Alphabet Advertising Revenues Soars, 3M Lifted Outlook

Mukesh Buch
25 Jul, 2017
New York City

3M net soared and lifted outlook. Alphabet net declined but revenues jumped after advertising revenue soared. Caterpillar net surged 46%. Domino''s domestic sales jumped.

[R]2:10 PM New York – 3M net soared and lifted outlook. Alphabet net declined but revenues jumped after advertising revenue soared. Caterpillar net surged 46%. Domino''s domestic sales jumped.[/R]

Tollbooth Index edged down 3.26 to 12,453.20.

Earnings Review

3M Company ((MMM)) declined 5.3% or $11.13 to $198.87 after the industrial conglomerate said sales in the second-quarter ending in June rose 1.9% from a year ago to $7.8 billion.

Net income in the quarter soared 23.1% to $1.6 billion or $2.58 per diluted share from $1.3 billion or 51 cents in the same quarter last year.

3M lifted fiscal 2017 sales forecast to between 3% to 5% from the earlier estimate of 2% and 5% and earnings per share in the range of $8.80 to $9.05 from the prior forecast of $8.70 to $9.05, representing 8% to 11% increase from 2016 results.

Alphabet Inc ((GOOG)) dropped 2.9% or $28.61 to $951.60 after the search engine operator reported revenues in the second-quarter ending in June soared 21% from a year ago to $26.01 billion.

Net income in the quarter declined 28.6% to $3.5 billion or $5.01 per diluted share from $4.3 billion or $7 in the same quarter last year.

Google’s advertising revenue jumped 18% to $22.7 billion, driven by 52% surge in paid clicks and its “other revenue”, includes Google Play, hardware and its cloud business surged 42% to $3.09 billion from a year ago period.

Caterpillar Inc ((CAT)) jumped 5.1% or $5.47 to $113.68 after the construction and mining equipment maker said sales in the second-quarter ending in June soared 9.7% from a year ago to $11.3 billion.

Net income in the quarter surged 45.8% to $802 million or $1.35 per diluted share from $550 million or 93 cents in the same quarter last year.

Caterpillar lifted full-year revenues forecast in the range of $42 billion to $44 billion from the earlier estimate of $38 billion to $41 billion and earnings per share of about $3.50.

E I Du Pont De Nemours And Co ((DD)) increased 1.4% or $1.21 to $85.56 after the industrial conglomerates said sales in the second-quarter ending in June jumped 5% from a year ago to $7.4 billion.

Net income in the quarter slumped 15.5% to $862 million or 99 cents per diluted share from $1.02 billion or $1.16 in the same quarter last year.

Domino''s Pizza, Inc ((DPZ)) tumbled 8.5% or $18.07 to $195.90 after the pizza restaurant chain stated total revenues in the second-quarter ending in June soared 14.8% from a year ago to $628.6 million.

Domino''s international same-store sales increased 2% and domestic same-store sales rose 9.5%.

Net income in the quarter jumped 10.5% to $65.7 million or $1.32 per diluted share from $49.3 million or 38 cents in the same quarter last year.