NCR Corp. Earnings: Net Income Climbs, Yet Short of Estimate
NCR Corporation (NYSE:NCR) reported its results for the second quarter. NCR is a global technology company that provides solutions for industries including financial services, retail and hospitality, travel and gaming, healthcare and public sector, entertainment and software and technology services.
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NCR Corporation Earnings Cheat Sheet
Results: Net income for NCR Corporation rose to $80 million (49 cents per share) vs. $33 million (21 cents per share) in the same quarter a year earlier. This is a more than twofold rise from the year-earlier quarter.
Actual vs. Wall St. Expectations: NCR Corporation fell short of the mean analyst estimate of 59 cents per share.
Quoting Management: “Solid financial results and strong order growth in the second quarter, led by our Financial Services and Hospitality businesses, leave us on firm ground to achieve our full year objectives,” said Bill Nuti, chairman and CEO of NCR. “U.S. regional banks continue to drive higher revenues as they embrace advanced customer service technologies and we are successfully capturing growth opportunities in key emerging markets as evidenced by order growth in Brazil during the second quarter. We have also continued to invest in innovation, most notably in our small and medium business offerings, with the recent introduction of NCR Silver. Our Hospitality vertical remains on track and we are actively strengthening our presence in key emerging markets such as Brazil. Looking ahead, we are focused on executing upon expanding global opportunities across our verticals while also further growing our software and services revenue and driving profitable growth.”
The company fell short of estimates last quarter after being in line with expectations the quarter before with net income of 47 cents.
Looking Forward: Over the past ninety days, the average estimate for the third quarter has fallen from 65 cents per share to 63 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. For the fiscal year, the average estimate has moved up from $2.46 a share to $2.47 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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