Google’s Financials Made Public — Here Are The Numbers
Stocks are lower on
mixed economic news. 10 Year
notes are currently trading at their highest levels since September 2003 amid
continued interest rate hike concerns. United Airlines
(
UALAQ |
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PowerRating)
reported a smaller-than-expected loss of $59 million with revenue up 17% of $3.7
billion. Its average fuel costs rose 4% to $1.074 a gallon. The company hopes to
emerge from Chapter 11 bankruptcy.
Abaxis
(
ABAX |
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PowerRating) posted earnings up 124%
to $20.9 million amid a one-time tax benefit with revenue up 35% at $12.7
million. Excluding one-time earnings, ABAX beat estimates by 2 pennies.
Flamel Technologies
(
FLML |
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PowerRating) said its net income rose to $4.3 million with revenue up at $14.4
million. Ingram Micro
(
IM |
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Chart |
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PowerRating) posted earnings of $37.6 million with
revenue up at $6.28 billion on stronger tech
demand. The company guided Q2 below consensus.
Electronic Arts
(
ERTS |
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PowerRating) reported
earnings of $90 million with revenue up $598 million on continued strong sales
of video games like “NFL Street”. Taro Pharmaceutical
(
TARO |
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PowerRating) dropped
27% after reporting earnings 21% lower at $11.1 million due to costs of
developing new products. Revenue rose 22% to $84.1 million.
GDP came in worse than expected at
4.2%. Initial claims fell a whopping 18,000 with economists expecting only
10,000. Fed Chairman Alan Greenspan is known to watch personal consumption
expenditures (PCE), a key measure of inflation pressure. The index climbed to a
2% annual rate — almost doubling Q3 and Q4. This is some cause for concern
among economists. The FOMC meets next Tuesday and is not expected to raise rates
but may lay the groundwork for future rate increases.
ExxonMobil
(
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beat the Street by $0.08 cents with earnings down 23% to $5.44 billion on
revenue of $67.6 billion. XOM raised its quarterly dividend to 27 cents a share,
the twenty-second consecutive year the company has raised its dividend.
Raytheon
(
RTN |
Quote |
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PowerRating) reported higher earnings of $128 million with increasing
pension costs taking a big bite out of income. Revenue for the quarter rose 11%
to $4.7 billion. RTN upped its 2004 earnings outlook to $1.35. Georgia
Pacific
(
GP |
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PowerRating) posted higher earnings of $147 million with revenue at $5.22
billion on rising lumber prices.
Google issued a massive
750-page S1 document outlining its financials.
Here are the revenue figures:
| Â | Revenue | EPS |
| 2001Â | 86.4 million | 0.04 |
| 2002 | 347.8 million | 0.45 |
| 2003 | 961.9 million | 0.41 |
| Q4 | 389.6 million | 0.24 |
The company hopes to raise $2.7
billion in its IPO which will be the biggest Dutch auction ever. The full
prospectus can be found at www.sec.gov.
| Dow | -70.33 |
10272.27 |
| S&P 500 |
-8.53 | 1113.88 |
| Nasdaq | -30.78 |
1958.78 |
The day’s leading sectors were
Amex Gold Bugs
(
HUI.X |
Quote |
Chart |
News |
PowerRating) +1.18%, Gold and Silver
(
XAU.X |
Quote |
Chart |
News |
PowerRating)
+1.05%, Banks
(
BIX.X |
Quote |
Chart |
News |
PowerRating) +0.13%, and Insurance
(
IUX.X |
Quote |
Chart |
News |
PowerRating)
+0.05%.
Weak today were Networking
(
NWX.X |
Quote |
Chart |
News |
PowerRating) -3.51%; and Oil Services
(
OSX.X |
Quote |
Chart |
News |
PowerRating) +3.35%.
Economic news releases today
included GDP at 4.2%, Chain deflator higher at 2.5% and employment costs up
11.%. Weekly initial claims fell by 18,000 with the Help-Wanted index at 39.
10-year Notes were -135
at 110 055
The dollar
was -0.63 at 90.80
Gold was +0.50 at 387.60
Crude Oil was +0.15 at
37.46
Volume was 1,849,000,000
on the NYSE, and 2,343,000,000 on the Nasdaq.
Market breadth was negative.
| NYSE | Issues | |
| Advancing |
855 | Up Vol 363 |
| Declining | 2424 | Down Vol 1433 |
| Ratio | 2.84 | 3.97 |
| Nasdaq |
||
| Advancing |
855 | Up Vol 360 |
| Declining |
2369 | Down Vol 1964 |
| Ratio | 2.79 | 5.44 |
Stocks in the news:
Macromedia
(
MACR |
Quote |
Chart |
News |
PowerRating) doubled its net
income to $14.7 million on revenue of $102 million. Merrill Lynch upgraded the
stock on the news.
Gillette
(
G |
Quote |
Chart |
News |
PowerRating) posted earnings of $376 million on sales
of 2.24 billion with a 16% jump in razor and blade sales.
Time Warner
(
TWX |
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Chart |
News |
PowerRating) reported earnings of
$961 million before one-time charges. Revenue rose 9.2% to $10.1 billion. TWX
reduced its debt balance to $18.8 billion from $22.7.
LSI Logic
(
LSI |
Quote |
Chart |
News |
PowerRating) earned $8 million on
sales of $452 million and guided the Street lower for the next quarter with
revenue at $460 million and earnings of two cents.
Brice Wightman
bricew@tradingmarkets.coM