Quarterly Earnings, Third Quarter Earnings | featured news

Microsoft is on the verge of releasing Windows 8, its biggest software product in years — and the company's lackluster financial results on Thursday underscored how badly the company needs it to deliver.

PepsiCo Inc stood by its full-year forecast on Wednesday despite beating earnings expectations in the third quarter as it pours money back into its business.

Two of the nation's largest banks released third-quarter results that suggest the U.S. housing market, a key factor in the nation's economic performance, is bouncing back as mortgage rates hit record lows and home refinancings surge.

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.

As the government expands its support of the housing market, analysts expect that mortgage profits at banks will rise in third-quarter earnings reports and will continue well into next year.

U.S. economic growth was slower than previously estimated in the third quarter on a sharp drop in healthcare spending.

The third quarter’s gross domestic product grew at a 2.0 percent annual rate, the Commerce Department said in a revised estimate, down from the previously estimated 2.5 percent.

Dish Network, the smaller of the nation's two satellite broadcasters, saw profit and revenue rise last quarter but lost 111,000 subscribers, citing intense competition -- including heavy discounting by rivals -- a weak housing market and lower discretionary spending by consumers.

Dutch financial services group ING is to cut 2,700 staff and contract jobs, it said on Thursday in announcing third-quarter results, slashing the headcount at its Dutch retail banking operations by 10 percent in the face of deteriorating markets.

MasterCard Inc reported sharply higher third-quarter profit on Wednesday, easily beating Wall Street estimates on double-digit increases in volumes.