Juniper's Revenue Rises As Telecom Clients Ramp Up Networks
Network gear maker Juniper Networks Inc reported a higher-than-expected 10 percent rise in quarterly revenue as U.S. telecom carriers spent more to ramp up their networks to manage increasing data traffic on smartphones and tablets. Juniper's revenue from telecom customers, including Verizon Communications Inc and AT&T Inc,rose about 10 percent in the first quarter ended March 31.The telecom services business accounted for more than two-thirds of Juniper's total revenue.
EBay Inc posted a 13 percent rise in quarterly revenue on Wednesday, as it fended off increasing competition from arch-foe Amazon.com Inc and a growing number of smaller niche retail websites.The company reported second-quarter revenue of $4.37 billion, versus $3.88 billion a year ago and the $4.38 billion that Wall Street had expected, on average.
Facebook Inc (NASDAQ:FB) is expected to report fiscal third-quarter earnings after the bell on Wednesday, and analysts estimate the company will issue earnings of 12 cents per share on revenue of $1.91 billion, compared with a loss of 2 cents a share on revenue of $1.26 billion in the year-ago quarter. Facebook shares edged down 0.35 percent to $49.22 in afternoon trading ahead of the company’s earnings announcement.
AT&T Inc raised its full-year revenue forecast for a second time, citing strong growth in its wireless business. The No 2 U.S. telecom services provider said on Tuesday it now expects full-year revenue to increase 5 percent, compared with its prior forecast of 4 percent. Net subscriber additions to the company's wireless services are expected to exceed 800,000 in the second quarter, it said.
Shares of CVS Caremark are climbing after the drugstore and pharmacy chain reported fourth-quarter earnings that climbed more than 12 percent. The company said results were boosted by pharmacy revenue at its established drugstores, which grew 6.8 percent during the quarter.
Network equipment maker Cisco Systems Inc posted a lower-than-expected 5.5 percent decline in quarterly revenue, and the company's shares edged lower. Cisco had a net profit of $2.2 billion in the third quarter, down from $2.5 billion in the year-ago quarter. Cisco reported revenue of $11.5 billion, down from $12.2 billion a year earlier. Wall Street on average had expected $11.36 billion.
eBay just reported first quarter earnings this afternoon, beating expectations. Non-GAAP earnings increased 11%, to $899 million or $0.70 per diluted share, over the prior year, driven by strong top line growth, says the company. Revenue for the first quarter increased 14% to $4.3 billion, compared to the same period in 2013. Analysts expected earnings of $0.67 per share on sales of $4.22 billion
Dish Network Corp. (NASDAQ:DISH) reported a loss of $11.1 million during the second quarter. The loss amounted to 2 cents per share, compared with earnings of 50 cents per share on revenue of $3.57 billion in the year-ago period. Revenue rose to $3.61 billion. Dish Network was expected to report second-quarter earnings of 54 cents per share on revenue of $3.65 billion, according to analysts polled by Reuters. As of 10:45 a.m. Eastern, share of Dish Network Corp rose 1.61 percent to $45.43 in m
Visa, the world's largest credit and debit card company, reported a 26 percent rise in quarterly profit as consumers spent more using cards on its network. Visa and rival Mastercard have been helped by increasing consumer spending in the United States and a shift to plastic payments in emerging markets. Net income attributable to the company rose to $1.60 billion, or $2.52 per Class A share, from $1.27 billion, or $1.92 per Class A share, a year earlier.
Revenues at Time Warner's publishing division, Time Inc., dwindled two percent to $818 million in third quarter. That $20 million drop comes as Time Warner CEO Jeff Bewkes provides a little more detail on his plan to spin off the unit, saying the transaction should take place in the second quarter of 2014. In August, he said the separation would occur early next year. Time Inc.'s subscription revenues have been down for some time now, and ad sales have also slacked off.
Shares of Dish network are climbing on Friday after the satellite TV company reported a 38 percent jump in fourth-quarter profit on increased subscriber revenue growth. The company reported net income of $288 million, or 63 cents a share, for the quarter.
After the closing bell on Thursday, Google Inc. (NASDAQ: GOOG) is expected to report fiscal third-quarter EPS of $8.46 on revenue of $14.84 billion, compared with a profit of $6.53 a share on revenue of $11.33 billion in the year-ago quarter. Investors will be keeping an eye on growth in ad revenue and Motorola Mobility sales. Shares of Google edged down 0.66 percent to $891.82 in morning trading. Before the bell on Thursday, Verizon Communications Inc. (NYSE: VZ) and Goldman Sachs Group Inc.
LinkedIn posted a higher-than-expected 46 percent increase in quarterly revenue, amid concerns that the company is struggling to sustain its rapid pace of growth. The social networking company, which is geared toward connecting professionals with prospective employers, foresees revenue of $500 million to $505 million this quarter, compared with an average Wall Street forecast of $505.1 million. For all of 2014, it expects sales of $2.06 billion to $2.08 billion.