January 20, 2012 |
General Electric Co.'s fourth-quarter profit topped estimates after the conglomerate's industrial order backlog rose to a record $200 billion. Profit from continuing operations of 39 cents a share, excluding some items, compared with the 38-cent average estimate from analysts surveyed by Bloomberg, GE said Thursday. Revenue dropped 8%, including the sale of GE's NBCUniversal stake, to $38 billion, lower than the average analyst estimate of $40 billion. Sales were trimmed by about $1 billion because the fourth quarter had six fewer operating days than the year-earlier period, GE said.
October 5, 2011 |
Costco Wholesale Corp., the largest U.S. warehouse-club chain, increased membership fees 10 percent after rising costs hurt profit margins in the fourth quarter. Costco will boost annual membership fees to $55 from $50 effective Nov. 1 for U.S. Goldstar or individual members, as well as business and Canada Business members, the retailer said today in a statement. U.S. and Canada executive fees will rise to $110 from $100. The increases will affect about 22 million members, half of them in the executive program, Costco said.
July 30, 2010 |
Standard Pacific Corp. posted second-quarter earnings of $10.7 million, or four cents a share, the Irvine homebuilder said Thursday. Homebuilding revenue jumped as the average price of homes sold increased, and the company reduced the number of its costly land sales in the quarter ended June 30, helping it rebound from a loss of $23.1 million, or 10 cents a share, in the same period last year. Standard Pacific also said it had increased the number of its approved land purchases, signaling optimism about the future.
August 20, 2012 |
Home improvement chain Lowe's Cos. reported that profit dropped 10% in the second quarter because of weak sales and competition from rivals. For the three months ended Aug. 3, the retailer reported net income of $747 million, or 64 cents a share, compared with $830 million, or flat earnings per share, in the same period a year ago. Sales sank 2%, to $14.2 billion from $14.5 billion. "Our results fell short of our overall expectations," said Lowe's Chief Executive Robert A. Niblock in a Monday statement.
February 12, 2010 |
Cost-cutting and robust holiday-season sales of "Transformers: Revenge of the Fallen" and "Star Trek" DVDs propelled Viacom Inc. to a fourfold increase in fourth-quarter profit. Viacom reported Thursday that it earned $694 million, or $1.14 a share, compared with $172 million, or 28 cents, a year earlier. The jump in earnings was, in large part, because of a $454-million restructuring charge taken in the period in 2008. Revenue, however, fell 3% to $4.1 billion for the quarter, reflecting continued weakness in the TV advertising market.
July 31, 2010 |
Chevron Corp. continued what has been a very big week for most of the world's super-sized oil companies, shattering analyst expectations and tripling its second-quarter profit to $5.4 billion compared with a year earlier. The industry's pumped-up profit provides a fresh target for public anguish over the Gulf of Mexico oil spill, which has fouled beaches in five states since the deadly April 20 explosion of a rig drilling a well for London oil giant BP. "They are thriving when a lot of families are out there suffering," said Tyson Slocum, director of Public Citizen's energy program.