corporate earnings

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Morgan Stanley Beats Estimates With 42% Q1 Drop
Morgan Stanley Beats Estimates With 42% Q1 Drop
Earnings Report
Mar 19, 2008 7:53 AM CDT

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...

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...

SocGen Posts Record $4.9B Q4 Loss
SocGen Posts Record $4.9B Q4 Loss
Feb 21, 2008 9:54 AM CST

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...

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...

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...

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...

Activision Earnings Rocket 90%
Activision Earnings Rocket  90%
Feb 8, 2008 11:18 AM CST

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...

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”...

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 ...

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...

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...

Motorola Profit Plummets 84% in Q4
Motorola Profit Plummets
84% in Q4
Jan 23, 2008 7:25 AM CST

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...

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...

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...

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%...

JP Morgan Profit Drops 34% in Q4
JP Morgan Profit Drops 34% in Q4
Jan 16, 2008 7:03 AM CST

JP Morgan Profit Drops 34% in Q4

$1.3B in subprime writedowns hit earnings at third-largest bank

(Newser) - Subprime mortgage writedowns of $1.3 billion cut deeply into better-than-expected revenue gains at JP Morgan Chase in the fourth quarter, leaving the nation’s third-largest bank with net income of $2.97 billion, or 86 cents per share, a 34% drop from a year ago, reports Bloomberg. The writedown...

Citi Takes $9.83B Loss, $18B in Writedowns

Record Q4 loss offset by $14.5B cash infusion from Singapore, Kuwait

(Newser) - Citigroup announced $18 billion in writedowns and a $9.83-billion fourth-quarter loss today as a relentless torrent of mortgage defaults has brought the banking giant to its knees. The $1.99-per-share loss is the largest in Citi’s 196-year history, Bloomberg reports. Citi, struggling to recapitalize, also reported US and...

IBM Tops Q4 Expectations by $1B
IBM Tops Q4 Expectations by $1B
Jan 14, 2008 10:20 AM CST

IBM Tops Q4 Expectations by $1B

Strong sales to developing markets send Big Blue stock soaring

(Newser) - IBM shares soared after the company released preliminary quarterly earnings today that beat Wall Street’s predictions by $1 billion, reports Bloomberg. Shares popped 8% in early trading after the company said “strong operational performance in Asia, Europe, and emerging countries” helped it to a 24% bump in earnings...

UnitedHealth's Ex-CEO Will Pay Back $620M

Ousted Maguire settles claims over backdating stock options

(Newser) - UnitedHealth's ex-CEO will surrender another $420 million in stock options and retirement pay to settle claims in a scandal over stock-option backdating. William McGuire already had forfeited $200 million to UnitedHealth when he was ousted last year, the Wall Street Journal reports, making his giveback one of the largest in...

Investors Worry Dell's Road to Recovery is Too Rocky

Quarterly earnings announcement prompts big Wall Street selloff

(Newser) - Computer-maker Dell’s rollercoaster ride isn’t over and it’s left investors woozy. Despite increasing net income 27% in third quarter earnings released yesterday, Dell shares slipped nearly 10% in after hours trading, giving back nearly everything the stock gained leading up to the report and underlining CEO Michael...

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