Facebook Juggernaut Rolls On, Viacom Net Drops 60%

Mukesh Buch
04 May, 2017
New York City

Apache net swung to profit after revenues jumped 73%. Facebook net surged on mobile ads demand and solid user growth. Global Payments net plunged 19% but lifted full-year outlook. Kellogg net jumped 50%. PPL Corp net declined 16%. Viacom profit tumbled 60%.

[R]2:10 PM New York – Apache net swung to profit after revenues jumped 73%. Facebook net surged on mobile ads demand and solid user growth. Global Payments net plunged 19% but lifted full-year outlook. Kellogg net jumped 50%. PPL Corp net declined 16%. Viacom profit tumbled 60%.[/R]

Tollbooth Index increased 25.46 or 0.2% to 12,152.41.

Earnings Review

Apache Corporation ((APA)) declined 4.7% or $2.28 to $46.52 after the oil and gas explorer said revenues in the first-quarter ending in March jumped 72.7% from a year ago to $1.9 billion.

Net in the quarter swung to profit $213 million or 56 cents per diluted share from a loss of $372 million or 98 cents in the same quarter last year.

Ball Corporation ((BLL)) soared 5.4% or $4.15 to $80.37 after the metal packaging provider stated revenues in the third-quarter ending in March advanced 38.9% from a year ago to $2.5 billion.

Net in the quarter swung to profit $68 million or 38 cents per diluted share from a loss of $127 million or 90 cents in the same quarter last year.

On April 26, the board of directors approved a two-for-one split of its common stock, effective May 16 to shareholders of record on May 8.

Facebook Inc ((FB)) fell 97 cents to $150.82 after the social media network provider reported total revenues in the third-quarter ending in March soared 49% from a year ago to $8 billion.

Net income in the quarter jumped 76% to $3.1 billion or $1.04 per diluted share from $1.7 billion or 60 cents in the same quarter last year.

Mobile advertising revenue represented approximately 85% and average daily active users in the quarter increase 18% to 1.28 billion and monthly active users jumped 17% to 1.94 billion.

Facebook said as of March 31, cash and cash equivalents and marketable securities were $32.31 billion and capital expenditures in the quarter were $1.27 billion and headcount surged 38% from a year ago to 18,770.

""""We had a good start to 2017 and continuing to build tools to support a strong global community,"""" said founder and chief executive officer Mark Zuckerberg.

Global Payments Inc ((GPN)) jumped 5.2% or $4.19 to $85.29 after the digital payment solution provider said revenues in the first-quarter ending in March surged 46.9% from a year ago to $919.8 million.

Net income in the quarter plunged 18.5% to $48.8 million or 32 cents per diluted share from $59.9 million or 46 cents in the same quarter last year.

In fiscal 2017, the company lifted revenues forecast from $3.38 billion to $3.46 billion, growth of 19% to 22% from fiscal 2016 and estimated earnings per share in the range of $3.78 to $3.95, reflecting growth of 19% to 24%.

Kellogg Company ((K)) increased 1.4% or 98 cents to $69.91 after the ready-to-eat cereal and convenience foods maker reported net sales in the first-quarter ending in March slumped 4.1% from a year ago to $3.3 billion.

Net income in the quarter jumped 49.7% to $262 million or $1.06 per diluted share from $175 million or 96 cents in the same quarter last year.

PPL Corporation ((PPL)) rose 17 cents to $38.16 after the electricity provider stated revenues in the first-quarter ending in March dropped 2.9% from a year ago to $1.9 billion.

Net income in the quarter declined 16.2% to $403 million or 59 cents per diluted share from $481 million or 71 cents in the same quarter last year.

Viacom, Inc VIA)) plummeted 6.9% or $2.85 to $38.15 after the media and entertainment services provider reported revenues in the second-quarter ending in March soared 8% from a year ago to $3.3 billion.

Net income in the quarter tumbled 60% to $121 million or 30 cents per diluted share from $303 million or 76 cents in the same quarter last year.