CBS Corp. (NYSE:CBS): CBS Corporation is a mass media company with operations in entertainment, cable networks, publishing, local broadcasting and radio. Second quarter net income for the company rose to $395 million (58 cents per share) vs. $150.1 million (22 cents per share) in the same quarter a year earlier. This is a more than twofold rise from the year earlier quarter. Revenues rose 7.7% to $3.59 billion from the year earlier quarter. CBS beat the mean analyst estimate of 45 cents per share. Analysts were expecting revenue of $3.56 billion. CBS stock gained 1.60% in after hours trades.
“CBS’s second quarter performance built on our tremendous first quarter, posting strong results throughout each of our businesses,” said Sumner Redstone, Executive Chairman, CBS Corporation. “The Company continues to operate at an exceptionally high level as we remain focused on creating the absolute best content and distributing that content in strategic and profitable ways. I am confident that Leslie and his team will continue to manage CBS for success and enhance shareholder value for a long, long time to come.”
Related Companies to Watch: The Walt Disney Company (NYSE:DIS), Scripps Networks Interactive, Inc. (NYSE:SNI), Time Warner Inc. (NYSE:TWX), Comcast Corporation (NASDAQ:CMCSA), Cumulus Media Inc. (NASDAQ:CMLS), News Corporation (NASDAQ:NWSA), DISH Network (NASDAQ:DISH), DirecTV (NASDAQ:DTV), Netflix (NASDAQ:NFLX), and AOL Inc. (NYSE:AOL).
NYSE Euronext (NYSE:NYX): NYSE Euronext, Inc. provides securities listing, trading, market data products, and software and technology services. The company reported its second quarter results Tuesday, with net income falling to $154 million (59 cents per share) vs. $184 million (70 cents per share) a year earlier. This is a decline of 16.3% from the year earlier quarter. Revenue also fell 12.4% to $1.09 billion from the year earlier quarter. NYX reported adjusted net income of 61 cents per share. By that measure, the company beat the mean estimate of 60 cents per share. It beat the average revenue estimate of $652.7 million. The stock is even in after hours trades.
“Our solid results in the second quarter reflect our focus on revenue diversification, disciplined cost management and balance sheet strength as we continue to execute against our long-term strategy in an extremely challenging environment,” said Duncan L. Niederauer, CEO, NYSE Euronext. “NYSE Liffe U.S. continues to gain traction with the launch of Eurodollar and U.S. treasury futures, we closed the sale of stakes in NYSE Amex Options and we were the global leader in IPOs for the second consecutive quarter, with a growing share of technology IPOs selecting NYSE. Lastly, our technology services business, which grew revenue 14% year-over-year, launched the first cloud computing platform in financial services.”
Coach Inc. (NYSE:COH): Coach, Inc. is an American marketer of fine accessories and gifts, including handbags, footwear, sunwear, travel bags, business cases, jewelry, clothing, fragrance and watches. Net income for the footwear and apparel company rose to $202.5 million in its fourth quarter (68 cents per share) vs. $195.5 million (64 cents per share) in the same quarter a year earlier. This marks a rise of 3.6% from the year earlier quarter. Revenues rose 8.5% to $1.03 billion from the year earlier quarter. Coach beat the mean analyst estimate of 65 cents per share. It beat the average revenue estimate of $1.01 billion. COH stock fell 6.52% in trading Tuesday.
“Lew Frankfort, Chairman and Chief Executive Officer of Coach, Inc., said, “I’m extremely pleased with our fiscal fourth quarter and full year results. We’re continuing to drive sales through higher productivity and distribution expansion, globally. In North America, where revenues grew 17% for the quarter and the fiscal year on a comparable basis, we are increasing our share of a growing accessories market. At the same time, the contribution of our international businesses in China and other East Asian markets is accelerating. Our strong performance also reflects the success of our renewed focus on Men’s – drawing on our long heritage in the category – and our digital strategies, as we continue to build the foundation for strong top and bottom line results in the years ahead.”