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 TheStreet Staff Nov 2, 2011 7:45AM

TheStreetUpdated at 9:20 a.m. ET

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.

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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.


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