Earnings, Quarterly Earnings | featured news

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.

If Apple Inc's weaker-than-expected quarterly result is anything to go by, the global smartphone industry is a lot more vulnerable to economic shocks these days than during the 2008-2009 financial crisis.

Facebook‘s first quarterly report is inspiring few new friends. The social network swung to a loss in the most recent period, casting fresh doubts on the company’s ability to monetize its giant user base. The Menlo Park, Calif.-based company posted a $157 million, 8 cents a shares, loss in the quarter, down from a $240 million profit. Excluding hefty stock compensation charges, Facebook earned $295 million, 12 cents a share. That meets the Wall Street forecast.

The company reported net income of $7 million, or 1 cent a share, on sales of $12.8 billion. It was less profit than analysts had estimated, but the revenue was in line with forecasts.

Sprint Nextel Corp., the country's third-largest wireless carrier, on Thursday reported a wider loss for the second quarter as wrote down the value of its moribund Nextel network.

Exxon Mobil Corp, the world's largest publicly traded oil company, posted lower-than-expected quarterly earnings on Thursday as its oil and gas output sagged and its chemicals business struggled.

RadioShack Corp. said today that it’s eliminating its dividend to shareholders as it reported a second quarter loss. The Fort Worth-based consumer electronics retailer reported a net loss of $21 million, or 21 cents a share, compared with a profit of $24.9 million, or 24 cents a share a year ago. Total sales increased 1.2 percent from a year ago and same-store sales were flat.

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.

General Electric Co reported second-quarter profit slightly above expectations on Friday, offsetting weaker-than-forecast revenue growth, and said it was finding ways to grow despite a hazy economic outlook.

Microsoft Corp. (MSFT) had a bigger gain in multiyear software deals than analysts predicted last quarter, a sign that businesses are flocking to the company’s programs as consumers delay purchases or opt for competitors.