Expedia turns in loss, but results top estimates
(5:08 PM ET) SAN FRANCISCO (MarketWatch) -- Expedia Inc. /zigman2/quotes/202291990/composite EXPE +2.37% on Thursday reported a fiscal first-quarter net loss of $3.3 million, or 2 cents a share, on revenue of $816.5 million. During the same period a year ago, the online travel bookings company earned $52 million, or 37 cents a share, on $727.8 million in revenue. Adjusted earnings totaled $36.9 million, or 26 cents a share. Analysts surveyed by FactSet Research had forecast Expedia to earn 15 cents a share on $792.3 million in revenue. Expedia shares rose as much as 18% in after-hours trading following the results. [Adds Expedia's net loss figures].
KLA-Tencor profit slips, but results beat Street
(4:47 PM ET) SAN FRANCISCO (MarketWatch) - KLA-Tencor Corp. /zigman2/quotes/209248041/composite KLAC +1.58% on Thursday reported a fiscal third-quarter profit of $205 million, or $1.21 a share, compared with a profit of $210 million, or $1.22 a share, for the year-earlier period. Revenue was $841 million, up from $834 million. Adjusted income was $1.27 a share. Analysts surveyed by FactSet Research were on average expecting a profit of $1.09 a share, on revenue of $802.1 million.
Fusion-io swings to a loss
(4:44 PM ET) SAN FRANCISCO (MarketWatch) - Fusion-io Inc.on Thursday reported a fiscal third-quarter loss of $4.68 million, or 5 cents a share, compared with a profit of $7.04 million, or 9 cents a share, for the year-earlier period. Revenue was $94.2 million, up from $67.3 million. Adjusted profit was 6 cents a share. Analysts were expecting a profit of 2 cents a share, on revenue of $85.4 million, according to a consensus survey by FactSet Research. For the current quarter, the company said it expects revenue to be "essentially flat sequentially" Analysts were expecting revenue of $88.3 million. Shares of Fusion-io were down 10% in after-hours trading.
Amazon earnings fall, but blow past estimates
(4:35 PM ET) SAN FRANCISCO (MarketWatch) - Amazon.com said Thursday afternoon that earnings slid by 35% in the first quarter, though the final number came in far above Wall Street's estimates. For the quarter ended March 31, Amazon /zigman2/quotes/210331248/composite AMZN -0.64% reported net income of $130 million, or 28 cents a share, compared to net income of $201 million, or 44 cents a share, for the same period last year. Operating income fell 40% to $192 million - implying an operating margin of 1.5% for the period. Revenue rose 34% to $13.18 billion. Analysts were looking for earnings of 6 cents a share on revenue of $12.9 billion, according to consensus estimates from FactSet Research.
Western Digital earnings climb 231%
(4:29 PM ET) SAN FRANCISCO (MarketWatch) -- Western Digital Corp. /zigman2/quotes/204213617/composite WDC +0.99% on Thursday reported a fiscal third-quarter profit of $483 million, or $1.96 a share, on revenue of $3 billion. During the same period a year ago, the computer hard-disk drive maker earned $146 million, or 62 cents a share, on $2.3 billion in sales. Excluding one-time items, Western Digital would have earned $619 million, or $2.52 a share. Analysts surveyed by FactSet Research had forecast Western Digital to earn $1.59 a share on $2.48 billion in revenue. In a statement, Chief Executive John Coyne said Western Digital 's recovery efforts following last-year's flooding in Thailand have reached a point where the company is now able to "adequately meet anticipated customer demand in the current quarter and beyond."
Gilead profit falls after acquisition costs
(4:21 PM ET) NEW YORK (MarketWatch) -- Gilead Sciences Inc. /zigman2/quotes/210293917/composite GILD +0.47% said Thursday its first-quarter profit fell to $442 million, or 57 cents a share, from $651 million, or 80 cents a share, in the year-ago period. The latest quarter included 25 cents a share in costs related to the company's acquisition of Pharmasset. Adjusted profit in the latest quarter totaled 91 cents a share. Revenue rose to $2.28 billion from $1.93 billion. Wall Street analysts expected Gilead Sciences to earn 93 cents a share on revenue of just under $2 billion, according to a survey by FactSet Research.
Starbucks lifts targets for profit, store openings
(4:21 PM ET) SAN FRANCISCO (MarketWatch) -- Starbucks /zigman2/quotes/207508890/composite SBUX -0.62% on Thursday lifted its fiscal 2012 profit outlook and plans to open more stores worldwide than it had previously forecast. Profit for Starbucks' fiscal second quarter ended April 1 rose 18% to $309.9 million, or 40 cents a share, from $261.6 million, or 34 cents a share, in the same 2011 period. Revenue climbed 15% to $3.2 billion. Same-store sales grew 7%. Transaction count was up 6%. Average ticket price rose 1%. Operating margin was flat at 13.5%. For its September fiscal year, Starbucks expects to earn $1.81 to $1.84 a share, up from its old target of $1.78 to $1.82 a share. Store openings will total 1,000, up from 800 stores previously planned. "With coffee cost pressures easing in the second half of the year and momentum building from investments in our growth initiatives, we are well positioned to deliver on our aggressive targets," CFO Troy Alstead said in a statement. Starbucks shares have surged 64% over the last 12 months, 16 times the gain for the S&P 500. Shares fell 2% to $57.89 in after-hours trades.
NetSuite posts loss
(4:19 PM ET) CHICAGO (MarketWatch) -- NetSuite Inc.on Thursday reported a first-quarter loss that was about flat with that of the same period a year ago. The software developer said it lost $7.7 million, or 11 cents a share, compared with a loss of $7.7 million, or 12 cents, in the prior year. Excluding items, the company turned a profit of 6 cents per share in the latest three months. Revenue rose 30% to $69.3 million. Analysts polled by FactSet Research were expecting a profit of 3 cents a share on revenue of $67.85 million.
Angie's List posts wider loss, but sales jump
(4:16 PM ET) SAN FRANCISCO (MarketWatch) - Angie's List Inc. /zigman2/quotes/209149959/composite ANGI +1.36% on Thursday reported a first-quarter net loss of $13.45 million, or 24 cents a share, compared with a loss of $9.6 million, or 34 cents a share, for the year-earlier period. Revenue was $31.1 million, up from $17.6 million. Analysts were expecting a loss of 25 cents a share, on revenue of $29.4 million, according to a consensus survey by FactSet Research. For the current quarter, the company expects revenue in the range of $34.5 million to $35.5 million. Analysts were expecting $34.31 million, according to data from FactSet Reserch.
Met Life swings to loss in first quarter
(4:15 PM ET) CHICAGO (MarketWatch) -- Higher interest rates and lower credit spreads landed Met Life in the red in the first quarter, the insurance company said Thursday. After the close of trading, Met Life said that it lost $174 million, or 16 cents a share, on the period vs. earnings of $701 million, or 66 cents a share, in the same quarter of 2011. On an operating basis, the company would have earned $1.37 a share in the quarter, up from $1.23. Revenue rose 7% to $16.7 billion. The average estimate of analysts polled by FactSet Research had been for Met Life /zigman2/quotes/206319319/composite MET -0.16% to earn $1.30 a share on revenue of $16.7 billion.
Zynga narrowly beats estimates; revenue up 32%
(4:11 PM ET) SAN FRANCISCO (MarketWatch) - Zynga Inc. reported a net loss for its first quarter on Thursday afternoon, though adjusted earnings came in slightly ahead of Wall Street's estimates. For the quarter ended March 31, Zyngareported a net loss of $85.4 million, or 12 cents a share, compared to net income of $16.8 million, or break even on a per-share basis, for the same period last year. Adjusted earnings came in at $47 million, or 6 cents a share. Bookings for the quarter rose 15% to $329.2 million. Revenue rose 32% to $321 million. Analysts were looking for adjusted earnings of 5 cents a share on revenue of $318 million, according to consensus estimates from FactSet Research.
Exxon cuts rigs as natural gas prices sap profit
(2:55 PM ET) NEW YORK (MarketWatch) -- Exxon Mobil /zigman2/quotes/204455864/composite XOM +2.10% said lower U.S. natural gas prices ate away $300 million in earnings in its first quarter, compared to the year-ago period. In the U.S., Exxon said it's shifting its rigs to liquids-rich areas. The oil major is focusing on the Bakken of North Dakota, the Permian of Texas and Ardmore of Oklahoma and it's getting ready to drill in the Utica shale of Ohio. In total, Exxon had about 64 rigs running in the first quarter in the U.S., down from about 71 last year. Oil equivalent volumes fell more than 5%, mostly because of lower entitlement volumes in West Africa, oil field declines and divestments. Production increased from Angola and Iraq. Compared against the fourth quarter of last year, Exxon drew about $7 more for each barrel of oil sold, while overseas natural gas prices rose about 26 cents per thousand cubic feet. These gains were offset by higher taxes.
Cirrus Logic shares climb 14%
(10:36 AM ET) SAN FRANCISCO (MarketWatch) -- Cirrus Logic Inc. /zigman2/quotes/208789077/composite CRUS +0.74% shares climbed 14% to $26.32 Thursday following the audio chipmaker's quarterly results and forecast. Late Wednesday, Cirrus said that for its fiscal fourth quarter, it earned 36 cents a share on revenue of $110.6 million, which beat analysts' estimates. The company, which makes products for smartphones including Apple Inc.'s iPhone, said that during the September quarter it "expects to transition to a sharply higher level of revenue," as investors took the comments to mean a new iPhone will be released later this year.
Vasco Data shares slide on disappointing results
(10:25 AM ET) SAN FRANCISCO (MarketWatch) -- Shares of Vasco Data Security International Inc.slid 16% to $8.11 on Thursday morning, after the company reported lower-than-expected results for the first quarter. Revenue from continuing operations fell 11% during the period, with earnings per share coming in at 5 cents compared to the 9 cents expected by analysts. In a statment, the company attributed the shortfall to "the timing of receipt of new orders and production delays associated with the Chinese New Year." The company specializes in Internet security solutions.
PulteGroup jumps 7% on narrower loss, more orders
(10:18 AM ET) NEW YORK (MarketWatch) -- PulteGroup Inc. /zigman2/quotes/201694804/composite PHM -0.98% shares jumped as much as 7% at the open Thursday after the homebuilder reported a sharply narrower first-quarter loss. Pulte cited stronger results from its financial services unit, tighter cost controls and a 15% jump in new home orders for the improvement, offering investors a "cautiously optimistic" view that the struggling U.S. housing market may finally be on the rebound. For the quarter, PulteGroup posted a loss of 3 cents a share, down from a year-ago loss of 10 cents a share. Pulte shares were last up 7% at $9.31, landing the company among the top five percentage gainers in the S&P 500. Including today's advance, the stock is up neary 48% since Jan. 1.
Akamai falls on disappointing profit forecast
(10:00 AM ET) SAN FRANCISCO (MarketWatch) -- Shares of Akamai Technologies Inc. /zigman2/quotes/203072268/composite AKAM +0.26% fell more than 8% Thursday morning to $35.34 after the company issued its first-quarter results that included a disappointing forecast for profits in the second quarter, according to analysts. Earnings for the March period fell 15% on higher expenses, though came in ahead of Wall Street's estimates. But the company said it expects earnings of 36-38 cents a share in the second quarter - slightly below Wall Street's consensus target of 39 cents. Mark Mahaney of Citigroup retained his sell rating on the stock, noting that "we remain concerned about an increasingly competitive environment - with a special focus on Amazon," as well as what he describes as a "premium valuation."