Alphabet Net Soars 20%, Microsoft Net Falls 25%

Mukesh Buch
22 Apr, 2016
New York City

Alphabet, the parent of Google said net surged 19% on 17% rise in revenues. Caterpillar lowered revenue forecast. GE net loss narrowed. Honeywell net jumped. Kimberly Clark net surged 17% but sales fell. McDonald''s net jumped. Microsoft net plunged 25%. Visa net soared 10%.

[R]12:00 PM New York – Alphabet, the parent of Google said net surged 19% on 17% rise in revenues. Caterpillar lowered revenue forecast. GE net loss narrowed. Honeywell net jumped. Kimberly Clark net surged 17% but sales fell. McDonald''s net jumped. Microsoft net plunged 25%. Visa net soared 10%.[/R]

Tollbooth Index dropped 186.37 or 1.7% to 10,665.38.

Earnings Review

American Airlines Group Inc ((AAL)) declined 7.1% or $2.84 to $37.17 after the airline operator said total revenues in the first-quarter ending in March fell 4% from a year ago to $9.43 billion.

Net income in the quarter plunged 24.9% to $700 million or $1.14 per diluted share compared to $932 million or $1.30 per share from the same quarter last year.

The airline said net profit in the quarter included a tax related provision of $417 million, including non-cash $414 million amount.

Alphabet Inc ((GOOG)) slumped 5.7% or $42.65 to $716.49 after the search engine services provider said revenues in the first-quarter ending in March soared 17% from a year ago to $20.26 billion.

Net income in the quarter surged 19.6% to $4.21 billion or $6.02 per diluted share compared to $3.52 billion or $5.10 per share from the same quarter last year.

Caterpillar Inc ((CAT)) slid 16 cents to $78.44 after the construction and mining equipment maker reported revenues in the first-quarter ending in March plunged 25.5% from a year ago to $9.46 billion.

Net income in the quarter tumbled 78.3% to $271 million or 46 cents per diluted share compared to $1.25 billion or $2.03 per share from the same quarter last year.

Caterpillar lowered annual revenue forecast to between $40 billion and $42 billion from the previously announced range of $40 billion to $44 billion and earnings per share of about $3.70 compared to the previous estimate of $4.

General Electric Company ((GE)) slipped 45 cents to $30.53 after the industrial conglomerate reported revenues in the first-quarter ending in March jumped 6% from a year ago to $27.8 billion.

Net loss in the quarter narrowed to $98 million or 1 cent per diluted share compared to $13.6 billion or $1.35 per share from the same quarter last year.

In April 2015, GE Capital had announced its plan to divest about $200 billion of its assets and by the end of March 2016 the company had already reached agreements to sell $166 billion and sold $146 billion of assets and recorded a loss of $1.2 billion in the quarter.

Honeywell International Inc ((HON)) decreased 1.4% or $1.58 to $113.48 after the diversified technology and manufacturing company said revenues in the first-quarter ending in March rose 3% from a year ago to $9.52 billion.

Net income in the quarter jumped 6.3% to $1.19 billion or $1.53 per diluted share compared to $1.12 billion or $1.41 per share from the same quarter last year.

The industrial conglomerate lifted revenue forecast in the year between $40.3 billion and $40.9 billion, an increase of 4% to 6% from the previously estimated range of $39.9 billion and $40.9 billion and earnings per share to jump between $6.55 and $6.70 from the earlier estimated range between $6.45 and $6.70.

Kimberly Clark Corp ((KMB)) slumped 4.4% or $5.84 to $125.91 after the sanitary products maker reported revenues in the first-quarter ending in March dropped 5% from a year ago to $4.48 billion.

Net income in the quarter surged 16.5% to $545 million or $1.50 per diluted share compared to $468 million or $1.27 per share from the same quarter last year.

McDonald''s Corporation ((MCD)) fell 7 cents to $125.79 after the fast-food chain operator stated revenues in the first-quarter ending in March slid 1% from a year ago to $5.9 billion.

Comparable sales in the U.S. jumped 5.4% after ongoing popularity of All Day Breakfast and introduction of McPick 2 and comparable sales in the international segment soared 5.2% while comparable sales in China and Russia rose 3.6%.

Net income in the quarter soared 35% to $1.10 billion or $1.23 per diluted share compared to $811.5 million or 84 cents per share from the same quarter last year.

Microsoft Corporation ((MSFT)) plunged 7.5% or $4.16 to $51.62 after the technology company reported revenues in the third-quarter ending in March declined 5.5% from a year ago to $20.53 billion.

Net income in the quarter plunged 24.6% to $3.76 billion or 47 cents per diluted share compared to $4.99 billion or 61 cents per share from the same quarter last year.

Microsoft said revenue from office commercial products rose 7% and office consumer products revenues jumped 6% while dynamics products and cloud revenue soared 9% and intelligent cloud revenue increased 3%.

Visa Inc ((V)) dropped 3.1% or $2.47 to $78.32 after the payments technology provider said total revenues in the second-quarter ending in March advanced 6.4% from a year ago to $3.63 billion.

Net income in the quarter soared 10.3% to $1.71 billion or 71 cents per diluted share compared to $1.55 billion or 63 cents per share from the same quarter last year.