Tech Earnings Barrage Summary

Tyler Durden's picture




 

GOOG, first on deck, swing, and a miss - Source

  • GOOGLE 4Q ADJ. EPS $9.50, EST. $10.50
  • GOOGLE 4Q REVENUE $10.58 BILLION, EST. $8.41
  • GOOGLE 4Q COST-PER-CLICK DOWN ABOUT 8%
  • GOOGLE 4Q PAID CLICKS UP ABOUT 34%
  • GOOGLE 4Q TAC $2.45 BILLION
  • GOOGLE 4Q CASH HOLDINGS $44.6 BILLION
  • GOOGLE OWNED WEB SITES GENERATED $7.29 BILLION IN REVENUE

Beat on top line, miss on EPS - Margin Compression?

Next: MSFT - Source

  • MICROSOFT 2Q REV. $20.89B, EST. $20.92B
  • MICROSOFT 2Q EPS. $0.78, EST. $0.76
  • MICROSOFT CORP BING U.S. MARKET SHARE, AT 15.1% UP 300 BPS Y/Y
  • More layoffs: Microsoft is revising operating expense guidance downward to $28.5 billion to $28.9 billion for the full year ending June 30, 2012.

Beat on bottom, miss on top

Next: IBM - Source

  • IBM 4Q REV. $29.49B, EST. $29.71B
  • IBM 4Q OPER EPS: $4.71, EST. 4.62
  • Full year 2012 Expectations: GAAP EPS of at least $14.16 and operating (non-GAAP) EPS of at least $14.85

Beat on bottom, miss on top

Next: INTC - Source

  • INTEL 4Q REV. $13.89B, EST. $13.72B
  • INTEL 4Q EPS 64C, EST. 61C
  • INTEL SEES 1Q REV. $12.8B +/- $500M, EST. $12.76B
  • INTEL SEES Q1 GROSS MARGIN AT 63%

Beat on top and bottom.

GOOG -9% after hours...

and in context...back to 11/25 lows

 

and IBM +2% after-hours

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Thu, 01/19/2012 - 17:07 | 2079228 hedgeless_horseman
hedgeless_horseman's picture

 

 

CNBC providing covering fire as ordered, sir.

The Federal Reserve is likely to step in with $1 trillion worth of easing that could be announced as soon as this month, according to a growing consensus of economists who see the recent uptick in economic growth as unsustainable.

  

The goal of the purchases will be to drive down interest rates even further from current record-low levels

 

Of course, the announcement also could push stock prices higher, as did the Fed's last balance sheet expansion begun in November 2010.

http://www.cnbc.com/id/46058897

Thu, 01/19/2012 - 17:07 | 2079237 I think I need ...
I think I need to buy a gun's picture

speaking of tech stocks i'm VERY interested in them, things like past money makers like Sun Microsystems which are buy and holds for life, I'm also interested in Vegas residential real estate in the desert and most of all 30 year government bonds,,,,,,,,

Thu, 01/19/2012 - 17:15 | 2079266 pragmatic hobo
pragmatic hobo's picture

reminds me ... did ever get around to issuing 100 year bonds?

Thu, 01/19/2012 - 18:01 | 2079415 hedgeless_horseman
hedgeless_horseman's picture

 

 

I'm also interested in Vegas residential real estate in the desert and most of all 30 year government bonds,,,,,,,,

,,,,,,,and don't forget, it's a great day to buy or lease a GM.

Fri, 01/20/2012 - 00:13 | 2080294 blunderdog
blunderdog's picture

(to break from the motif...)

There's never been a better time to retire!

Thu, 01/19/2012 - 17:22 | 2079296 Karl von Bahnhof
Karl von Bahnhof's picture

Et tu Google?

Little pullback, bitchez.

Thu, 01/19/2012 - 18:32 | 2079505 Blano
Blano's picture

Contact Million Dollar Bonus for those opportunities of a lifetime.

Thu, 01/19/2012 - 18:50 | 2079578 LiquidityandLunacy
LiquidityandLunacy's picture

Im interested in vegas real estate at the right price.

 

Why wouldnt you want to have a little summer home there for like 20 grand of fiat?

Thu, 01/19/2012 - 17:08 | 2079244 Bumblebee Tuna
Bumblebee Tuna's picture

Is this CNBS trying to suck more retail money into this fantasy market?  S&P 500 approaching multi-year highs... Oil above $100, and we need easing?  LMAO!

Thu, 01/19/2012 - 17:17 | 2079254 hedgeless_horseman
hedgeless_horseman's picture

 

 

...and we need easing?

"To drive down interest rates" [from 1.9% on the 10yr]

Treasury 10-year yields fell for a third day before reports forecast to show U.S. inflation is in check as the economy expands.

 

 

Thu, 01/19/2012 - 17:31 | 2079328 Caviar Emptor
Caviar Emptor's picture

Treasury today sold TIPS at negative rate 

Thu, 01/19/2012 - 17:14 | 2079263 CClarity
CClarity's picture

In a word . . . YES.

CNBC touting the "beats" vs the "misses".  Typical.  "Intel up nicely (2%)"  No mention of Google down 8.25%.  More horseshit!

Uh-oh.  That guy just said he'd sell into strength and thinks this is a headfake.

Thu, 01/19/2012 - 17:53 | 2079390 SheepDog-One
SheepDog-One's picture

LOL Hedgeless...I mean WTF!! 'Yea sure, we're fully recovered and no economic problems at all, BUT, we're not SURE if that can be sustained so we got to keep printing and pumping the bullshit.'

Time for more QE carrots and sticks! We've left full retard long ago and plunged into Fucktardville.

Thu, 01/19/2012 - 17:07 | 2079235 digitlman
digitlman's picture

There will not be any QE3.

 

 

Thu, 01/19/2012 - 17:12 | 2079255 GeneMarchbanks
GeneMarchbanks's picture

As long as merely talking about it accomplishes what it in itself is supposed to accomplish, you will be correct.

Thu, 01/19/2012 - 17:36 | 2079342 Sudden Debt
Sudden Debt's picture

It's like when you pick up a girl in a dancing and when she starts to talk dirty in your ear.
A real turn on that give you a bonner. The can do it all night. And when you take her home, you where horny like all evening that it only takes you 5 seconds to finish it.
The talk in the dancing ws more fun than the deed.

Thu, 01/19/2012 - 17:58 | 2079394 SheepDog-One
Thu, 01/19/2012 - 17:58 | 2079406 EvlTheCat
EvlTheCat's picture

Would it not be more apropos, in this "market", to say that the boner producing lady turned out to be a dude?  .....And the ensuing circle jerk still only took you 5 seconds.

Thu, 01/19/2012 - 18:34 | 2079513 Blano
Blano's picture

I thought bonner was one of Santa's reindeer.   

Thu, 01/19/2012 - 17:16 | 2079272 pragmatic hobo
pragmatic hobo's picture

deep down you know there will be ... not only qe3 but qe4 as well.

Thu, 01/19/2012 - 17:25 | 2079305 SheepDog-One
SheepDog-One's picture

And then?

Thu, 01/19/2012 - 17:37 | 2079346 King_of_simpletons
King_of_simpletons's picture

Prop up the stock market and pretty soon sheep will forget what QE stands for and will cheer more QEs by awarding Bernanke the title "Maestro of the 21st Century". Wall Street bonuses will be in Trillions of dollars and future QEs will be get multiplied by a factor of 10. Wallets will get bigger. A standard size briefcase will be called a Wallet and a Volkswagen Beatle will be called a Handbag. A big mac will cost $ 999.99.

Thu, 01/19/2012 - 17:54 | 2079396 xela2200
xela2200's picture

Don't forget real estate. Inflate all those underwater mortgages and make the sheep feel better.

Thu, 01/19/2012 - 23:09 | 2080195 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

There is a certain point where debt saturation will occur. Everyone will be knee deep in debt. Zero percent interest, it won't matter. The end game is coming, Bennie better accept that.

Thu, 01/19/2012 - 17:18 | 2079277 tekhneek
tekhneek's picture

You're right, because they never fucking stopped in the first place. Just because he's not holding press conferences announcing the rape and pillage of the dollar doesn't mean he's not... raping and pillaging the dollar.

Thu, 01/19/2012 - 17:24 | 2079299 Bumblebee Tuna
Bumblebee Tuna's picture

The M2 chart looks like Bernank has been feeding the printing presses Viagra.  Unofficially, we're probably at about QE7 right now, with the M2 pump, foreign bailouts, Euro swap lines, MF Global fallout stick save...

http://www.economagic.com/em-cgi/charter.exe/fedstl/m2sl

 

Thu, 01/19/2012 - 17:28 | 2079318 Comay Mierda
Comay Mierda's picture

hence the epic rally in SPX.  and it may continue. ZH should put out a chart of SPX priced in gold every week.  That way we can see the TRUE valuation

Thu, 01/19/2012 - 17:31 | 2079329 SheepDog-One
SheepDog-One's picture

QE7 already done and digested minimum....and every day the beast gets larger and hungrier for more.

Thu, 01/19/2012 - 17:34 | 2079337 Caviar Emptor
Caviar Emptor's picture

This week China infused liquidity into interbank system, IMF requested $500 billion (hints at $1 trillion), ECB LTRO continues as balance sheet explodes and new talk of capping yield spreads, US breaches debt ceiling and announces 1 million mortgage principle write downs (more printing required)

Thu, 01/19/2012 - 20:31 | 2079838 Everybodys All ...
Everybodys All American's picture

Truer words have never been spoken. The news is slowly getting out though. I think the interest rate swaps and the derivative markets on Treasuries will someday be the story that finally breaks this madness once the people begin to understand the charade.

Thu, 01/19/2012 - 17:44 | 2079365 catacl1sm
catacl1sm's picture

There already is.... FX SWAP

Thu, 01/19/2012 - 19:57 | 2079741 LongBallsShortBrains
LongBallsShortBrains's picture

There will not be any End to QE3.

 

 

Thu, 01/19/2012 - 17:07 | 2079236 knight99
knight99's picture

There will no qe with oil 100+ and market 5% from recovery highs. Google miss priced into the market just like every fking thing else.... until it isnt then we will see.

Thu, 01/19/2012 - 17:08 | 2079239 apu123
apu123's picture

Why worry about such mundane things like earnings and margin when Uncle Ben is going to have an LSAPathon?

Thu, 01/19/2012 - 17:08 | 2079241 SmoothCoolSmoke
SmoothCoolSmoke's picture

HOPIUM........ for the Bears!

Yessssssssssssssss.

Thu, 01/19/2012 - 17:11 | 2079253 Bumblebee Tuna
Bumblebee Tuna's picture

When a bearish site like Zero Hedge starts getting overrun with bullish comments, then the top must be close.

Thu, 01/19/2012 - 17:26 | 2079310 Comay Mierda
Comay Mierda's picture

the market just realized that Federal Reserve Notes = Funny Money so the top just might be infiniti.  But priced in gold it will prob crash pretty hard.  The Bernank is firing up his helicopter.

Thu, 01/19/2012 - 17:26 | 2079314 A Lunatic
A Lunatic's picture

Top Ramen

Thu, 01/19/2012 - 17:08 | 2079243 whatsinaname
whatsinaname's picture

How do they manage to keep upping their revenue quarter after quarter ? Is it youtube that is accruing or just their search clicks ? Obviously those clicks not generating much profit now..

Thu, 01/19/2012 - 17:32 | 2079333 SheepDog-One
SheepDog-One's picture

Youtube sucks ass these days, no one there anymore.

Thu, 01/19/2012 - 17:10 | 2079248 Sudden Debt
Sudden Debt's picture

Most companies start to realize that google ads is a scam. I'm in marketing and i don't want to use it. To expensive for what it is. It's for the lazy marketeers who have no clue and a to big budget. And in a crisis....

Thu, 01/19/2012 - 17:13 | 2079259 Roland99
Roland99's picture

AdBlock Plus FTW!

 

Thu, 01/19/2012 - 17:16 | 2079270 junkyardjack
junkyardjack's picture

I yearn for the day Adblock figures out how to block the ads in videos too

Thu, 01/19/2012 - 17:22 | 2079293 Sudden Debt
Sudden Debt's picture

Actually, here it's called Imovie (not mac related) and your program starts 10 minutes later and skips all the commercials.
Not exactly worth the money... I like TV adds :)

Thu, 01/19/2012 - 17:28 | 2079321 Karl von Bahnhof
Karl von Bahnhof's picture

Little off-topic, but isnt there in Brussels main square a little nice beer pub called SUDDEN DEATH ?

Thu, 01/19/2012 - 17:45 | 2079368 I am a Man I am...
I am a Man I am Forty's picture

remember the good ol' days when there wasn't an advertisement at the beginning of every video?  like 2 years ago, (in edith's voice singing) those were the daaaaays

Thu, 01/19/2012 - 17:33 | 2079334 iLoveMisesToPieces
iLoveMisesToPieces's picture

I could not agree more.  I'm as experienced as one can be with Adwords and think it is a complete and total money black hole for most.  Everyone plays follow the competition and bids up the price to the point of destroying margins.  If you don't have a highly targeted and optimized campaign and at the same time, can very directly calculate the value of a click (e.g an e-commerce type site) you're in for a raping.

Thu, 01/19/2012 - 17:47 | 2079373 catacl1sm
catacl1sm's picture

Yup. However, if you know how it works, have a good sales funnel and all, you can be the one doing the raping.

Thu, 01/19/2012 - 21:05 | 2079934 The Swedish Chef
The Swedish Chef's picture

It´s not the first time I hear similar opinions about Google Ads. Wonder why not more people catches on...

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