Zillow, AOL, Intel: Tech Winners & Losers
NEW YORK (TheStreet) -- Zillow(Z) shares slumped 19.23% to $27.76 on Tuesday after the online real estate information company gave a weak revenue forecast for the fourth quarter.
Zillow said it expects revenue of $30 million to $31 million in the December-ended period. The current average estimate of analysts polled by Thomson Reuters is for revenue of $32.5 million in the December-ended period.
For the third quarter, Zillow posted a profit of $2.3 million, or 7 cents a share, on revenue of $31.9 million, an increase of 67% from last year's equivalent quarter. The average analysts' view was for earnings of 7 cents a share on revenue of $31.7 million.
AOL(AOL) shares zoomed up 13.32% to $40.58 after the online content provider reported stronger-than-anticipated results for the third quarter.
The company said it earned 22 cents a share on revenue of $531.7 million for the three months ended in September, ahead of Wall Street's consensus view for a profit of 17 cents a share on revenue of $521.6 million.
A highlight for AOL was strong revenue from advertising, which saw a 7% year-over-year boost to $340 million.
Apple reportedly is looking at ways to incorporate its own chips into its line of Mac computers, which are based on intellectual property from ARM Holdings(ARMH) . Apple already uses its own chips in its iOS devices, including the iPhone and iPad.
Intel shares were down 2 cents at $21.82, after sinking as low as $21.63 earlier in the session.
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--Written by Chris Ciaccia in New York
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