Earnings Stealing Headlines: See How Yahoo, Intel, Coca-Cola, DISH, and VMware Performed in Q1

VMware Surges on Earnings Beat

VMware, Inc. (NYSE:VMW) has surged by more than 12% in morning trading after the company reported earnings of $0.86 per share on revenue of $1.59 billion, beating estimates by $0.02 per share and $10 million respectively. Operating cash flow for the time period was $720 million while free cash flow was $679 million. Although license revenue dropped by 1% to $572 million, the company authorized a $1.2 billion share buyback program. CEO Pat Gelsinger remarked on the positive results:

“Q1 was a good start to 2016. We made solid progress with our strategic goal of building momentum for our newer growth businesses and in the cloud. We continue to see momentum across our portfolio of growth products and businesses, including NSX, Virtual SAN and End-User Computing.”

VMware, Inc. (NYSE:VMW) was in 42 top fund’s portfolios at the end of 2015, out of the 786 top funds that Insider Monkey tracks in our database.

Yahoo Earnings Exceed Expectations

Yahoo! Inc. (NASDAQ:YHOO) is 3% higher today after the company beat expectations. For the first quarter, the internet giant earned $0.08 per share on revenue of $1.09 billion, versus estimates of $0.07 per share in earnings and $1.08 billion in revenue. Mobile, video, native, and social revenue rose by 6.8% year-over-year to $390 million and is on target to hit management’s target of $1.8 billion for the full year. Although Yahoo’s second quarter GAAP revenue guidance of $1.05 billion-to-$1.09 billion, and EBITDA guidance of $135 million-to-$155 million were slightly lower than expectations, traders are brushing the numbers off in anticipation of a sale of Yahoo’s core assets, which might fetch anywhere from $4 billion-to-$8 billion. 84 elite funds in our system owned Yahoo! Inc. (NASDAQ:YHOO) at the end of the fourth quarter.

Intel Announces Massive Job Cuts Along With Quarterly Results

For the first quarter, Intel Corporation (NASDAQ:INTC) reported earnings of $0.54 per share on revenue of $13.80 billion, beating EPS estimates of $0.47 while missing slightly on the $13.83 billion top-line expectations. The company will cut 11% of its workforce or up to 12,000 jobs in an effort to control costs as the slowing PC market weighs on the company’s cash cow PC/mobile CPU segment. Management expects second quarter revenue to be $13 billion-to-$14 billion, while the marked had anticipated $14.16 billion. The company also expects mid-single digit sales growth for 2016, down from the previous mid-to-high single digit sales growth guidance previously offered. The number of top funds in Intel Corporation (NASDAQ:INTC) rose by 11 to 56 at the end of December. Shares are up by 0.70% today.

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