EARNINGS
News Corp. beats expectations
From Miami Herald Wire Reports
NEWS CORP.: The media conglomerate said Wednesday its net income for the latest quarter grew despite analysts' expectations of a decline, thanks to strength at its cable networks and the box-office success of Ice Age: Dawn of the Dinosaurs.
The company is facing multiple challenges, including an advertising downturn and the shift of readers to the Internet. Newspaper and TV station earnings fell, but they were more than offset by gains elsewhere.
The net income increase of 11 percent came to $571 million, or 22 cents per share, while revenue fell 4 percent to $7.2 billion, beating forecasts.
CISCO SYSTEMS: Quarterly income dropped 19 percent but orders are improving.
CEO John Chambers says the latest results reinforce that things are getting better after the ``clear tipping point'' Cisco saw this summer.
Cisco says it earned $1.8 billion, or 30 cents per share, down 19 percent from $2.2 billion, or 37 cents per share, a year ago.
Excluding one-time charges, the world's biggest maker of computer networking equipment earned 36 cents per share. Analysts expected 31 cents per share in net income.
Revenue dropped 13 percent to $9 billion but topped analysts' forecasts for $8.7 billion.
COMCAST: The largest U.S. cable-TV company posted a 23 percent jump in third-quarter profit, bolstered by subscriber gains, higher monthly bills and lower capital spending. Net income rose to $944 million, or 33 cents a share, Comcast said. Sales increased 3 percent to $8.8 billion.
GARMIN: The navigational device maker reported a 24 percent increase in third-quarter profit as lower costs offset a drop in sales. Garmin, based in the Cayman Islands with headquarters in Olathe, Kan., reported earning $215 million, or $1.07 per share, during the July-September period, up from $171.2 million, or 82 cents per share, a year ago.
Revenue declined 10 percent to $781.3 million from $870.4 million a year ago but well above the $703.9 million analysts expected.
GMAC FINANCIAL SERVICES: The main lender for GM and Chrysler customers and dealers reported another quarterly loss as bad loans continued to haunt its mortgage lending unit. GMAC said its net loss was $767 million during the third quarter versus a loss of $2.52 billion in the same quarter last year.
MARSH & McLENNAN: Profitability returned in the third quarter amid improving earnings in its risk and insurance services division and a decline in expenses.
Marsh & McLennan earned $221 million, or 41 cents per share, during the quarter ended Sept. 30. It lost $8 million, or 2 cents per share, during the same period last year.
MILLERCOORS: The U.S. joint venture between Molson Coors Brewing Co. and SABMiller said that its third-quarter profit climbed on cost-control efforts as well as the strength of beer brands like MGD 64.
Its earnings rose 37 percent to $229.7 million compared with a pro-forma profit of $168.2 million a year ago. Revenue grew 3 percent to $2.01 billion from $1.95 billion, partly on MGD 64's strength, while sales of Miller Lite continued to soften.
MOLSON COORS: Consumers bought less beer made by Molson Coors in its third quarter, but profit rose 37 percent because of price increases and cost savings from the company's joint venture in the U.S.
The maker of Coors Light, based in Denver, earned $235.3 million, or $1.26 a share, in the period ending Sept. 30, up from $171.3 million, or 92 cents a share, last year. Sales fell 7.3 percent to $853.7 million.
PRUDENTIAL FINANCIAL: The third-quarter net income was $1.08 billion, compared with a loss of $176 million in the year-earlier period. Revenue rose 4 percent to $6.6 billion, just short of analysts' expectations for $6.65 billion.
PULTE HOMES: The builder lost $361.4 million in the third quarter, but with the acquisition of Centex, new orders increased by more than a third. Revenue fell to 30 percent to $1.09 billion.
TIME WARNER: The media conglomerate reported a 38 percent drop in third-quarter profit after being hurt by declines at its AOL and publishing segments. Profit fell 38 percent to $661 million, or 55 cents per share, in the July-September quarter, down from $1.1 billion, or 89 cents per share, a year ago. Revenue fell 6 percent to $7.1 billion, in line with analysts' estimates.
WHOLE FOODS MARKET: Business has officially turned the corner as profit and revenue for its stores grew in the fourth quarter, the Austin, Texas company said.
The natural and organic grocer reported that it earned $28.7 million, or 20 cents per share, for the quarter. That's up from just $1.5 million, or 1 cent per share, for the same quarter last year. Sales grew more than 2 percent to $1.8 billion.




















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