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AT&T's Q1 solid with help from DirecTV

AT&T delivered stronger than expected first quarter earnings as revenue jumped 24 percent due to the acquisition of DirecTV.

The company reported first quarter net income of $3.8 billion, or 61 cents a share, on revenue of $40.5 billion, up 24 percent from a year ago. Non-GAAP earnings for the first quarter were 72 cents a share. The non-GAAP figure excludes integration and merger costs.

Wall Street was looking for earnings of 69 cents a share on revenue of $40.47 billion.

The company added 2.3 million net wireless subscribers and that sum includes connected devices, U.S. and Mexico and Cricket additions.

Churn for the first quarter was 1.42 percent.

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Among other tech earnings of note:

  • eBay outlined first quarter earnings of $482 million, or 41 cents a share, on revenue $2.1 billion, up 4 percent from a year ago. Non-GAAP earnings were 47 cents a share. Wall Street was looking for 44 cents a share on revenue of $2.08 billion. As for the outlook, eBay projected second quarter revenue of $2.14 billion and $2.19 and non-GAAP earnings of 40 cents a share to 42 cents a share. For the year, the company expects revenue between $8.6 billion and $8.8 billion.
  • Akamai reported first quarter earnings of 42 cents a share on revenue of $568 million, up 8 percent from a year ago. Performance and security revenue was strong at $316 million, up 16 percent from a year ago. Akamai’s quarters ahead will be driven by the Brazil Olympics and the media streaming that goes with it. Akamai’s non-GAAP earnings for the first quarter were 66 cents a share. Wall Street was looking for first quarter earnings of 63 cents a share on revenue of $563.8 million.
  • Marketo reported a first quarter net loss of $18.4 million, or 42 cents a share, on revenue of $62.2 million, up 35 percent from a year ago. Non-GAAP loss was 17 cents a share, which was in-line estimates. As for the outlook, Marketo said second quarter revenue will be $65 million to $66 million with a non-GAAP loss of 12 cents a share to 14 cents a share. For 2016, Marketo projected revenue of $269 million to $275 million with a non-GAAP net loss of 46 cents a share to 50 cents a share.

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