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BUSINESS
August 9, 2011 | By Alex Pham, Los Angeles Times
Bolstered by reviving concert attendance, Live Nation Entertainment Inc. posted a 23% jump in revenue and reversed a year-earlier loss. The world's largest concert promoter, which merged a year ago with Ticketmaster, benefited from rising attendance at its events such as a tour by the band U2, as well as higher spending by concertgoers on concessions, parking and other high-margin products. The report appears to bode well for the overall concert business, which slumped last year as consumers, spooked by the wobbly economy, pared down discretionary spending.
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BUSINESS
April 17, 2012 | By Shan Li, Los Angeles Times
Toy giant Mattel Inc.reported a 53% decline in profit in the first quarter, sending its stock down more than 9%, after higher production costs, slower sales of Barbie and Hot Wheels and a recent acquisition affected its bottom line. For the three months ended March 31, sales totaled $928.4 million, down 2% compared with $951.9 million in the same quarter last year, the company said Monday. Profit dropped to $7.8 million, or 2 cents a share, from $16.6 million, or 5 cents. The results fell below analyst expectations of a profit of 7 cents a share.
AUTOS
February 14, 2013 | By Jerry Hirsch
General Motors Co. profits grew substantially in the fourth quarter, but for all of 2012, the company made less money than it did the year before. GM said its fourth-quarter profit grew 89% to $892 million from the same period a year earlier. For the entire year, profits sank 36% to $4.9 billion as earnings in North America leveled and losses in recession-plagued Europe mounted. Sales rose to $39.3 billion in the fourth quarter, up from $38 billion in the same period a year earlier.
BUSINESS
May 1, 2012 | By Tiffany Hsu
DineEquity Inc., the Glendale-based owner of IHOP Restaurants and Applebee's Neighborhood Grill & Bar, is making a heavy push toward franchising. More than 95% of the company's thousands of restaurants are now owned by entrepreneurs, DineEquity said Tuesday when it announced its first quarter earnings . The franchise model helps keep the company's balance sheet from wild swings, leading to a 5.5% boost in profit to $31.3 million, or $1.64 a share, from $29.7 million, or $1.53 a share during the same quarter a year earlier.
ENTERTAINMENT
September 17, 1994
Dear Oliver Stone: If you profit from your new film, "Natural Born Killers," are you not that which you criticize? JULIE VETTER Santa Monica
BUSINESS
March 2, 2012 | By Tiffany Hsu, Los Angeles Times
DineEquity Inc., the Glendale-based owner of the Applebee's and IHOP restaurant chains, had a strong fourth quarter after suffering a severe slump a year earlier. Several factors helped the recovery, including the company's increase in franchising, warmer weather that drew out more diners and remodeling efforts that have freshened up hundreds of Applebee's locations. Profit for the quarter that ended Dec. 31 jumped to $27.3 million, or $1.51 cents a share, compared with a loss of $58.1 million, or $3.33 cents a share, from the fourth quarter of 2010.
BUSINESS
August 2, 2012 | By Jerry Hirsch
General Motors Co. profits fell 41% as the automaker piled up losses in Europe and earned less money in the U.S. GM said it earned $1.5 billion in the second quarter, down from $2.5 billion in the same period a year earlier. Revenue dipped 4% to $37.6 billion. The company attributed the decline to strengthening of the U.S. dollar against other currencies. "Our results in North America, our international operations and at GM Financial were solid but we clearly have more work to do to offset the headwinds we face, especially in regions like Europe and South America," said Dan Akerson, GM's chief executive.
BUSINESS
November 8, 2012 | Bloomberg News
Activision Blizzard Inc., the largest U.S. video-game maker, posted third-quarter profit that beat analysts' estimates on gains from its "Skylanders" and "Diablo" titles. Net income rose 53% to $226 million, or 20 cents a share, from $148 million, or 13 cents, a year earlier, the Santa Monica company said Wednesday. Excluding items, profit of 15 cents beat the 8-cent average of 24 analyst estimates compiled by Bloomberg. Its "World of Warcraft: Mists of Pandaria" game helped the company gain about 1 million online subscribers in the quarter, and its "Skylanders Spyro's Adventures" generated the most revenue of any console game, including accessories such as action figures, the company said.
NEWS
May 4, 2012 | Bloomberg News
LinkedIn Corp., the biggest professional-networking website, rose to the highest price since its market debut after reporting first-quarter sales and profit that beat analysts' estimates amid a jump in membership. LinkedIn advanced 8.9% to $118.88 at 6:50 a.m., the highest level since it listed on the New York Stock Exchange in May 2011. The shares have more than doubled since then. LinkedIn said membership increased to 161 million from 150 million in the fourth quarter. Chief Executive Jeff Weiner is pushing mobile technology to woo more professionals to its subscription services and attract advertisers who want to reach the growing user base.
BUSINESS
January 18, 2013 | By Andrew Tangel
Morgan Stanley 's big push into wealth management seems to be paying off. The New York investment bank, which has been cutting costs as it has struggled to boost earnings, returned to profitability in the fourth quarter. Morgan Stanley reported $507 million in profit, compared to a loss of $250 million the same period in 2011. Profits from its wealth management and institutional securities divisions surged. Morgan Stanley's profit beat Wall Street estimates, and its stock surged in pre-market trading on Wall Street.
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