Level 3 Communications
The Broomfield-based long-distance phone and data network operator said its third-quarter loss widened 19 percent as sales dropped and interest costs rose. The loss grew to $204 million, or 29 cents a share, from $171 million, or 25 cents a share, a year ago. Revenue fell 4.9 percent to $799 million, the company said. The results beat the average 31 cents-a-share loss estimate from Thom son Financial’s survey of seven analysts, while revenue beat the average $774.2 million estimate. Communications revenue from handling calls and data on Level 3’s network fell 14 percent as high- speed and dial-up Internet traffic declined.
Google Inc.
Rapidly rising profits soared to new heights in the third quarter as Google’s Internet-leading search engine churned out a sevenfold earnings improvement that blew past analysts’ expectations. The Mountain View, Calif.-based company said Thursday it made $381.2 million, or $1.32 per share, during the three months ended in September. That compared with net income of $52 million, or 19 cents per share, a year ago. Last year’s results included a $201 million charge to account for a legal settlement with rival Yahoo Inc. If not for charges related to a recent acquisition and employee stock options issued before the company went public 14 months ago, Google said it would have earned $1.51 per share.
UPS Inc.
The world’s largest shipping carrier reported a 7 percent rise in third-quarter profit Thursday and affirmed its guidance for 2005, though it expects only an “OK” Christmas because it believes high energy prices will hit customers’ wallets. The Atlanta-based company said it earned $953 million, or 86 cents a share, for the three months ending Sept. 30, compared with a profit of $890 million, or 78 cents a share, for the same period a year ago. Analysts surveyed by Thomson Financial were expecting earnings of 86 cents a share.
CoBiz Inc.
The Denver-based financial-services company on Thursday reported a 16 percent increase in year-to-date net income over 2004, ending the third quarter of 2005 at $14.3 million, up from $12.3 million for the same period last year. Diluted earnings per share for the nine months ended Sept. 30 were 62 cents, a 13 percent improvement over the 55 cents reported for the first nine months of 2004.
The Coca-Cola Co.
The beverage giant said it earned $1.28 billion, or 54 cents a share, for the three months ending Sept. 30, compared with a profit of $935 million, or 39 cents a share, for the same period a year ago. Excluding one-time items, Coke said it earned $1.36 billion, or 57 cents a share, in the third quarter. Revenue rose 8 percent to $6.04 billion.
