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Latest earnings news
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April 20, 2000: 1:07 p.m. ET
Topping estimates: McDonald's, Continental Air, Sunoco, UPS, BellSouth
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NEW YORK (CNNfn) - McDonald's Corp. and Microsoft Corp. became the latest Dow Jones industrial average components to top analysts' estimates Thursday as several companies once again posted higher earnings than Wall Street expected.
 Continental Airlines posted a sharp drop in first-quarter income Thursday but handily beat analysts' estimates. Polaroid Corp. narrowed its first-quarter loss but managed to beat expectations as well. Schering-Plough met the expectations of forecasters.
Knight Ridder beat estimates, as did United Parcel Service, Bristol-Myers Squibb, Gillette, BellSouth, Sunoco and Union Pacific.
McDonald's beats forecasts
McDonald's Corp. posted first-quarter earnings of $450.9 million, or 34 cents per share, beating analysts' estimates by a penny and continuing the strong earnings performance among Dow components. The fast-food restaurant operator recorded quarterly revenue of $9.51 billion, up 8 percent from a year earlier. [click here for full story]
Microsoft beats Street
Microsoft (MSFT: Research, Estimates) reported third quarter earnings of 43 cents a share, compared with Wall Street expectations of 41 cents a share. Revenue was up 23 percent to $5.66 billion. CFO John Connors said demand for business PCs remained slow in the quarter and the company is guarded about near term growth.[click here for full story]
IDEC meets 1Q estimates
Biotech firm IDEC Pharmaceuticals Corp. (IDPH: Research, Estimates) matched Wall Street's lowered first-quarter earnings expectations Thursday, but news that it would halt trials of a lupus treatment helped trigger a sharp drop in the company's share price.[click here for full story]
Quaker feels its oats in 1Q
Quaker Oats Co. (OAT: Research, Estimates) posted a 24 percent increase in first-quarter operating income Thursday, easily surpassing Wall Street expectations as unseasonably warm winter weather drove strong sales of its Gatorade sports drink.[click here for full story]
Continental soars by estimates
Continental Airlines (CAL: Research, Estimates) reported first-quarter earnings of $14 million, or 21 cents per diluted share, a 73 percent decrease from the $52 million, or 71 cents it earned a year earlier. Analysts polled by First Call Corp. expected the company to break even. The airline's passenger revenue rose 1.3 percent to $2 billion, although that was partially offset by a 6.7 percent rise in fuel costs. [click here for full story]
Polaroid picture improves
Polaroid Corp. (PRD: Research, Estimates) reported a narrower-than-expected first-quarter loss of 13 cents per share, compared with a 34 cents loss a year earlier. Analysts surveyed by First Call forecast a loss of 22 cents per share. Revenue rose 6 percent during the quarter to $403.4 million, driven by strong sales of instant film and cameras.
Schering-Plough meets expectations
Schering-Plough (SGP: Research, Estimates), the drug and personal products maker, reported a profit of 42 cents a diluted share, in line with the First Call consensus and up from 36 cents last year. [click here for full story]
Knight Ridder squeaks past estimates
Publisher Knight Ridder (KRI: Research, Estimates) earned 74 cents a diluted share, up 14 percent from the 65 cents per diluted share earned in the first quarter of 1999. Analysts polled by First Call had forecast 73 cents a share. With the inclusion of a $1-a-share gain on the sale of certain Internet investments, the company earned $1.74 a diluted share. [click here for full story]
UPS delivers on earnings
United Parcel Service (UPS: Research, Estimates) reported first-quarter profit of $674 million, or 56 cents per diluted share, topping both its earnings of 44 cents a year earlier and the consensus analyst estimate of 52 cents per share. Strong gains in international export package volume helped boost the company's overall revenue 14 percent to $7.2 billion.
[click here for full story]
Bristol-Myers beats consensus
Bristol-Myers Squibb (BMY: Research, Estimates) reported earnings of 62 cents a share, versus 54 cents a share the prior year, and net sales of $5.26 billion versus $4.85 billion in 1999. Analysts polled by First Call had forecast the drug maker would report 60 cents per share. [click here for full story]
Gillette earnings beat analysts' forecasts
Consumer products firm Gillette Co. (G: Research, Estimates) reported first-quarter earnings of $258 million, or 24 cents per share, essentially unchanged from a year earlier but higher than the profit of 22 cents per share analysts expected. The company said stronger blade and razor sales were offset by lower battery sales. [click here for full story]
BellSouth eases past estimates
BellSouth Corp. (BLS: Research, Estimates) reported profit of $981 million, or 52 cents a share, compared with $895 million, or 46 cents a share, a year earlier. The results beat Wall Street's earnings expectations of 51 cents a share, according to research firm First Call/Thomson Financial.
Sunoco blasts past forecasts
Sunoco Inc. (SUN: Research, Estimates) reported net income of $78 million, or 87 cents a share, versus $19 million, or 21 cents a share, for the first quarter of 1999. Analysts polled by First Call had forecast the energy company would report earnings of 55 cents a share. [click here for full story]
Union Pacific comes out ahead
Union Pacific Corp. (UNP: Research, Estimates) reported profit of 74 cents a share, versus 52 cents a share in 1999. Analysts polled by First Call had predicted the company would report 70 cents a share. [click here for full story] 
-- Compiled by Tatiana D. Helenius
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