SanDisk Corporation (NASDAQ:SNDK) shares soared over 5% in late session
on Thursday after the company posted its third quarter earnings, that easily
topped analysts estimates.
The company
said its net income soars 39% to $322.1 million, or $1.34 a share during the
latest quarter, from $231.3 million, or 99 cents a share. On an adjusted net
income came at $1.30 a share.
Revenue jumped
to $1.23 billion, up from $935.2 million.
Analysts were
looking the company to report $1.05 a share, on revenue of $1.23 billion.
Amazon.com, Inc. (NASDAQ:AMZN) fell over 3% to $159.97 after the
company predicted a lower than estimated gross margin for its fourth quarter.
The company
reported $231 million, or 51 cents a share of net income in its third quarter
on revenue of $7.56 billion, ahead of analysts estimates of 48 cents a share on
revenue of $7.37 billion.
The company projects
its revenue to be in range of $12 billion to $13.3 billion in the fourth
quarter, ahead of analysts’ estimates of $12.3 billion.
However, the
company expects to have 3% – 4.2% in gross margin, well below the analysts
target of 5%.
Baidu.com, Inc. (ADR) (NASDAQ:BIDU) jumped over 1% after the company the
China’s search giant reported better than estimated Q3 results.
The company
earned 46 cents a share on revenue of $337.2 million, ahead of analysts
estimates of 41 cents on revenue of $333.3 million.
The company
sees revenue of $354.2 million to $364.7 million in fourth quarter, ahead of
the Street at $348.5 million.
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