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ENTERTAINMENT
August 3, 2012 | By Ben Fritz
With only three new movies in theaters during the second quarter -- one a 3-D re-release and another released on behalf of a separate company -- Paramount Pictures revenue plunged 29% to $1 billion. Thanks to sharply lower expenses, however, the studio's operating income dropped only 6% to $29 million, according to financial results released by parent company Viacom Inc. on Friday. Among Paramount's releases in the three-month period ended June 30, "Titanic 3-D" was a huge hit, grossing $343.6 million worldwide, which was split between the L.A. studio and partner 20th Century Fox. "Madagascar 3: Europe's Most Wanted" has taken in a strong $501 million so far, though Paramount keeps just 8% of revenue from the DreamWorks Animation release.
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BUSINESS
April 28, 2014
The company: PCM Inc. Headquarters: El Segundo Ticker: PCMI Employees: 2,837 Leadership: Frank F. Khulusi, co-founder and chief executive since 1987 2013 revenue: $1.4 billion 2013 net income: $8.1 million Stock price: $9.91 at Friday's close 52-week range: $7.21 to $11.96 P/E ratio: 14 Quarterly dividend: None
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ENTERTAINMENT
August 3, 2012 | By Meg James
Viacom Inc.'s profit fell short of Wall Street's expectations as the company continued to struggle with ratings declines at Nickelodeon and other cable networks while worldwide theatrical revenue took a nose dive. For the April-June period, the New York-based media company controlled by mogul Sumner Redstone generated net income of $534 million, or $1.01 a share, compared with $574 million, or 99 cents, for the year-earlier period.  Fiscal third-quarter revenue came in at $3.24 billion, a 14% decline from $3.77 billion in the prior year period.
CALIFORNIA | LOCAL
April 26, 2014 | By Louis Sahagun
The Los Angeles Zoo's new Rainforest of the Americas exhibit doesn't open until Tuesday, but it is already filled with commotion. Dwarf caimans and a giant bird-eating spider were exploring the creature comforts of their enclosures this week. Construction workers were inspecting thermostats and water pumps. The $19-million exhibit at the Los Angeles Zoo and Botanical Gardens is the last in a series of major projects built under Phase 1 of the 47-year-old facility's master plan.
BUSINESS
January 30, 2014 | By Jessica Guynn
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.
BUSINESS
January 28, 2013 | By Jessica Guynn
Marissa Mayer has put an end to a prolonged slump in Yahoo revenue. Fourth-quarter revenue rose 2% to $1.35 billion, Yahoo's first full-year revenue increase in three years. It was the first full quarter under new Chief Executive Mayer, who joined the tech giant from Google in mid-July. Mayer has sparked hopes that she can turn around the beleaguered company. The company's fourth-quarter net income declined 8% to $272 million, or 23 cents a share. The earnings would have been higher if not for one-time accounting charges.
ENTERTAINMENT
November 11, 2013 | By Meg James
Media mogul Rupert Murdoch's publishing company News Corp. swung to a profit in its fiscal first quarter -- its first financial reporting period as a stand-alone company -- but revenue slipped nearly 3%. News Corp. separated from the more profitable television and film assets, which became a separate company known as 21st Century Fox, on June 30.  Murdoch's publishing company faces long-term challenges as advertisers flock to online platforms, and as its vast stable of newspapers in Australia continues to get clobbered by a weak economy.
BUSINESS
December 9, 2009 | By Joe Flint
Time Warner Inc. wants more juice out of TMZ, the celebrity website that is the brainchild of former Los Angeles TV newsman Harvey Levin. The media giant hopes to wring more advertising revenue out of the property and use some of the money to expand the news operation, according to people close to the site who were not authorized to speak publicly. That's the plan once Time Warner takes full control of TMZ today, when the media giant spins off AOL to shareholders. Since its launch by former KCBS-TV Channel 2 reporter Levin in December 2005, TMZ has been run as a partnership of AOL and the Telepictures unit of Warner Bros.
ENTERTAINMENT
February 6, 2014 | By Meg James
Rupert Murdoch's publishing company, News Corp., beat analysts' profit estimates even though advertising revenue continued to fall. News Corp. -- which includes the Wall Street Journal, New York Post, Times of London and HarperCollins book publishing -- released its fiscal second-quarter earnings late Thursday. It was the second earnings report at the company since it became a stand-alone entity at the end of June. "Direct comparables are awkward because the company, in its present form, did not exist a year ago," News Corp.
BUSINESS
April 8, 2013 | By Meg James, Los Angeles Times
After years of devastating losses, the newspaper industry has a glimmer of good news. Circulation revenue for daily newspapers grew in 2012 for the first time in a decade as more people paid to subscribe to digital editions, according to data compiled by the Newspaper Assn. of America. The finding is noteworthy because it demonstrates that the newspaper industry, which has been hammered in recent years as consumers and advertisers migrated to the Internet, has begun to adapt its business model to a new era. Newspapers generated $10.4 billion in circulation revenue in 2012, a 5% increase over the previous year.
ENTERTAINMENT
April 23, 2014 | By Meg James
The NBC broadcast network, after trailing in the ratings for nearly a decade, could finish the TV season in first place among viewers prized by advertisers. Comcast Corp. executives Tuesday lauded the peacock network's performance, which helped power the Philadelphia cable giant's earnings for the quarter ended March 31. This season, NBC has increased its prime-time audience among viewers ages 18 to 49 - the audience that advertisers pay a premium to reach. "The Blacklist" with James Spader and the singing competition show "The Voice" have been reliable performers.
BUSINESS
April 23, 2014 | By Andrea Chang
Facebook crushed expectations with its first-quarter financial results. The world's biggest social network reported profit of $642 million for the three months ended March 31, nearly three times its profit of $219 million in the year-earlier period. Revenue was up 72%, to $2.5 billion. Excluding one-time items, Facebook's profit was $885 million, or 34 cents a share, compared with $312 million, or 12 cents, in the year-earlier period. Analysts had expected earnings per share of 24 cents on revenue of $2.36 billion, according to Thomson Reuters.
BUSINESS
April 23, 2014 | By Chris O'Brien
After weeks of anxiety among investors over Apple Inc.'s fiscal second-quarter results, the company delivered a one-two punch of good news Wednesday that sent its stock soaring. First, Apple posted revenue for the three months ending in March that beat both Wall Street's projections and its own guidance. And second, the company said it was expanding its record stock buyback and dividend plan to $130 billion from $105 billion. "We are announcing a significant increase to our capital return program," Apple Chief Executive Tim Cook said in a statement.
BUSINESS
April 23, 2014 | By W.J. Hennigan
Boosted by strong sales, Boeing Co. beat analysts' estimates for its first quarter largely because of faster production of commercial jetliners. The Chicago aerospace giant reported a profit of $965 million, or $1.28 a share. That's down 12.7% from $1.11 billion, or $1.44 a share, a year earlier. Boeing attributed the fall to a $330-million write-off related to changes in its pension plans and a one-time tax credit in 2013. The company's core earnings - excluding retirement costs and the write-off - rose to $1.76 a share, up from $1.73 a share a year earlier.
CALIFORNIA | LOCAL
April 10, 2014 | By Dan Weikel
Significant holes in record keeping at Los Angeles International Airport and inadequate oversight by the Federal Aviation Administration has made it difficult to ensure that millions of dollars in airport revenue are being spent properly for law enforcement, a new government audit has found. The review by the U.S. Department of Transportation's inspector general revealed that Los Angeles World Airports, the operator of LAX, has paid at least $7.9 million in the last few years to the Los Angeles Police Department without documentation showing that the services provided were airport-related.
WORLD
April 6, 2014 | By Carol J. Williams
MOSCOW - It can take Moscow residents two hours in dense traffic to drive the first 10 miles on the highway to St. Petersburg, in the direction of their country cottages surrounded by lakes and birch groves. Then the road's real limitations become apparent. The potholed two-lane route connecting Russia's two largest cities has never been upgraded into a proper highway. Anyone who cares to drive its entire 440-mile length - mostly truckers - will need at least 12 hours. But 5,600 miles away, the government spent more than $1 billion on less than a mile of bridge connecting Vladivostok with Russky Island, previously inhabited only by a military garrison so isolated that four soldiers starved to death in 1992.
BUSINESS
November 10, 2011 | By Ben Fritz, Los Angeles Times
A weak film slate drove Lionsgate Entertainment Corp. revenue down in the quarter ended Sept. 30, causing its stock to fall 5% despite a previous warning by the independent studio. The Santa Monica company told investors in late September that the box-office underperformance of movies "Conan the Barbarian," "Warrior" and "Abduction" would cause it to lose more money than expected in its fiscal second quarter. But investors still seemed mildly disappointed Wednesday as Lionsgate reported that its revenue dropped 22% from the same period a year earlier, to $358.1 million.
BUSINESS
April 25, 2013 | By Andrea Chang
Amazon.com reported a 22% increase in revenue in the first quarter but a hefty decline in profit. For the three months ended March 31, the e-commerce behemoth said profit fell 37% to $82 million, or 18 cents a share, from $130 million, or 28 cents, a year earlier. Revenue totaled $16.07 billion, up 22% from $13.18 billion. Despite the sharp decline in profit, the results came in well ahead of expectations. Analysts polled by FactSet were expecting earnings of 7 cents a share.
BUSINESS
March 30, 2014 | By Stuart Pfeifer
Most people may take natural gas for granted. It fuels the flame on your stove, fires your furnace. It's there when you need it. For Sempra Energy, natural gas is big business. The San Diego company owns Southern California Gas Co., the nation's largest natural gas distribution company, and San Diego Gas & Electric, one of the largest publicly owned power companies in the country. Sempra reported net income of $1 billion last year on revenue of $10.6 billion. It has 17,000 employees worldwide and provides energy to more than 30 million people.
BUSINESS
March 28, 2014 | By Andrea Chang
BlackBerry swung to a loss and reported a decline in revenue in its fourth quarter, but Chief Executive John Chen greeted the results with optimism. "I am obviously extremely pleased with the Q4 results because it put us on the track and if not, slightly ahead," Chen said in a call with analysts Friday. "I'm very pleased with the fact that the company's now back in execution mode. " The company's fourth-quarter loss was smaller than expected, but it missed on revenue. VIDEO: Unboxing the HTC One (M8)
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