Internet companies first quarter results continue have generally bested
analysts expectations. Yesterday, Juniper Networks (JNPR)
reported income of $8.1 million, or $0.05 per share after the market
close. Analysts had expected the infrastructure play to earn only $0.03
per share. Revenues rose to $63.9 million in the quarter, a sequential
increase of 41% over $45.4 million, and representing year-over-year
revenue growth of 536%.
Ameritrade (AMTD)
was off 1-1/16 to 17-7/16 in Thursday’s trading despite reporting fiscal
second-quarter profits of $0.02 a share, much better than estimates of a
$0.04 loss. The company also added 319,000 accounts in the quarter, 47%
more than the previous quarter. Revenue amounted to $170.3 million,
signifying 30 percent sequential and 166 percent year-over-year revenue
growth.
Webvan Group (WBVN)
reported a net loss of $38.7 million, or 12 cents per share, beating
analyst estimates by a penny. The company’s top line increased 79%
(sequentially) to $16.3 million.
Wednesday, Ariba (ARBA),
Redback Networks (RBAK),
and E*Trade (EGRP)
all reported strong numbers as well.
Business-to-business e-commerce market maker Ariba delivered on its
promise — and then some — in its earnings call. Earlier, the company
announced that its earnings would be “significantly higher than analyst
expectations because of better-than-expected demand for its
business-to-business software and services.” The company predicted
revenues would fall in the range of $36-$38 million, which would have
represented a sequential increase of around 60 percent.
Instead, Ariba reported second quarter revenues of $40 million, a
sequential increase of 70 percent from last quarter’s $23.5 million.
The company lost $11.5 million, or $0.06 per share, versus the consensus
estimate, which called for a loss of $0.08 per share. Ariba CFO Edward
P. Kinsey noted the acceleration of Ariba’s network effect during the
quarter in a conference call. Indeed, sequential growth of 70 percent
is well above the company’s 40 percent average to date.
Merrill Lynch raised its rating on shares of Ariba from near-term
“accumulate” to a near-term “buy,” but the shares traded slightly lower
in late Wednesday trading despite the positive news. Ariba is now 61%
off of its 52-week high (183-5/16).
Redback Networks, a provider of high-speed access infrastructure
solutions, “beat the street” as well. The company announced earnings of
$5.6 million, or $0.05 per share, for its second straight profitable
quarter. The consensus estimate was $0.03 per share. Redback announced
revenues of $34.2 million for a sequential increase of 32%.
E*Trade’s net loss was $23.2, or $0.08 per share for its second fiscal
quarter half of what analysts had expected. In addition, E*Trade
added 603,000 new accounts in the quarter, up from last quarter’s
330,000 additional accounts. The online financial service provider had
revenues of $407.4 million, a year-over-year increase of 152%.
Check Point Software (CHKP)
reported net income of $34.9 million, or $0.40 per share, beating the
$0.35 per share consensus estimate. $79
million in revenue represents
81 percent year-over-year growth and 16 percent sequential growth.
Women.com (WOMN)
lost $7.6 million, or $0.16 per share in its first fiscal quarter.
Analysts expected the destination to lose $0.19 per share.
Year-over-year revenue growth was phenomenal, rising $11 million, or 325
percent, to $14.4 million.
Intraware (ITRA)
lost $11.2 million, or $0.45 per share, on sales of $36.1 million for
its first fiscal quarter. Analysts had expected ITRA to lose $0.47 per
share.
Accrue Software (ACRU)
announced earnings of $788,000, or $0.03 per share, on sales of $7.5
million. Analysts had expected ACRU to simply break even.