Shares of Electronic Arts Inc. (EA, Financial) fell after the company reported first quarter earnings per share of 95 cents on revenue of $749 million, a 3.4% year-over-year decline. The company beat earnings estimates by 22 cents and revenue estimations by $6.58 million.
Digital net bookings for the trailing 12 months were $3.55 billion, up 13% year-over-year and representing 69% of total net bookings.Ă‚
The company had net cash provided by operating activities of $120 million for the quarter and $1.636 billion for the trailing 12 months. Further, it repurchased 2.3 million shares for $300 million and 6.2 million shares for $751 million during the trailing 12 months.
Shares of First Solar Inc. (FSLR, Financial) also fell after reporting a second quarter loss per share of 46 cents on revenue of $309.32 million. The company fell short of earnings estimates by 48 cents and revenue estimations by $193.79 million.
The company now expects net sales to be between $2.5 billion to $2.6 billion, different than previous guidance of $2.45 billion to $2.65 billion. Gross margin is expected to be 20.5-21.5%, lower than the previously expected 21.5-22.5%. The operating income is expected to be $120 million to $160 million, lower than the previous forecast of $130 to $180.
Shares of Intel Corp. (INTC, Financial) fell more than 8% after reporting second quarter earnings per share of $1.04 on revenue of $16.96 billion. The company beat earnings estimates by 7 cents and revenue estimations by $180 million.
Intel Corp. achieved revenue growth in every business segment. The PC business grew 6%, driven by strong demand for Intel's products, with particular strength in gaming and commercial. The Client Computing Group (CCG) launched several new 8th Gen Intel Core processors including: the powerful 8th Gen Intel Core i9 processor for high performance laptops, 8th Gen Intel® Core™ vPro™ processors for business, and the 8th Gen Intel® Core™ i7-8086K limited-edition processor for gaming.
“After five decades in tech, Intel is poised to deliver our third record year in a row. We are uniquely positioned to capitalize on the need to process, store and move data, which has never been more pervasive or more valuable,” said Bob Swan, Intel CFO and Interim CEO.Â
Intel's guidance for the third quarter includes revenue of $18.1 billion and operating margin of 32.5% in a GAAP basis and 34% on a non-GAAP basis, with earnings per share of $1.09 and $1.15, respectively.
Disclosure: The author holds no position in any stocks mentioned.
