Earnings Recap: Zipcar Inc, Spreadtrum Communications – ZIP, SPRD

On Thursday Zipcar Inc(NASDAQ:ZIP), which runs a car-sharing network, on Thursday said that it was on track to report its maiden annual profit in 2012, after reporting strong third quarter figures.

In the third quarter Zipcar said its revenue rose 15 percent, to $78.2 million, and its membership grew 18 percent to about 767,500. Analysts expected revenue of $75.6 million. Zipcar said it expects net income of as much as $3 million in 2012. Wall Street is forecasting net income of $900,000, or 2 cents per share.

Its net income grew to $4.3 million, or 10 cents per share, in the third quarter, which included a benefit of $1.7 million from zero-emission vehicle tax credits. In the third quarter of 2011 Zipcar posted net income of $651,000, or 2 cents per share, a year ago. Analysts were expecting a smaller profit of a penny per share and $75.6 million in revenue.

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Zipcar forecast $67 million to $71 million in revenue in the fourth quarter and raised its full-year estimate slightly, to a range of $275 million to $279 million. Analysts expect $274.6 million.

Shares of ZIP soared 22%.

Spreadtrum Communications, Inc (ADR)(NASDAQ:SPRD), which makes chips for smartphones, on Thursday, said it made a net income of $23.2 million, or 44 cents per American depositary share, for the three months ended Sept. 30.

That compares with net income of $39.3 million, or 75 cents per ADS, in the prior-year period.

Revenue rose about 2 percent to $187.9 million from $184.8 million a year earlier.

Analysts' consensus forecast called for higher earnings of 46 cents per ADS on $184.5 million in revenue.

Shares of the company are down 11% to $19.

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Groupon Inc (NASDAQ:GRPN) Hits New Low – ZIP, INTC

Groupon Inc(NASDAQ:GRPN)’s shares are having one of the worst trading sessions after its IPO as the stock tumbled 29% to $2.80 after hitting another low of $2.77 as the company’s revenue in the third quarter shy of analysts’ estimate by about 4%. The company, which had been struggling since early January, said that it’s net loss narrowed to of $3 million and broke even a share on revenue of $568.6 million, compared to a year ago loss of $54.2 million and 18 cents a share. On an adjusted basis, it earned 3 cents, matching analysts’ target and missing revenue estimate of 590 million.

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The key concern during quarter was the street had already been expecting the worst case scenario amid the company’s stock tumbled 80% from its IPO price of $20.

Zipcar has reported strong results for the third quarter and said that it will make its first annual profits this year.  This announcement sent the stock flying up 28 percent in extended trading.

The company earned a net income of $4.3 million or 10 cents a share which includes $1.7 million of zero emission vehicle tax credits.  Last year in the same period, the earnings were $651,000 or 2 cents a share.  Analysts were modeling net income of a cent per share.

The revenue for the quarter rose 15 percent to $78.2 million, higher than Street expectations of $75.6 million.

For the fourth quarter, the company has projected revenue between $67 million and $71 million.  For the full year, it has raised the revenue outlook to the range of $275 million and $279 million.  It sees net income at $3 million, higher than analysts’ estimates of $900,000.

The results, which were declared after market close, sent the stock up $1.71 to $7.75.

Intel’s new Itanium processor 9500 series is twice as powerful as the previous generation. The additional power enables these processors to handle heavy workloads and enterprise applications like business analytics, large scale database management and enterprise resource planning (ERP).

The Itanium 9500 processors are the most sophisticated general purpose processors to date with 3.1 billion transistors.

The new processors support up to twice as many cores as the previous generation. With up to 54 MB of on-die memory, it enables up to 2 TB of low voltage DIMMs in a four-socket configuration.

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