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NEWS ABOUT: corporate earnings

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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 ... More »

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... More »

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... More »

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... More »

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... More »

Morgan Stanley Beats Estimates With 42% Q1 Drop

No. 2 investment bank beats analysts, but earnings fall again

(Newser) - A day after posting its biggest gain on Wall Street in more than a decade—shares rose 18% to $42.86—securities firm Morgan Stanley today reported a second straight quarterly loss, as first quarter earnings fell 42% to $1.55 billion, from $2.67 billion a year ago, reports... More »

Dour Housing Market Slams Home Depot Q4 Results

Profits drop 27%, and the company says 2008 isn't looking very bright

(Newser) - Continuing US housing market woes, showing no signs of letting up, helped drag Home Depot’s fourth quarter profits down 27% over the same quarter last year, to $671 million from $925 million. The world’s largest home-improvement retailer also predicted fiscal-year earnings will drop 19% to 24%, more than... More »

SocGen Posts Record $4.9B Q4 Loss

Subprime writedowns and fraud drop bank's annual profit 82%

(Newser) - Societe Generale's annual profits plummeted a whopping 82% after a record $4.9 billion fourth quarter loss fueled by subprime woes and the actions of rogue trader Jerome Kerviel, reports Bloomberg. France’s second-largest bank today said net income was 947 million euros, compared to 5.22 billion euros in... More »

Credit Suisse Cuts Profits $1B on Trader Errors

Trader 'error' prompts bank to take $2.85B writedown; shares plummet

(Newser) - Credit Suisse share prices plummeted 10% today after the bank announced that some traders had overvalued asset-backed securities, prompting the bank to take a $2.85 billion writedown and drop first-quarter profit projections by $1 billion, Bloomberg reports. Switzerland’s second-largest bank suspended the traders and said it would review... More »

Comcast Kills Payout Plan for Founder

Shareholder angst leads cable giant to drop multi-million-dollar benefit package

(Newser) - Responding to shareholder complaints, the 87-year-old founder of Cable giant Comcast will cut his annual salary to $1 and the company will scrap a multi-million-dollar death benefit negotiated in December that would have paid heirs his salary for five years, the Wall Street Journal reports. Ralph Roberts, father of CEO... More »

UBS Posts Record $11.2B Quarterly Loss

Swiss bank also posts its first annual loss on $13.7B subprime writedowns

(Newser) - Swiss banking giant UBS today reported an $11.23-billion fourth-quarter loss—the largest ever by a bank—and its first full-year loss ever, after taking $13.7 billion more in subprime mortgage writedowns, reports the Telegraph. UBS, which still has a $27.59-billion exposure to subprime securities, is likely to... More »

Activision Earnings Rocket 90%

Video games 'Guitar Hero' and 'Call of Duty 4' drive company's growth

(Newser) - Gamers who love Activision for Call of Duty and Guitar Hero have some company on Wall Street today after the company reported a 90% earnings surge and an 80% bump in sales for the quarter ending Dec. 31, reports MarketWatch. The company reported net income of $272.2 million, up... More »

Shell Profits Spike to a Record $27.6B

Critics say the oil giant's earnings are 'obscene' and want a windfall tax

(Newser) - Soaring crude prices and new oil and gas projects drove Royal Dutch Shell to 2007 profits of $27.6 billion—a new record for a British corporation—despite declining production. While critics branded the results “obscene” and called for a windfall tax, Shell’s CEO called them “satisfactory”... More »

Subprime Woes Cost UBS Record $4B Loss

The Swiss bank adds to its write downs; more bad news could be coming

(Newser) - Hit hard by the subprime mortgage crisis, UBS AG announced it will write down an additional $4 billion in bad investments and post a $4.03 billion loss for 2007, a record for the company and significantly more than the Swiss banking giant predicted in December, reports the Wall Street ... More »

Verizon Q4 Profits Ride Wireless Gains

Cell phones, Internet continue to shine as landlines decline

(Newser) - Verizon Communications, riding a wave of wireless and Internet growth, yesterday announced net income rose to $1.07 billion for the fourth quarter, up nearly 4% from $1.03 billion a year ago, reports the New York Times. Verizon Wireless, second to AT&T in the US, added some 2... More »

Ford Trims Q4 Loss to $2.75B; Plans Job Cuts

Eying weak economy ahead, will offer new round of buyouts

(Newser) - Ford Motor Co. said job cuts and plant closings helped slash its fourth quarter losses to $2.75 billion, Bloomberg reports, less than half of what they were a year ago. But, adds  the Wall Street Journal, the company plans to reduce its workforce by at least another 13,000... More »

Motorola Profit Plummets 84% in Q4

Mobile-phone maker loses market share to Apple, Samsung

(Newser) - Motorola, blaming loss of market share to Apple and Samsung, today reported a fourth-quarter profit plunge of 84%. The nation’s largest mobile-phone maker said phone shipments fell 38%, and sales fell 18.2%. Reviving its ailing cellphone unit will take longer than expected, Motorola said, forecasting a loss next... More »

Strong Overseas Growth Buoys IBM Sales

Despite a lagging US economy, there's hope for multinational tech firms overseas

(Newser) - IBM, already weathering the economic storm that’s bedeviled many other major US companies, said sales overseas, especially in Europe and developing nations, would help it overcome trying economic conditions at home in 2008, reports the Wall Street Journal. The computer services giant said it expects annual per share earnings... More »

Merrill: $9.8B Loss on $11.5B Writedown

Brokerage's first-ever full-year loss blamed on subprime woes

(Newser) - Merrill Lynch reported a fourth-quarter loss of  $9.8 billion, or $12.01 a share, nearly triple the per-share loss most analysts predicted, reports Bloomberg. It was the second straight losing quarter for the nation’s largest broker, and capped the company’s first full-year loss since 1989. Merrill said... More »

Intel Profits Jump 51%, But Slowdown Seen

Chipmaker cautious on 2008 as global PC market cools

(Newser) - Intel's net income leaped 51% in the fourth quarter—the No. 1 chipmaker's largest increase in 14 quarters—to $2.27 billion. But the glow was dimmed by what looks to be a cooling PC  market, leading to lower projections for 2008, and sending Intel’s share price down 14%... More »

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