12:05 PM New York City, New York – AT&T profit surged. Facebook offered upbeat forecast despite the usage decline in the U.S. Microsoft cloud business accelerates. MasterCard net tumbled 76% on new tax law but revenues surged. Time Warner reported strong quarterly growth.
Tollbooth Index increased 32.30 or 0.2% to 14,646.79.
Earnings Review
AT&T Inc (
T) jumped 4.2% or $1.60 to $39.14 after the communication services provider reported total revenues in the fourth-quarter ending in December fell 0.4% from a year ago to $41.7 billion.
Net income in the quarter surged to $19 billion or $3.08 per diluted share from $2.4 billion or 39 cents in the same quarter last year.
Facebook Inc (
FB) advanced 3.9% or $7.18 to $194.09 after the social network services provider said revenues in the fourth-quarter ending in December soared 47.2% from a year ago to $12.9 billion.
Net income in the quarter jumped 19.9% to $4.3 billion or $1.44 per diluted share from $3.6 billion or $1.21 in the same quarter last year.
Facebook said daily active users jumped 14% to 1.40 billion but number of daily users in the United States and Canada fell from a year earlier
“Average price per ad in the quarter surged 43%” said chief financial officer David Wehner.
“We made changes that reduced time spent on Facebook by roughly 50 million hours every day,” said chief executive officer Mark Zuckerberg.
Microsoft Corporation (
MSFT) gained 75 cents to $95.79 after the software services provider reported revenues in the second-quarter ending in December jumped 12% from a year ago to $28.9 billion.
Net in the quarter swung to a loss of $6.3 billion or 82 cents per diluted share from profit of $6.3 billion or 80 cents in the same quarter last year.
“We delivered another strong quarter with commercial cloud revenue surged 56% to $5.3 billion from a year ago period,” said executive vice president and chief financial officer Amy Hood.
Microsoft said revenue growth in cloud-based versions of Office 365, soared 41%, and Dynamics 365, management tool revenues jumped 67%.
MasterCard Inc (
MA) increased 3.1% or $5.24 to $174.31 after the credit and debit card services provider stated net revenues in the fourth-quarter ending in December surged 20% from a year ago to $3.3 billion.
Net income in the quarter tumbled 76% to $0.2 billion or 21 cents per diluted share from $0.9 billion or 86 cents in the same quarter last year.
Time Warner Inc (
TWX) gained 1.8% or $1.71 or $97.06 after the media and entertainment services provider reported revenues in the fourth-quarter ending in December advanced 9% from a year ago to $8.6 billion.
Net income in the quarter jumped to $1.4 billion or $1.75 per diluted share from $293 million or 37 cents in the same quarter last year.
The media and entertainment services provider said subscription revenues in the Turner and Home Box Office increased 13% and 11% respectively.