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News

Earnings: Amgen, Inc., United States Steel Corporation, Western Digital, More (AMGN, X, WDC, More)

Mike Deane Jan 27, 2015


After the bell on Tuesday, a number of big name, dividend paying companies announced their quarterly earnings. Below, we look at these earnings reports and break down the important points for investors.


Amgen Beats Q4 Estimates


Amgen (AMGN ) reported fourth quarter revenues of $5.3 billion, which are up 6% from last year’s Q4 revenues of $5.01 billion. Adjusted net income came in at $1.67 billion, or $2.16 per share, compared to last year’s Q4 figures of $1.39 billion, or $1.82 per share. AMGN’s results beat analysts’ estimates of $2.05 EPS on revenues of $5.2 billion. For FY2015, AMGN reaffirmed guidance of revenue in the range of $20.8 billion to $21.3 billion and EPS in the range of $9.05 to $9.20.


International Game Technology Posts Lower Q1 Figures


International Game Technology (IGT ) reported first quarter revenues of $450.6 million, which are down 17% from last year’s Q1 revenues of $541.2 million. Net income for the quarter was also down, coming in at $35 million, or 14 cents per share, compared to last year’s Q1 figures of $79.2 million, or 31 cents per share. On an adjusted basis, EPS came in at 19 cents, which is 24% lower than last year’s Q1 adjusted EPS of 25 cents. IGT missed analysts’ estimates of 25 cents EPS on revenues of $487.61 million.


U.S. Steel Crushes Q4 Estimates


U.S. Steel (X ) reported fourth quarter sales of $4.07 billion, which is down from last year’s Q4 sales of $4.27 billion. For the quarter, U.S. Steel reported net income of $275 million, or $1.83 per diluted share, compared to last year’s Q4 figures of $297 million, or $1.93 per share. Analysts expected X to report EPS of 87 cents on revenues of $3.96 billion. Looking ahead, U.S. Steel sees adjusted income from continuing operations for FY2015 to be between $550 million and $850 million.


Western Digital Beats Q2 Expectations


Western Digital (WDC ) reported second quarter revenues of $3.89 billion, which are down from last year’s Q2 revenues of $3.97 billion. Analysts were expecting revenues of $3.83 billion. Net income for the quarter came in at higher at $460 million, or $1.97 per diluted share, compared to last year’s Q2 figures of $430 million, or $1.77 per diluted share. On an adjusted basis, WDC reported EPS of $2.26, easily beating analysts’ expectations of $2.10.

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