Starbucks and VeriSign Attract Major Trading Attention Post Earnings
Starbucks Corporation (NASDAQ:SBUX) reported its results for the first quarter. Net income for Starbucks Corporation rose to $382.1 million (50 cents per share) vs. $346.6 million (45 cents per share) in the same quarter a year earlier. This marks a rise of 10.2% from the year earlier quarter. Revenue rose 16.4% to $3.44 billion from the year earlier quarter. SBUX beat the mean analyst estimate of 49 cents per share. It beat the average revenue estimate of $3.29 billion.
“Starbucks continues to expand our global footprint and accelerate the innovation and momentum in our CPG business,” said Howard Schultz, Starbucks chairman, president and ceo. “Our first quarter performance represents the highest quarterly earnings in the history of the company, and is a testament to the hard work and commitment of our 200,000 partners (employees) around the world. Starbucks is firing on all cylinders and taking full advantage of the many global opportunities that lie ahead,” Schultz added.
Competitors to Watch: Einstein Noah Restaurant Group, Inc. (NASDAQ:BAGL), Panera Bread Company (NASDAQ:PNRA), Caribou Coffee Co., Inc. (NASDAQ:CBOU), Peet’s Coffee & Tea, Inc. (NASDAQ:PEET), McDonald’s Corporation (NYSE:MCD), Yum! Brands, Inc. (NYSE:YUM), Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR), Tim Hortons Inc. (NYSE:THI), Wendy’s Arby’s Group Inc. (NYSE:WEN), Sonic Corporation (NASDAQ:SONC) and Darden Restaurants (NYSE:DRI).
VeriSign Inc. (NASDAQ:VRSN) reported its results for the fourth quarter. Reported a profit of $53.8 million (34 cents per diluted share) in the quarter. The application software company had a net loss of $40.5 million or a loss of 23 cents per share in the year earlier quarter. Revenue rose 13.9% to $203.6 million from the year earlier quarter. VRSN reported adjusted net income of 40 cents per share. By that measure, the company beat the mean estimate of 38 cents per share. Analysts were expecting revenue of $203.5 million.
“In a year that saw strong growth in global internet adoption, increased demand on our DNS infrastructure, and a growing need for network security services, Verisign delivered security and stability. We were able to both invest in strengthening our infrastructure, and manage our business for growth. Also in 2011, we completed four years of board-directed restructuring, including divesting non-core businesses, and relocating our corporate headquarters. We returned divestiture proceeds to our shareholders. This restructuring has resulted in a more efficient, focused Verisign that we believe is better prepared for the opportunities ahead. We delivered for both the global community of Internet users that increasingly rely on us, and for our shareholders,” said Jim Bidzos, chairman and chief executive officer of Verisign.
Competitors to Watch: Symantec Corporation (NASDAQ:SYMC), Tucows Inc. (AMEX:TCX), Innodata Isogen, Inc. (NASDAQ:INOD), Microsoft Corporation (NASDAQ:MSFT), InterNAP Network Services (NASDAQ:INAP), Web.com Group, Inc. (NASDAQ:WWWW), Yahoo! Inc. (NASDAQ:YHOO), Neustar, Inc (NYSE:NSR), SAVVIS, Inc. (NASDAQ:SVVS), and Wave Systems Corp. (NASDAQ:WAVX).
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