IBM
Big Blue jacked up its 2010 guidance Monday on the technology company’s belief that it can wring more profit from its workhorse services and software divisions.
IBM’s second-quarter profit topped Wall Street’s forecasts, but revenue fell short. IBM shares fell nearly 4 percent in extended trading. IBM blamed the revenue discrepancy on currency fluctuations that many analysts didn’t include in their estimates.
IBM reported after the market closed that its net income jumped 9 percent to $3.39 billion, or $2.65 per share, in the period that ended June 30, topping analysts’ projections for $2.58 per share. A year ago, IBM earned $3.10 billion, or $2.34 per share. Revenue in the latest period rose 2 percent to $23.7 billion.
Delta Air Lines
Despite its largest quarterly profit in a decade, investors dumped shares as sales didn’t meet expectations and the carrier gave a cautious outlook amid economic uncertainty.
Delta said its second-quarter net income was $467 million, or 55 cents per share. That reversed a year-ago loss of $257 million, or 31 cents a share, when the airline industry was still reeling from the recession. Revenue rose 17 percent to $8.17 billion.
Hasbro
The toymaker’s second-quarter profit rose 11 percent as falling spending outpaced the drop in sales of Transformers and G.I. Joe toys, which had new movie tie-ins last year.
Net income rose to $43.6 million, or 29 cents per share, in the quarter that ended June 27. That’s up from $39.3 million, or 26 cents per share, a year earlier. Analysts polled by Thomson Reuters, on average, predicted net income of 24 cents per share. Revenue fell 7 percent to $737.8 million.
Halliburton
The first of several companies connected to the gulf oil spill to report second-quarter financial results said Monday its profit soared 83 percent as natural-gas drilling activity picked up in the U.S. The results beat Wall Street expectations.
Halliburton reported net income of $480 million, or 53 cents per share, for the April- June period, up from $262 million, or 29 cents per share, a year ago. Revenue jumped 26 percent to $4.39 billion.
Texas Instruments
Second-quarter income and revenue jumped as demand continued to recover after the recession, the chipmaker said. The company predicted even better results in the new quarter.
TI said net income nearly tripled to $769 million, or 62 cents per share, for the quarter that ended June 30. That matched the average forecast of analysts polled by Thomson Reuters. In the same period last year, TI earned $260 million, or 20 cents per share. Revenue rose 42 percent to $3.5 billion.
