Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Mills who wrote (13818)	1/21/1999 5:25:00 PM
From: KM	Respond to of 64865

Sun Keeps Shining on Tech Earnings By David Shabelman Staff Reporter 1/21/99 4:54 PM ET IBM (IBM:NYSE) and Sun Microsystems (SUNW:Nasdaq) are the latest high-tech firms to post strong earnings. IBM reported first-quarter earnings of $2.3 billion, or $2.47 a share, beating estimates by 2 cents and coming in 17% above the year-ago $2.11. Revenues rose 6% to $25.1 billion. IBM closed up 2 1/2 at 197 and was holding around that level in after-hours trading, according to Mr. Stock. Sun Microsystems also bested estimates for its second quarter, reporting earnings of $272 million, or 67 cents per share. The First Call consensus called for earnings of 66 cents per share. The result was an 18% increase over the 57-cent per share figure the company posted during its second quarter last year. The company also announced a 2-for-1 stock split. There was some speculation that there may be some downside to Sun's earnings Thursday, and its stock fell 7 to 98 1/4. But those fears were allayed. "People were just selling before the news," says Goldman Sachs analyst Laura Congiliaro. "Investors have seen the stock run up big-time and they were only expecting Sun to meet estimates." Revenue rose 14% to $2.8 billion.