November 21, 2013 |
Internet radio company Pandora Media Inc. reported third-quarter sales that exceeded analysts' expectations as mobile advertising grew by more than half. But the company swung to a net loss as it spent more on marketing, sales and product development. Sales by the Oakland-based company for the three months that ended Oct. 31 grew 50% from the same period last year to top $180 million, more than the $178 million that analysts were expecting. ON LOCATION: Where the cameras roll Its mobile revenue, generated by ads on the streaming music service's smartphone and tablet applications, increased 58% year-over-year to nearly $105 million. The company posted a net loss of $1.7 million (one cent per share)
CALIFORNIA | LOCAL
November 20, 2013 |
SACRAMENTO - California's finances are improving faster than expected and schools could receive billions in extra funds next year, according to the Legislature's budget advisors. "The state's budgetary condition is stronger than at any point in the past decade," a report released Wednesday says. Higher-than-expected revenue, driven by the economic recovery and stock market gains, could pump more than $4 billion in unanticipated funds into schools and community colleges starting next summer, the report says.
November 12, 2013 |
All the amenities of modern medicine are available at a new West Los Angeles hospital. There's 24-hour emergency care, a team of surgeons, psychology and physical therapy units, MRI and CT machines, one of the top oncologists in the country. Medical assistants busily roam the halls, soothing patients' fears with smiles, kind words or gentle touches. But they have to watch out: The patients can bite. They're dogs, cats and other pets being treated at the VCA West Los Angeles Animal Hospital, which at 42,000 square feet is the largest pet hospital west of the Mississippi River.
November 11, 2013 |
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.
November 5, 2013 |
Rupert Murdoch's newly streamlined 21st Century Fox media company missed Wall Street's profit expectations for the fiscal first quarter, despite raking in higher revenue from television programming fees and advertising sales. The quarter ended Sept. 30 marked the first reporting period for the slimmed down and newly minted company, which spun off its publishing assets at the end of its last fiscal year in June, and changed its name to 21st Century Fox. For the quarter, Fox reported net income of $1.26 billion, or 54 cents a share, compared to $2.23 billion, or 94 cents a share, a year earlier. On an adjusted earnings-per-share basis, to exclude the sale of an ownership interest in a pay TV encription business, the film and television company earned 33 cents a share, down from 38 cents a share a year earlier.
October 30, 2013 |
Facebook Inc. had another impressive quarter, reporting strong profit and revenue that soundly beat Wall Street expectations. The world's largest social network said it earned $425 million, or 17 cents a share, compared with a $59-million loss a year earlier. Revenue for the three months that ended Sept. 30 totaled $2.1 billion, up 60% from $1.3 billion in the same quarter last year. Analysts had expected the company to report revenue of $1.91 billion. Revenue from advertising was $1.8 billion, up 66% year over year.
October 30, 2013 |
Airlines still make most of their money flying you from point A to point B. But a bigger share of that revenue now comes from selling you food, drinks and entertainment during the trip. Airlines worldwide are expected to collect $42.6 billion from passenger fees, the sale of frequent flier miles and other sources in 2013, an 18% increase from last year. The forecast by Wisconsin-based IdeaWorksCompany , a consultant to the airline industry, also shows that such fees and commissions have become a bigger part of the airline industry's revenue stream.
October 29, 2013 |
CBRE Group Inc., the world's largest commercial real estate brokerage, turned a $94-million profit in the third quarter of this year led by growth in lease activity in the United States and the overall real estate recovery in Europe. The Los Angeles firm said Tuesday that income from arranging transactions to buy or rent space in offices, warehouses and other commercial properties helped revenue increase 11% from the third quarter last year to $1.73 billion. Revenue from brokering property sales was up 29% over the same period.
October 26, 2013 |
WASHINGTON - As America's road planners struggle to find the cash to mend a crumbling highway system, many are beginning to see a solution in a little black box that fits neatly by the dashboard of your car. The devices, which track every mile a motorist drives and transmit that information to bureaucrats, are at the center of a controversial attempt in Washington and state planning offices to overhaul the outdated system for funding America's major...
October 17, 2013 |
SAN FRANCISCO - Google Inc.'s quarterly results topped Wall Street expectations as the technology giant continued to grow its mobile advertising business, propelling its shares into record territory. The company keeps minting money despite investors' worries that its search advertising business will take a tumble as consumers spend more time on mobile devices, on which ads are cheaper and less effective than on desktop computers. As with competitors Facebook Inc. and Yahoo Inc., Google has come under pressure from investors as more consumers access the Internet from smartphones and tablets.