This morning, ING Inc (VOYA) reported operating EPS from the ongoing business of $0.75, better than our $0.71 estimate and the consensus of $0.69. After stripping out DAC unlocks and better NII from some Lehman recoveries, we believe the company defines core of $0.68, in line with our expectation for core earnings for the quarter….
InterActiveCorp is set to report 3Q13 results today after the close. While we believe it is generally understood that 3Q is expected to be a trough for the affiliate search market, reflecting the timing of implementation of certain Google policy changes, soft CPC results and limited Network revenue growth could indicate incremental pressure on IAC’s…
HDFC Bank’s first-half 2014 earnings were up 29% on the prior comparable period, with pretax, pre-provision earnings up 27%. These results exceeded expectations, with growth in provisions and operating expenses (up 4% and 17%, respectively) significantly trailing the 22% growth in net revenues. However, this divergence between income and cost growth is not unusual given…
ResMed delivered another impressive performance in the third quarter of fiscal 2013. Revenue rose 10% to USD 384 million, operating income increased 26% to USD 96.1 million and net income was 31% higher at USD 84.9 million. Diluted earnings per share rose 32% to USD 0.58 and over the nine months to 31 March 2013…
PNC Financial Services Group reported net income of $1.1 billion, or $1.99 per diluted share, for second quarter 2013 compared with $1.0 billion or $1.76 per diluted share for first quarter 2013. There were some one-time items, including securities gains ($61 million), gains on sale of Visa V stock ($83 million), and lower loss provision…
Boart Longyear announced a disappointing first-half 2013 result, incurring an operating net loss after tax, or NPAT of USD 60 million, after reporting a profit of USD 98 million in first-half 2012. In addition, Boart incurred USD 269 million of post tax, mainly non-cash restructuring charges and asset impairments. The result reflected a weak operating…
