Earnings watch: Sony, MasterCard, Comcast
Sony forecasts a fourth straight annual loss. MasterCard's profit jumps on a rise in credit card use. Concast posts higher profit and revenue.
By Andrea Tse, TheStreet
Sony (SNE), the Japanese electronics giant, reported a fiscal second-quarter loss of 27 billion yen ($346 million) and said it expects an annual loss for the fourth year in a row. Sony said it expects an annual loss of 90 billion yen; it previously expected a net profit of 60 billion. Sony shares were down 5% to $18.72.
MasterCard's (MA) profit rose 38% on a jump in credit card use and new deals with other banks to issue debit cards bearing its logo. Net income was $717 million, or $5.63 per share, on revenue of $1.8 billion, exceeding expectations for profit of $4.81 per share on revenue of $1.7 billion.
Profit at Comcast (CMCSA), the nation's largest cable TV company, rose 5% in the third quarter as revenue jumped 51%. Net income was $908 million, or 33 cents per share, up from $867 million, or 31 cents per share, a year ago. Analysts were expecting 39 cents per share.
Media and entertainment company Time Warner (TWX) reported third-quarter earnings of 79 cents a share, beating the average analyst estimate of 76 cents.
Post continues below.
Teva Pharmaceutical (TEVA) said third-quarter net profit excluding items fell from a year earlier but came in above analysts' estimates. Sales rose 2% to $4.34 billion. North American generic-drug sales fell 48% to $845 million, but Teva CEO Shlomo Yanai said he expects a "strong fourth quarter including an improved U.S. generics business." Teva shares were losing 0.5% to $28.90.
Online media company AOL (AOL) reported a third-quarter loss of 2 cents a share, less than the 6-cent loss analysts, on average, were expecting.
Networking equipment maker JDS Uniphase (JDSU) topped Wall Street's expectations for its fiscal first quarter. JDS reported a profit excluding some items of $40.9 million, or 18 cents a share, on revenue of $421.1 million. The average estimate of analysts polled by Thomson Reuters was for earnings of 13 cents on revenue of $415.1 million. Shares of JDS were rising 6.6% to $12.24.
Thoratec (THOR), a maker of heart pumps, gave a mixed full-year outlook. The company said it now sees non-GAAP earnings of $1.48 to $1.52 a share on revenue ranging from $418 million to $423 million. The average estimate of analysts polled by Thomson Reuters is for a profit of $1.49 on revenue of $428.4 million. Shares were down 10% to $31.30.
Kraft Foods (KFT) is expected to earn 55 cents a share in the third quarter. Analysts are expecting sales of $12.81 billion.
In other company news, Yahoo (YHOO) is pitching private-equity firms about an arrangement in which they could take a minority stake in the Internet company while effectively gaining control, people familiar with the matter told The Wall Street Journal. Shares were rising 1.1% to $15.10.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
The solid report comes a month after the retailer closed all of its Canadian operations.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.