2 Technology Stocks Lighting Up Trading Screens After Earnings
eBay (NASDAQ:EBAY): The internet company, which together with its subsidiaries provides online marketplaces for the sale of goods and services, along with other online commerce platforms, online payment solutions and communication offerings, reported a drop in second quarter profit, down from the previous year. Net income fell to $283.4 million (22 cents per share) vs. $412.2 million (31 cents per share) a year earlier. This is a decline of 31.2% from the year earlier quarter. Revenue rose 24.6% to $2.76 billion from the year earlier quarter. EBAY reported adjusted net income of 48 cents per share. By that measure, the company beat the mean estimate of 39 cents per share. It beat the average revenue estimate of $2.61 billion. EBAY shares are down 1.78% today in after-hours trading.
“Second quarter revenue and earnings were strong, with PayPal surpassing 100 million active registered accounts and reporting its first billion-dollar revenue quarter, and eBay growth in the U.S. accelerating,” said eBay Inc. President and CEO John Donahoe. “We also strengthened our portfolio in Q2 with acquisitions that we believe will more broadly position us to enable the future of commerce. We will partner with retailers of all sizes to help them grow in a rapidly shifting, technology-driven multichannel commerce environment, and we will help consumers shop and pay anytime, anywhere, any way.”
Intel Corporation (NASDAQ:INTC): The developer of advanced integrated digital technology products reported net income above Wall Street’s expectations for the second quarter. Net income for Intel Corporation rose to $2.95 billion (54 cents per share) vs. $2.89 billion (51 cents per share) in the same quarter a year earlier. This marks a rise of 2.3% from the year earlier quarter. Revenue rose 21.1% to $13.03 billion from the year earlier quarter. INTC reported adjusted net income of 59 cents per share. By that measure, the company beat the mean estimate of 51 cents per share. Analysts were expecting revenue of $12.82 billion. INTC shares are down 1.48% today in after-hours trading.
“We achieved a significant new milestone in the second quarter, surpassing $13.0 billion in revenue for the first time,” said Paul Otellini, Intel president and CEO. “Strong corporate demand for our most advanced technology, the surge of mobile devices and Internet traffic fueling data center growth, and the rapid rise of computing in emerging markets drove record results. Intel’s 23 percent revenue growth in the first half and our increasing confidence in the second half of 2011 position us to grow annual revenue in the mid-20 percent range.”
Competitors to Watch: Advanced Micro Devices, Inc. (NYSE:AMD), Texas Instruments Inc. (NYSE:TXN), Intl. Business Machines Corp. (NYSE:IBM), Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), NVIDIA Corporation (NASDAQ:NVDA), Oracle Corporation (NASDAQ:ORCL), Micron Technology, Inc. (NASDAQ:MU), ARM Holdings plc (NASDAQ:ARMH), and QUALCOMM, Inc. (NASDAQ:QCOM).