US EARNINGS WRAP: EBay Profit Drops; Steel Dynamics In Red

   DOW JONES NEWSWIRES 
 

Below is a synopsis of major second-quarter releases from Wednesday afternoon:

EBay Profit Sags On Stronger Dollar But Tops Estimates

EBay Inc.'s (EBAY) earnings fell 29% as the stronger dollar and weakness in the core marketplace segment more than offset growth at PayPal and Skype. However, the results topped Wall Street expectations, and the company also predicted third-quarter revenue above analysts' views. The stock rose 4.4% after-hours to $20.30.

Lower Production, Sales Hurt Qualcomm Net

Qualcomm Inc.'s (QCOM) profit dropped 1.5% on slightly lower sales as phone makers ratchet back production. Its shares fell 4.6% after-hours to $46.26 as earnings fell short of the company's upbeat forecast.

Steel Dynamics Swings To Loss On Lower Volumes, Prices

Steel Dynamics Inc. (STLD) swung to a loss - its third in a row - on lower sales volumes and lower prices for steel and recycled metals. Shares climbed 3.7% to $16.95 in after-hours trading as the steelmaker's results topped its guidance and Wall Street's expectations. Chief Executive Keith Busse said the company saw a slight improvement in business conditions in the period

ADS Weighed Down By Currency Charges, Miss Street View

Alliance Data Systems Corp.'s (ADS) profit fell 37% on charges as the loyalty-program and private-label card operator was hurt by currency changes and higher loss rates. The results were worse than expected. However, the company said it expects the now-concluded first half of the year to be the most challenging.

VMware Profit Slumps On Margins; Shares Up As Results Beat

VMware Inc.'s (VMW) profit dropped 38% as margins slumped and a decline in software license deals offset improved services revenue. Following the results, which topped Wall Street's expectations, shares were up 8.4% to $33.75 in after-hours trading.

Citrix Net Rises Despite Flat Revenue, Says Visibility Is Low

Citrix Systems Inc.'s (CTXS) profit grew 23% as operating margins jumped, offsetting flat revenue. It was the third-consecutive quarter where revenue from license updates helped offset a decline in the product license segment. The virtualization and infrastructure software company said lower information technology spending has hurt visibility into the timing of revenue. Citrix's shares fell 1.6% to $34.15 in after-hours trading.

SanDisk Post Surprise Profit On Pricing, Restructuring

SanDisk Corp. (SNDK) swung to a surprise profit - after four-consecutive quarterly losses - as better pricing and restructuring efforts bolstered results. Shares rose 2.1% to $19.39 in after-hours trading as the flash-memory product maker's results topped Wall Street's expectations.

Falling Prices, Foreign-Currency Losses Sting Mosaic

Mosaic Co.'s (MOS) profit slumped 83% as margins sank amid falling fertilizer prices along with foreign currency losses, but earnings were better than expected. Shares were up 0.7% after-hours at $48.75.

Raymond James Sees Sequential Improvement But Shares Sink

Raymond James Financial Inc.'s (RJF) earnings dropped a less-than-expected 39% as the regional brokerage continued to suffer from the economic downturn, though results sharply improved sequentially. Chairman and Chief Executive Thomas A. James said the stock-market rally wasn't enough to replicate the prior year's record results. Shares were down 1.4% at $18.19 in after-hours trading.

Equifax Profit Down On Lower International Sales; Shares Fall

Equifax Inc.'s (EFX) profit dropped 16% on lower international sales and some weakness in U.S. operations. Shares fell 3% to $25.99 in after-hours trading as revenue fell short of the company's guidance and the company projected third-quarter earnings below Street estimates.

C.R. Bard Gets Boost From Higher Margins But Revenue Misses

C.R. Bard Inc.'s (BCR) profit jumped 44% on higher margins and prior-year charges as the medical device maker also saw slight sales gains. Shares fell 1.4% after-hours, to $71.83, as revenue fell short of analysts' expectations.

Intuitive Surgical Net Jumps On Deferred Revenue; Shares Up

Intuitive Surgical Inc. (ISRG) posted a 22% rise in earnings, boosted by deferred revenue from the first quarter, as earnings excluding that gain easily topped expectations amid strong procedure growth and sales of its surgical robots. Shares jumped 12%, to $190.40 in after-hours trading, as sales also blew past expectations.

Noble's Contract-Drilling Revenue Offsets Lower Margins, Charge

Noble Corp.'s (NE) profit improved 4.3% due to higher contract-drilling services revenue, which offset lower margins and a charge. The offshore-drilling contractor has reported steady profit growth, despite volatility in energy prices and plunging demand. Chief Executive David W. Williams said Noble doesn't expect the near-term contracting environment to change significantly despite the gradual recovery in crude prices. Shares were up 1% to $32.25 in after-hours trading.