profits news stories on Newser

Google Splits Stock as Profits Soar

Rob Quinn — Fri, 13 Apr 2012 02:30:00 CDT

Google has unveiled a stock split that will double the number of shares while keeping co-founders Larry Page and Sergey Brin firmly in control. The company is creating a new class of nonvoting shares that will be distributed to existing shareholders in a 2 for 1 split. The move will...

Amazon Profit Plummets 73%

Neal Colgrass — Tue, 25 Oct 2011 18:27:00 CDT

Amazon.com's lavish spending has cut into profits and left investors rattled, the Wall Street Journal reports. The company announced a dizzying 73% drop in third-quarter profit today and saw its stock fall by 12%, or $28, to $198 in after-hours trading. The reason: Amazon is investing big-time in new...

IRS Eyes Google As Profits Jump

Rob Quinn — Fri, 14 Oct 2011 01:38:59 CDT

Hard times elsewhere haven't done any damage to Google's bottom line. The company has announced a whopping 26% year-on-year jump in profits for the third quarter of this year, with net income of $2.73 billion on nearly $10 billion revenue, most of it from advertising, the BBC reports. "The...

HSBC to Cut 30K Jobs

Matt Cantor — Mon, 01 Aug 2011 05:44:03 CDT

HSBC plans to cut some 30,000 jobs by 2013, shrinking its global workforce by 10%, the company says. As part of the plan, the British bank has cut 5,000 jobs this year, the AP reports. The firm didn’t say which countries would see cuts, though a rep noted...

In This Crappy Economy, Corporate Profits Soar

Kevin Spak — Tue, 05 Jul 2011 07:55:07 CDT

There's a whole lot of evidence that the US' economic recovery isn’t going well—unemployment remains too high, consumer lending too low, and consumer confidence in shambles—but one place you won’t find that evidence is on corporate balance sheets. US companies are poised to post big profits in the...

Vatican Back in the Black

Polly Davis Doig — Sat, 02 Jul 2011 07:28:57 CDT

Good news: The Vatican returned to the black last year, after three straight years in the red. The Catholic Church pulled in $14.3 million, it said in its annual financial report today, while the Vatican city state made $30.6 million, fueled largely by ticket sales at the Vatican...

Palin's Bus Tour: Politics for Profit

Matt Cantor — Mon, 06 Jun 2011 13:52:17 CDT

Score one for Sarah Palin on her bus tour—whether she’s running for president or “just testing a new reality show format.” Palin’s post-gubernatorial moves don’t prove she’s seeking the White House, but they do show “an understanding that outrageous statements, calculated controversy, and the blurring of the line between...

Chrysler Turns 1st Profit Since Bankruptcy

Matt Cantor — Mon, 02 May 2011 08:09:27 CDT

Good news for Detroit: The Big Three automakers are all profitable once again. Chrysler has reported its first net profit since leaving bankruptcy nearly two years ago, with a net income of $116 million in the first quarter. The firm saw revenue jump 35% to $13.1 billion compared to...

Goldman Profits Dive 83%

Jane Yager — Wed, 21 Jul 2010 05:54:00 CDT

Goldman Sachs fell short of analysts' estimates yesterday, posting an eye-popping 83% second-quarter drop in net income. Profits fell to $453 million, or 78 cents a share. Goldman executives said the fall in profit came as the exceptional trading conditions following the 2008 financial crisis evaporated, and investors remained pessimistic...