quarterly results

16 Stories

Economy Shrank 1% in Q1

It's the first time since 2011—but it's temporary: economists

(Newser) - For the first time since 2011, the US economy shrank in the first quarter—by 1%. Economists expected a 0.5% drop, but tell the AP that the Q1 numbers had to do with the harsh winter. Thanks to stronger manufacturing, faster job growth, and more retail spending, the fall... More »

Facebook Reports Lousy Q1 Ahead of IPO

Revenue and profit dip, scaring analysts

(Newser) - People planning on snapping up Facebook shares in its upcoming IPO got a nasty surprise as the company announced its first quarter-to-quarter revenue and profit slide in at least two years. Facebook blamed the drop on seasonal advertising trends, but "it was a much faster slowdown than we would... More »

In This Crappy Economy, Corporate Profits Soar

There's a disconnect between profitability and jobs

(Newser) - There's a whole lot of evidence that the US' economic recovery isn’t going well—unemployment remains too high, consumer lending too low, and consumer confidence in shambles—but one place you won’t find that evidence is on corporate balance sheets. US companies are poised to post big... 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 »

Major Companies Believe a Rebound Cometh

Firms split on whether the bottom has been reached

(Newser) - Some major companies are slowly becoming optimistic about the economy again, the Wall Street Journal reports. Delta Airlines says seat sales are almost at the level they were a year ago and United Technologies says its decline in orders is stabilizing. Intel is among the most upbeat, saying "the... More »

CEO: Starbucks Perking Up

After drop in third quarter, coffee chain's sales improved in October

(Newser) - Starbucks' CEO says the company is percolating again and may have hit bottom in the quarter that ended in September, the Wall Street Journal reports. The chain again saw declining sales, says Howard Schultz, but he also noted a “slight improvement” in October. Starbucks has been shutting stores, and... More »

Lehman Bros. to Report 3Q Stats Today in Bid to Calm Market

Battered firm to unveil 'strategic initiatives'

(Newser) - Lehman Brothers plans to release its third-quarter results and "key strategic initiatives" this morning—a week earlier than expected—in a bid to calm investors, Marketwatch reports. The securities firm took its biggest Wall Street walloping in history yesterday, with share prices plunging 45% to finish 85% down from... More »

American Stiffens Frequent-Flier Rules

Fees see an increase in a move to cut costs

(Newser) - American Airlines has added stiffer fees and higher mileage requirements to its frequent-flier program as the airline struggles to cope with fuel costs, the New York Times reports. American, which posted a $1.16 billion loss for the second quarter, is following the lead of Delta, which tightened the purse... More »

Could-Have-Been-Worse News Now Cheers Wall Street

A year into crisis, analysts redefine once-shocking news as not so bad

(Newser) - Yesterday's announcements of multibillion-dollar losses at Wachovia and Washington Mutual were only the latest poundings since the credit crisis took hold a year ago. Yet Wall Street, its expectations at rock bottom, cheered the reports because they could have been worse. Shares in WaMu, which posted a $3.3 billion... More »

Lehman Axes 2 Top Execs in Effort to Stem Slide

CFO and COO both get pink slips after quarterly loss

(Newser) - Lehman Brothers, struggling to allay mounting worries about the company's balance sheet, today axed its COO and CFO. The move comes days after the bank reported a $2.8 billion quarterly loss. Joseph Gregory and Erin Callan will both remain at Lehman, but will be replaced at the top by... More »

Mammoth Writedowns Hammer AIG

Insurance giant posts $7.8B 1Q loss as credit woes continue

(Newser) - American International Group posted a record-breaking $7.8 billion first-quarter loss yesterday, reports the Wall Street Journal. The insurance giant blamed the poor results on the sagging housing market, the credit crunch and the see-sawing stock market. It announced plans to raise $12.5 billion to patch up the damage... More »

Surprise Loss, $7B Cash Infusion for Wachovia

Fourth-largest bank was prime player in mortgage mess

(Newser) - Wachovia reported a surprise first-quarter loss today 2 years after taking over a subprime-dealing savings and loan. The CEO of the fourth-largest US bank was “deeply disappointed” that the bank lost $393 million, or 20 cents a share; analysts had anticipated earnings of 40 cents a share, Bloomberg reports.... More »

Profits Slide as Dell Streamlines

6.5% drop on consumer slump, 'slow as molasses' turnaround

(Newser) - Dell posted a 6.5% decline in profits for its fiscal fourth quarter yesterday, citing slowed consumer spending and the cost of restructuring, which included slashing thousands of jobs, the Wall Street Journal reports. The Dell results are likely to cause concern about other tech stocks—especially those that rely... More »

Profits Burnout at Electronic Arts

Game maker loses money despite soaring game sales

(Newser) - Video game sales are at an all-time high but the world's largest independent publisher of them has reported a third-quarter loss, reports the AP. Electronic Arts says the loss is down to restructuring and accounting changes. Revenue was up 17%, but the company saw its share of the market slip... More »

Sun Posts Strong Profits

Services pick up the slack from core hardware divisions

(Newser) - Sun Microsystems today reported a profit of $260 million for the quarter ending Dec. 30, MarketWatch reports. Though total revenue was $3.62 billion, Sun’s service and sales were responsible for most of the gains, growing to $1.37 billion from $1.31 billion in the same quarter last... More »

No Worm in Apple, Yet Stock Falls

Record-high $1.5B earnings fail to placate nervous investors

(Newser) - Despite reporting record-high earnings, Apple saw its stocks fall more than 11% after the market closed today, the New York Times reports. Apple's lowered 2nd quarter earning expectations may have sparked the drop, analysts say, unless investors are anxious about the high-end electronics market in general as the US economy... More »

16 Stories