earnings reports

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Caterpillar to Slash 20K Jobs
 Caterpillar to Slash 20K Jobs 
Jan 26, 2009 7:50 AM CST

Caterpillar to Slash 20K Jobs

Don't they know Obama wants to heap money on infrastructure?

(Newser) - Caterpillar Inc will cut 20,000 jobs—or 18% of its workforce—after posting a 32% drop in fourth-quarter income, the Wall Street Journal reports. “We were whipsawed in the fourth quarter,” said CEO Jim Owens. “Key industries were hit by a rapidly deteriorating global economy.”...

Google's Profit Drops, But Still Beats Forecasts

$382M is off 68% from Q4 of '07; search giants looks to have restrained spending

(Newser) - Quarterly profit at Google fell for the first time, although the performance was better than analysts anticipated. Google made $382 million, or $1.21 per share, in the three months ending in December—a 68% drop from the same period in 2007. The results indicated the company was able to...

Microsoft to Ax 5K Jobs
 Microsoft to Ax 5K Jobs 
Jan 22, 2009 9:20 AM CST

Microsoft to Ax 5K Jobs

(Newser) - Microsoft surprised the street today by releasing its earnings early, and they weren’t pretty. The software giant’s revenues inched up only 2%, below earlier guidance, and its net income dropped 11%. More alarming, the company said it was slashing 5,000 jobs, starting with 1,400 today, which...

Citi Posts $8.3B Loss, Prepares to Split in Two

Still smarting from bad mortgage bets, the company will split to remain solvent

(Newser) - Citigroup lost $8.29 billion in the fourth quarter—twice as much as expected—as the credit crisis continues to batter big banks, Bloomberg reports. The bank suffered a net loss of $1.72 per share, falling far short of analysts’ estimates. Citigroup, which lost 77 percent of its trading...

Stocks Drop on Citi, Retail Woes
 Stocks Drop on Citi,
 Retail Woes 
MARKET Open
Nov 17, 2008 8:49 AM CST

Stocks Drop on Citi, Retail Woes

(Newser) - Stocks slid at the open, as Citigroup slashed jobs and retailers reported yet more disappointing results. The Dow lost 160 points, while the S&P and Nasdaq dropped 1.8% and 1.5% respectively. Among the big drops were Target and Lowe’s, which each took a 24% hit to...

Stocks Drop on Retail, Auto Woes
 Stocks Drop 
 on Retail, Auto Woes 
MARKET Open
Nov 12, 2008 8:49 AM CST

Stocks Drop on Retail, Auto Woes

Dow drops, Best Buy disappoints, Detroit begs

(Newser) - Stocks headed south at the open today, as traders worried over a weak holiday season and the crashing auto industry. The Dow fell 166 points, while the S&P and Nasdaq shed 1.9% and 1.5% respectively. The latest sign of a retail apocalypse came from Best Buy, which...

GM Loses $4.2B, Has Little Cash
 GM Loses $4.2B, Has Little Cash 
Nov 7, 2008 11:30 AM CST

GM Loses $4.2B, Has Little Cash

Talks with Chrysler dead

(Newser) - General Motors is almost out of money, the company said today, reporting a quarter far worse than Wall Street was prepared for. The nation’s largest automaker lost $4.2 billion, or $7.35 a share, excluding special items, nearly double the $3.70-per-share analysts expected. After burning through $6....

Ford Loses $2.98B, Cuts Jobs
 Ford Loses $2.98B, Cuts Jobs 
Nov 7, 2008 7:41 AM CST

Ford Loses $2.98B, Cuts Jobs

Automaker narrows losses, but results much worse than expected

(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....

Exxon Mobil Shatters Own Record With $14B Profit

Company earned $14.8B last quarter

(Newser) - 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...

Sony Profits Plunge 72% on Strong Yen, Slow Exports

Japanese Electronics maker sees profits tumble 72% for quarter

(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.

Dow Sinks 514 on Bad Earnings
 Dow Sinks 514 on Bad Earnings 
MARKETS
Oct 22, 2008 3:32 PM CDT

Dow Sinks 514 on Bad Earnings

Third-quarter reports detail suffering across the board

(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...

Apple's Profit Jumps 26% as iPhone Sales Boom

(Newser) - 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.

Southwest Loses $120M on Bad Oil Bet
 Southwest 
 Loses $120M 
 on Bad Oil Bet 
EARNINGS REPORTS
Oct 16, 2008 7:36 AM CDT

Southwest Loses $120M on Bad Oil Bet

Otherwise, quarter beat expectations

(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 steep...

Morgan Stanley Profit Dips, But Easily Beats Forecasts
Morgan Stanley Profit Dips, But Easily Beats Forecasts
EARNINGS REPORT
Sep 16, 2008 5:40 PM CDT

Morgan Stanley Profit Dips, But Easily Beats Forecasts

(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...

Goldman Profit Drops 70%, Still Beats Estimates
 Goldman Profit Drops 70%, 
 Still Beats Estimates
EARNINGS REPORTS
Sep 16, 2008 8:37 AM CDT

Goldman Profit Drops 70%, Still Beats Estimates

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

(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...

Wal-Mart Profits Surge 17%
 Wal-Mart Profits Surge 17%
EARNINGS REPORT
Aug 14, 2008 7:57 AM CDT

Wal-Mart Profits Surge 17%

Retailers ups its outloo for the year after another strong quarter

(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...

GM Loses $15.5B, Stuns Street
 GM Loses $15.5B, Stuns Street 
Earnings
Aug 1, 2008 8:20 AM CDT

GM Loses $15.5B, Stuns Street

$27.33 per-share loss much worse than analysts predicted

(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...

Exxon Reports Best Quarter in History; Misses Estimates

(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,...

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

6th straight quarterly loss for troubled telecom giant

(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...

Honda Profits Jump 8% on Fuel-Efficient Lineup
Honda Profits Jump 8%
on Fuel-Efficient Lineup
earnings
Jul 25, 2008 7:33 AM CDT

Honda Profits Jump 8% on Fuel-Efficient Lineup

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

(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...

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