Earnings Roundup

MasterCard Inc MA reported a 33% rise in its second-quarter profit. MasterCard reported its quarterly profit at $608 million, or $4.76 per share, up from $458 million, or $3.49 per share, in the year-earlier period. However, analysts were expecting earnings of $4.22 per share. Its net revenue climbed 22% to $1.7 billion. Time Warner Inc (NYSE; TWX) released its results for the second quarter on Wednesday. Time Warner reported its quarterly profit at $638 million, or $0.59 per share, up from $562 million, or $0.49 per share, in the year-earlier period. Its revenue climbed to $7.03 billion from $6.38 billion. On an adjusted basis, Time Warner's earnings came in at $0.60 per share. However, analysts were expecting earnings of $0.56 per share on revenue of $6.81 billion. Comcast Corp CMCSA reported a 15% rise in its second-quarter profit. Comcast reported its quarterly profit at $1.02 billion, or $0.37 per share, up from $884 million, or $0.31 per share, in the year-earlier period. The company's revenue jumped 51% y/y to $14.3 billion, from $9.53 billion. Excluding items, Comcast's earnings came in at $0.42 per share. However, analysts were expecting earnings of $0.41 per share on revenue of $13.65 billion. Clorox Co CLX posted a 1% drop in its FQ4 net income on Wednesday. Clorox reported its quarterly earnings at $169 million, or $1.26 per share, down from $171 million, or $1.20 per share, in the year-ago period. Its sales climbed 3.7% to $1.48 billion. However, analysts were expecting earnings of $1.19 per share on revenue of $1.47 billion. Marsh & McLennan Companies Inc MMC reported a 19% rise in its second-quarter net income. Marsh & McLennan reported its quarterly net income at $282 million, or $0.50 per share, up from $236 million, or $0.43 per share, in the year-earlier period. Its adjusted earnings came in at $0.50 per share. The company's revenue climbed 12% to $2.9 billion. However, analysts were expecting earnings of $0.48 per share and revenue of $2.82 billion. Quanta Services Inc PWR released its results for the second quarter on Wednesday. Quanta Services reported its quarterly net income at $34.3 million, or $0.15 per share, versus income of $33.3 million, or $0.16 per share, in the year-earlier period. Excluding items, its earnings came in at $0.19 per share. Its revenue climbed 16% y/y to $1.01 billion, from $870.5 million. However, analysts were expecting earnings of $0.15 per share on revenue of $955.4 million. Quanta Services expects full-year revenue between $4.3 billion and $4.6 billion and earnings between $0.80 and $0.90 per share. Constellation Energy Group Inc CEG reported downbeat second-quarter earnings and lowered its full-year earnings forecast on Wednesday. Constellation Energy posted its quarterly net profit at $108.1 million, or $0.49 per share, up from $83.8 million, or $0.36 per share, in the year-ago period. Excluding items, the company's earnings came in at $0.76 per share. Its revenue climbed about 1% to $3.35 billion. Analysts were expecting earnings of $0.84 per share on revenue of $3.86 billion. Constellation Energy lowered its 2011 profit projections by $0.05 per share to $3.05 to $3.35 per share. Analysts were expecting earnings of $3.20 per share. Nicor Inc GAS reported a decline in its second-quarter net income on Wednesday. Nicor reported its quarterly net income at $19.2 million, or $0.42 per share, down from $24.2 million, or $0.53 per share, in the year-ago period. Its revenue surged 12% y/y to $477 million from $425.6 million. However, analysts were expecting earnings of $0.31 per share on revenue of $396 million. Nicor projects 2011 diluted earnings per share in the range of $2.30 to $2.50. R.R. Donnelley & Sons Co RRD reported a decline in its second-quarter profit. RRD reported its quarterly profit at $12.2 million, or $0.06 per share, down from $88.8 million, or $0.42 per share, in the year-ago period. Its revenue climbed 8.9% to $2.62 billion. Excluding one-time costs, the company's earnings came in at $0.53 per share. However, analysts were expecting earnings of $0.52 per share on revenue of $2.66 billion. Dunkin' Brands Group Inc DNKN reported a 1% decline in its second-quarter profit. Dunkin' Brands reported its quarterly profit at $17.2 million, down from $17.3 million, in the year-ago period. Its revenue surged 4.4% to $157 million. Revenue from Dunkin' Donuts gained 6.3% in the US and 17.3% internationally. However, revenue from Baskin Robbins dropped 5.8% in the US and rose 8% internationally. Garmin Ltd GRMN reported a 19% drop in its second-quarter earnings. Garmin reported its quarterly profit at $109.5 million, or $0.56 per share, down from $134.8 million, or $0.67 per share, in the year-ago period. Excluding items, Garmin's earnings came in at $0.63 per share. Its revenue declined 7.5% to $674 million. However, analysts were expecting earnings of $0.68 per share on revenue of $637 million. Garmin also lowered its full-year earnings forecast to $2 to $2.15 per share, but it lifted its revenue forecast to $2.5 billion to $2.6 billion, from $2.25 billion to $2.5 billion. Public Service Enterprise Group Inc PEG released its results for the second quarter on Wednesday. PSEG reported its quarterly earnings at $323 million, or $0.63 per share, up from $224 million, or $0.44 per share, in the year-earlier period. Its adjusted earnings came in at $0.63 per share. However, analysts were expecting earnings of $0.54 per share on revenue of $2.3 billion. PSEG affirmed its 2011 operational earnings forecast in the range of $2.50 to $2.75 per share. SPX Corp SPW reported a decline in its second-quarter profit. SPX reported its quarterly profit at $34.3 million, down from $78.8 million, in the year-ago period. Its revenue climbed 16% to $1.38 billion. The company's earnings per share dropped to $0.67 from $1.57. SPX's adjusted earnings came in at $0.91 per share. However, analysts were expecting adjusted earnings of $0.91 per share on revenue of $1.33 billion. El Paso Electric Co EE reported upbeat second-quarter earnings and narrowed its full-year net profit forecast. El Paso Electric reported its quarterly net income at $33.0 million, or $0.78 per share, versus analysts' estimates of $0.63 per share. El Paso Electric now expects full-year net profit of $2.20 to $2.50 per share, versus its earlier forecast of $2.10 to $2.50 per share. Analysts were expecting earnings of $2.25 per share. TRW Automotive Holdings Corp TRW reported a 29% surge in its second-quarter earnings and raised its full-year sales forecast. TRW reported its quarterly profit at $293 million, or $2.21 per share, up from $227 million, or $1.78 per share, in the year-ago period. Excluding one-time items, TRW's earnings came in at $1.99 per share. However, analysts were expecting earnings of $1.71 per share. Its sales rose 16% to $4.23 billion, versus analysts' estimates of $4.04 billion. TRW raised its full-year sales forecast to between $16.2 billion and $16.4 billion, up from its earlier forecast of $15.7 billion to $16 billion. TRW projects Q3 sales of $3.9 billion, versus analysts' estimates of $3.83 billion. PolyOne Corp POL reported a 41% decline in its second-quarter profit. PolyOne reported its quarterly net income at $28.5 million, or $0.30 per share, down from $48.1 million, or $0.50 per share, in the year-ago period. Excluding one-time items, PolyOne's earnings came in at $0.31 per share. Its revenue climbed 11% to $768.8 million. Analysts were expecting revenue of $778.1 million. KKR & Co KKR reported a 25% drop in its Q2 profit on Wednesday. KKR's profit, excluding some costs, declined to $245.3 million, or $0.36 per share, from $328.1 million, or $0.48 per share, in the year-ago period. However, analysts were expecting a profit of $0.41 per share. Devon Energy Corp DVN reported a strong rise in its second-quarter profit. Devon Energy reported its quarterly profit at $2.74 billion, or $6.48 per share, up from $706 million, or $1.58 per share, in the year-ago period. Excluding one-time items, Devon's earnings came in at $1.71 per share. The recent quarter results included a $2.5 billion gain from the sale of its Brazilian assets. Its revenue surged 44% to $3.22 billion. However, analysts were expecting earnings of $1.54 per share on revenue of $2.38 billion. Standard Chartered PLC SCBFF reported a 20% rise in its first-half net profit. Standard Chartered's net profit surged to US$2.52 billion, from $2.10 billion, in the year-ago period. Analysts were expecting a profit of US$2.42 billion. Its revenue climbed to US$8.76 billion from $7.92 billion. Standard Chartered's consumer banking revenue increased 15%, while wholesale banking revenue gained 9%. Yamaha Motor Co YAMHY reported a 5% decline in its net profit for the April-June quarter. Yamaha Motor reported a quarterly net profit at Y15.5 billion, down from Y16.3 billion, in the year-ago quarter. Its sales dropped 6% y/y to Y344.5 billion from Y366.3 billion. For the full year, Yamaha Motor lifted its net profit forecast to Y35 billion, up from its earlier estimate of Y20 billion. Societe Generale SA SCGLY reported a 31% decline in its second-quarter net profit. Societe Generale's quarterly net profit dropped to 747 million euros ($1.06 billion). Analysts were expecting a net profit of 993 million euros. The group's net banking income climbed 1% to 6.49 billion euros. Taylor Wimpey PLC TWODF swung to a first-half pretax profit. Taylor Wimpey posted a pretax profit at GBP28.9 million, versus a loss of GBP2.3 million, in the year-ago period. Legal & General Group PLC LGGNY reported a 3.5% decline in its operating profit for the six months ended June 30. Legal & General's operating profit on an IFRS basis dropped to GBP523 million, from GBP542 million, in the year-ago period. Analysts were expecting an operating profit of GBP508 million. Legal & General generated net cash of GBP427 million, versus GBP373 million, in the year-ago period.