It's a big week for technology earnings, and the biggest name of all, Apple (AAPL), will report its earnings on Tuesday after the bell. Apple is expected to post a monster quarter, with nearly $40 billion in revenues and above $10 a share in earnings. However, the focus of this article will not be Apple. I am publishing a separate article devoted entirely to Apple's earnings, so be sure to look for that. In this article, I will focus on six separate technology companies. I will go into deeper focus on one name, and the five remaining names will be covered in basic detail.
Yahoo (YHOO) - Tuesday, after the bell: Yahoo will report its fiscal fourth quarter and 2011 full year earnings on Tuesday afternoon. It's already been a crazy few weeks for Yahoo, with rampant speculation about a possible takeover, and multiple changes at the executive level. Yahoo has already appointed Scott Thompson as its new CEO, and Co-Founder and former CEO Jerry Yang has left.
Yahoo is expected to post almost no changes when it reports its financial results this week. Current estimates call for quarterly revenues to decline by about one percent to $1.19 billion. Earnings per share are expected to be flat at 24 cents a share. Yahoo has met or exceeded earnings expectations in the last four quarters, beating in three of those quarters.
For the full year, revenues are estimated to decline by four percent to $4.4 billion. Earnings per share are projected to decline at twice that rate, falling from $0.90 in 2010 to just $0.81 in 2011. Current projections for 2012 have revenues rebounding by 3% to a little below those numbers we saw in 2010. Earnings per share are expected to rebound to 2010 levels, around $0.90 per share.
Yahoo investors had been waiting for a while to get a new CEO, and they've done that already this year. The company sits well behind its major peers in the search business, although the firm does have some valuable assets, which is why many expect the company to be bought out in the near term. However, a takeover at these levels would still be far below what the company could have accepted a number of years back, and that is why investors have been frustrated with this company for several years.
Western Digital (WDC) - Monday, after bell: Estimates for the storage device maker were well below current estimates months ago due to recent flooding in Asia, but the company has resumed operations and estimates have been jumping higher ever since. Revenues for the quarter are expected to fall by more than 25% to $1.84 billion, and earnings per share are expected to decline by a quarter to $0.71. However, just two months ago, analysts were expecting a huge loss, an estimates have come up about a dollar a month for the company. For the full year, the company is expected to post a 2.4% loss in revenues to 9.3%. Despite the loss in sales, earnings per share are actually expected to increase from $3.27 to $4.13. This is for the fiscal year, which ends in June. Sales are expected to rebound sharply in the following fiscal year, with earnings climbing nicely as well.
EMC (EMC) - Tuesday, before the bell: EMC will report its fiscal fourth quarter and full year results Tuesday morning. The company is expected to post a quarterly revenue increase of 12.3% to $5.5 billion. Earnings per share are projected to increase by a slightly smaller margin, 4 cents increase, to 46 cents per share. For the full year, revenues are expected to climb by 17% to just under $20 billion. Earnings per share are forecasted to increase from $1.26 to $1.49. Looking into 2012, revenues are expected to climb about 10%, with earnings per share rising in the low to single teens, percentage wise.
Corning (GLW) - Wednesday, before the bell: The diversified electronics and glass maker will report its fourth quarter and full year results in the middle of the week. Corning issued a profit warning in December, so estimates have come down. For the quarter, revenues are expected to rise by 4.4% to $1.84 billion. Earnings per share are expected to decline sharply though, from 46 cents in the year ago period to 33 cents in the most recent quarter. For the full year, revenues are expected to rise by over 18% to $7.85 billion. However, earnings per share are expected to decline from $2.07 to $1.78. Revenue growth is expected to slow down in 2012, and earnings are expected to decline further.
Juniper Networks (JNPR) - Thursday, after the bell: Juniper already warned that their quarter would not be as expected, so we will see how they do against lowered expectations towards the end of the week. Current expectations call for a 5% drop in revenues to $1.13 billion. Earnings per share are expected to decline from 39 cents in the year ago period to 28 cents in the most recent quarter. For the full year, revenues are projected to climb by 9% to $4.46 billion. Earnings per share are expected to decline by a dime to $1.19. Revenue growth is expected to slow a little in 2012, but earnings per share are expected to rebound.
Riverbed Technology (RVBD) - Thursday, after the bell: Riverbed will post its fourth quarter and full year results later in the week. For the quarter, the company is projected to show revenue growth of 21.3% to just over $200 million. Earnings per share are expected to increase by a nickel to $0.24. For the full year, revenues are expected to rise by 31.3% to approximately $725 million. Earnings per share are expected to increase from $0.59 to $0.89. Looking ahead to 2012, revenues are projected to rise by about 20%, with earnings per share rising a little bit more.