Earnings watch: GE, Google
The industrial conglomerate tops earnings but misses revenue expectations, while the search giant beats on both counts.
General Electric (GE) reported a second-quarter profit of $3.1 billion, or 29 cents a share, down from $3.8 billion, or 35 cents a share, a year earlier. Excluding one-time items, GE earned 38 cents per share. Revenue rose 2% to $36.5 billion. Analysts expected a profit of 37 cents a share on revenue of $36.8 billion. The industrial conglomerate and Dow component also affirmed its outlook of double-digit-earnings growth in 2012.
Google (GOOG) on Thursday reported second-quarter non-GAAP earnings of $3.35 billion, or $10.12 a share, on revenue excluding traffic acquisition costs of $8.36 billion. Analysts were looking for $10.04 a share on revenue of $8.41 billion.
Microsoft (MSFT) on Thursday posted a non-GAAP quarterly profit of $6.93 billion, or 73 cents a share, for its fiscal fourth quarter on revenue of $18.06 billion. Analysts were looking for earnings of 62 cents a share on revenue of $18.13 billion. Microsoft saw strong growth in its server and tools business in the quarter. (Microsoft owns and publishes Top Stocks, an MSN Money site.)
SanDisk (SNDK) on Thursday reported non-GAAP earnings of $51 million, or 21 cents a share, for the second quarter on revenue totaling $1.03 billion. The performance topped the average analyst estimate of 18 cents a share on revenue of $1.02 billion.
Schlumberger (SLB) on Friday reported quarterly net income of $1.4 billion, or $1.05 a share, compared with $1.34 million, or 98 cents a share, for the same period in 2011. Revenue increased by 16.2% to $10.45 billion.
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.
Investors are anxious to see if hiring can maintain its strong pace in the second half of the year.
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.