February 19, 2014 |
Shares of Tesla Motors Inc. soared Wednesday after the electric car company slashed its losses and issued an upbeat outlook for this year. Tesla shares jumped to a record $216.95, a 12% gain, after the automaker released its fourth-quarter and annual financial results after the stock market closed. Investors focused on Tesla's calculation that it earned $46 million, or 33 cents a share, in the latest quarter, after making special adjustments to account for the deferred profit from automotive leases and other factors.
CALIFORNIA | LOCAL
February 7, 2014 |
Construction costs and revenue estimates for the California bullet train are headed downward while operating costs and ridership for the proposed statewide system are expected to increase above earlier forecasts, according to the project's latest business plan unveiled Friday. The draft plan summarizes the work of the California High-Speed Rail Authority during the past two years, contains revisions of ridership and cost estimates made in the 2012 business plan and describes the project's future goals, including the possibility of attracting private sector partners.
February 5, 2014 |
CBRE Group Inc., the world's largest commercial real estate brokerage, reported an 11% jump in revenue during the fourth quarter, led in part by thriving property markets in Europe, the Middle East and Africa. Profit was down from the same period in 2012, however, as the Los Angeles company wrote down $106.6 million primarily on the decreased value of its investment pools in Europe Southern California's housing recovery Fourth-quarter net income was $114.6 million, or 34 cents a share, down from $173 million, or 53 cents, a year earlier.
February 5, 2014 |
Twitter reported its first earnings as a publicly traded company on Wednesday afternoon and soundly beat expectations. The San Francisco company reported a loss of $511 million for the fourth quarter. Revenue totaled $243 million, up 116% from $112 million in the same quarter a year earlier. Wall Street had expected revenue of about $218 million. "Twitter finished a great year with our strongest financial quarter to date," Chief Executive Dick Costolo said. "We are the only platform that is public, real-time, conversational and widely distributed and I'm excited by the number of initiatives we have underway to further build upon the Twitter experience.
January 31, 2014 |
If there was a winner among the piles of gifts given to children this Christmas, Barbie certainly wasn't it. The fashion doll - possibly the best-known player in Mattel Inc.'s stable of products - endured a 13% sales slide during the company's fourth quarter. "We just didn't sell enough Barbie dolls," Mattel Chief Executive Bryan G. Stockton said Friday in a conference call with analysts. Several other brands from the El Segundo toy maker also fared poorly. Fisher-Price, whose lineup focuses on infants and young children, also suffered a 13% revenue plunge.
January 30, 2014 |
SAN FRANCISCO -- Thanks to a boost in advertising sales, Google's fourth-quarter revenue surpassed Wall Street expectations, but its bottom line fell short. Google reported earnings, excluding certain items, of $12.01 a share on revenue of $16.86 billion. Analysts had expected earnings of $12.20 a share on revenue of $16.75 billion. The results came one day after Google said it would sell its Motorola Mobility business to Lenovo for $2.9 billion. And good thing, too. Motorola lost $384 million in the quarter.