This Week's Tech Earnings Rundown
Oct 27th 2013 10:00AM
Updated Oct 27th 2013 10:02AM
Several technology companies released results this week. Akamai, Microsoft, and Fusion-io were three that stood out.
Akamai got crushed after reporting earnings. However, it was due to guidance. The current quarter wasn't that bad. Akamai reported revenue up 15% year over year to $396 million and beat consensus with EPS of $0.50. However, the company sounded a cautious note with guidance by issuing a number below consensus estimates. Of particular note was that the company was in negotiations with its largest customer-widely thought to be Netflix or Apple.
Microsoft , surprised investors and shares jumped after their results. Mr. Softy posted a healthy beat of $0.08 ($0.62 vs. estimates of $0.54) on better than expected revenue of $18.53 billion. Of particular note was the devices and consumer hardware segment that includes the revenue from Microsoft's Surface tablet.
Finally, Fusion-io shares were decimated after earnings. The flash specialist also had problems with guidance. Also, there are a few high-level executives departing. Why has the story gotten so dark for this company since its IPO?
Also, Apple is on deck. What can we expect from Apple's earnings?
In this segment of Tech Teardown, Erin Kennedy discusses earnings with Jamal Carnette and Evan Niu, CFA.
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The article This Week's Tech Earnings Rundown originally appeared on Fool.com.Erin Kennedy owns shares of Apple. Evan Niu, CFA, owns shares of Apple. Jamal Carnette owns shares of Apple. The Motley Fool recommends Apple and Netflix. The Motley Fool owns shares of Apple, Microsoft, and Netflix. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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