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FRIDAY, NOVEMBER 27, 2009
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NEWS ABOUT: earnings reports

earnings reports stories: 115 news summaries

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 Ford Loses $2.98B, Cuts Jobs 

Automaker narrows losses, but results much worse than expected

Nov 7, 08 7:41 AM CST
(Newser) - Ford Motor Company’s sales plunged 22% in the third quarter, the company said today, as the struggling economy eviscerated demand. The company lost $2.98 billion, or $1.31 a share, far worse than the 93 cents-per-share analysts expected, while burning through $7.7 billion in cash, Bloomberg reports.... More »

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Detroit • earnings reports • Ford • auto industry • third quarter earnings • job cuts

 Exxon Mobil 
 Shatters Own  
 Record With 
 $14B Profit

Company earned $14.8B last quarter

Oct 30, 08 8:25 AM CDT
(AP) - Exxon Mobil breezed by its own record for the biggest quarterly profit for a US corporation, earning $14.83 billion in the third quarter. Bolstered by this summer's record crude prices, net income jumped nearly 58%, or $2.86 a share, for the world's largest publicly traded oil company. Exxon... More »

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stock market • Wall Street • earnings reports • profit growth • quarterly profits • oil companies • Exxon Mobil

Sony Profits Plunge 72% on Strong Yen, Slow Exports

Japanese Electronics maker sees profits tumble 72% for quarter

Oct 29, 08 8:27 AM CDT
(Newser) - A strengthening yen and declining demand—especially from the US—for consumer electronics provided a one-two punch that knocked Sony profits down 72% for the third quarter, reports the New York Times. Sony shares slid to a 16-year low on Monday, and are down 67% for the year. More »

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earnings reports • Sony • yen • Canon • consumer electronics • financial crisis

MARKETS

 Dow Sinks 514 on Bad Earnings 

Third-quarter reports detail suffering across the board

Oct 22, 08 3:32 PM CDT
(Newser) - Stocks continued yesterday’s decline amid a wave of poor earnings reports across the board, the Wall Street Journal reports. The Dow, down at one point nearly 700 points in the final hour, fell 514.45 to close at 8,519.21. The Nasdaq shed 80.93 points, closing at... More »

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Merck • Boeing • Dow Jones • earnings reports • Nasdaq • third quarter earnings • S&P 500 • AT&T

(AP) - Apple Inc. said its profit jumped 26% in its fiscal fourth quarter as the newest iPhone outsold the market-leading BlackBerry. Despite the blockbuster performance, which sent Apple's shares soaring in after-hours trading, the company issued what it called "prudent" predictions for the current quarter because of broader economic uncertainty. More »

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Steve Jobs • iPhone • Apple • earnings reports

EARNINGS REPORTS

 Southwest 
 Loses $120M 
 on Bad Oil Bet 

Otherwise, quarter beat expectations

Oct 16, 08 7:36 AM CDT
(Newser) - Southwest Airlines posted a $120-million third-quarter loss today, due almost entirely to a one-time $247-million charge on an oil bet gone wrong, the New York Times reports. Southwest aggressively locks in its fuel costs far in advance, which looked brilliant last year, as oil prices skyrocketed. But oil’s... More »

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airline industry • earnings reports • corporate earnings • Southwest Airlines • third quarter earnings • oil prices

EARNINGS REPORT

Morgan Stanley Profit Dips, But Easily Beats Forecasts


Sep 16, 08 5:40 PM CDT
(Newser) - Morgan Stanley reported a 3% percent drop in third-quarter earnings but easily beat Wall Street expectations, Bloomberg reports. The investment bank's profit fell to $1.43 billion, or $1.32 per share from $1.47 billion, or $1.38, a year ago. Analysts expected 78 cents a share. The relatively... More »

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Wall Street • Morgan Stanley • earnings reports • financial markets • third quarter earnings • meltdown

EARNINGS REPORTS

 Goldman Profit Drops 70%, 
 Still Beats Estimates

Revenue cut by half, but firm helped by less mortgage exposure

Sep 16, 08 8:37 AM CDT
(Newser) - Amid the financial industry's meltdown, survivor Goldman Sachs reported that third-quarter profit plunged by 70% —the sharpest decline in its history as a public company, but still enough to beat estimates of $1.71 per share. The bank dipped 7% in New York trading, Bloomberg reports, after reporting an... More »

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Goldman Sachs • earnings reports • housing crisis • subprime crisis • investment banks • financial crisis

EARNINGS REPORT

 Wal-Mart Profits Surge 17%

Retailers ups its outloo for the year after another strong quarter

Aug 14, 08 7:57 AM CDT
(Newser) - Wal-Mart's second-quarter profits surged 17%, spurred by bargain-hunting shoppers and tax-rebate checks, reports Bloomberg. The world’s largest retailer also revised its full-year estimates upward, while cautioning that rising energy and food costs make the outlook more volatile from week to week. The company said its net income rose to... More »

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earnings reports • retail sales • tax rebate • Wal-Mart • earnings forecast

Earnings

 GM Loses $15.5B, Stuns Street 

$27.33 per-share loss much worse than analysts predicted

Aug 1, 08 8:20 AM CDT
(Newser) - General Motors stunned Wall Street today, reporting a $15.5-billion second-quarter loss—a figure far worse than anything analysts had predicted—as sales collapsed on the company's most profitable products, trucks and SUVs. Prognosticators had estimated the automaker would lose $2.62 per share, excluding items; instead the loss came... More »

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General Motors • earnings reports • second quarter earnings • auto industry

(Newser) - ExxonMobil reported the biggest quarterly profit in US history today, earning $11.68 billion or $2.22 a share as revenues rose 40% over the previous year. But those stratospheric numbers fell short of Wall Street’s estimates; analysts had expected crude prices, which have doubled over the past year,... More »

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ExxonMobil • earnings reports • second quarter earnings • oil prices

EARNINGS

Alcatel-Lucent CEO, Chair to Quit After 6th Straight Loss

6th straight quarterly loss for troubled telecom giant

Jul 29, 08 6:46 AM CDT
(Newser) - Patricia Russo, the CEO who led the merger of Alcatel-Lucent, will step down by the end of the year after the troubled telecom giant released yet another grim quarterly report, posting a net loss of $1.73 billion. That figure was much larger than analysts had predicted, and almost double... More »

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France • CEO • earnings reports • telecom • Patricia Russo • telecommunications • Alcatel Lucent

earnings

Honda Profits Jump 8%
on Fuel-Efficient Lineup

The gas tank is half empty, as the company cuts global outlook

Jul 25, 08 7:33 AM CDT
(Newser) - Honda announced an 8.1% gain in net profit yesterday for the quarter ending June 30, riding demand for its fuel-efficient models and beating analysts’ estimates, the Wall Street Journal reports. Honda has been hurt less by falling demand than rivals Toyota and Nissan because it's the least invested in... More »

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Toyota • fuel efficiency • earnings reports • Honda • Nissan • auto industry • Japanese auto industry

Earnings

Ford Posts $8.7B Loss,
Will Make Fewer Trucks 

Writedowns lead to ugly quarter

Jul 24, 08 9:08 AM CDT
(AP) - Ford Motor Co. lost $8.67 billion in the second quarter and will retool two more North American truck and SUV plants to build small, fuel-efficient vehicles, the company announced today. The net loss includes $8.03 billion in writedowns due to a decline in the value of its truck... More »

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earnings reports • Ford • second quarter earnings • auto industry • trucks • writedowns

Invisible Ink, Hidden Numbers Help Fuzzy Accounting

SEC complaint shows CFO used printouts to fool auditors

Jul 23, 08 5:59 PM CDT
(Newser) - Sometimes high-stakes fraud doesn’t have to be high-tech. The former chief financial officer at a company now called Voyager Learning allegedly cooked the company's books by entering figures as white text on white background—the equivalent of invisible ink, Adam Jones notes in a Financial Times blog. More »

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fraud • earnings reports • SEC • accounting • revenue • Microsoft Excel

MARKETS

 Stocks Rise as Oil Drops 

Price of barrel drops to $126, a 7-week low

Jul 22, 08 3:22 PM CDT
(Newser) - Stocks climbed to robust gains by the end of today’s session as a drop in oil helped offset a spread of mixed earning reports, MarketWatch reports. The Dow gained 135.16 points to close at 11,602.50, the Nasdaq rose 24.43 to 2,303.9, and the... More »

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oil • Dow Jones • Wachovia • earnings reports • American Express • Nasdaq • Caterpillar • DuPont • S&P 500

Earnings

Wachovia Posts $8.9B Loss Under New CEO

'Dismal' housecleaning quarter much worse than expected

Jul 22, 08 9:58 AM CDT
(Newser) - New Wachovia CEO Robert Steel moved aggressively to staunch the bank's losses by taking a massive $8.9-billion hit in the second quarter and slashing its dividend to almost nothing, the New York Times reports. Steel had every reason to clean house, but analysts had predicted only a 78... More »

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Wachovia • earnings reports • corporate earnings • second quarter earnings • Robert Steel • financial crisis

Bank of America Posts Slide but Beats Q2 Expectations

41% drop in net earnings still better than forecast; shares rise 9.3% pre-market

Jul 21, 08 7:33 AM CDT
(Newser) - Bank of America reported a 41% decrease in net income today, beating analyst expectations as writedowns shrank to $1.22 million in the second quarter from $2.81 billion a quarter earlier, reports the Wall Street Journal. The bank also said it expects to make money this year from... More »

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Bank of America • earnings reports • Countrywide • subprime crisis • Kenneth Lewis

Earnings

Citi Losses Shrink in 2nd Quarter, Beat Expectations

Rounds out week of better-than-expected results

Jul 18, 08 8:32 AM CDT
(Newser) - Citibank delighted shareholders today by losing a mere $2.5 billion in the second quarter, the Wall Street Journal reports. Analysts had expected much worse from the US’ biggest bank by assets, but Citi beat expectations by reducing writedowns and slashing jobs. The results should prove a counterweight to... More »

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earnings reports • Merrill Lynch • Wells Fargo • second quarter earnings • Citibank • JPMorgan Chase

Earnings

 Morgan Stanley Profits Fall 57%  

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

Jun 18, 08 8:00 AM CDT
(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... More »

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Morgan Stanley • earnings reports • bank • corporate earnings • investment banks

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