corporate earnings

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To Understand Toshiba's $6B Nuclear Loss, Go South

Bloomberg looks at what's behind company's financial woes

(Newser) - The chairman of Japanese electronics and energy giant Toshiba resigned Tuesday after the company logged such massive losses—a projected $6.3 billion—in its nuclear business that it must sell its lucrative computer-chip business to avoid going belly-up. Well, maybe $6.3 billion. Reuters reports that a day of... More »

CEO Salary Bigger Than Tax Bill at 7 Top Companies

Some of top 30 firms got more from feds than they paid

(Newser) - Two Washington think tanks have some jarring figures in a report outlining the case for corporate tax reform: Seven of the top 30 US firms pay more to their CEOs than they pay in federal income tax, according to the Institute for Policy Studies and the Center for Effective Government... More »

Target Hack's Price: 46% Drop in Profit

Q4 sales dropped due to scared customers

(Newser) - Target's massive data breach wasn't just a PR disaster for the company, it was a financial one, too. Target announced its earnings today, and blamed the breach for knocking its Q4 profit down 46%. It also said that its sales fell 5.3%, as the breach scared off... More »

Mobile Ads Help Facebook Beat Expectations

Membership now at 1.11B

(Newser) - Good news for Facebook on earnings report day: Net income and revenue grew in the first quarter of the year, helped by an increase in mobile ad revenue—a figure that some skeptical investors have been watching closely. The company said its net income was $219 million, up from $205... More »

Goldman Profit Almost Triples

Most of the profit came on its own holdings

(Newser) - Goldman Sachs' earnings almost tripled in the fourth quarter, handily beating analysts' estimates, as investment banking revenues surged. The Wall Street titan earned $2.83 billion after paying preferred dividends, compared with $978 million a year earlier. The bank's debt underwriting business profited from a rally in bonds and... More »

Nintendo Will Lose Money on Every Wii U Sold

Company joins Sony, Microsoft in giving up some profit

(Newser) - Nintendo will be selling its upcoming Wii U console at a loss, the company revealed yesterday, as it cut its profit forecast. Nintendo is expecting the move to pay off in the long run, through sales of additional hardware, and future cuts in its production costs, the BBC explains. "... More »

Apple's Samsung Apology Mocks 'Not as Cool' Tablet

Uses judge's own words in public posting

(Newser) - Remember when Apple was ordered to post an embarrassing mea culpa on its UK website, proclaiming publicly that Samsung didn't copy the iPad? Well, Apple has complied —and in the court-ordered 14-point font —but with a distinct lack of contrition, quoting extensively from the judge's ruling... More »

Barclays Execs Under Another Investigation

And bank set aside hundreds of millions for misselling derivatives

(Newser) - Barclays raised a whole bunch of eyebrows when it released its earnings today—and in the process revealed, among other things, that current and former senior executives were under an investigation totally unrelated to the Libor. UK regulators are looking into whether the bank sufficiently disclosed details of the $11.... More »

Facebook Beats Estimates in First Earnings

Though company lost $157M overall

(Newser) - Facebook reported its first quarterly earnings since going public today, and though the company lost $157 million, or 8 cents per share, it performed better than analysts were expecting, Bloomberg reports. Facebook's total revenues rose to $1.18 billion on strong advertising sales, meaning that if not for "... More »

JPMorgan Trading Loss Worse Than Expected, But...

...It barely dented the firm's Q2 profits

(Newser) - JPMorgan reported a $4.4 billion trading loss this morning, a figure far worse than analysts were expecting, in the wake of the "London Whale" fiasco. That drove the bank's earnings down 8.7%, but still left it with $4.96 billion in profit for the second quarter,... More »

How RIM Killed the BlackBerry

Co-CEOs, resistance to innovation hurt company

(Newser) - Research in Motion is announcing its earnings today, and they're "going to be terrible with a scoop of worse for August," an analyst tells CNET . How did things get so bad for the BlackBerry maker? It started at the top, the Wall Street Journal says in a... More »

Great, Now the Private Sector's Tanking, Too

Signs of life in consumer spending might help recovery, say economists

(Newser) - The private sector has been the lone strength in the US economy since 2009, with business investment and corporate earnings leading the underwhelming recovery. Until now, that is. As the dollar strengthens and economies around the world are slowing, the private sector appears headed for a tough patch, writes Paul... More »

Guess How Much Facebook Makes Off You?

A little less than 5 bucks, according to their latest earnings

(Newser) - Ever wonder how much money you're worth to Facebook? Earlier we reported that the social network supreme had a really lousy quarter , but Tech Crunch dug deeper into the numbers and did this interesting bit of math: Facebook reported having 901 million users and $1.058 billion in revenue.... 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 »

VW Reports Record Profit

Net earnings more than double

(Newser) - Volkswagen reported a record annual profit today, as its net income more than doubled last year. The company sold 8 million vehicles for the first time in its 75-year history, the New York Times reports. While its full report won't be out until March 12, initial numbers released today... More »

Chrysler Roars to $225M Profit

Finishes first profitable year since its bankruptcy

(Newser) - Call it a comeback if you want, because it looks like Chrysler is finally back on its feet. Detroit's smallest automaker posted a $225 million profit today to complete its first profitable year since its bankruptcy and bailout in 2009, the New York Times reports. The profit came on... More »

Apple Earnings Soar on Huge iPhone Sales

Company sells 37M as earnings double

(Newser) - Apple's first quarter since the death of Steve Jobs went very, very well: The company reported that net income doubled to a record $13.1 billion from the same period last year, reports MarketWatch . That translates to $13.87 per share, beating by a mile analysts' estimates of about... More »

Rare Miss for Apple: Q4 Earnings Disappoint

Net income is up, but short of analyst expectations

(Newser) - Apple failed to set a sales record in the last three months of founder and CEO Steve Jobs' life. Its financial results came in below expectations—a rare miss for the company. After several record quarters, the July-to-September period saw Apple biding its time, with no new iPhone or iPad... More »

Goldman Posts $428M Loss

It's the second time it's ever lost money as a public company

(Newser) - It was a bad three months to be a vampire squid: Goldman Sachs reported a $428 million third-quarter loss today, or 84 cents a share—far worse than the 16 cents per share that analysts were expecting, according to Reuters . The blow came largely thanks to $2.48 billion in... More »

Apple Profit Shoots Up 125%

...and that's without any new product launches

(Newser) - Apple shocked analysts yesterday by posting a whopping 125% leap in its fiscal third-quarter profits—a feat it achieved without releasing any major new products in the past six months. And with a number of new products scheduled for the second half of 2011, this could be just the tip... More »

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