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To get a measure of this earnings season, I've been keeping track of some of the tech bellwethers. There have been a few winners but, for the most part, the results aren't encouraging.

The following table is our tech scorecard for the week ending Jan 23, 2009. Three out of fourteen companies on our list of bellwethers have beat earnings expectations thus far in this earnings season.

CompanyEarnings ResultsComments
IBM (IBM)beat by $0.25good guidance
Apple (AAPL)beat by $0.32conservative guidance (as usual)
Intel (INTC)miss (rev -23%)conservative guidance
eBay (EBAY)profits down 31%weak guidance
Nokia (NOK)miss by $0.02weak guidance
Sony (SNE)miss, first annual loss in 14 yearsguidance revised downward
Microsoft (MSFT)missed by $0.02announced layoffs, not providing guidance
Google (GOOG)beats by $0.15AdSense (30% of revenue) flat, $1B charge to write down AOL and Clearwire. Search ads, aggregate clicks doing well. Somewhat conservative guidance offered.
MEMC (WFR)earnings down almost 80% from prior yearvery weak guidance
Taiwan Semiconductor (TSM)in line but down severely year-over-yearvery weak guidance
Samsungfirst ever quarterly lossrestructuring, expects loss next quarter
AMD (AMD)miss by $0.14weak guidance

It is true that earnings can be considered old news so I have provided a column that lists the outlook for each company based on management's forward guidance. It is rather distressing that guidance ranges from "conservative" to "very weak" with only IBM being fairly upbeat about the prospects for 2009.

We have only seen a couple of weeks of earnings so there is a possibility that others in the tech industry can do better. Still, given how many companies have announced layoffs and guided downward, I would not be too hopeful.

Disclosure: none

Source: Tech Bellwethers: Earnings Scorecard