quarterly reports

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Netflix's Growth Comes at a Cost

Company has gained $5.1B in debt in one year

(Newser) - Netflix is sinking deeper into debt in its relentless pursuit of more viewers, leaving the company little margin for error as it tries to build the world's biggest video subscription service, reports the AP . Netflix's long-term debt and other obligations totaled $21.9 billion as of Sept. 30,... More »

How Tobacco-Free CVS Is Coping

Non-pharmacy sales dropped 8% in Q2

(Newser) - CVS banned cigarettes from its stores last fall and last month showed it's sticking to its anti-tobacco stance , believing it's the right thing to do. The company's sales say otherwise. Though CVS' prescription sales climbed 4% in the second quarter, sales outside the pharmacy fell by almost... More »

Radioshack Bleeding, Will Close 1 in 5 Stores

Company announces dismal holiday sales numbers

(Newser) - Radioshack released an absolutely grisly quarterly report today, and on its heels came plans to close as many as 1,100 stores—or about 20% of its total, the Wall Street Journal reports. The company said it had lost $191.4 million over the holiday quarter, a huge jump from... More »

Mobile Ads Help Facebook Beat Expectations

Revenue is up 60% for the quarter

(Newser) - Facebook posted a 60% revenue increase in the third quarter thanks to mobile advertising growth. The numbers beat Wall Street's expectations for the second consecutive quarter. The world's largest social network said today that it earned $425 million, or 17 cents per share, in the July-September period. That'... More »

Surprisingly Strong Quarter Lifts Facebook Stock

It's now at $31, edging closer to $38 at IPO

(Newser) - Facebook's stock is flying high after the world's biggest social network posted higher revenue from mobile ads and delivered a healthy second-quarter profit that reversed a loss a year earlier. Facebook said today that it earned $333 million, or 13 cents per share, in the April-June period. That'... More »

iPhone Sales Help Apple Beat Estimates

But company earnings drop for second straight quarter

(Newser) - Apple's latest quarterly report offers a mixed bag: On the negative side, the results confirm that the iPhone maker's growth has stalled along with its pace of innovation. But on the bright side, sales of those iPhones were better than expected and helped the company beat analyst estimates.... More »

Today's Huge Tech News: Apple's Earnings

Barclays analyst calls Apple's post-report call 'most important ... in years'

(Newser) - A dark cloud is hovering over Apple's collective head: Analysts expect today's earnings report, to be released after the closing bell, to show the company's first drop in profits since 2003. Their estimates, as reported by Bloomberg and the Los Angeles Times , peg the fiscal Q1 net... More »

Apple Profits Surge 47% on iPhones, Macs

iPhone, Mac sales lead to blowout quarter

(Newser) - Apple rocketed to a 47% increase in quarterly profits as consumers kept buying iPhones and Macs through the recession, helped by a price drop and overseas expansion. The company posted a profit of $1.67 billion last night, exceeding even the highest expectations on the Street. The biggest surprise was... More »

Dow Climbs 96 to New 2009 High

Expectations for Caterpillar, AmEx earnings boost Dow

(Newser) - Stocks rallied today on expectations for this week’s earnings reports, with the Dow rising 96.28 points to hit a new 2009 high of 10,092.19. Caterpillar, which reports tomorrow, gained 6.5% after saying it would raise prices. American Express, which reports Thursday, gained 2.6%. Traders... More »

Tech Snaps Nadaq's Streak; Dow Climbs 24

Amazon, Microsoft fall after weak earnings

(Newser) - The tech sector exerted downward pressure on stocks today, snapping the Nasdaq’s 12-day winning streak, the Wall Street Journal reports. Microsoft sank 8.9% after reporting a 29% drop in quarterly earnings, while Amazon fell 8.3% after also reporting a disappointing quarter. Alcoa, Pfizer, and Merck helped the... More »

Ford Shocks Street With $2.3B Profit

(Newser) - Ford surprised the markets today by posting a $2.3 billion quarterly profit, thanks mostly to debt restructuring actions, Reuters reports. The result beat estimates and represents Ford's first good quarter in more than a year; this time in 2008, the automaker lost $2.7 billion. But the global downturn... More »

Apple Earnings Up 15% on iPhone, Mac Success

Firm sold 5.2 million iPhones last quarter

(Newser) - Apple reported a strong quarterly profit, beating analysts’ expectations by selling 5.2 million iPhones and 2.6 million Mac computers, MarketWatch reports. The firm reported earning $1.23 billion on revenue of $8.34 billion in the quarter ending June 26. Sales of iPhones were the highlight, as the... More »

Ford Loses Just $1.4B, Turns Down Treasury Money

Automaker burns through cash but remains healthier than rivals

(Newser) - Ford announced today a loss of $1.4 billion for the first three months of 2009—its worst Q1 result in 17 years, but nevertheless one that beat expectations, Bloomberg reports. The automaker said it expected to break even or possibly turn a profit in 2011, and it would not... More »

Buffett Has Worst Year Ever

(Newser) - Not even legendary investors can escape this mess. Warren Buffett’s Berkshire Hathaway posted its worst year ever in 2008, the Wall Street Journal reports. A key indicator, book value per share, fell 9.6%, only the second loss since Buffett took control of the company in 1965. Berkshire reported... More »

NEC to Lay Off 20,000

Japanese electronics giant hammered by falling demand, stronger yen

(Newser) - The Japanese electronics giant NEC announced today that it will cut 20,000 jobs worldwide after posting a fourth-quarter loss of $1.45 billion, reports the Wall Street Journal. NEC's losses ballooned as demand fell for its semiconductors and chips, and the strength of the yen further hurt its bottom... More »

Citi Posts $8.3B Loss, Prepares to Split in Two

Still smarting from bad mortgage bets, the company will split to remain solvent

(Newser) - Citigroup lost $8.29 billion in the fourth quarter—twice as much as expected—as the credit crisis continues to batter big banks, Bloomberg reports. The bank suffered a net loss of $1.72 per share, falling far short of analysts’ estimates. Citigroup, which lost 77 percent of its trading... More »

Deutsche Bank Posts $220M Loss—First in 5 Years

German bank loses $220M on billions in writedowns

(Newser) - Deutsche Bank posted its first quarterly loss in 5 years today, reflecting the impact of the credit crisis on its investment banking activities. Germany's largest bank reported a net loss of $220 million and admitted that the short-term outlook for the firm remained highly uncertain. Deutsche also took $4.2... More »

Credit Suisse Posts $2.1B Loss

$5.2B in writedowns shake Swiss banking group

(Newser) - Credit Suisse has announced it lost a mammoth $2.1 billion in the first quarter, reports the Financial Times. The Swiss banking group, which until recently appeared to have escaped the worst of the credit crunch, continued to post strong earnings from its private banking sector—but that wasn't enough... More »

Citigroup Posts $5B Loss, Will Cut 9,000K Jobs

News is worse than expected for nation's largest bank

(Newser) - Citigroup reported a first-quarter loss of $5.1 billion today, posting another $14 billion in writedowns as a result of the credit crunch and loan defaults, the Wall Street Journal reports. The loss of $1.02 a share exceeded analysts' estimates and marks the second straight quarterly loss for the... More »

Syria Remains Key for Foreign Fighters in Iraq: US

90% of Iraq's foreign fighters come across neighbor's borders, new report contends

(Newser) - Syria is a key jumping-off point for foreign militants in Iraq, with 90% entering through the Syrian border, the Pentagon reported yesterday. “It is not clear that Syria has made a strategic decision to deal with foreign terrorists using Syria as a transit point,” the report notes. Meanwhile,... More »

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