By Dow Jones
Bank of America profit falls
Bank of America Corp.(BAC)said Friday its first-quarter profit
fell to $3.2 billion, or 28 cents a share, from $4.2 billion, or 44
cents a share, in the year-ago period. Revenue fell 11% to $32
billion. Per share earnings are after preferred stock dividends and
accretion. Analysts surveyed by FactSet Research had estimated, on
average, profit of 9 cents a share on revenue of $28 billion.
First Horizon takes Q1 loss of 12 cents a share
First Horizon National Corp.(FHN)said Friday its first-quarter
loss narrowed to $27.7 million, or 12 cents a share, from a loss of
$82.8 million, or 37 cents a share, in the year-ago period. Wall
Street analysts expected a loss of 16 cents a share, according to a
survey by FactSet Research.
General Electric profit down by nearly a third
General Electric(GE)said first-quarter profit attributable to
shareholders dropped 32% to $1.87 billion, or 17 cents a share, as
revenue fell 5% to $36.61 billion. Earnings drops at GE Capital,
technology infrastructure and NBC Universal offset growing profits
at energy infrastructure. From continuing operations, the
industrial bellwether said it earned 21 cents a share, compared to
FactSet-compiled estimates of earnings of 17 cents a share on
revenue of $37.3 billion. GE said it may evaluate additional
restructuring that will improve earnings power going forward.
Mattel returns to profit as sales climb 12%
Mattel(MAT)swung to a first-quarter profit of $24.8 million, or
7 cents a share, after losing $51 million, or 14 cents a share in
the prior-year period, as sales rose 12% to $880.1 million. Demand
for Disney Princess dolls and World Wrestling Entertainment and Toy
Story-related items helped lift revenue. Analysts polled by FactSet
had expected a 2 cents a share loss on revenue of $861 million.
Autonomy expects in-line EPS, sales
Enterprise search software firm Autonomysaid it expects
first-quarter revenue in line with analyst estimates of
approximately $193 million and adjusted earnings per share of 25
cents. "We are pleased to report results in line with expectations,
during a period in which we continued to see positive momentum,"
said CEO Mike Lynch.
Aggreko lifts capex forecast, says trading in line
Aggrekosaid Friday that trading in the first three months of the
year was in line with expectations, with revenue up 5%, or 8%
excluding the impact of exchange rate fluctuations and pass-through
fuel. The supplier of temporary power equipment said net debt was
reduced by 12 million pounds over the course of the quarter to 163
million pounds ($253 million). It added that, due to strong order
intake in its international power projects business, it now expects
fleet capital expenditure to be around 220 million pounds, or 20
million pounds higher than its previous guidance. However, as the
additional fleet is unlikely to begin earning revenue until well
into the second half of the year, its expectations for trading for
the year remain broadly unchanged.
-MarketWatch; 415-439-6400; AskNewswires@dowjones.com
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