Microsoft Corporation (NASDAQ:MSFT) reported its results for the first quarter. Net income for Microsoft Corporation rose to $5.74 billion (68 cents per share) vs. $5.41 billion (62 cents per share) in the same quarter a year earlier. This marks a rise of 6.1% from the year earlier quarter. Revenue rose 7.3% to $17.37 billion from the year earlier quarter. MSFT fell in line with the mean analyst estimate of 68 cents per share. Analysts were expecting revenue of $17.25 billion.
“We saw customer demand across the breadth of our products, resulting in record first-quarter revenue and another quarter of solid EPS growth,” said Peter Klein, chief financial officer at Microsoft. “Our product portfolio is performing well, and we’ve got an impressive pipeline of products and services that positions us well for future growth.”
Competitors to Watch: Google Inc. (NASDAQ:GOOG), Novell, Inc. (NASDAQ:NOVL), Oracle Corporation (NASDAQ:ORCL), Intl. Business Machines Corp. (NYSE:IBM), Hewlett-Packard Company (NYSE:HPQ), Yahoo! Inc. (NASDAQ:YHOO), Apple Inc. (NASDAQ:AAPL), Adobe Systems Incorporated (NASDAQ:ADBE), Intel Corporation (NASDAQ:INTC), and Sony Corporation (NYSE:SNE).
SanDisk Corporation (NASDAQ:SNDK) in the third quarter as profit dropped from a year earlier. Net income for the semiconductor company fell to $233.3 million (96 cents per share) vs. $322.1 million ($1.34 per share) a year earlier. This is a decline of 27.6% from the year earlier quarter. Revenue rose 14.8% to $1.42 billion from the year earlier quarter. SNDK reported adjusted net income of $1.20 per share. By that measure, the company beat the mean estimate of $1.02 per share. Analysts were expecting revenue of $1.42 billion.
“We again delivered record revenue and strong profitability, driven by robust demand in our diversified end markets,” said Sanjay Mehrotra, president and chief executive officer. “Our broad portfolio of innovative storage solutions positions us exceedingly well to capitalize on our numerous growth opportunities in smart mobile devices and consumer and enterprise computing platforms.”
Competitors to Watch: Western Digital Corp. (NYSE:WDC), STEC, Inc. (NASDAQ:STEC), OCZ Technology Group Inc. (NASDAQ:OCZ), Micron Technology, Inc. (NASDAQ:MU), EMC Corporation (NYSE:EMC), Seagate Technology PLC (NASDAQ:STX), Imation Corp. (NYSE:IMN), Quantum Corporation (NYSE:QTM), Hutchinson Technology Inc. (NASDAQ:HTCH), and Apple Inc. (NASDAQ:AAPL).
AT&T Inc. (NYSE:T) reported its results for the third quarter. Net income for the telecom services company fell to $3.62 billion (61 cents per share) vs. $12.34 billion ($2.07 per share) a year earlier. This is a decline of 70.6% from the year earlier quarter. Revenue fell 0.3% to $31.48 billion from the year earlier quarter. T fell in line with the mean analyst estimate of 61 cents per share. Analysts were expecting revenue of $31.62 billion.
“Mobile broadband growth continues to be robust, execution was strong across the business, and we delivered another solid quarter,” said Randall Stephenson, AT&T chairman and chief executive officer. “Smartphones, connected devices and tablets all posted impressive gains. Our first LTE 4G markets are up and running with terrific speeds. And we continue to work toward a successful completion of our planned T-Mobile USA merger. The next waves in the mobile Internet revolution represent tremendous growth potential, and we are laying the groundwork required for that future.”
Competitors to Watch: Verizon Communications Inc. (NYSE:VZ), Sprint Nextel Corporation (NYSE:S), CenturyLink, Inc. (NYSE:CTL), General Communication, Inc. (NASDAQ:GNCMA), Cbeyond, Inc. (NASDAQ:CBEY), MetroPCS Communications, Inc. (NYSE:PCS), Cincinnati Bell Inc. (NYSE:CBB), PAETEC Holding Corp. (NASDAQ:PAET), and Frontier Communications Corp (NYSE:FTR).