Morning Earnings Roundup: Netflix Posts Huge Gains
Several other big-name companies reported earnings last night and this morning, and some of the results were more well received with investors.
Here were some of the more noteworthy non-Apple companies to report earnings since the market closed on Wednesday:
- Netflix ( NFLX ): What a turnaround for the video-subscription business. On the heels of a disastrous year - falling from a high of $300 a share to a low of $53 a share - no one was expecting much from Netflix in the fourth quarter. But the company booked profits of 13 cents a share, defying Wall Street estimates of a 13-cents-per-share loss. The surprising earnings beat is doing wonders the stock, sending NFLX shares up 37% in early trading. At $141 a share, this is the highest the stock has been since September 2011.
- Xerox ( XRX ): The copy-machine giant had its best quarter-to-quarter improvement in more than a year, as earnings beat analyst estimates. The company's earnings of 30 cents a share edged forecasts of 29 cents a share. The narrow beat was enough to push shares up more than 4% this morning.
- United Continental Holdings ( UAL ): The newly conjoined venture between United and Continental airlines struggled in the fourth quarter, posting a loss of $620 million. Luckily, the stock wasn't punished, as the company's losses on an earnings-per-share basis were no worse than what analysts were expecting. That's why the stock is up 2.5% this morning.
As the dust starts to settle on Apple's earnings miss, more companies are set to report later today. Microsoft ( MSFT ) and AT&T (T) both report after the bell.