Facebook Net Soars; Aetna, Dow, MasterCard Net Fall

Mukesh Buch
28 Apr, 2016
New York City

Bristol-Myers net edged up. Colgate net fell. ConocoPhillips net swung to a loss. Dow Chemical profit and sales tumbled. Ford net and revenues surged. MasterCard profit slumped 6%. Facebook advertising revenues soared 57%. Sony net loss narrowed. Time Warner net jumped.

[R]11:20 AM New York – Bristol-Myers net edged up. Colgate net fell. ConocoPhillips net swung to a loss. Dow Chemical profit and sales tumbled. Ford net and revenues surged. MasterCard profit slumped 6%. Facebook advertising revenues soared 57%. Sony net loss narrowed. Time Warner net jumped.[/R]

Tollbooth Index slid 17.26 to 10,688.94.

Earnings Review

Aetna Inc ((AET)), the health insurance services provider reported total revenues in the first-quarter ending in March jumped 4% from a year ago to $15.69 billion.

Net income in the quarter declined 7% to $726.6 million or $2.06 per diluted share compared to $777.5 million or $2.20 per share from the same quarter last year.

The insurer lifted earnings per share forecast for fiscal 2016 between $7.90 and $8.10 from the earlier guidance of about $7.75 per share.

Aetna said it remains on track to close $35 billion acquisition of medicare advantage coverage provider Humana in the second-half of the year.

Bristol-Myers Squibb Co ((BMY)) increased 3 cents to $70.26 after the biopharmaceutical company said revenues in the first-quarter ending in March soared 8.7% from a year ago to $4.39 billion.

Net income in the quarter edged up 0.8% to $1.20 billion compared to $1.19 billion and diluted earnings per share were flat at 71 cents from the same quarter last year.

Colgate-Palmolive Company ((CL)) slid 4 cents to $69.27 after the consumer products maker reported revenues in the first-quarter ending in March declined 7.5% from a year ago to $3.76 billion.

Net income in the quarter fell 1.7% to $533 million compared to $542 million and diluted earnings per share were flat at 59 from the same quarter last year.

Colgate said net sales in Latin America tumbled 22% and net sales in Europe and South Pacific slumped 7.5% and net sales in Asia region fell 2.5% while net sales in Africa and Eurasia region declined 9%.

ConocoPhillips ((CON)) edged down 1 cent to $48.10 after the oil and gas producer said total revenues in the first-quarter ending in March plunged 37.4% from a year ago to $5.01 billion.

Net in the quarter swung to a loss of $1.47 billion or $1.18 per diluted share compared to profit of $272 million or 22 cents per share from the same quarter last year.

The oil and gas explorer reduced capital spending budget to $5.7 billion from $6.4 billion estimated in February.

Dow Chemical Co ((DOW)) dropped 1.5% or 81 cents to $52.78 after the science and technology company stated sales in the first-quarter ending in March slumped 13.5% from a year ago to $10.70 billion.

Net income in the quarter tumbled 87.8% to $169 million or 15 cents per diluted share compared to $1.39 billion or $1.18 per share from the same quarter last year.

The diversified chemical producer said revenues in Performance Materials & Chemicals segment plunged to $2.2 billion from $3.2 billion in the year-ago period, mainly due to split-off of Dow Chlorine Products and sales were also plunged 15% that driven by declining in prices.

Ford Motor Company ((F)) gained 1.3% or 18 cents to $13.84 after the vehicle maker reported revenues in the first-quarter ending in March soared 11.3% from a year ago to $37.72 billion.

Net income in the quarter jumped 6.5% to $2.45 billion or 61 cents per diluted share compared to $2.30 billion or 32 cents per share from the same quarter last year.

MasterCard Inc ((MA)) rose 39 cents to $98.73 after the payment services provider said revenues in the first-quarter ending in March jumped 10% from a year ago to $2.45 billion.

Net income in the quarter slumped 6% to $959 million or 86 cents per diluted share compared to $1.02 billion or 89 cents per share from the same quarter last year.

MasterCard said processed transactions surged 14% to 12.6 billion and gross dollar volume on a local currency basis jumped 13% to $1.1 trillion while cross-border volumes advanced 12%.

As of March 2016, the customers had issued 2.3 billion MasterCard and Maestro-branded cards.

Facebook Inc ((FB)) surged 11.2% or $12.25 to $121.14 after the social network services provider reported total revenues in the first-quarter ending in March surged 52% from a year ago to $5.38 billion.

Net income in the quarter soared two-fold to $1.51 billion or 52 cents per diluted share compared to $509 million or 18 cents per share from the same quarter last year.

Facebook said advertising revenues jumped 57% to $5.20 billion while revenues in payments and other fees declined 20% to $181 million from a year ago period.

Sony Corporation ((SNE)), the Japan-based household electronic products maker reported revenues in the fourth-quarter ending in March were flat from a year ago to $16.14 billion.

Net loss in the quarter narrowed to $782 million or 62 cents per diluted share compared to $890 billion or 76 cents per share from the same quarter last year.

Sony said revenues in the year in Mobile Communication segment declined 9.5% to $9.98 billion while revenues in Game & Network Services business surged 18.7% to $13.73 billion from a year ago.

Revenues in Imaging Products & Solutions jumped 4.8% to $6.29 billion and sales in Home Entertainment products rose 2% to $10.26 billion and revenues in Pictures segment soared 13.4% to $8.30 billion compared to a year ago.

Time Warner Cable Inc ((TWC)), the cable network services provider said revenues in the first-quarter ending in March soared 7% from a year ago to $6.19 billion.

Net income in the quarter jumped 7.8% to $494 million or $1.72 per diluted share compared to $458 million or $1.59 per share from the same quarter last year.

In the quarter, Time Warner added 236,000 residential subscribers, boosted revenue in the segment by 5.8% while revenue from business services soared 13% after adding 13,000 new business subscribers.

High-speed data net additions in the quarter of about 314,000 subscribers and subscribers in Voice segment of about 178,000.

United Parcel Service, Inc ((UPS)) slipped 52 cents to $105.94 after the package delivery services provider reported total revenues in the first-quarter ending in March dropped 3.2% from a year ago to $14.4 billion.

Net income in the quarter surged 10.2% to $1.13 billion or $1.27 per diluted share compared to $1.03 billion or $1.12 per share from the same quarter last year.