Visa profit rises 35 pct despite recession
Visa says its fiscal first-quarter profit rose by 35 percent as payment volume rose despite the recession. The results beat Wall Street expectations. Excluding one-time charges, Visa earned $599 million, or 78 cents per share, in the latest quarter. That easily beat Wall Street's expectations. Thomson Reuters says analysts expected a profit in the latest quarter of 66 cents per share....
*I expect this to be the last positive Q for VISA for quite some time considering the wave of expected defaults to come in latter part of 2009 and early 2010, stimulus or no stimulus.
Pulte narrows 4Q loss on lower charges
Pulte Homes Inc. says its fourth-quarter loss narrowed as the homebuilder booked fewer charges on land and unsold inventory, but also saw revenue plummet 43 percent. The results included $380 million in pretax charges for inventory and land. Revenue dropped 43 percent to $1.7 billion from $2.9 billion in the fourth quarter of 2007....
*but a loss is still a loss
Cisco 2Q profit down 27 pct, but beats estimates
Profit fell 27 percent at Cisco Systems Inc. in its most recent quarter, but the company still beat Wall Street's lowered expectations for earnings and revenue Wednesday. Net income in Cisco's fiscal second quarter was $1.5 billion, or 26 cents per share. That was down from $2.1 billion, or 33 cents per share, a year ago. Excluding items, earnings were 32 cents per share....
*I could beat your earnings estimate if you lowered your expectations on me too! And what looked like happiness over their numbers, all glory is fleeting, stock dropped from a high of 16.16 to a close of 15.84 to a drop (thud) of 15.14 after hours.
No comments:
Post a Comment