Earnings Roundup

Goldman Sachs Group Inc GS reported a drop in its first-quarter earnings. Goldman's quarterly earnings declined to $2.1 billion, or $3.92 per share, versus $2.74 billion, or $1.56 per share, in the year-ago period. Its net revenue dropped to $9.95 billion, from $11.89 billion. Analysts were expecting earnings of $3.52 per share on revenue of $9.34 billion. Goldman Sachs also announced its plans to lift its quarterly dividend to $0.46 per share from $0.35 per share. Coca-Cola Co KO reported a rise in its first-quarter profit. Coca-Cola's quarterly earnings climbed to $2.05 billion, or $0.89 per share, versus $1.90 billion, or $0.82 per share, in the year-ago period. Its revenue gained 6% to $11.14 billion. Analysts were expecting earnings of $0.87 per share on revenue of $10.82 billion. Its sales volume climbed 5%. Johnson & Johnson JNJ reported a 12% rise in its first-quarter earnings. For the year, Johnson & Johnson lifted its earnings forecast by $0.02 per share to $5.07 to $5.17 per share. J&J's quarterly profit surged to $3.9 billion, or $1.41 per share, from $3.5 billion, or $1.25 per share, in the year-ago epriod. Excluding special items, the company earned $1.37 per share. Its revenue dropped by $34,000 to $16.1 billion. Analysts were expecting earnings of $1.35 per share on revenue of $16.26 billion. Omnicom Group Inc OMC reported a better-than-expected Q1 profit. Omnicom's quarterly net income surged to $204.6 million, or $0.72 per share, versus $201.9 million, or $0.69 per share, in the year-earlier period. Its revenue climbed 5% to $3.31 billion. Analysts were expecting a profit of $0.69 per share on revenue of $3.29 billion. WW Grainger Inc GWW reported a better-than-expected first-quarter profit. Grainger's quarterly net income surged to $189.5 million, or $2.57 per share, versus a year-ago profit of $159.1 million, or $2.18 per share. Its revenue climbed 16% to $2.19 billion. Sales in the US jumped 10% to $1.70 billion. Analysts were expecting earnings of $2.52 per share on revenue of $2.19 billion. U.S. Bancorp USB posted a better-than-expected first-quarter profit. U.S. Bancorp's quarterly net income rose to $1.3 billion, or $0.67 per share, versus $1.05 billion, or $0.52 per share, in the year-ago period. However, analysts were expecting earnings of $0.64 per share. U.S. Bancorp's net interest income surged 8% to $2.7 billion. Its provision for loan losses declined 36% to $481 million. Forest Labs Inc FRX reported a decline in its fiscal fourth-quarter profit. Forest Labs' quarterly profit dropped to $192.7 million, or $0.72 per share, from $322.5 million, or $1.12 per share, in the year-ago period. Its revenue fell to $1.06 billion, from $1.14 billion. Analysts were expecting earnings of $0.70 per share on revenue of $1.02 billion. State Street Corp STT reported a 9% drop in its first-quarter net income. State Street's quarterly net income declined to $427 million, or $0.85 per share, from $471 million, or $0.93 per share, in the year-earlier period. However, analysts were expecting earnings of $0.86 per share. State Street's servicing fees fell 2% y/y to $1.08 billion. However, foreign exchange trading revenue dropped 7% y/y. Northern Trust Corp NTRS reported a 7% rise in its first-quarter income. Northern Trust's quarterly net income climbed to $161 million, or $0.66 per share, from $151 million, or $0.61 per share, in the year-ago period. Analysts were expecting earnings of $0.66 per share. Northern Trust's posted its quarterly revenue at $965.4 million, versus analysts' estimates of $974.00 million. TD Ameritrade Holding Corp AMTD reported a 20% drop in its fiscal second-quarter earnings. TD Ameritrade's quarterly profit dropped to $136.7 million, or $0.25 per share, from a year-ago profit of $171.7 million, or $0.30 per share. Its net revenue declined 6.3% to $673.1 million. However, analysts were expecting earnings of $0.25 per share on revenue of $672 million. Comerica Inc CMA reported a rise in its first-quarter profit. Comerica's quarterly profit surged to $129 million, or $0.66 per share, from $103 million, or $0.57 per share, in the year-ago period. However, analysts were expecting earnings of $0.55 per share. Saudi Basic Industries Corp (SABIC) reported a drop in its first-quarter earnings. SABIC's quarterly net profit dropped 5% to 7.27 billion riyals ($1.94 billion). However, analysts were expecting a profit of 6.74 billion riyals. McMoRan Exploration Co MMR posted narrower first-quarter loss. McMoRan posted a quarterly profit at $5.5 million, versus a year-ago loss of $15.8 million. On a per-share basis, including preferred dividend impacts, McMoRan posted a loss of $0.03 per share, versus a year-ago loss of $0.17 per share. McMoRan's revenue fell 19% to $110.6 million. Analysts were expecting a loss of $0.10 per share on revenue of $107 million.