Earnings Roundup: J2 Global, Oaktree, VCA AntechThursday, February 13, 2014
J2 Global Inc. shares jumped 19 percent in after-hours trading Thursday after the Hollywood company reported better-than-expected adjusted profit and gave optimistic future guidance.
After the markets closed Thursday, the Internet-based business services provider reported net income of $20.7 million (44 cents a share), compared with $30.2 million (65 cents) in the same period a year earlier. Adjusted earnings were 80 per share, beating the Wall Street consensus of 78 cents. Revenue rose 35 percent to $138 million, lower than the analysts' expectations of more than $139 million.
Looking ahead to the current year, J2 Global expects earnings to range between $3.23 to $3.47 a share, with revenue between $580 million and $600 million. Analysts on average expect the company to report $2.95-a-share profit on revenue of $546 million.
Shares earlier closed up 87 cents, or 2 percent, to $46.84 on the Nasdaq.
Oaktree Capital Group on Thursday said its fourth-quarter profit rose 65 percent as the distressed debt investor earned more in fees from its clients for exceeding performance targets
The downtown Los Angeles investment company reported net income of $64.9 million ($1.69 a share), compared with $39.3 million ($1.30) in the same period a year earlier. Assets under management rose 5 percent to $83.6 billion as the firm attracted new money.
Shares closed up $1.86, or 3 percent, to $59.72 on the New York Stock Exchange.
VCA Antech Inc. said that it moved to profit in its fourth quarter as revenue from its veterinary clinics and laboratories grew.
After the Thursday markets closed, the Los Angeles company reported net income of $24.7 million (28 cents a share), compared with a net loss of $58.1 million (66 cents) in the same period last year. Revenue rose 4 percent to more than $435 million.
Shares earlier closed up 3 cents, or less than 1 percent, to $31.73 on the Nasdaq, and fell 2.3 percent in after-hours trading.