MetLife Inc. (NYSE:MET): The insurance company reported its second quarter results, with net income for falling to $1.2 billion ($1.13 per share) vs. $1.56 billion ($1.84 per share) a year earlier. This is a decline of 22.9% from the year earlier quarter. Revenue rose 21.3% to $17.15 billion last quarter. MET beat the mean analyst estimate of $1.11 per share. It beat the average revenue estimate of $16.12 billion. The stock gained 3.42% in after hours trades.
“MetLife delivered strong results during the second quarter,” said Steven A. Kandarian, president and chief executive officer of MetLife, Inc. “We grew earnings per share by 13% over the prior-year quarter while generating a record $11.8 billion in premiums, fees and other revenues. The fact that we were able to deliver these results despite losses from natural disasters in the United States and Japan is a testament to the earnings power of MetLife’s diverse portfolio of businesses. Our Alico integration work is proceeding on plan, and we’re well positioned for continued profitable growth that adds shareholder value.”
Starbucks Corporation (NASDAQ:SBUX): The chain coffee and pastry store operator reported fiscal third quarter earnings today. Net income for Starbucks rose to $279.1 million (36 cents per share) vs. $207.9 million (27 cents per share) in the same quarter a year earlier. This marks a rise of 34.2% from the year earlier quarter. Revenue rose 12.3% to $2.93 billion from the year earlier quarter. SBUX beat the mean analyst estimate of 34 cents per share. It beat the average revenue estimate of $2.85 billion. The stock jumped up 2.60% in after hours trading.
“Starbucks record third quarter results reflect both the underlying strength and continuing momentum we have been experiencing across all of our business segments and around the world,” said Howard Schultz, chairman, president and ceo. “These results demonstrate the power, and the extraordinary global potential, of our unique new business model. Starbucks has never been healthier, more connected to our customers and partners, or better positioned to go after the tremendous business opportunities that lie ahead,” Schultz added.
Competitors to Watch: 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), Wendy’s Arby’s Group Inc. (NYSE:WEN), Sonic Corporation (NASDAQ:SONC) and Darden Restaurants (NYSE:DRI).
Chesapeake Energy Corporation (NYSE:CHK): Chesapeake Energy Corp. is a company that explores and develops properties for the production of crude oil and natural gas from underground reservoirs. It reported earnings for the second fiscal quarter today. Net income for the independent oil and gas company rose to $510 million (68 cents per share) vs. $255 million (37 cents per share) in the same quarter a year earlier. This is a twofold rise from the year earlier quarter. Revenues rose 64.9% to $3.32 billion from the year earlier. CHK reported adjusted net income of 76 cents per share. By that measure, it beat mean analyst estimate of 72 cents per share. It beat the average revenue estimate of $2.76 billion. The stock has risen 1.29% in after hours trades.