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Google posts first-quarter revenue of $14 billion

Google Inc reported consolidated first quarter revenue, including its Motorola Mobility business, of $13.97 billion, up 31 percent from the year-ago period.

 

U.S. Postal Service loses $1.3 billion in October-December

U.S. Postal Service

The U.S. Postal Service lost $1.3 billion in the October to December quarter, an official said on Friday, days after the beleaguered mail agency announced plans to cut back on Saturday delivery to save money.

 

Chick-fil-A sales kept growing in 2012 despite uproar

Chick-fil-A president Dan Cathy’s controversial comments on “biblical” marriage last summer and the uproar that followed didn’t dampen the Atlanta company’s annual sales. The fast food giant, the nation’s second-largest chicken chain, ended 2012 with $4.6 billion in sales — up 14 percent from $4.1 billion a year earlier. The company also opened 96 news stores, four more than the year before.

 

Citigroup profit hit by more than $2 billion in charges

Citigroup Inc posted $2.32 billion of charges for layoffs and lawsuits in its first financial report under new Chief Executive Michael Corbat, who said the bank needs to do better for shareholders.

 

DealBook: JPMorgan Quarterly Profit Rises 34%

Finally moving beyond a trading debacle that has stained his once-stellar reputation, Jamie Dimon, JPMorgan Chase’s chief executive, on Friday trumpeted a strong quarter of earnings stemming from a surge in mortgage lending.

Senh: Further proof that the housing market is starting to rebound.

 

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.

 

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.

 

How Apple's phantom taxes hide billions in profit

On Tuesday, Apple is set to report financial results for the second quarter. Analysts are expecting net income of $9.8 billion. But whatever figure Apple reports won't reflect its true profit, because the company hides some of it with an unusual tax maneuver.

 

USPS posts $3.1 billion loss in Q3, warns of default

USPS posts $3.1 billion loss in Q3, warns of default

The U.S. Postal Service posted a net loss of $3.1 billion in its third quarter and warned again it would default on payments to the federal government if Congress did not step in.

 

Bank of America posts $2.24 billion loss

Bank of America posts $2.24 billion loss

Bank of America Corp. says it lost more than $2 billion in the third quarter as its loan losses continued to rise.

 

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