First Quarter Earnings, Quarterly Earnings | featured news

While the company's new Lumia line of smartphones is gaining traction, those using the older Symbian operating system have lost their appeal.

Helped out by special items, Southwest Airlines reported a net income of $98 million last quarter to preserve its 21-year string of profitable first quarters. But excluding those gains, mostly from an increase in value of fuel hedges, the Dallas-based carrier said it lost $18 million.

EBay's first-quarter net income grew 20 percent thanks to higher revenue from its PayPal business and brisk sales at its e-commerce websites. The results beat Wall Street's expectations and investors sent the company's stock higher in after-hours trading.

Moody's ratings agency downgraded Nokia's debt grade to near junk status on Monday, citing a sharp decline in first-quarter cellphone sales that led to a 35 percent fall in revenue.

FedEx scared markets in its first quarter earnings report, noting the global economy would slow and demand, particularly from Asia, would cool, putting downward pressure on the stock.

Big Lots posts decline in quarterly profit, Tiffany shows gain.

Sales of homes in some stage of foreclosure declined in the first three months of the year, but they still accounted for 28 percent of all home sales.

TiVo late Tuesday reported better-than-expected results for its fiscal first quarter ended April 30. For the quarter, the DVR seller posted revenue of $45.7 million and diluted EPS of $1.04 a share, with adjusted EBITDA of $149.4 million. The Street had been expecting revenue if $42 million and a loss of 31 cents a share. Adjusted EBITDA and net income reflect litigation proceeds of $175.7 million from the company’s recent patent infringement settlement with Dish Network.

The company revised its forecast for the current quarter, indicating worries about the impact of the Japan earthquake, softness in sales of PCs and lower operating profits in its services unit.

Cisco Systems Inc, the world's biggest networking equipment maker, reported quarterly earnings above Wall Street projections as profit margins beat its own expectations.