February 20, 2014 |
Hewlett-Packard reported first-quarter earnings Thursday that beat analysts' expectations even as the company reported another decline in revenue. HP said revenue for the first quarter ending in January was $28.2 billion, down from $28.4 billion, or about 1%. That topped the $27.2 billion Wall Street expected, according to Thomson Financial. Revenue at the company has been declining for a couple of years now. However, the 1% decline is less than the 4% decline Wall Street expected, and it's less than the 6% decline HP reported a year ago. "HP is in a stronger position today than we've been in quite some time," said Meg Whitman, HP's president and chief executive officer, in a statement released with the earnings.
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.
February 14, 2014 |
Comcast Corp.'s $45.2-billion stock deal for Time Warner Cable would create a media juggernaut with revenue approaching $100 billion and more than 30 million customers, including more than 1.5 million in the Los Angeles metropolitan area. "We view this as a merger that creates a company on the leading edge of innovation, a company committed to investing in networks, products and services that deliver the customer the best possible experiences," Comcast Chief Executive Brian Roberts said on a call with Wall Street analysts.
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 6, 2014 |
Lions Gate Entertainment Corp. rode its hit film "The Hunger Games: Catching Fire" to a record-setting third quarter. The company reported record quarterly revenue of $839.9 million, up 13% from a year earlier. Lions Gate turned a profit of $88.8 million, up from $37.8 million for the same period a year earlier. Lions Gate partly attributed the success to "The Hunger Games" sequel, which was released Nov. 22 and has grossed $861 million worldwide, according to Box Office Mojo.
February 6, 2014 |
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.
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 - As far as Wall Street is concerned, Google Inc. can build all the robots and self-driving cars that it wants as long as it keeps growing its main business: online advertising. And increasingly, that means selling ads that are shown on mobile devices. Google reported Thursday that fourth-quarter net income and revenue rose 17%, to $3.38 billion and $16.86 billion, respectively. The technology giant, however, continued to struggle with a decline in online ad prices.