Roper Technologies Reports Decline in Profits
Roper Technologies Inc (NYSE:ROP) reported a revenue of $902.4 million for the first quarter, which represents an increase of 4.3% year-over-year and beats the consensus estimate of $895.9 million. Moreover, the company’s adjusted net income of $1.50 per share topped the estimates of $1.46. The company expects EPS between $1.56 to $1.61 in the second quarter, which is significantly below the consensus estimate of $1.71.
A total of 19 funds among those tracked by us held stakes in Roper Technologies Inc (NYSE:ROP) heading into 2016, including Dan Loeb’s Third Point, which owned 1.4 million shares, according to its last 13F filing.
First Data Corp Halves Its Losses
First Data Corp (NYSE:FDC)’s stock has gained more than 5% today after the company posted adjusted earnings per share of $0.24 for the first quarter, beating the estimates by $0.01 per share. First Data narrowed its loss to $56 million from $112 million a year earlier. The payment solutions company, which went public last year, reported a consolidated revenue of $2.78 billion, up from $2.70 billion a year ago, beating the consensus estimate of $2.77 billion. Frank Bisignano, the CEO of the company, said in a statement that the company managed its expenses and focused on revenue growth to achieve results. Bisignanom, who left JPMorgan Chase & Co. in 2013, has been paid a massive salary package and he has been under pressure to drag the struggling company out of problems.
Overall, 20 hedge funds from our database held stakes in First Data Corp (NYSE:FDC) with a total value of approximately $593.3 million.
KKR & Co. L.P. (NYSE:KKR)’s Revenue Declines
Shares of KKR & Co. L.P. (NYSE:KKR) have lost more than 4% after the company missed the bottom line estimates for the first quarter. Even though KKR’s revenue of $279.90 million, managed to beat analysts’ estimates of $276.9 million, its net loss of $0.65 per share, was higher than the expected loss of $0.33. In a statement, the company said that the first quarter was challenging due to increasing market volatility around the world. In addition, a significant portion of the losses came on the back of a 19% drop registered by its stake in First Data Corp, which represents its largest investment.
A total of 23 funds held long positions in KKR & Co. L.P. (NYSE:KKR) with a total value of approximately $357.9 million at the end of the last year. John W. Rogers’ Ariel Investments reported ownership of more than 8.2 million shares in its last 13F filing.