Several companies declared their quarterly earnings before the opening bell, while many companies are scheduled to report their financial results after the market closes today. Some notable earners are discussed here.
Pfizer Inc. (NYSE: PFE), the world's largest research-based pharmaceutical company, announced its fiscal 2011 second quarter earnings today. It reported 5 percent increase in its Q2 net income to $2.6 billion, or 33 cents per share, from $2.45 billion, or 31 cents per share a year earlier. During the quarter, the company's total revenues fell 1 percent to $16.8 billion due to weak pharmaceutical sales resulting from several of its best-selling drugs facing generic competition. Analysts had forecasted a net profit of 59 cents per share for the company. Shares were down 2.18 percent or 42 cents to trade at $18.60.
Cognizant Technology Solutions Corp. (Nasdaq: CTSH), a leading provider of information technology, consulting and business process outsourcing services, reported its fiscal 2011 second quarter financial results today. It reported 21 percent increase in its Q2 net profit to $208 million, or 67 cents per share, from $172.2 million, or 56 cents per share a year earlier. During the period, the company's revenue rose 34 percent to $1.49 billion from $1.11 billion a year ago. Analysts had estimated a profit of 66 cents per share for the company. Shares added 4.49 percent or $3.12 to trade at $73.87.
MetroPCS Communications, Inc. (NYSE: PCS), an American mobile phone service provider, reported its fiscal 2011 second quarter earnings before the opening bell. It registered an increase in its Q2 net income to $84.3 million, or 23 cents per share, from $79.9 million, or 22 cents per share a year earlier. During the quarter, the company's revenue rose 19 percent to $1.21 billion from $1.01 billion a year earlier. Analysts had estimated earnings of 28 cents per share on revenue of $1.22 billion for the company. Shares slumped 32.57 percent or $5.19 to trade at $11.03.
Sirius XM Radio Inc. (Nasdaq: SIRI), an American broadcasting company that provides two satellite radio services, announced an increase in its fiscal 2011 second quarter earnings today. It registered net income of $173.3 million, or 3 cents per share, from $15.3 million, or breakeven per share, in the same period a year earlier. During the quarter, the company's revenue rose 6 percent to $744.4 million from $699.8 million.