Thursday headlines include Ford beating earnings estimates,
Caterpillar topping estimates and raising its guidance, Broadcom
exiting the baseband business, and earnings from 3M and
Automaker Ford (
) said it earned32 cents per share in the second quarter, or 40
cents per share on an adjusted basis. Analysts had expected the
company to earn 36 cents per share. Revenue was $37.4 billion,
topping estimates for $36.2 billion. The company's profits in
North America set a record at $2.4 billion, and its recently
struggling European operations made $14 million.
Heavy equipment maker Caterpillar (
) earned $1.57 per share in the second quarter on $14.15 billion
in sales. Analysts had expected the company to earn $1.52 per
share on $14.4 billion in sales. The company also raised its
full-year guidance to $5.75 per share, from a prior forecast for
$5.55 per share. Analysts had expected $6.23 per share.
Chipmaker Broadcom (
) plans to stop making cellular baseband chips and will cut
one-fifth of its workforce as part of the restructuring process.
The company had previously said it was considering selling the
) said Thursday that it earned $1.91 per share in the second
quarter on $8.13 billion in revenue. Analysts had expected the
company to earn $1.91 per share on $8.09 billion in revenue. The
company reaffirmed its previous full-year guidance range of $7.30
to $7.55 per share, which compares to analyst forecasts for $7.46
Finnish company Nokia (
) said Thursday that it earned more than analysts were expecting
in the second quarter, helped by margin expansion in its networks
business. Operating profit in the unit, which not is about 90% of
the company's business was 281 million euros, compared to 197
million euros expected by analysts. Operating margin expanded to
11 percent from 7.7 percent.
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