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Earnings roundup: Apple, VMware

Tue, 07/20/2010 - 1:45pm
The Associated Press

Among the earnings stories for Tuesday, July 20, from AP Financial News:

Top stories:

CUPERTINO, Calif. (AP) — Apple Inc. said its fiscal third-quarter net income rose 78 percent, thanks to sales of its iPhone and the new iPad tablet computer.

Other stories:

PALO ALTO, Calif. (AP) — VMware Inc., a maker of computer virtualization software, said that its second-quarter net income more than doubled on solid demand across all products and regions. It also raised its revenue guidance for the year and shares jumped.

SCOTTS VALLEY, Calif. (AP) — Hard disk-drive maker Seagate Technology posted a profit in its fiscal fourth quarter, reversing a loss, as revenue grew 13 percent. But the earnings fell short of expectations.

KALAMAZOO, Mich. (AP) — Medical device maker Stryker Corp. said its second-quarter net income increased almost 10 percent on higher sales domestically for two of its products.

SAN FRANCISCO (AP) — Yahoo Inc.'s turnaround effort wavered in the second quarter as the Internet company's lackluster revenue growth overshadowed a surge in net income.

ST. LOUIS (AP) — Peabody Energy's second-quarter profit more than doubled, the miner said, easily topping most expectations thanks to strong demand for the high-margin Australian coal that Asia needs to feed its booming steel industry.

NEW YORK (AP) — Stock exchange trading firm LaBranche & Co. posted a second-quarter loss, reversing a year-ago profit, as it lost money on trading and collected fewer fees.

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