Microsoft
Microsoft said Friday that its revenue kept falling and its net income dropped 18 percent in the past quarter, partly because of the hesitation of businesses, which are more profitable for Microsoft than consumers are.
Microsoft’s earnings in the past quarter dropped to $3.6 billion, or 40 cents per share, though that was much higher than the analysts’ estimate of 32 cents per share in a Thomson Reuters survey. In the same period last year Microsoft earned $4.4 billion, or 48 cents per share. Revenue sank to $12.9 billion.
Honeywell International Inc.
Honeywell International Inc. said Friday that its third-quarter profit fell 15 percent as sales dropped in all its divisions, with key markets in aviation and industrial products continuing to struggle.
The company earned $608 million, or 80 cents per share, in the quarter ended Sept. 30, down from $719 million, or 97 cents per share, a year ago. Revenue fell 17 percent to $7.7 billion.
Analysts surveyed by Thomson Reuters expected lower earnings of 72 cents per share.
Whirlpool
Whirlpool, the world’s biggest home appliance maker, raised its profit outlook for the year, saying cost cutting that has helped it withstand steep sales declines will pay off in the final quarter of the year.
Whirlpool, whose brands include Maytag and KitchenAid as well as its namesake, earned $87 million, or $1.15 per share. That’s down from $163 million, or $2.15 per share, a year earlier.
Quarterly results included $43 million, or 50 cents per share, for a settlement with the Brazilian competition commission.
Sales for the quarter ended Sept. 30 dropped 8 percent to $4.5 billion.
Analysts polled by Thomson Reuters expected profit of 77 cents per share on revenue of $4.28 billion.
Schlumberger
Schlumberger said Friday that it expects energy demand to increase, but slowly, as countries recover from a recession that slashed its third-quarter profits by 48 percent.
The oil-field-services company reported net income of $787 million, or 65 cents per share, for the third quarter. Schlumberger’s revenue fell 25 percent to $5.43 billion.
