Hewlett-Packard
The world’s top seller of personal computers posted a quarterly profit that dropped 13 percent, and sales ticked up just 1 percent, as even the technology company’s cash-cow printer- ink business was hobbled by the recession.
HP earned $1.85 billion, or 75 cents a share, in the three months that ended Jan. 31. That compares with profit of $2.13 billion, or 80 cents a share, a year ago.
Without one-time costs, HP earned 93 cents a share, matching analyst estimates.
Cimarex Energy
The Denver-based energy company reported a fourth-quarter loss of $1.05 billion, or $12.86 a share, compared with a profit of $130 million, or $1.54 a share, in the same period last year. Sales fell to $298.8 million from $438.7 million the previous year. Cimarex’s loss included a previously announced $1 billion after-tax reduction in the value of its oil and gas properties and a $68.3 million litigation charge.
Comcast
The nation’s largest cable-TV provider said Wednesday that its fourth- quarter earnings fell 32 percent, hampered by a $600 million write-down of its investment in wireless-technology provider Clearwire Corp.
In the fourth quarter, Comcast earned $412 million, or 14 cents a share, compared with $602 million, or 20 cents a share, in the year-ago quarter. Comcast’s revenue rose 9 percent to $8.77 billion.
Excluding items such as the Clearwire charge, Comcast earned 27 cents a share, up 7 cents a share from the same quarter last year. Analysts polled by Thomson Reuters had expected an adjusted profit of 22 cents a share.
Whole Foods Market
The natural grocer’s profit dipped in the first quarter on slowed sales, but the earnings beat expectations.
The Austin, Texas-based grocer said Wednesday that its profit slipped to $27.8 million, or 20 cents a share, compared with $39.1 million, or 28 cents a share, last year. The results included $11 million in legal costs.
Goodyear Tire & Rubber
The biggest U.S. tire maker said Wednesday that it plans to cut nearly 5,000 jobs this year after a sharp drop in sales led to a loss of $330 million in the fourth quarter.
Goodyear’s loss in the three months ended Dec. 31 amount to $1.37 a share, compared with a profit of $52 million, or 23 cents a share, a year earlier.
CBS
The broadcasting company said Wednesday its profit fell 52 percent in the fourth quarter because of weaker advertising sales.
CBS said it had a net profit in the three months to Dec. 31 of $136 million, or 20 cents a share, compared with a profit of $286 million, or 42 cents a share, in the same quarter a year ago. Revenue fell 6 percent to $3.53 billion.
