1.61 a share, excluding two one-time charges. Analysts surveyed by First Call had expected earnings to fall to $1.37 a share from the $187 million, or $1.54 a diluted share, it earned from operations in the year-earlier period.
Trans World Airlines reported a loss of $63.9 million, or 98 cents a share, before extraordinary items. While that was wider than the 62 cents a share loss it reported a year earlier, it was below the First Call forecast of a $1.37 a share loss. [Click here for full story]
Qwest Communications tops forecasts
Qwest Communications International Inc. reported a profit of $30 million, or 4 cents a share, excluding one-time items, versus $4.8 million, or 1 cent a share, a year ago. Analysts polled by First Call had expected the No. 4 U.S. long-distance telephone company to earn 3 cents a share.
Colgate-Palmolive beats estimates by a penny
Colgate-Palmolive, a major household products maker, reported first-quarter earnings of $239.9 million, or 38 cents a diluted share, up from $208.9 million, or 32 cents a share, in the year-earlier period. First Call's consensus estimate was 37 cents a share. [Click here for full story]
Mattel's loss less than expected
Toy maker Mattel reported a narrower-than-expected first-quarter loss of $6.2 million excluding one-time items, or 1 cent a share, compared with a net loss of $12.6 million, or 3 cents a share, in the year-ago quarter. First Call's consensus estimate was a loss of 3 cents a share. [Click here for full story]
Knight/Trimark Group earnings leap
Knight/Trimark Group Inc. said first-quarter profit more than tripled to $135.6 million, due partly to trading by online investors. The company, the biggest middleman on the Nasdaq stock market, earned $1.07 a diluted share, trouncing its year-earlier results and Wall Street forecasts. [Click here for full story]
General Dynamics earnings beat forecast
Defense company General Dynamics reported first-quarter profit of $184 million, or 91 cents a diluted share, up from $158 million after extraordinary items, or 78 cents a share, in the year-earlier quarter. First Call's consensus estimate was 88 cents a share.
United Technologies beats Street
United Technologies reported first-quarter earnings of $377 million, or 74 cents a diluted share, up from $278 million, or 57 cents a share, in the year-earlier quarter. First Call's consensus estimate was 72 cents a share. [Click here for full story]
Veritas squeaks by forecasts
Storage-management software maker Veritas reported earnings of $51.6 million excluding extraordinary items, or 12 cents a diluted share, up from $27.7 million, or 7 cents a share, in the year-earlier period. First Call's consensus estimate was 11 cents a share. [Click here for full story]
CNET surprises Street with profit
CNET Networks reported an unexpected first quarter profit of 2 cents a share Wednesday, excluding one-time items. First Call's consensus estimate was a loss of 6 cents a share. 
-- Compiled by Tatiana Helenius and Mark Gongloff
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