Monday (August 18, 2014) started on a positive note for the tech industry with majority of stocks gaining momentum. Major tech giants including Apple Inc (NASDAQ:AAPL), Yahoo! Inc (NASDAQ:YHOO), and Netflix, Inc. (NASDAQ:NFLX) carried the trend forward. Some of the major gainers of the day beside these include Hewlett-Packard Company (NYSE:HPQ), Google Inc (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT), International Business Machines Corp. (NYSE:IBM), and Facebook Inc (NASDAQ:FB).
Apple Inc. (NASDAQ:AAPL) started at $98.00 when market opened and closed at $99.16 with an increase of 1.2 percent. Last quarter ending on June 28, 2014 was excellent for Apple Inc. (NASDAQ:AAPL) with an EPS growth of 20% and quarterly revenue of $37.4 billion. Net profit for the quarter was $7.7 billion and the company declared $0.47 dividend against every share.
It was an excellent start for Yahoo! Inc (NASDAQ:YHOO), which gained nearly 2.50 percent on its share price. Yahoo’s shares opened at $36.47 and closed at $37.38 with an increase of 2.50%. Yahoo! Inc (NASDAQ:YHOO) reported its second quarter results 2014 with a 4% decline in its revenue at $1,084 million (GAAP revenue). Adjusted EBITDA for the quarter was $340 million and GAAP net earnings of $270 million.
Netflix, Inc. (NASDAQ:NFLX) helped the tech sector momentum with an increase of 1.51 percent in its share price. The share started at $459.09 and closed at $466 with 1.51% increase in its value. Netflix, Inc. (NASDAQ:NFLX) reported total revenue of $1,146 million for the second quarter 2014 with $212 million contribution profit. Netflix, Inc. (NASDAQ:NFLX) reported earnings per share of $1.15 for the quarter. The company had 50.05 million subscribers at the end of the quarter.
This article has been written by Prakash Pandey and edited by Serkan Unal.