3 Tech Titans Lightning Up Trading Screens After Earnings
Amazon.com, Inc. (NASDAQ:AMZN) in the third quarter as profit dropped from a year earlier. Net income fell to $63 million (14 cents per share) vs. $231 million (51 cents per share) a year earlier. This is a decline of 72.7% from the year earlier quarter. Revenue rose 43.9% to $10.88 billion from the year earlier quarter. AMZN fell short of the mean analyst estimate of 24 cents per share. Analysts were expecting revenue of $10.93 billion.
Jeff Bezos, founder and CEO of Amazon.com. “In the three weeks since launch, orders for electronic ink Kindles are double the previous launch. And based on what we’re seeing with Kindle Fire pre-orders, we’re increasing capacity and building millions more than we’d already planned.”
Competitors to Watch: eBay Inc. (NASDAQ:EBAY), Wal-Mart Stores, Inc. (NYSE:WMT), Overstock.com, Inc. (NASDAQ:OSTK), Google Inc. (NASDAQ:GOOG), Barnes & Noble, Inc. (NYSE:BKS), Costco Wholesale Corp. (NASDAQ:COST), GSI Commerce, Inc. (NASDAQ:GSIC), Hot Topic, Inc. (NASDAQ:HOTT), PC Mall, Inc. (NASDAQ:MALL), Apple (NASDAQ:AAPL) and Best Buy Co., Inc. (NYSE:BBY).
Dreamworks Animation SKG Inc (NASDAQ:DWA) reported its results for the third quarter. Net income for Dreamworks Animation SKG Inc fell to $19.7 million (23 cents per share) vs. $39.8 million (47 cents per share) a year earlier. This is a decline of 50.6% from the year earlier quarter. Revenue fell 14.9% to $160.8 million from the year earlier quarter. DWA beat the mean analyst estimate of 20 cents per share. Analysts were expecting revenue of $163 million.
“DreamWorks Animation’s third quarter results were driven by the blockbuster international box office success of Kung Fu Panda two, the number one animated movie of the year and the fourth highest-grossing film on a worldwide basis,” said Jeffrey Katzenberg, Chief Executive Officer of DreamWorks Animation. “The next big event for the Company is the theatrical release of Puss In Boots on October 28th and we look forward to seeing how it performs around the world through the fourth quarter.”
Competitors to Watch: Lions Gate Entertainment Corp. (NYSE:LGF), CKX Inc. (NASDAQ:CKXE), Seven Arts Pictures PLC (NASDAQ:SAPX), Point.360 (NASDAQ:PTSX), World Wrestling Entertainment, Inc. (NYSE:WWE), and Rentrak Corporation (NASDAQ:RENT). Lions Gate Entertainment (NYSE:LGF), Disney (NYSE:DIS), Sony (NYSE:SNE), Apple (NASDAQ:AAPL), Time Warner (NYSE:TWX), Comcast Corp (NASDAQ:CMCSA), Crown Media (NASDAQ:CRWN), IMAX (NASDAQ:IMAX), News Corp (NASDAQ:NWSA) and Netflix (NASDAQ:NFLX).
Broadcom Corporation (NASDAQ:BRCM) posted lower net income in the third quarter compared with a year-earlier period. Net income for Broadcom Corporation fell to $270 million (48 cents per share) vs. $327.1 million (60 cents per share) a year earlier. This is a decline of 17.5% from the year earlier quarter. Revenue rose 8.4% to $1.96 billion from the year earlier quarter. BRCM reported adjusted net income of 82 cents per share. By that measure, the company beat the mean estimate of 53 cents per share. Analysts were expecting revenue of $1.95 billion.
“Broadcom delivered record revenue and cash flow in Q3 with strength across all of our end markets – Home, Hand and Infrastructure,” said Scott McGregor, Broadcom’s President and CEO. “While our outlook reflects potential industry softness, our long-term strategy is to continue to outgrow the overall semiconductor market with product innovations that drive new market growth and value.”
Competitors to Watch: QUALCOMM, Inc. (NASDAQ:QCOM), Texas Instruments Inc. (NYSE:TXN), Analog Devices, Inc. (NYSE:ADI), NVIDIA Corporation (NASDAQ:NVDA), Marvell Tech. Group Ltd. (NASDAQ:MRVL), Intel Corporation (NASDAQ:INTC), Entropic Communications, Inc. (NASDAQ:ENTR), PMC-Sierra, Inc. (NASDAQ:PMCS), Infineon Tech. AG (IFNNY), and Zoran Corporation (NASDAQ:ZRAN).