Notable Earnings: Google (GOOG), Advanced Micro Devices (AMD), Schlumberger (SLB), SolarWinds (SWI)

Google Inc. (GOOG) shares are up $66 to $626 in after-hours trading Thursday after the company reported its second quarter earnings results.

Excluding stock compensation expense and several other items, the search giant posted earnings of $6.99 per share on revenues of $17.73 billion, up 11.10% from a year ago. Analysts were expecting EPS of $6.70 on revenues of $17.76 billion.

Google said the number of clicks on ads in the second quarter rose 18%, compared with a 13% increase in the first quarter. Net income was $3.93 billion, compared with $3.35 billion a year earlier.

Advanced Micro Devices, Inc. (AMD) reported second quarter non-GAAP EPS loss of $0.17 after the closing bell Thursday, in-line with analysts’ estimates. Revenues fell 34.6% from last year to $942 million. Analysts expected revenues of $948.38 million.

“Strong sequential revenue growth in our EESC segment and channel business was not enough to offset near-term challenges in our PC processor business due to lower than expected consumer demand that impacted sales to OEMs,” President and CEO Dr. Lisa Su said in a statement.

Su continued, ‘We continue to execute our long-term strategy while we navigate the current market environment. Our focus is on developing leadership computing and graphics products capable of driving profitable share growth across our target markets.”

Looking ahead, AMD said it expects 3Q15 revenue to increase 6%, plus or minus 3%, sequentially.

The stock is currently up $0.05 to $1.92 on 20.34 million shares.

Schlumberger Limited (SLB) gained $1.21 to $85.10 in after-hours trading after it reported fiscal-second quarter earnings.

The world’s largest oilfield services company handed in earnings of $0.88 per share on revenue of $9.01 billion, beating Wall Street estimates of $0.79 per share on revenue of $9.00 billion.

Despite the beat, Schlumberger’s Chairman and CEO Paal Kibsgaard said that Schlumberger’s 2Q revenue “decreased 12% sequentially, driven by the dramatic decline in North American land activity as the rig count dropped by a further 40% and as pricing erosion continued in both North America and the International Areas. North America revenue fell 27% sequentially, while International revenue was 5% lower as customer budget cuts and pricing concessions impacted results for a full quarter.”

On valuation measures, Schlumberger Ltd. shares, which currently have an average 3-month trading volume of 7.42 million shares, trade at a trailing-12 P/E of 22.65, a forward P/E of 22.02 and a P/E to growth ratio of 2.40. The median Wall Street price target on the name is $101.50 with a high target of $125.00. Currently ticker boasts 22 ‘Buy’ endorsements, compared to 12 ‘Holds’ and no ‘Sell’.

The $106.52 billion market cap company reported $7.27 billion in cash and short-term investments vs. $9.11 billion in debt in its most recent quarter.

SolarWinds, Inc. (SWI) dropped $5.05 to $42.00 in after-hours trading after it reported fiscal results for the second quarter.

In its quarterly report, the management software developer said it earned $0.52 per share, well above the $0.46 per share analysts were expecting. Revenue rose 17.30% to $119.1 million, but below views for $122.58 million.

For the current quarter ending in September, SolarWinds said it expects its non-GAAP diluted EPS to range between $0.49 to $0.53. Total 3Q15 revenue on a reported basis is expected to be in the range of $130 million to $134 million.

For full fiscal year 2015, SolarWinds expects earnings in the range of $2 to $2.08 per share, with revenue ranging from $502 million to $512 million, or 17% to 19% yoy growth.

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