Internet giant Google (NASDAQ: GOOG) gained +23% net revenue for Q1 while the income from the acquired Motorola Mobility division grew by $460 million. The company could possibly open retails stores by the end of 2013 to expand its consumer electronics division.
McDonald’s Corporation (NYSE: MCD) earnings showed a low growth of only +0.3%, below analyst estimates. The company cited weak economic conditions for its overall -1% drop in global comparable sales. The decline in customers dining out and increased competition from brands like Wendy’s Co (NASDAQ: WEN) and Burger King Worldwide Inc. (NYSE: BKW) chipped away MCD’s value-based strategies to keep customers flocking.
International Business Machines Corp. (NYSE: IBM) witnessed $1.26 billion drop in revenue, -5.5% below analyst estimates. Revenue from hardware sales dropped 17% overall while the slow software sales and low numbers of completed transactions brought down estimates for Q1.
—
Raza Khan
KOTM Contributor
Raza@KeeneOnTheMarket.com