After-hours buzz: Netflix, Texas Instruments & more
Check out which companies are making headlines after the bell Monday:
Netflix reported second-quarter earnings of 49 cents per share on revenue of $1.07 billion. Earnings beat forecasts for 40 cents per share while revenue was in line with estimates. The company added 630,000 new subscribers to its U.S. streaming service, shy of the 700,000 expected, Sterne Agee analyst Arvind Bhatia said. For the third quarter, the company sees earnings of 30 cents to 56 cents per share and anticipates stepping up content spending in the fourth quarter. The shares are sharply lower in late trading.
Texas Instruments posted earnings excluding items of 42 cents per share beating forecasts by a penny. Revenue came in at $3.05 billion versus forecasts for $3.06 billion, and down 9 percent from a year earlier. For the third quarter, TI forecast earnings of 49 to 57 cents per share on sales of $3.09 billion to $3.35 billion. The stock is higher in late trading.
Zions Bancorp reported second-quarter earnings of 30 cents per share, including 14 cents in debt extinguishment costs. Analysts were looking for earnings of 41 cents per share. The stock is slightly lower in late trading.
Commercial insurer WR Berkeley reported second-quarter earnings of 82 cents per share, beating Wall Street forecasts for 68 cents per share. The company's net premiums written totaled $1.34 billion versus $1.19 billion a year ago. The company said current bond-market yields continue to impact its investment income and that, while yields remain under pressure, it anticipates benefiting from capital gains through the balance of the year.
Sanmina reported fiscal third-quarter earnings excluding items of 40 per share, beating forecasts by 5 cents. Revenue came in at $1.49 billion versus forecasts for $1.48 billion. The integrated manufacturing-solutions provider also anticipates fourth-quarter earnings of 37 cents to 43 cents per share on revenue of $1.475 billion to $1.525 billion. Analysts were looking for earnings of 40 cents per share on revenue of $1.52 billion. The stock is higher in late trading.
Canadian National Railway, Canada's largest railroad, recorded earnings of 1.69 Canadian dollars per share up from C$1.44 a share a year earlier. Adjust earnings were C$1.66 per share, beating forecasts by 4 cents, as it benefited from shipping energy and higher freight rates. The stock is surging in after-hours trading.
Rent-A-Center posted earnings of 76 cents per share for the second quarter on revenue of $760.5 million. A year earlier, the company earned 74 cents per share on revenue of $749.7 million. Same-store sales fell 1.2 percent in the quarter. Analysts were looking for 75 cents per share. The company also raised its full-year guidance to $3.03 to $3.15 per share, sending shares surging after-hours.
Questions? Comments? Email us at firstname.lastname@example.org