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.
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.