IBM's first quarter net income surged 26 percent, IBM's revenue from the US is roughly 35 percent of its total, which has positioned the company well in the current economic environment.
Infosys reported a 10 percent rise in profit and Satyam had an 18 percent rise in quarterly profit.
AMN Healthcare Services Inc., a San Diego health care staffing firm, reported first-quarter net income of $9.5 million on May 7, up 16 percent from the like quarter in 2007. Revenue for the first quarter was $283.9 million, 3 percent above the revenue reported in last year’s first quarter. The public company saw growth in all three of its business segments — nurse, physician and allied health staffing — as well as improved profit margins. AMN Healthcare reaffirmed its forecasted revenue growth this year at 7 percent to 12 percent above 2007 results, with earnings to increase at a faster rate.
EDS posted a 62 percent plunge in first quarter profits, but new contract signings in the same period rose to $5.6 billion, up 66 percent from the same time last year. The news pushed EDS shares up by 4.77 percent for the year to date.
Ford - The Board of Directors of Ford Motor Company today recommended that its stockholders take no action at this time in response to the announcement by Tracinda Corporation that it has commenced a tender offer to acquire up to 20 million shares of Ford’s common stock at a price of U.S. $8.50 per share. The company’s Board said it will review and consider Tracinda’s offer and will advise stockholders of the Board’s position regarding the offer by May 22, 2008, as required under applicable securities law.
CISCO Systems, which makes networking equipment, met its own lowered quarterly sales target on Tuesday while beating analysts’ earnings forecast by 2 cents a share.
Cisco, based in San Jose, Calif., said revenue increased 10 percent, to $9.8 billion, from $8.9 billion, for its fiscal third quarter, ended April 26. Analysts had forecast revenue of $9.75 billion. Cisco’s earnings rose to 38 cents a share, from 34 cents a share in the quarter a year earlier. The company’s profit in the third quarter declined to $1.8 billion, or 29 cents a share, from $1.9 billion, or 30 cents a share. The figures included a 4 cents-a-share charge related to an acquisition during the quarter.
There were fears that the difficult economic climate in the United States might have hurt Cisco’s earnings during the quarter.
AT&T Inc. (NYSE:T) reported strong first-quarter results. This marked AT&T's 12th consecutive quarter of double-digit growth in adjusted earnings per share. $0.57 reported earnings per diluted share, up 26.7 percent versus $0.45 in the year-earlier first quarter. $30.7 billion in consolidated revenues, up 6.1 percent versus reported results for the year-earlier first quarter. "We delivered an excellent first quarter and a solid start to the year," said Randall Stephenson, AT&T chairman and chief executive officer. "Revenue growth continues to ramp, we have good momentum across key growth areas, major cost initiatives are on track, and our operational results reinforce the confidence we have in our outlook.”
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