Shares of AOL Inc. (NYSE: AOL) slumped about 8.60% by afternoon trade. Although the web services company reported 23% jump in fiscal first quarter net income, driven by higher revenue from advertising, adjusted earnings fell short of Street’s estimate.
For the fiscal first quarter ended March 31, the New York based Company reported net income of $25.9 million or 32 cents a share compared to a profit of $21.1 million or 22 cents a share, in the year-earlier quarter. On adjusted basis, the Company reported a profit of 41 cents a share. Revenue edged up 2% to $583.3 million from $529.4 million. Analysts’ consensus estimate was for earnings of 44 cents a share on revenue of $542.6 million, according to a data compiled by FactSet.
Shares of Wendy’s Co. (NASDAQ: WEN) plunged about 5.25% by midday trade after the fast food chain on Wednesday reported that fiscal first quarter net income tumbled 83% to $2.1 million or penny a share compared to a profit of $12.4 million or 3 cents a share, in the year-earlier quarter. The Company attributed this to unfavorable quarter to quarter comparables. In the same quarter of last fiscal, company recorded substantial income from investments. Although adjusted earnings matched Street’s estimate, revenue and same-store-sales growth fell short of expectation.
Shares of Electronic Arts Inc. (NASDAQ: EA) skyrocketed about 15% by afternoon trade after the game developer late last evening reported adjusted earnings of 55 cents a share for the fiscal fourth quarter, which was 2 cents below expectation but revenue was slightly better than Street’s estimate. For the fiscal quarter, the Company is expecting revenue of $450 million compared to analysts’ consensus estimate of $532 million but it expects better performance during the course of this fiscal year, particulary in the holiday-season quarter. Meanwhile analysts at Monness Crespi & Hardt boosted its rating on the stock to “neutral” from “sell” on Wednesday.
Shares of Symantec Corporation (NASDAQ: SYMC) slumped about 3.80% by afternoon trade after the software security provider, late last evening, handed disappointing guidance on fiscal first quarter. For the first quarter, Symantec is expecting non-GAAP earnings of 35 cents to 36 cents on revenue of $1.61 billion to $1.65 billion while analysts’ consensus estimate was for earnings of 44 cents a share on sales of $1.7 billion.
For the recently concluded quarter (fiscal fourth quarter), the Company posted adjusted earnings of $314 million or 44 cents a share compared to $283 million or 38 cents a share, in the same quarter of last fiscal. Revenue climbed 4% to $1.75 billion from $1.68 billion, in the same quarter of last year. Wall Street analysts were expecting earnings of 38 cents a share on revenue of $1.73 billion.
Shares of Zillow Inc. (NASDAQ: Z) plunged about 9.80% by afternoon trade after the online real estate marketplace, late last evening, reported wider-than-expected losses for the fiscal first quarter. Zillow reported a loss of 11 cents a share against analysts’ consensus estimate for a loss of 3 cents a share. Revenue stood at $39 million, beating Street’s consensus estimate of $37 million. The Company however lifted its full-year guidance, citing sharp increase in subscriptions.
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