Verizon Wireless (NYSE:VZ): The results are in: second-quarter earnings per share have clocked in at 73 cents, enough to slide by projections by 1 cent. Revenue of $29.79 billion missed by $0.04 billion. The company recorded 941,000 retail postpaid net additions, up 6 percent from the year before, bringing the total to 94.3 million subscribers. The company formally announced the Edge monthly installment and early upgrade plan, and noted that iPhones made up 51 percent of the quarter’s smartphone sales, or 3.9 million units.
Eli Lilly (NYSE:LLY): In efforts to help cushion the impact of patent expirations in 2014, Eli Lilly is looking to suspend base-pay increases to help trim back costs in addition to reducing employee bonuses paid out in 2015 for its performance next year. The loss of patent exclusivity is expected to cost the company around 20 percent of revenue for the period, and the base pay increases will return in 2015.
International Business Machines Corp. (NYSE:IBM): IBM announced its latest quarterly results Wednesday night after the ball. Earnings per share of $3.91 beat expectations by 14 cents, as revenue of $24.92 billion narrowly missed by $450 million. The company recorded a $1-billion restructuring charge during the period, which also saw a gross margin increase to 49.7 percent. Hardware sales still struggled, down 12 percent year-over-year. The company now anticipates full 2013 earnings per share figures to reach $16.90, above the consensus of $16.64 and previous guidance of $16.70.
Transition Therapeutics Inc. (NASDAQ:TTHI): Transition’s shares have rocketed over 35 percent after the FDA approved a Fast Track Designation for the development of ELND005, Transition’s treatment for the Neuropsychiatric Symptoms of Alzheimer’s disease.
Aruba Networks Inc. (NASDAQ:ARUN): A good word from William Blair has put shares up slightly, as the firm reports that sales are rebounding in the July quarter, though expectations remain cautious dur to the company’s weaker guidance from earlier in the year.
Don’t Miss: Verizon Slides on Unimpressive Earnings.