Apple Profit Soars on Higher Priced iPhones, Humana Lifts Outlook

Mukesh Buch
01 Aug, 2018
New York City

Apple profit surged on higher-priced iPhones. Dominion Energy profit soared on 11% jump in revenues. Entergy net plunged 40% on weak revenues. Humana beats earnings estimates and lifted fiscal outlook. Sprint plans to launch mobile 5G network in fiscal 2019.

[R]12:30 PM New York City, New York – Apple profit surged on higher-priced iPhones. Dominion Energy profit soared on 11% jump in revenues. Entergy net plunged 40% on weak revenues. Humana beats earnings estimates and lifted fiscal outlook. Sprint plans to launch mobile 5G network in fiscal 2019.[/R]

Tollbooth Index gained 35.31 or 0.2% to 15,694.28 but for the year-to-date soared 14.1%.

Earnings Review

Apple Inc ((AAPL)) jumped 5.1% or $9.61 to $199.90 after the smart-phone and consumer electronic devices maker reported revenues in the third-quarter ending in June soared 17.3% from a year ago to $53.3 billion.

Net income in the quarter surged 32.1% to $11.5 billion or $2.34 cents per diluted share from $8.7 billion or $1.67 in the same quarter last year.

In the quarter, Apple distributed $20 billion through share buybacks and as of June 30 bought a total of $43 billion.

The devices maker said strong profit was driven by higher-priced iPhones and from sales in App Store services.

Apple forecasted fiscal 2018 fourth quarter revenues between $60 billion and $62 billion and gross margin between 38% and 38.5% and operating expenses between $7.95 billion and $8.05 billion.

Dominion Energy, Inc ((D)) slipped 1.7% or $1.24 to $70.47 after the electric transmission and distribution services provider said revenues in the second-quarter ending in June jumped 10.7% from a year ago to $3.1 billion.

Net income in the quarter soared 15.1% to $449 million or 69 cents per diluted share from $390 million or 62 cents in the same quarter last year.

The electricity producer forecasted fiscal 2018 diluted earnings per share in the range of $3.80 to $4.25.

Entergy Corporation ((ETR)) increased 1.6% or $1.32 to $82.60 after the nuclear power producer said revenues in the second-quarter ending in June rose 1.9% from a year ago to $2.7 billion.

Net income in the quarter plunged 40% to $245.4 million or $1.34 per diluted share from $409.2 million or $2.27 in the same quarter last year.

Humana Inc ((HUM)) advanced 3% or $10.12 to $324.30 after the healthcare services provider reported revenues in the second-quarter ending in June soared 5.4% from a year ago to $14.3 billion.

Net income in the quarter tumbled 70.3% to $193 million or $1.39 per diluted share from $650 million or $4.46 in the same quarter last year.

Humana lowered fiscal 2018 revenues forecast in the range of $55.9 billion to $56.5 billion from the earlier estimate of $55.8 billion to $56.4 billion and diluted earnings per share forecast of about $11.52 from the earlier estimate of $13.54 to $13.94.

Sprint Corporation ((S)) edged up 4 cents to $5.47 after the wireless service provider said revenues in the second-quarter ending in June slid 0.4% from a year ago to $8.13 billion.

Net income in the quarter declined 14.5% to $176 million or 4 cents per diluted share from $206 million or 5 cents in the same quarter last year.

Sprint said postpaid phone net additions in the quarter were about 87,000 and the company continues to expect to launch the first mobile 5G network in the U.S. in the first-half of 2019.