Intel Corporation (INTC$) and online auction retailer eBay Inc. (EBAY$) both announced second quarter earnings after the bell on July 17, and both companies came up slightly below where analysts expected them to -- and in both cases, the market was unimpressed, sending both stocks down after trading.
Intel has been hammered by the overall declining PC market. And while they look at getting into getting cable television onto the internet, they still are slowing. While the company almost exactly hit expectations, they weren'trosy to begin with.
The PC maker reported net income of $2 billion, or $0.39 per share, versus the $2.05 billion, or $0.40 per share, from the same period a year ago. Revenue for the quarter was $12.8 billion, as compared to $12.6 billion from the previous year. Analysts were expecting a profit of $0.40 per share on revenues of $12.9 billion.
Intel's stock was down .41 percent during the day and an additional 2.36 percent after trading to hit $23.58 a share.
EBay has struggled as of late as they face stiffer competition from Amazon (AMZN) . After the eranigns report, eBay chief executive John Donahoe hinted that "headwinds" might meet the company in the third and fourth quarters of the year, and investors did not take well to the words, as eBay is already falling behind their own aggressive projections for the year.
The e-commerce site reported net income of $640 million, or $0.49 per share, versus the $692 million, or $0.52 per share, from the same period a year ago. Revenue for the quarter was $3.9 billion, as compared to $3.4 billion from the previous year. Analysts were expecting a profit of $0.48 per share on revenues of $3.77 billion.
eBay's stock went on a more wild ride. While they were up exactly 1 percent on the day, their stock has plunged after hours: it's down 6.33 percent after hours to hit $53.75 a share.
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