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DAILY EARNINGS

Apple, Chevron, Duke Exxon Mobil Net Surge; Kraft Heinz Net Plunges


Author: Mukesh Buch
ticker.com
Last Update: 1:21 PM EDT November 02 2018

11:45 PM New York – Apple fourth-quarter net soared 32% to $14.1 billion. Chevron third-quarter net soared to $4.1 billion. Duke Energy third-quarter net jumped 15% to $1.1 billion. Exxon Mobil third-quarter net soared 55% to $6.2 billion. The Kraft Heinz third-quarter net plunged 33% to $630 million.

Tollbooth Index fell 81.45 0.5% to 15,389.98 but for the year-to-date soared 11.8%.

Earnings Review

Apple Inc (AAPL), the iPhone, consumer electronics tablets and PCs maker reported revenues in the fourth-quarter ending in September surged 20% from a year ago to $62.9 billion.

Net income in the quarter soared 31.8% to $14.1 billion or $2.91 per diluted share from $10.7 billion or $2.07 in the same quarter last year.

Apple said services revenue reached a new record high of $10 billion.

Apple forecasted fiscal first-quarter 2019 revenue between $89 billion and $93 billion and gross margin in the range of 38% to 38.5% and operating expenses between $8.7 billion and $8.8 billion.

American Axle & Manufacturing Holdings, Inc (AXL), the automobile driveline and drive-train components maker said revenues in the third-quarter ending in September jumped 5.9% from a year ago to $1.8 billion.

Net income in the quarter declined 26% to $63.8 million or 55 cents per diluted share from $86.2 million or 75 cents in the same quarter last year.

Chevron Corp (CVX), the oil and gas explorer reported total revenues in the third-quarter ending in September soared 21.5% from a year ago to $44 billion.

Net income in the quarter surged to $4.1 billion or $2.11 per diluted share from $1.9 billion or $1.03 in the same quarter last year.

“Net oil-equivalent production of 2.96 million barrels per day represents our highest quarter ever. Ramp-up of Wheatstone in Australia and the Permian Basin in Texas and New Mexico drove a production increase of 9% from previous quarter,” said chairman and chief executive officer Michael Wirth.

Duke Energy Corporation (DUK), the electric power provider said revenues in the third-quarter ending in September rose 1.5% from a year ago to $6.6 billion.

Net income in the quarter jumped to $1.1 billion or $1.51 per diluted share from $954 million or $1.36 in the same quarter last year.

Duke forecasted fiscal 2018 diluted earnings per share between $4.65 and $4.85.

Exxon Mobil Corporation (XOM), the oil and gas producer reported revenues in the third-quarter ending in September soared 25.4% from a year ago to $76.6 billion.

Net income in the quarter soared 55% to $6.2 billion or $1.46 per diluted share from $4 billion or 93 cents in the same quarter last year.

The oil and gas producer said oil production in the quarter dropped 3% to 3.8 million barrels of oil equivalent and natural gas output slumped 4%.

The Kraft Heinz Company (KHC), the food and beverage maker stated net sales in the third-quarter ending in September rose 1.6% from a year ago to $6.4 billion.

Net income in the quarter plunged 33.3% to $630 million or 51 cents per diluted share from $944 million or 77 cents in the same quarter last year.

United States Cellular Corp (USM), the wireless telecom service provider said revenues in the third-quarter ending in September increased 4% from a year ago to $1 billion.

Net in the quarter swung to profit $36 million or 41 cents per diluted share from a loss of $299 million or $3.51 in the same quarter last year.

The telecom service provider lifted revenues forecast to between $3.95 billion and $4 billion from the earlier estimate of $3.93 billion to $4.03 billion and operating profit in the range of $925 million to $1 billion from the earlier estimate of $850 million to $950 million.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc