CA Technologies Q2 better than expected

Tech earnings overall were generally above estimates. VeriSign and MobileIron also reported.
Written by Larry Dignan, Contributor

CA Technologies led a series of tech earnings reports that were generally better than expected.

The company reported second quarter income from continuing operations of $212 million, or 50 cents a share, on revenue of $1.02 billion. Non-GAAP earnings for the second quarter were 67 cents a share.

Wall Street was expecting earnings of 62 cents a share on second quarter revenue of $1 billion.

Mike Gregoire, CEO of CA, said that the company's "product development and innovation engines are beginning to gain momentum." There's work to do, but the company is on the right track, he added.

The company's revenue saw a boost due to software fees, but that was offset by decreases in services and maintenance sales. CA Technologies landed 11 license agreements with incremental contract values topping $10 million.

As for the outlook, CA said it sees revenue that'll be flat to up 1 percent for fiscal 2017. That translates to $4.03 billion to $4.07 billion. Non-GAAP earnings will be $2.49 a share to $2.54 a share.

Among other earnings:

VeriSign reported third quarter earnings of $114 million, or 90 cents a share, on revenue of $288 million, up 8.2 percent from a year ago. Non-GAAP earnings were 93 cents a share. Wall Street was looking for non-GAAP third quarter earnings of 87 cents a share on revenue of $287.1 million.

MobileIron reported third quarter net loss of $14.6 million, or 17 cents a share, on revenue of $41.56 million. The non-GAAP loss was 7 cents a share for the third quarter. Wall Street was looking for a non-GAAP loss of 9 cents a share on revenue of $40.78 million.

For the outlook, MobileIron projected revenue between $44 million and $46 million for the fourth quarter.

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