Company Earnings - Page 7

AP - Xerox profits jumped nearly 17 percent in the first quarter of the year to $233 million, the company announced Friday, on the strength of solid revenue gains and cost-cutting measures.

AP - Schlumberger Ltd. said Friday its first quarter profit spiked 63 percent, as the world's largest oilfield services provider continued to benefit at the start of 2007 from heavy activity by oil and natural gas companies worldwide.

AP - McDonald's Corp. extended its hot streak to four years with a 22 percent jump in first-quarter earnings, and also said Friday it will sell nearly 1,600 restaurants in Latin America and the Caribbean to a franchisee — a gain it pledged to return to shareholders. More Info...  

AP - Caterpillar Inc. shares surged more than 4 percent Friday as the world's largest construction equipment maker posted better-than-expected profit despite a weak U.S. home building market and a sharp decline in engine sales.

AP - Pfizer Inc., the world's largest drug maker, said Friday its profit fell 17.5 percent in the first quarter, hurt by one-time charges and disappointing sales of diabetes drug Exubera. Adjusted results beat Wall Street expectations by a wide margin.

Reuters - McDonald's Corp. said on Friday it will sell about 1,600 restaurants in Latin America and the Caribbean for $700 million to a franchisee organization led by the man who brought the Golden Arches to Argentina 20 years ago.

NewsFactor - Using the term "global" to describe Google's growth these days might be an understatement. Google posted its second consecutive $1 billion earnings quarter on Thursday, blowing away the yearly projections of several more-mature media companies. More Info...  

AP - Diversified industrial conglomerate Honeywell International Inc. said Friday first-quarter earnings jumped 21 percent as sales and profits rose across all of its segments. More Info...  

AFP - SAP, the world's leading maker of business software, said on Friday that earnings rose strongly in the first three months of the current year, even if the increase fell short of expectations.

AP - Staffing firm Manpower Inc. said Friday its first-quarter profit increased 13 percent, benefiting from stronger-than-expected revenue growth and a weak U.S. dollar, which made its services more attractive globally. More Info...  

Reuters - Xerox Corp. , the world's largest supplier of office printers, copiers and related services, said on Friday that quarterly profit rose a better-than-expected 17 percent, driven by sales of service contracts and supplies. More Info...  

Earnings News AP - Advanced Micro Devices Inc. reported a greater-than-expected loss in the first quarter as the chip maker continued to struggle amid a fierce price competition with larger rival Intel Corp. Despite the miss, AMD's already-depressed stock price surged on signs the price battle is easing and the company is willing to outsource some of its chip-making duties to outside factories to cut costs. More Info...  

AP - Google Inc.'s first-quarter profit rose 69 percent, maintaining the online search leader's penchant for obliterating analyst estimates.

AP - Google Inc.'s first-quarter profit rose 69 percent, maintaining the online search leader's penchant for obliterating analyst estimates.

Reuters - American Express Co. said on Thursday that quarterly profit rose 21 percent, as the fourth-largest U.S. credit card company cut marketing costs.

AP - Wall Street closed essentially flat Thursday after struggling to resume a modest upward trend while investors juggled upbeat economic data, divergent earnings reports and a pullback in Chinese stocks. The Dow Jones industrials edged higher to a record close for the second straight day.

AP - American Express Co., the nation's third-largest credit card brand, said Thursday heavier use of its cards by more customers helped drive first-quarter profit up 21 percent to a record $1.06 billion.

FT.com - US stocks recovered from sharp early losses on Friday and edged into record territory as solid earnings updates helped investors shrug off concerns about the Chinese economy. More Info...  

AP - Merrill Lynch & Co.'s first-quarter profit soared more than 30 percent, the nation's largest retail brokerage said Thursday, thanks to strong revenue from investments and takeover activity.

AP - Sagging U.S. sales and a three-week strike at Harley-Davidson Inc.'s largest production plant caused the motorcycle maker's profit to drop 18 percent in the first quarter.