Earnings & Sales Reports, Third Quarter Earnings | featured news

Verizon's third-quarter profit more than doubled as the telecommunications giant reported improved margins and wireless-subscriber growth.

Apple Inc stunned Wall Street by reporting results that missed expectations for the first time in years, blaming rumors of the new iPhone for hurting demand in the September quarter.

Yahoo Inc has managed to meet low third quarter earnings targets, a rare feat for a company that has continually disappointed investors.

Bank of America reported a $6.2 billion profit for the third quarter as gains from assets sales and positive accounting changes outweighed weaker results in its trading business and continued losses in its huge mortgage portfolio.

Economic growth in China during the third quarter of the year is expected to have slowed as a result of government measures to curb inflation.

itigroup's strategy of slimming down and focusing on a few core businesses is paying off. The New York bank reported third quarter earnings rose 74 percent in the third quarter, to $3.8 billion, due to lower losses from loans and an accounting gain. Its international consumer lending business grew in Asia and Latin America. The bank also decided to keep its credit card partnership with retailers as that business improved.

Merck & Co. posts an 90 percent drop in third-quarter profit, due to large charges for its $41.1 billion acquisition of Schering-Plough Corp.

Third-quarter earnings at the retailer fell 8.9 percent amid weak housing and renovation markets, but the retailer raised its full-year outlook.

The New York Times Company reported a $35.6 million loss for the third quarter on falling advertising revenue, but deep cost-cutting and newspaper price increases helped beat projections.

Cost-cutting at drug maker Pfizer helps it to increase third-quarter profits despite falling sales of its medicines.