Sector Update: Technology Shares Higher Pre-Market; Down 5% on Q1 Results


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Top Technology Stocks:

MSFT: +0.43%

AAPL: +0.08%

IBM: +0.32%

CSCO: flat

GOOG: +0.68%

Technology shares were higher in pre-market trade Monday.

In technology stocks news, ( SOHU ) fell 5% in recent pre-market trading on Monday after reporting it turned to a net loss in Q1 ended March 31, 2014 despite increased revenues. The internet gaming company also issued its financial outlook for Q2 2014.

Non-GAAP net loss attributable to the company was $48 million, or $1.26 per diluted share, versus net income of $24 million a year earlier. The Capital IQ consensus was for a non-GAAP diluted loss per share of $1.23.

Revenue increased 19% year-over-year to $365 million versus the $366 million Street view.

And, Roper Industries ( ROP ) reported better-than-expected financial results for Q1 and provided guidance for Q2 and fiscal 2014 earnings.

The diversified technology company reported Q1 net earnings of $147 million, or $1.46 per share, compared with $124.9 million or $1.25 per share in the same period last year. The Capital IQ analyst estimate is for $1.35 EPS.

Revenue was $834 million, up 13% from $737.14 million in the same quarter last year. Analysts were expecting revenue of $823.59 million.

Finally, Charter Communications ( CHTR ) reported a Q1 net loss of $37 million in the first quarter of 2014, an improvement on a $68 million net loss in 2013.

Basic and diluted net loss per common share was $0.35 in the first quarter of 2014 compared to $0.68 on a pro forma basis, and $0.42 on an actual basis during the same period last year, vs. analyst expectations of a profit of $0.23, if comparable. Total revenues were $2.2 billion, ahead of $2.04 billion in 2013 and exceeding analyst estimates of $2.18 billion.

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This article appears in: Investing , Commodities
More Headlines for: SOHU , ROP , CHTR

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