Larry Haverty, Portfolio Manager at Gabelli Funds, attributes the social media giant's robust second-quarter earnings to its shift to mobile advertising.
Charles Sizemore, CIO at Sizemore Capital Management, explains why he's worried about the sustainability of Facebook's strong performance in the second quarter.
An earnings deluge will hit the stock market Thursday, and analysts say that mostly good reports could continue to drive new highs.
July 23- Enterprise network security services provider Fortinet Inc reported a quarterly profit and revenue above analysts' average expectation, helped by strong demand for its hi-end software security products.
July 23- Brokerage and investment bank Raymond James Financial Inc said on Wednesday its quarterly profit jumped 46 percent from last year, driven by growth in its asset management business.
PALO ALTO, Calif.— Varian Medical Systems Inc. on Wednesday reported earnings that decreased by 5.1 percent in its fiscal third quarter. The Palo Alto, California- based company said profit decreased to $107.1 million, or $1.02 per share, from $112.8 million, or $1.03 per share, in the same quarter a year ago.
After announcing Q2 earnings, AT&T said it has completed its review process at the state level without conditions for its proposed merger with DirecTV, reports CNBC's Morgan Brennan.
The stock market eked out a record high Wednesday, as investors weighed positive earnings from the technology industry against disappointing news from Boeing and other companies. Apple reported earnings that topped analysts' estimates, helped by rising shipments of iPhones. Microsoft also reported results that beat forecasts.
Gilead Sciences reported Q2 EPS of $2.36 ex-items on revenue of $6.53 billion, with $3.48 billion sales of Sovaldi. CNBC's Meg Tirrell reports the highlights from the conference call.
FOSTER CITY, Calif.— Gilead Sciences Inc. on Wednesday reported profit that more than quadrupled in its second quarter, topping analysts' expectations on sales of its new breakthrough drug for hepatitis C.
SAN FRANCISCO, July 23- Facebook Inc's fast-growing mobile advertising business helped drive a 61 percent increase in revenue during the second quarter, beating Wall Street's financial targets and sending shares to a record-high in after-hours trading on Wednesday.
Facebook reported earnings and revenue that beat estimates in the second quarter, thanks to its robust mobile ad business.
SAN DIEGO— Qualcomm Inc. on Wednesday reported net income that climbed by 42 percent in its fiscal third quarter, and topped analysts' expectations. But its earnings guidance for the current quarter fell short of Wall Street estimates, and Qualcomm stock fell $3.95, or 4.8 percent, to $77.65 in aftermarket trading.
Hawaiian Air CEO Mark Dunkerley, says his airline tries to capture the fantastic view of Hawaii on board and on the ground, and explains why his company bought Airbus and not Boeing.
NEW YORK— AT&T Inc. on Wednesday posted lower net income for the latest quarter due to cheaper cellphone plans it introduced as a response to aggressive pricing from smaller competitor T-Mobile US. AT&T shares fell 51 cents to $35.37 in extended trading after the release of the results. The Dallas company said it earned $3.55 billion, or 68 cents per share.
Paul Reilly, Raymond James Financial CEO, discusses the lack of volatility and low interest rate's impact on fixed income in his business, and what's driving earnings.
Facebook Inc. said Wednesday that it earned $788 million, or 30 cents per share, in the April-June period. Adjusted earnings were 42 cents per share, handily beating Wall Street's expectations of 33 cents, according to a poll by Zacks Investment Research. This was the fifth quarter in a row that Facebook beat Wall Street's forecasts.
CNBC's Dominic Chu reports on Skechers' strong quarterly beat.
July 23- Brokerage and investment bank Raymond James Financial Inc's quarterly profit jumped 46 percent, driven by growth in its asset management business. Net income rose to $122.69 million, or 85 cents per share, for the third quarter ended June 30, from $83.86 million, or 59 cents per share, a year earlier.
July 23- Online travel research company TripAdvisor Inc reported a lower-than-expected quarterly profit, sending its shares down 9 percent in extended trading. Excluding items, TripAdvisor earned 55 cents per share, 6 cents below what analysts on average had expected, according to Thomson Reuters I/B/E/S.