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Tech Industry

Balancing the books

Industry stalwarts and Internet companies report mixed earnings for the latest quarter.

Among the high-tech firms closing their books for the quarter included industry stalwarts like Sun Microsystems, Digital Equipment, and Bay Networks, as well as cutting-edge Internet companies like @Home and Excite that are seeing their stocks surge even though they are still struggling for profitability.

Bay misses revised estimates
update Even after lowering Wall Street expectations last month, Bay Networks announced third-quarter results that came in well below revised estimates.

@Home users nearly double
The cable Net service lost money in the first quarter but nearly doubles its subscriber base.

Excite traffic pumps revenue
The search firm narrows its first-quarter net losses and increases revenue by 206 percent from the like quarter a year ago.

Sun profits, revenues up
update Sun Microsystems posts a jump in third-quarter profits and a 12 percent increase in revenues, fueled by sales of its new low-end workstations.

Digital revenue down
Digital Equipment reports a drop in revenue due to a strong U.S. dollar.

Sprint net earnings fall
Sprint says its first-quarter long distance revenues rose 9 percent from last year to $2.37 billion, with minutes of use jumping 11 percent.

TI revenues drop
However, revenue and orders for DSPS increase from the same period a year ago, driven by record orders for wireless communications.