Exxon profits soar on higher energy prices October 27, 2011 EXXON Mobil Corp’s profit soared 41 per cent in the third quarter, as gains in crude oil prices and higher refining margins boosted results. The world’s largest publicly traded oil company, reported a profit of $10.33bn (£6.4bn) up from $7.35bn a year earlier. Profit in the company’s exploration and production business rose 54 per cent [...]
CBRE revenue hits $1.5bn as property sells October 27, 2011 COMMERCIAL property agent CBRE yesterday posted a cheering 12 per cent rise in net profit for the past quarter as global property sales jumped 23 per cent. The results, released after US markets closed, showed that its revenues hit $1.5bn (£940m) in the third quarter, 21 per cent higher than in the same quarter in [...]
Time Warner Cable sinks as video customers wane October 27, 2011 TIME Warner Cable missed Wall Street forecasts yesterday, sending the cable company’s shares down as much as eight per cent, as it lost more video customers than expected and lost phone customers for the first time. The number two US cable operator said its third-quarter profit missed analysts’ expectations due to mounting programming costs and [...]
P&G remains in line as quarterly earnings decline October 27, 2011 PROCTER & Gamble posted a slight dip in quarterly profit that was in line with expectations yesterday, as the world’s largest household products maker raised prices and notched sales gains in each unit. The maker of Pampers nappies and Tide detergent earned $3.02bn (£1.87bn), or $1.03 per share, in the quarter ended on 30 September, [...]
Colgate profits in new markets October 27, 2011 COLGATE-PALMOLIVE has posted a higher quarterly profit, as the toothpaste maker benefited from expansion in emerging markets even as rising costs for raw materials eat its margins. The maker of Colgate toothpaste and Palmolive dish soap said it expected earnings per share to rise at a mid-single-digit percentage rate in 2011 and that its goal [...]
Motorola ups revenue target October 27, 2011 MOTOROLA Solutions yesterday raised its revenue target for the full year citing strong demand from businesses and government clients for its wireless equipment. It increased its 2011 revenue growth target to seven per cent from a previous target range of 5.5 per cent to six per cent. For the third quarter, the company said its [...]
Dow Chemical misses forecast October 27, 2011 DOW Chemical narrowly missed Wall Street’s quarterly profit expectations yesterday as cost increases and economic worries dented demand in Europe and North America. Dow reported net income of $815m (£506m), or 69 cents per share, compared with $512m, or 45 cents per share, in the year-ago period. Revenue rose 17 per cent to $15.11bn.
Moody’s results beat estimates October 27, 2011 MOODY’S Corp reported higher-than-expected quarterly earnings yesterday after share buybacks and an increase in research and consulting revenue countered the hit its bond rating business took from government debt crises. Third-quarter net income fell four per cent to $130.7m (£81m) from $136m a year earlier. Revenue rose four per cent to $531.3m.
Avon slumps on bribery inquiry October 27, 2011 US REGULATORS are formally investigating whether Avon broke bribery laws overseas, and the cosmetics company has said it was again reassessing its strategy after quarterly profit fell far short of market expectations. Avon’s third-quarter profit fell to $164.2m, or 38 cents per share, from $166.7m, or 38 cents a share, a year earlier. Revenue rose [...]
Evercore raises quarter dividend October 27, 2011 EVERCORE Partners’ quarterly earnings topped expectations yesterday as the boutique investment bank earned more fees from advising clients despite a tepid merger market. The company also raised its quarterly dividend by 11 per cent to 20 cents a share, effective in the fourth quarter. On an adjusted, pro-forma basis, the firm earned 46 cents a [...]
