Earnings Recap: Netflix, Texas Instruments, Baidu Make Waves
Netflix Inc. (NASDAQ:NFLX): The provider of subscription services for streaming movies and TV episodes over the Internet and by mail reported its second quarter earnings this afternoon. Net income for the company rose to $68.2 million ($1.26 per share) vs. $43.5 million (80 cents per share) in the same quarter a year earlier. This marks a rise of 56.7% from the year earlier quarter. Revenue rose 51.7% to $788.6 million from the year earlier quarter. NFLX beat the mean analyst estimate of $1.11 per share. Analysts were expecting revenue of $790.5 million. The stock has dropped off -9.69% in after hours trades.
Competitors to Watch: Coinstar, Inc. (NASDAQ:CSTR), DISH Network Corp. (NASDAQ:DISH), Comcast Corporation (NASDAQ:CMCSA), DirecTV (NASDAQ:DTV), TiVo (NASDAQ:TIVO), and Time Warner Cable Inc. (NYSE:TWC).
Texas Instruments (NYSE:TXN): The company, which designs and makes semiconductors that it sells to electronics designers and manufacturers all over the world, reported its second quarter earnings today, with net income falling to $672 million (56 cents per share) vs. $769 million (62 cents per share) a year earlier. This is a decline of 12.6% from the year earlier quarter. Revenue also fell 1% to $3.46 billion from the year earlier quarter. TXN beat the mean analyst estimate of 53 cents per share. Analysts were expecting revenue of $3.44 billion.
“We are pleased with the continued success of the TI portfolio in Analog and Embedded Processing. Sequential revenue growth was driven by Embedded Processing up 12 percent and Analog up three percent, andwe believe we again gained market share in both segments,” said Rich Templeton, TI’s chairman, president and chief executive officer. “In the quarter, we also resumed production ahead of schedule at our Japan factories that were damaged in the earthquake, thanks to excellent work by our teams on the ground.”
Competitors to Watch: National Semicond. Corp. (NYSE:NSM), Analog Devices, Inc. (NYSE:ADI), Intersil Corporation (NASDAQ:ISIL), Intel Corporation (NASDAQ:INTC), Maxim Integrated Products Inc. (NASDAQ:MXIM), Broadcom Corporation (NASDAQ:BRCM), and Marvell Tech. Group Ltd. (NASDAQ:MRVL).
Baidu Inc. (NASDAQ:BIDU): The Chinese language Internet search provider reported its results for the second quarter today, with net income for the company rising to $252.6 million (72 cents per share), a 95% rise from a year earlier (35 cents per share). Revenues also rose 78.4% to $528.4 million from the year earlier quarter. BIDU reported adjusted net income of 74 cents per share. By that measure, the company beat the mean estimate of 66 cents per share. It beat the average revenue estimate of $502.1 million.
“Baidu had another excellent quarter, as we benefited from strong traffic growth and improved monetization,” said Robin Li, chairman and chief executive officer of Baidu. “We were especially encouraged with the strong spending from large customers, highlighting the increased value they saw from their marketing spend on Baidu.”
Competitors to Watch: Google Inc. (NASDAQ:GOOG), Sohu.com Inc. (NASDAQ:SOHU), SINA Corporation (NASDAQ:SINA), Yahoo! Inc. (NASDAQ:YHOO), NetEase.com, Inc. (NASDAQ:NTES), Microsoft Corporation (NASDAQ:MSFT), Youku.com Inc (NYSE:YOKU), and AOL, Inc. (NYSE:AOL).