Apache Corporation (NYSE:APA) has declared a weak first financial quarter results. The oil and gas company has reported a decrease of $1.76 on each share or $717 million in its profit, as compared to $2.00 on each share or $797 million in Q 2012.
While Apache Corporation has declared adjusted earnings as $2.02 a share, and its revenue on quarterly basis decreased to $4.076 billion verses $4.536 billion in Q1 2012.
But analysts at FactSet have predicted Apache earnings at $2.20 on each share, against revenue of $4.29 billion.
The oil and gas company has said on Thursday, that it has planned to divest $4 billion in resources by the end of this year, which would be used to reduce debt and the remaining will be used to repurchase shares. And it future goal the company has to meet’ the company’s this year guidance of 3% to 5% production growth.
In other news, The shrinking PC market has also effected the business of Compal Electronics, Inc. (TPE:2324), as the world’s 2nd largest maker of notebook computers by shipments has report a decreased of 29% in first-quarter earnings.
According to the statement made by company on Tuesday, its PC shipments have internationally decreased by 13.9% in Q1, one of the steepest declines since 1994.
The notebook computers manufacturer, has declared Q1 2013 earnings of 1.36 billion in New Taiwan dollars (NT$), decreased from NT$1.90 billion for Q1 2012. While Dow Jones Newswires seven analysts forecast it earnings as NT$1.56 billion in Q1 2013.
While the revenue of Compal increase by NT$167.56 billion or 4% a share, verses NT$161.76 billion in Q1 2012, but operating margin decreased to 1.2% from 1.7% in Q1 2012.
The company’s Chief Executive Ray Chen has said in his January statement that Compal is staging a turnaround in 2013, with tablet shipments likely to increase 5% and PC shipments to increase by two-digits from 2012.
Compal’s Chief Executive has declared this statement because the company is still behind many of its rivals in earnings performance including Pegatron Corporation (TPE:4938) and Quanta Computer Inc. (TPE:2382). Because these companies has quickly switched towards mobile devices and servers in order to move with market trends.