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BUSINESS
January 29, 2009 | From Times Wire Reports
Chip maker Qualcomm Inc. slashed its forecasts for revenue and earnings as it reported its fiscal first-quarter profit plunged 56%. The company said the global economic slowdown and financial crisis had slowed demand for its chips, which run many of the world's mobile phones. It said its financial investments had also taken a significant hit. The San Diego company lowered its estimate for 2009 operating income to a range of $2.2 billion to $2.5 billion, from a range of $2.6 billion to $2.8 billion.
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BUSINESS
March 20, 2009 | Times Wire Services
Shoppers scaling back on discretionary purchases like books and music hurt profit at Barnes & Noble Inc., which said earnings fell 29% in the period that included the dismal holiday season -- usually retailers' busiest time of the year. But the nation's largest bookstore chain posted adjusted results that beat Wall Street's forecast, and gave an outlook for the current quarter that was in line with what analysts expect. Its shares rose nearly 5%. The New York company earned $81.2 million, or $1.46 a share, in its fiscal fourth quarter ended Jan. 31, compared with $115 million, or $1.79, a year earlier.
BUSINESS
September 19, 2008 | From Times Wire Services
Oracle Corp. said Thursday that its fiscal first-quarter profit jumped 28%, beating Wall Street's expectations, as software sales stayed steady despite turmoil in the U.S. economy. The business software maker's net income for the three months that ended Aug. 31 rose to $1.08 billion, or 21 cents a share, from $840 million, 16 cents, a year earlier. Excluding expenses for employee stock options and acquisitions, Oracle posted earnings of 29 cents a share. Analysts had expected 27 cents, according to a Thomson Reuters poll.
BUSINESS
November 7, 2008 | Times Wire Reports
DirecTV Group Inc., the nation's largest satellite-TV operator with more than 17 million customers, said its third-quarter earnings rose 14%, fueled by growth in subscribers, higher prices and lower capital expenses. "We are in a tough economy and a competitive environment," Chief Executive Chase Carey said. But business has been good so far and, "overall, the impact is marginal," he said. The El Segundo-based company reported net income of $363 million, or 33 cents a share, up from $319 million, or 27 cents, a year earlier.
BUSINESS
November 4, 2008 | Times Wire Reports
Goodyear Tire & Rubber Co. said Monday it sold fewer tires in the third quarter as the U.S. auto industry slowed down, but on average earned more for each tire and beat Wall Street's earnings expectations. Earnings for the biggest U.S. tire maker dropped sharply in the third quarter from a year ago, when it got a $517-million one-time lift from the sale of its Engineered Products unit. Goodyear earned $31 million, or 13 cents a share, for the three months ended Sept. 30, down from $668 million, or $2.75, a year ago. The latest earnings work out to 43 cents a share before one-time items, beating the 33 cents forecast by Wall Street analysts, according to Thomson Reuters.
BUSINESS
November 19, 2008 | TIMES WIRE SERVICES
Clothing retailer Pacific Sunwear of California Inc. said it narrowed its fiscal third-quarter loss and total sales fell 5% as cautious consumers continued to pull back on their spending. The company said it posted a net loss of $2.5 million, or 4 cents a share, for the period that ended Nov. 1, compared with a loss of $20 million, or 29 cents, a year earlier. The company said the quarter included a goodwill impairment charge of about $4.2 million, or 6 cents a share. Results from continuing operations, which exclude results from businesses that have been sold or are in the process of being sold, amounted to a loss of $3.5 million, or 5 cents a share, compared with income of $17.1 million, or 25 cents, from the previous year.
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