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DAILY EARNINGS

Liberty Media, Thomson Reuters, Disney Net Surge; CVS Health Net Swing to Loss


Author: Mukesh Buch
ticker.com
Last Update: 12:19 PM EDT August 08 2018

11:45 PM New York CVS Health second-quarter net to a loss of $2.6 billion. Liberty Media second-quarter net jumped 83% to $172 million. Thomson Reuters second-quarter net surged to $625 million. Southern Company second-quarter net loss narrowed to $154 million. Walt Disney third-quarter net surged 23% to $2.9 billion.

Tollbooth Index edged down 7.06 to 15,967.21 but for the year-to-date soared 16%.

Earnings Review

CVS Health Corporation (CVS), the retail pharmacy services provider reported revenues in the second-quarter ending in June advanced 2.2% from a year ago to $46.7 billion.

Same store sales in the quarter jumped 5.9% and pharmacy same store sales soared 8.3% and same store prescription volume surged 9.5%.

Net in the quarter swung to a loss of $2.6 billion or $2.52 per diluted share from profit of $1.1 billion or $1.07 in the same quarter last year.

CVS said operating loss in the quarter of $1.6 billion included the goodwill impairment charge of $3.9 billion.

Pharmaceutical retailer revised fiscal 2018 operating profit to drop between 39.25% and 40.75% from the previous range between 0.25% decline and 2.75% increase.

Fossil Inc (FOSL), the watches, fashion accessories and jewelry designer said revenues in the second-quarter ending in June fell 3% from a year ago to $577 million.

Net loss in the quarter narrowed to $7.8 million or 16 cents per diluted share from $344.7 million or $7.11 in the same quarter last year.

The New York Times Co (NYT), the media and publishing services provider stated revenues in the second-quarter ending in June rose 1.8% from a year ago to $414.6 million.

Net income in the quarter surged 51.3% to $23.6 million or 14 cents per diluted share from $15.6 million or 9 cents in the same quarter last year.

The publisher said strong profit was driven by growth in the newspaper online subscriptions but added fewer paid digital subscribers while advertising revenue plunged 7.5% to $51 million.

Liberty Media Corp (BATRA), the media and entertainment services provider said total revenues in the second-quarter ending in June increased 2.8% from a year ago to $2.1 billion.

Net income in the quarter jumped 83% to $172 million or 6 cents per diluted share from $94 million in the same quarter last year.

Thomson Reuters Corp (TRI), the news and financial information provider reported revenues in the second-quarter ending in June advanced 2% from a year ago to $1.3 billion.

Net income in the quarter surged to $625 million or 88 cents per diluted share from $192 million or 27 cents in the same quarter last year.

Southern Company (SO), the electricity and gas supplier reported revenues in the second-quarter ending in June rose 3.7% from a year ago to $5.6 billion.

Net loss in the quarter narrowed to $154 million or 15 cents per diluted share from $1.4 billion or $1.38 in the same quarter last year.

Walt Disney Co (DIS), the diversified media and entertainment conglomerate said revenues in the third-quarter ending in June soared 7% from a year ago to $15.2 billion.

Net income in the quarter surged 23% to $2.9 billion or $1.95 per diluted share from $2.4 billion or $1.51 in the same quarter last year.

Disney said revenues in the studio entertainment business soared 20% to $2.9 billion, in the parks and resorts segments jumped 6% to $5.2 billion and revenues in the media networks increased 5% to $6.2 billion.
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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