The Largest USA Tech Companies reported some impressive gains in net income from the prior year. Qualcomm (+123%) and Apple (+94%) led the way, followed by Google (+61%) and Cisco (+43%). Next were Oracle (+18%) and IBM (+7%). The remainder lost ground, Microsoft (-2%), Intel (-13%), and HP (-44%), reported decreases year over year.
As you peruse the chart below, is there a trend? For at least this quarter there is. New Tech trumped Old Tech. Who are the laggards? The venerable companies: IBM, Microsoft, Intel, and HP. Who are the leaders? The leading edge companies: Qualcomm, Apple, Google.
That leaves Cisco and Oracle in the middle, who are doing well, but are more involved in infrastructure and software.
Sequential quarterly net income results, the change from the prior quarter, are not so trendy. First, HP is not included in the chart below. HP, which is among the walking wounded, rallied and led the way with a huge increase of +514% in net income QoQ. HP reported $1.47 billion net income for their latest quarter, compared to a paltry $239 million in the prior quarter. Including HP skews the chart and obscures the data.
Others reporting net income increases quarter over quarter were Qualcomm (+59%), Cisco (+23%), Oracle (+14%), and Google (+7%). Reporting a decrease in net income from the prior quarter were Apple (-11%), Intel (-19%), Microsoft (-23%), and IBM (-44%). The first calendar quarter is typically a drop from the Holiday fourth quarter for many tech companies in total revenues, net income, and earnings per share.
Updated through Apple quarterly financial results reported 4-24-12
Next reports: Cisco (May), HP (May), Oracle (June)