Apple
The consumer-electronics maker said Wednesday its profit in the holiday quarter edged up 2 percent and beat Wall Street’s expectations, buoyed in part by growing iPod sales outside the U.S.
In the fiscal first quarter that ended Dec. 27, Apple’s earnings rose to $1.61 billion, or $1.78 per share. In the comparable period a year earlier, profit was $1.58 billion, or $1.76 per share. Sales improved 6 percent to $10.2 billion. The results topped analysts’ forecasts on both counts.
Woodward Governor
The Fort Collins-based maker of turbine systems rose the most in six months after first-quarter profit beat analysts’ estimates.
Net income increased 6.9 percent to $27.1 million, or 39 cents a share, from $25.3 million, or 36 cents a share, a year earlier. Sales increased 27 percent to $344.7 million in the quarter ended Dec. 31.
Analysts, on average, projected profit of 37 cents a share on sales of $333 million, according to Bloomberg data.
U.S. Bancorp
Shares of the Minneapolis-based bank hit a 12-year low Wednesday after it reported a 72 percent drop in earnings in the final three months of last year — its eighth straight quarterly profit decline.
Shares tumbled as low as $11.80 before rebounding to close up 75 cents at $16.09.
For the fourth quarter of 2008, U.S. Bancorp reported net income applicable to common shareholders of $260 million, or 15 cents per share, down from $927 million, or 53 cents per share, a year earlier. Analysts polled by Thomson Reuters, on average, were expecting earnings of 22 cents per share. Total revenue inched up 1 percent to $3.62 billion.
AMR
The parent of American Airlines said it lost $340 million in the fourth quarter, as fewer people flew than a year ago and the carrier was still paying high prices for jet fuel.
AMR said it lost $1.22 per share, including write-offs for grounded aircraft and settling pensions of a large number of pilots who took early retirement.
Without those charges, AMR would have lost $214 million, or 77 cents per share, matching the forecast of analysts. Revenue was $5.47 billion, lower than the $5.52 billion forecast by analysts.
Abbott Laboratories
Sales of the blockbuster drug Humira combined with double- digit growth of medical devices and nutritionals to push profit up 28 percent in the fourth quarter.
Abbott said it earned $1.54 billion, or 98 cents per share, in the last period of 2008, up from $1.2 billion, or 77 cents per share, a year earlier. Excluding one-time items, Abbott said it earned $1.06 per share — in line with estimates by Wall Street analysts. Revenue grew 10 percent to $7.95 billion for the period.
EBay
Quarterly earnings fell 31 percent, indicating that its Internet auctions are being hurt by the recession just like traditional retail sales.
The results, combined with a forecast below analysts’ expectations, sent eBay shares skidding nearly 6 percent.
EBay said it earned $367 million, or 29 cents per share, in the quarter. That fell from $531 million, or 39 cents per share, in the year-ago quarter.
Excluding one-time items in the most recent period, eBay earned 41 cents per share — 2 cents higher than the prediction of analysts polled by Thom son Reuters. Revenue fell 6 percent to $2.04 billion.
