corporate earnings

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Morgan Stanley Profits Fall 57%
 Morgan Stanley Profits Fall 57%  
Earnings
Jun 18, 2008 8:00 AM CDT

Morgan Stanley Profits Fall 57%

Business bad all around, with declines in sales, trading, and investment banking

(Newser) - Morgan Stanley profits were sliced in half this quarter, the company announced today, as stock slingers failed to offset real estate writedowns. The 57% drop, which brought earnings to $1.03 billion or $0.95 per share, was in line with analyst expectations. CEO John Mack said that thanks to...

CEOs Live the Good Afterlife
 CEOs Live the
 Good Afterlife 
Jun 10, 2008 9:23 AM CDT

CEOs Live the Good Afterlife

Lavish 'severance' payments go to heirs if bosses die at the helm

(Newser) - Corporate critics who say there is not enough connection between performance and executive pay may be gravely concerned to learn that many execs will keep getting sky-high bonuses when they're 6 feet under. A Wall Street Journal review finds dozens of CEOs will receive "golden coffin" payments if they...

PS3 Sales Help Sony Get Its Q4 Game On
PS3 Sales Help
Sony Get Its
Q4 Game On
EARNINGS REPORT
May 15, 2008 6:59 AM CDT

PS3 Sales Help Sony Get Its Q4 Game On

Price cut, new games create resurgence, $224M profit

(Newser) - Sony reported fourth quarter profits of $277 million yesterday, driven largely by its once-sputtering PlayStation 3, which passed Microsoft's Xbox 360 and is nipping at the heels of Nintendo’s Wii. The results vastly improved on a loss of $643.6 million a year ago, reports the Wall Street Journal....

Sprint Loses 1M Customers, $505M in Q1

Embattled carrier will cut 4K jobs, close outlets, sell assets

(Newser) - Sprint Nextel continued to hemorrhage customers in the first quarter, losing more than 1 million subscribers and tallying losses of $505 million, more than double its losses in the same period last year, reports Bloomberg. Sales slipped nearly 8% to $9.33 billion. The carrier, rumored to be a takeover...

MySpace Web's 'Biggest Steal'
MySpace Web's 'Biggest Steal'
OPINION
May 8, 2008 3:22 PM CDT

MySpace Web's 'Biggest Steal'

Despite missing revenue targets, Mashable scribe not afraid to 'wax poetic'

(Newser) - MySpace fell short of revenue targets in the most recent quarter, but, Adam Ostrow argues in Mashable, it’s still proven a phenomenal deal since Rupert Murdoch’s News Corp. bought it for $580 million in 2005. Revenues from its unit are pulling close to its purchase price and it’...

US Woes Drive Toyota Profits Down 28%
 US Woes Drive
 Toyota Profits
 Down 28% 
Earnings report
May 8, 2008 7:15 AM CDT

US Woes Drive Toyota Profits Down 28%

World's No. 2 automaker sees tough year ahead

(Newser) - Even Toyota—with its array of popular gas-sipping vehicles—is struggling in a slumping global economy, according to the latest figures. The world’s No. 2 automaker today reported that earnings for the last quarter fell 28% to $3.05 billion from $4.2 billion a year ago, reports the...

Disney Bucks Economy, Sees Net Rise 22% in Q2
Disney Bucks Economy,
Sees Net Rise 22% in Q2
Earnings Report
May 7, 2008 7:26 AM CDT

Disney Bucks Economy, Sees Net Rise 22% in Q2

Recession, gas prices can't stop entertainment giant's gains

(Newser) - Even rising gas prices couldn’t dent Disney’s second-quarter earnings. The company’s theme park earnings climbed 33%, helping push its overall net up 22% from a year ago, reports the Wall Street Journal. Disney also recorded a 61% jump in earnings from its movie arm and a 14%...

Slumping Razr Sales Slash Moto Earnings
Slumping Razr Sales Slash Moto Earnings
Earnings report
Apr 24, 2008 7:59 AM CDT

Slumping Razr Sales Slash Moto Earnings

Motorola posts larger-than-expected $194M loss

(Newser) - Apple and Nokia chewed away at Motorola’s cellphone market share, pushing the troubled handset maker to a larger first-quarter loss than expected, Bloomberg reports. Moto lost $194 million, or 9 cents a share, and revenues fell 21% to $7.45 billion. The company also  issued a bleak forecast for...

Ford Surprises With $100M Q1 Profit
 Ford Surprises With
 $100M Q1 Profit 
Earnings report
Apr 24, 2008 7:28 AM CDT

Ford Surprises With $100M Q1 Profit

Cost cutting offsets weak sales in US for world's No. 3 automaker

(Newser) - Ford today posted an unexpected first-quarter profit of $100 million, Bloomberg reports, the result of cost cutting in North America and strong overseas sales. Analysts had anticipated a loss on the order of last year's first-quarter drain of $282 million. The world’s third-largest automaker said its revenues increased 1....

Yahoo Hopes Q1 Report Will Boost Microsoft Bid
Yahoo Hopes Q1 Report Will Boost Microsoft Bid
Earnings Preview
Apr 21, 2008 10:50 AM CDT

Yahoo Hopes Q1 Report Will Boost Microsoft Bid

Data out tomorrow expected to be in line with analysts' expectations

(Newser) - All eyes will be on Yahoo's first-quarter earnings report tomorrow; the company hopes to use solid results to pressure Microsoft into sweetening its takeover bid, the Wall Street Journal reports. The report comes just 2 days before Microsoft's own and 4 days before the deadline the latter set for a...

Bank of America Posts 77% Dive on $6B in Writedowns
Bank of America Posts 77% Dive on $6B in Writedowns
Earnings Report
Apr 21, 2008 8:00 AM CDT

Bank of America Posts 77% Dive on $6B in Writedowns

Writedowns pack bigger punch than analysts expected

(Newser) - More than $6 billion in subprime writedowns sent Bank of America profits skidding for the third straight quarter today, as the nation's second-largest bank posted a 77% decline in net income for the first quarter. Earnings were $1.21 billion, down from $5.26 billion a year ago, reports Bloomberg....

National City Close to $6B Cash Infusion

US's 10th-largest bank has been decimated by the mortgage crisis

(Newser) - Battered National City—which has seen shares plummet 78% as it's been overwhelmed by the subprime fiasco—is close to a $6 billion bailout funded by some of its largest shareholders and private equity firm Corsair Capital, reports the Wall Street Journal. The infusion for the Cleveland-based bank would be...

GE CEO Parries Critics —Including Predecessor

Despite missing earnings forecasts, Immelt says he'll stay the course

(Newser) - General Electric CEO Jeffrey Immelt faced the music yesterday, as his predecessor, Jack Welch, raked him over the coals on his own cable TV network for missing first-quarter earnings forecasts. Immelt admitted GE “let people down” in downgrading its outlook for 2008, the Wall Street Journal reports. But he...

Markets Up Big on Earnings
 Markets Up Big on Earnings 
MARKETS
Apr 16, 2008 3:42 PM CDT

Markets Up Big on Earnings

Limited losses by JPMorgan, Wells Fargo key best jump in two weeks

(Newser) - Stocks staged a rally today on the strength of profit reports from JP Morgan and Intel. "The bear market is bottoming, and folks are beginning to look beyond the valley of widely known problems to better times ahead," a strategist tells the Wall Street Journal. The Dow ended...

JPMorgan Q1 Profits Plunge 50% on $5.1B Writedowns
JPMorgan Q1 Profits Plunge 50% on $5.1B Writedowns
Earnings Report
Apr 16, 2008 7:18 AM CDT

JPMorgan Q1 Profits Plunge 50% on $5.1B Writedowns

Blames credit markets, slowing economy

(Newser) - JPMorgan Chase, battling $5.1 billion in subprime writeoffs and deteriorating consumer credit, reported first quarter profits fell 50%, reports the Wall Street Journal. CEO Jamie Dimon warned the outlook for the remainder of 2008 was likely as grim. Morgan—the 3rd-largest US bank—said profits dropped to $2.37...

Intel Rides Global Sales to Strong Q1
Intel Rides Global Sales
to Strong Q1
Earnings Report
Apr 16, 2008 6:50 AM CDT

Intel Rides Global Sales to Strong Q1

Profit jumps 9% as chip-maker surprises Wall Street

(Newser) - Global demand for computer chips helped Intel power to a 9% first-quarter revenue gain, beating analysts' estimates and sending a message that while US sales may be slumping, the world’s largest chip maker’s still got game. Intel stock rose 7.7% in after hours trading, the New York ...

North American TV Sales Drag Philips Down

Profits off 28% in first quarter as electronics giant feel pinch

(Newser) - An expanding health-care sector in China couldn’t help Royal Philips Electronics offset poor television and video sales in North America, as the world’s leading lighting company reported core profits fell 28% in the first quarter, Reuters reports today. The company said it expects the global economic slowdown will...

Cancer Drug Sales Push Genentech Profits Up 12%

But analysts say Avastin sales slowing

(Newser) - Biotech firm Genentech said sales of its blockbuster cancer drug Avastin fueled a first-quarter profit increase of 12%, reports the Wall Street Journal, but the $600 million in sales was below analysts’ projected $622 million, causing some to grumble the drug may have reached a sales plateau. Genentech stock edged...

BlackBerry Maker Sees Earnings Soar by 54%
BlackBerry Maker Sees Earnings Soar by 54%
Earnings report
Apr 3, 2008 6:53 AM CDT

BlackBerry Maker Sees Earnings Soar by 54%

Smartphone sales double to $1.88B

(Newser) - Strong North American sales helped Research in Motion to a 54% fourth quarter earnings increase, despite a global economic slump, reports the Wall Street Journal. The BlackBerry smartphone maker said quarterly sales doubled to $1.88 billion. RIM yesterday also projected first-quarter sales of $2.3 billion, topping analysts' estimates...

Oracle Stock Dives 8% on Flagging Q3 Revenue
Oracle Stock Dives 8%
on Flagging Q3 Revenue
Earnings report
Mar 27, 2008 7:45 AM CDT

Oracle Stock Dives 8% on Flagging Q3 Revenue

Despite a 30% jump in profits, investors worry the software maker is vulnerable

(Newser) - Oracle missed its third-quarter revenue projections yesterday and investor reaction was swift and dramatic: shares of the software maker dropped 8% in after-hours trading, reports the Wall Street Journal. This despite the fact that Oracle’s profits rose 30% to $1.34 billion, 26 cents per share, from $1.03...

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