3D Systems and Time Warner released their latest earnings reports before opening bell this morning. 3D Systems posted non-GAAP earnings of 12 cents per share on $158.1 million in sales, representing a 7% year over year decline in revenue, against the consensus estimates of 6 cents per share in earnings and $161.01 million in sales.
Time Warner posted adjusted earnings of $1.29 per share on $7 billion in revenue, compared to the consensus estimates of $1.16 per share and $7.06 billion. In last year’s second quarter, the company reported $7.06 billion in revenue and $1.25 per share in adjusted earnings.
3D Systems posts a loss
3D Systems posted a GAAP loss of 4 cents per share. The company said lower demand for 3D printers and on-demand manufacturing more than offset gains from continuing strong demand for its healthcare solutions and software. Also materials orders from healthcare and industrial customers improved. The company’s gross margin increased to 50.9% as 3D Systems shifted from consumer products and toward higher margin healthcare solutions, software and materials.
Shares of 3D Systems edged lower by as much as 0.33% to $12.14 in premarket trading this morning.
Time Warner’s profits rise
Time Warner’s GAAP earnings rose to $1.20 per share from the year-ago quarter’s $1.16 per share.. The company said growth at Home Box Office and Turner partially offset declines at Warner Brothers. Turner revenues rose to $3 billion from $2.8 billion, while Home Box Office revenues edged higher to $1.47 billion from $1.4 billion. Warner Bros. revenue declined to $2.7 billion from $3.3 billion, while Intersegment eliminations amounted to -$183 million, an improvement from the year-ago quarter’s -$215 million.
Time Warner raised its full-year earnings guide to between $5.35 and $5.45 per share from the previous outlook of $5.30 to $5.40 per share. The consensus estimate currently stands at $5.39 per share.
Also this morning, the company said it is purchasing 10% of Hulu, joining Comcast, The Walt Disney Company and Twenty-First Century Fox in the joint venture. Time Warner also signed an affiliate agreement for Hulu’s new live-streaming service to carry content from Turner Networks.
Shares of Time Warner jumped by as much as 3.59% to $78.50 in premarket trading this morning.
