Janus Capital
With about 90 percent of its assets in equities, Janus’ first-quarter earnings rose 21 percent as rallying stocks boosted client assets.
Net income increased to $37.9 million, or 21 cents a share, from $31.3 million, or 17 cents, a year earlier, Janus said in a statement Thursday. Excluding certain items, analysts had expected earnings of 20 cents a share, according to the average of 16 estimates in a Bloomberg survey.
Newmont Mining
Higher costs, rising tax payments and lower production ate into first-quarter profit, but revenue still rose, and the results topped analysts’ expectations as gold prices surged.
Newmont reported a first-quarter profit of $514 million, or $1.03 a share, down 5.9 percent from $546 million, or $1.11 a share, a year earlier. Excluding write-downs, a tax benefit and other items, the adjusted per-share profit was $1.04, up from 83 cents. Revenue rose 10 percent to $2.47 billion.
United Continental
The airline lost $213 million during the first quarter, as a much larger fuel bill offset gains from fare increases.
Its fuel bill for the quarter jumped $560 million even though flying increased only slightly. That was a 26.5 percent rise from a year earlier.
The quarterly loss was 65 cents a share. If not for 24 cents a share in merger expenses, the airline would have lost 41 cents a share.
Southwest Airlines
By the thinnest of margins, the discount carrier made money in the first quarter despite higher fuel prices.
Southwest said it earned $5 million, or a penny a share,meeting Wall Street’s expectations.
Revenue rose 18 percent, to $3.1 billion.
General Electric
Earnings rose 77 percent in the first quarter as its financial-services business continued to rebound. But Wall Street was expecting stronger revenue from GE’s industrial side, and shares fell.
GE, which makes everything from light bulbs to wind turbines and health care equipment, reported net income of $3.43 billion, or 31 cents a share, for the three months ended March 31. That compares with $1.95 billion, or 17 cents, in the same quarter last year. Revenue increased 6 percent to $38.45 billion.
Morgan Stanley
A sharp drop in bond-trading revenues and deep losses in a Japanese investment led to a 48 percent decline in first-quarter income.
The investment bank earned $736 million in the first quarter, or 50 cents a share, compared with $1.4 billion, or 99 cents a share, in the same period last year.
Revenue fell 16 percent to $7.6 billion.
McDonald’s
More price increases for beef and other key ingredients are expected, sending shares down even as the company reported its first-quarter profit and revenue rose.
Net income increased 11 percent to $1.2 billion, or $1.15 a share. Revenue increased 9 percent to $6.1 billion.
Philip Morris
Net income grew nearly 13 percent in the first quarter because the company sold more cigarettes at higher prices.
Net income rose to $1.92 billion, or $1.06 a share, for the period ended March 31 versus $1.7 billion, or 90 cents, in the year-ago period. Excluding excise taxes, revenue rose 4.5 percent to $6.8 billion.
