Quarterly Earnings | featured news

U.S. Postal Service loses $5.2 billion, warns of low cash

U.S. Postal Service

The U.S. Postal Service's net loss widened to $5.2 billion during the April through June period, and the cash-strapped agency warned on Thursday that without help from the U.S. Congress it will face low cash and be unable to borrow money this fall.

 

JPMorgan revises 1Q profit down amid trading probe

JPMorgan Chase on Thursday formally revised its first-quarter financial results to show a lower profit, after deciding that traders at its main investment arm had overstated the value of certain derivatives.

 

Fannie and Freddie Reports Offer Positive Sign for Housing

Housing Market

Fannie Mae and Freddie Mac, the two mortgage-finance giants, this week reported some of their best quarterly results since the real estate collapse. On Wednesday, Fannie Mae posted second-quarter net income of $5.1 billion. That is up from $2.7 billion in the first quarter of this year and an improvement from a net loss of $2.9 billion in the second quarter of last year. Fannie requested no additional money from the Treasury and said it would pay a $2.9 billion dividend to taxpayers.

 

McDonald's blames economy as sales stall in July

Mcdonald's

The Golden Arches are starting to lose some of their shine. McDonald's Corp. says a key revenue figure came in flat in July, its worst showing in more than nine years, as diners pulled back amid a rough economy. After years of outperforming rivals with a string of popular new items, the snag also suggests competition is intensifying for the world's biggest hamburger chain.

 

Washington Post Co. second-quarter profit up 13.6 percent

Online ad revenues rose 8 percent at the news division in the second quarter compared with the same period last year, reversing recent declines. But the $2 million increase in online revenues covered only a small part of the $9.9 million decline in print ads.

Senh: That's the probably with the newspaper industry. The increase in online ad revenue offsets only a quarter of the decrease in print.

 

Procter & Gamble posts quarterly profit, plans buybacks

Procter & Gamble Co posted a drop in quarterly sales on Friday, just weeks after the world's largest household products maker took the blame for its disappointing performance and said it was focusing on ways to improve.

 

GM profit falls 41 percent on weakness in Europe

General Motors said Thursday that its second-quarter profit fell 41 percent as losses in Europe and South America cut into strong North American earnings.

 

Thomson Reuters's Net Rises 64%

Thomson Reuters Corp. profit rose 64% in the second quarter, helped by no longer having to pay integration expenses from its merger, though the company continued to face sluggish growth in its segment serving financial professionals.

 

Chrysler Profits From North American Sales

Chrysler reported its second-quarter profit soared as its predominately North American operations shielded it from the European economic slowdown on plaguing its U.S. competitors.

 

Martha Stewart Living Second-Quarter Loss Narrows

The company reports a swing to an operating profit in its broadcasting unit despite lower revenue, but warns that its return to overall profitability may be delayed.

 

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