Fourth Quarter Earnings, Quarterly Earnings | featured news

Fannie Mae earned $17.2 billion last year, the biggest annual profit in the U.S. mortgage giant's history, helped by a record fourth quarter.

Electronic Arts Inc. said Monday its Chief Executive John Riccitiello is stepping down and that its fourth-quarter results could fall short of expectations.

Costs related to Staples turnaround plan helped drive down the office supplier's fourth-quarter net income by 72 percent. Its quarterly revenue and financial outlook for the year missed Wall Street's expectations.

The Commerce Department said that output expanded at an annual rate of just 0.1 percent, way below the country’s long-term average but above the original estimate of a contraction.

The Washington Post Co. reported a fourth quarter 2012 loss of $45.4 million, or $6.57 a share as it took $113 million of charges for goodwill write downs and restructuring, mostly in its Kaplan education subsidiary. A year earlier the company earned $61.7 million or $8.03 a share

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.

LinkedIn reported fourth quarter 2012 earnings that beat Street expectations, sending shares soaring in late trading.

New York Times profit tripled in the fourth quarter thanks to one-time items, including the sale of its share in Indeed.com, but the underlying business continued to erode on sharp advertising declines.

Philip Morris International Inc., which markets Marlboro cigarettes outside the U.S., said fourth-quarter profit rose 11%, thanks to higher sales volumes in Asia and Eastern Europe, Middle East and Africa.

Rising TV subscription fees plumped up profits at Time Warner. The media and entertainment giant said profits in the last three months of 2012 rose 51% from a year ago to $1.2bn (£750m), despite no change in revenues. TV subscription income rose 7%, as cable and satellite operators paid more to carry channels such as CNN and TNT.