4 Tech Stocks Traders are Playing After Earnings

Broadcom Corporation (NASDAQ:BRCM) posted lower net income in the first quarter compared with a year-earlier period. Net income for Broadcom Corporation fell to $88 million (15 cents per share) vs. $228 million (40 cents per share) a year earlier. This is a decline of 61.4% from the year-earlier quarter. Revenue rose 0.6% to $1.83 billion from the year-earlier quarter. Broadcom Corporation reported adjusted net income of 65 cents per share. By that measure, the company beat the mean estimate of 31 cents per share. Analysts were expecting revenue of $1.8 billion.

Automatic Data Processing Inc. (NASDAQ:ADP) reported its results for the third quarter. Net income for Automatic Data Processing Inc. rose to $452.4 million (92 cents per share) vs. $423.8 million (85 cents per share) in the same quarter a year earlier. This marks a rise of 6.7% from the year-earlier quarter. Revenue rose 6.8% to $2.92 billion from the year-earlier quarter. Automatic Data Processing Inc. beat the mean analyst estimate of 91 cents per share. Analysts were expecting revenue of $2.92 billion.

Harris Corporation (NYSE:HRS) swung to a loss in the third quarter, missing analysts’ forecast. Reported a loss of $353.2 million ($3.15 per diluted share) in the quarter. Harris Corporation had a net income of $139.5 million or $1.09 per share in the year-earlier quarter. Revenue rose 4.4% to $1.48 billion from the year-earlier quarter. Harris Corporation fell short of the mean analyst estimate of $1.34 per share. Analysts were expecting revenue of $1.47 billion.

ANADIGICS, Inc. (NASDAQ:ANAD) reported its results for the first quarter. Reported a profit of $15.8 million (21 cents per diluted share) in the quarter. ANADIGICS, Inc. had a net loss of $10.7 million or a loss 16 cents per share in the year-earlier quarter. Revenue fell 34.6% to $28.4 million from the year-earlier quarter. ANADIGICS, Inc. fell in line with the mean analyst estimate of a loss of 21 cents per share. Analysts were expecting revenue of $28.6 million.

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