Earnings Snapshot: Tech, Media, Fast Food, Tobacco, Telecom

Microsoft Corporation (NASDAQ:MSFT) reported its results for the third quarter. Net income for the computer software fell to $5.11 billion (60 cents per share) vs. $5.23 billion (61 cents per share) a year earlier. This is a decline of 2.4% from the year-earlier quarter. Revenue rose 6% to $17.41 billion from the year-earlier quarter. Microsoft Corporation beat the mean analyst estimate of 57 cents per share. Analysts were expecting revenue of $17.18 billion.

New York Times Co. (NYSE:NYT) reported net income above Wall Street’s expectations for the first quarter. Net income for New York Times Co. rose to $42.1 million (28 cents per share) vs. $5.4 million (4 cents per share) in the same quarter a year earlier. This marks a substantial increase from the year-earlier quarter. Revenue fell 0.3% to $499.4 million from the year-earlier quarter. New York Times Co. reported adjusted net income of 8 cents per share. By that measure, the company beat the mean estimate of 2 cents per share. Analysts were expecting revenue of $500.3 million.

Chipotle Mexican Grill Inc. (NYSE:CMG) reported higher profit for the first quarter as revenue showed growth. Net income for Chipotle Mexican Grill Inc. rose to $62.7 million ($1.97 per share) vs. $46.4 million ($1.46 per share) in the same quarter a year earlier. This marks a rise of 35.1% from the year-earlier quarter. Revenue rose 25.8% to $640.6 million from the year-earlier quarter. Chipotle Mexican Grill Inc. beat the mean analyst estimate of $1.93 per share. Analysts were expecting revenue of $630.6 million.

Philip Morris International Inc. (NYSE:PM) reported net income above Wall Street’s expectations for the first quarter. Net income for the tobacco rose to $2.16 billion ($1.25 per share) vs. $1.92 billion ($1.06 per share) in the same quarter a year earlier. This marks a rise of 12.6% from the year-earlier quarter. Revenue rose 9.7% to $7.45 billion from the year-earlier quarter. Philip Morris International Inc. beat the mean analyst estimate of $1.19 per share. It beat the average revenue estimate of $7.22 billion.

Verizon Communications (NYSE:VZ) reported its results for the first quarter. Net income for Verizon Communications rose to $3.91 billion (59 cents per share) vs. $3.26 billion (51 cents per share) in the same quarter a year earlier. This marks a rise of 19.7% from the year-earlier quarter. Revenue rose 4.6% to $28.24 billion from the year-earlier quarter. Verizon Communications beat the mean analyst estimate of 58 cents per share. Analysts were expecting revenue of $28.17 billion.