profits

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Wall Street Bonuses Surge 17%

After nasty 2008, firms set to make record $55B profit

(Newser) - New York state expects Wall Street bonuses for 2009 to total $20.3 billion, a 17% jump over 2008 that will bring the average bonus up to almost $124,000 from $112,000. At the largest firms, overall compensation is estimated to be up 31% to more than $340,000,...

Goldman to Insurers: Health Reform Will Hurt


 Goldman to Insurers: 
 Health Reform Will Hurt 

best plan is no plan
Nov 13, 2009 9:48 AM CST

Goldman to Insurers: Health Reform Will Hurt

Who knew Wall Street and teabaggers could agree?

(Newser) - Here's a reason for Goldman Sachs to be even more popular with the public: The investment bank has issued research on private health insurers advising that fighting off reform would best for their bottom line. Goldman takes as the “base” case passage of the bill that exited the Senate...

Yahoo Triples Profits After Cost-Cutting

Revenue falls, but downsized company earns $186M

(Newser) - Yahoo’s third-quarter profit more than tripled even though the company's quarterly revenue fell in the double digits for the third consecutive time. The earnings improvement reported today was primarily driven by extensive cost-cutting that has eliminated more than 2,000 jobs in the past year. The company, however, is...

Web Game Nets Creator $1.5M
  Web Game Nets Creator $1.5M 
Oct 8, 2009 2:13 AM CDT

Web Game Nets Creator $1.5M

Players pay for extra points to commit murder, mayhem

(Newser) - An Internet crime game has earned its young creator nearly $1.5 miilion. Torn, a text-based game noir that lets players commit murder and mayhem, boasts some 41,000 active players and 1.3 million account holders worldwide. The game is free, but players can opt to pay $5 a...

Fickle User Base May Doom Facebook
 Fickle User Base 
 May Doom Facebook 
OPINION
Sep 17, 2009 10:24 AM CDT

Fickle User Base May Doom Facebook

Users with no brand loyalty are a shaky foundation to build a long-lasting business on

(Newser) - These are rosy times for Facebook, but there's no guarantee the social networking juggernaut will even be around 5 years from now, Gary Andrew Poole writes for True/Slant.  The newly profitable site is riding high, with 300 million users. But as fallen giants like AOL and veterans of the...

Self-Serve Ads, Goods Work Well for Facebook
Self-Serve Ads, Goods
Work Well for Facebook
ANALYSIS
Sep 16, 2009 5:37 PM CDT

Self-Serve Ads, Goods Work Well for Facebook

After missteps, Zuckerberg and co. have found some winning formulas

(Newser) - Reports on Facebook’s newly announced profitability have focused on a fixed deal with Microsoft that generates a large chunk of their income. But the site’s homegrown revenue sources—self-serve advertising and virtual gifts—shouldn’t be discounted, writes Bobbie Johnson for the Guardian. The personal information on Facebook...

Facebook Makes Money At Last
 Facebook Makes Money At Last 
Sep 16, 2009 8:55 AM CDT

Facebook Makes Money At Last

Social networking site hits profitability ahead of schedule

(Newser) - After mountains of hype, Facebook has joined the ranks of profitable enterprises, despite an advertising model that Ad Age describes as “nascent.” Mark Zuckerberg announced yesterday that the social site had passed the 300 million registered-user mark and become “cash-flow positive” last quarter. That actually puts it...

US Reaps Profit as Banks Pay Back TARP Funds

Fed pulls in $14B from loan programs

(Newser) - When the government spent some $240 billion last year to help avert financial disaster, the idea of making a profit from the TARP funds invested in teetering banks looked like a long shot. Now, however, profits from eight banks who’ve paid back the cash have totaled some $4 billion,...

Internet Freebies Whack Porn Biz

(Newser) - The American porn movie biz is not so hot anymore, and the recession isn't the only reason. Porn entrepreneurs say free content on the Internet is horning in on their business, reports the Los Angeles Times. "The opportunities in this industry really are disappearing," said a star of...

JPMorgan Profit Jumps 36%, Defying Expectations
JPMorgan Profit Jumps 36%, Defying Expectations
EARNINGS REPORT
Jul 16, 2009 7:00 AM CDT

JPMorgan Profit Jumps 36%, Defying Expectations

(Newser) - JPMorgan Chase, the largest bank to repay TARP money, posted second-quarter earnings of $2.7 billion—smashing analysts' predictions with a 36% increase in profit. The bank became America's second-largest after hoovering up Bear Stearns and Washington Mutual, and like Goldman Sachs it has used a boom in investment banking...

Goldman Inspires Jealousy, Suspicion With Soaring Profits

(Newser) - Goldman Sachs is expected to announce stunning profits for the second quarter tomorrow, inspiring jealousy on Wall Street and suspicion on Main Street, as taxpayers wonder whether they've been taken for a ride, reports the New York Times. The bank repaid its multibillion dollar government loan last month, and could...

Hell's Kitchen Chef Sees Profits Fry

Ramsay pours millions into failing biz, admits 'ambition overtook me'

(Newser) - Burned by plunging profits after a year of dizzying expansion, Hell’s Kitchen star Gordon Ramsay admits he bit off more than he could chew. Profits at Gordon Ramsay Holdings, which the fiery chef co-owns with his father-in-law, have dropped 90%, forcing the pair to pour more than $8 million...

Virgin Soars as BA Posts Record Loss
 Virgin Soars 
 as BA Posts 
 Record Loss 
EARNINGS REPORTS
May 26, 2009 5:37 AM CDT

Virgin Soars as BA Posts Record Loss

Branson's airline doubles profits year-on-year

(Newser) - Virgin Atlantic announced today that its annual profits had nearly doubled to $109 million, while its rival British Airways posted a record annual loss of $638 million. According to the Times of London, Richard Branson's airline increased its market share and drew substantial revenue from its premium services. Virgin, which...

Don't Celebrate Yet: Earnings Are Up, but Not Sales

Though first-quarter profit beat expectations, a growth story is absent

(Newser) - The fact that 66% of American companies beat their first-quarter earnings expectations is good, writes Henry Blodget in Clusterstock, but not as good as it looks. A closer examination of the data shows that while profits increased, revenues did not, and “you can’t fire your way to prosperity....

Apple's Profit Soars; Jobs Due Back in June

(Newser) - Steve Jobs may be on the sidelines—at least in theory—but Apple is showing no signs of a letdown. The company's quarterly profit surged 15% on strong sales of iPhones and iPods, the Wall Street Journal reports. Jobs, reportedly still very much calling the shots during his medical leave,...

JPMorgan Posts Better-Than-Expected $2.1B Profit

Or JPMorgan Posts $2.1B Profits, Beats Expectations

(Newser) - JPMorgan Chase earned $2.14 billion in the first quarter, it said today, thanks to a boost in trading activity and deposits. The profit was 10% lower than last year, but better than expected, boosting hopes for a turnaround. Like other banks, JPMorgan is still seeing loan defaults increase—credit...

'09 Airline Losses Likely Worse Than Post-9/11

Companies to lose $4.7 billion in economic crisis

(Newser) - World airlines will lose $4.7 billion this year, and revenues will plummet $62 billion—worse than after 9/11, a top industry association said. The grim estimate is almost twice what it was in December and reflects “the rapid deterioration of the global economic conditions,” said the International...

Newspaper-Less Future Nears in Some Cities

Closings presage a future without the local paper

(Newser) - With the Seattle Post-Intelligencer to print a final edition next week, it’s set to follow the path of Denver’s Rocky Mountain News, which closed two weeks ago, the New York Times reports; the Tucson Citizen will also likely close next week. A rival newspaper will remain in each...

Madoff Profiteers Scramble From Threat of Clawbacks

New York law allows those who lost money to reclaim from those who gained

(Newser) - The threat that authorities will seek to recoup profits reaped through their investments in Bernard Madoff’s Ponzi scheme have some investors hurrying to put those funds in hard-to-reach places, the Wall Street Journal reports, like homes, trusts or life-insurance policies. So-called “clawback” lawsuits could allow those who were...

Buffett Has Worst Year Ever
 Buffett Has Worst Year Ever 
Feb 28, 2009 10:11 AM CST

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...

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