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DAILY EARNINGS

Apple, Amazon, Exxon Mobil Net Soar; Alphabet Net Swings to Profit


Author: Mukesh Buch
ticker.com
Last Update: 12:04 PM EST February 02 2018

11:45 PM New York – Apple first-quarter net jumped 12% to $20 billion. Amazon.com fourth-quarter net surged 154% to $1.9 billion. Exxon Mobil fourth-quarter net quintupled to $8.4 billion. Alphabet fourth-quarter net swung to profit $5.3 billion. Phillips 66 fourth-quarter net soared to $3.2 billion.

Tollbooth Index declined 250.23 or 1.7% to 14,391.39.

Earnings Review

Alphabet Inc (GOOG), the search engine services provider reported revenues in the fourth-quarter ending in December jumped 23.7% from a year ago to $32.3 billion.

Net in the quarter swung to profit $5.3 billion or $7.56 per diluted share from a loss of $3 billion or $4.35 in the same quarter last year.

Apple Inc (AAPL), the mobile, media devices and personal computers maker reported revenues in the first-quarter ending in December soared 13% from a year ago to $88.3 billion.

Net income in the quarter jumped 12.3% to $20.1 billion or $3.89 per diluted share from $17.9 billion or $3.36 in the same quarter last year.

Apple forecasted fiscal second quarter revenues between $60 billion and $62 billion and gross margin in the range of 38% to 38.5% and operating expenses between $7.6 billion and $7.7 billion.

“Cash flow from operations was very strong at $28.3 billion, and we returned $14.5 billion to investors through capital return program,” said chief financial officer Luca Maestri.

Amazon.com, Inc (AMZN), the online market place operator and retailer said net sales revenues in the fourth-quarter ending in December surged 38% from a year ago to $60.5 billion.

Net income in the quarter jumped 153.7% to $1.9 billion or $3.75 per diluted share from $749 million or $1.54 in the same quarter last year.

Chevron Corp (CVX), the petroleum refiner and retailer reported total revenues in the fourth-quarter ending in December jumped 19.4% from a year ago to $37.6 billion.

Net income in the quarter surged to $3.1 billion or $1.64 per diluted share from $415 million or 22 cents in the same quarter last year.

Chevron profit includes non-cash provisional tax benefits of $2.02 billion related to U.S. tax reform.

Exxon Mobil Corporation (XOM), the oil and gas refiner said total revenues in the fourth-quarter ending in December surged 17.9% from a year ago to $66.5 billion.

Net income in the quarter quintupled to $8.4 billion or $1.97 per diluted share from $1.7 billion or 41 cents in the same quarter last year.

Exxon distributed $3.3 billion in dividends to shareholders.

Merck & Co., Inc (MRK), the healthcare products maker said sales in the fourth-quarter ending in December rose 3% from a year ago to $10.4 billion.

Net loss in the quarter widened to $872 million or 32 cents per diluted share from $594 billion or 22 cents in the same quarter last year.

Phillips 66 (PSX), the oil and gas producer reported revenues in the fourth-quarter ending in December advanced 27% from a year ago to $30.1 billion.

Net income in the quarter jumped to $3.2 billion or $6.25 per diluted share from $163 million or 31 cents in the same quarter last year.
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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