Starbucks
Second-quarter profit rose more than eightfold, as more customers visited the company’s U.S. cafes — and spent more when they did, company executives said Wednesday.
Starbucks earned a better-than- expected $217.3 million, or 28 cents a share. During the same period last year, Starbucks earned just $25 million, or 3 cents a share, weighed down by hefty charges. Its revenue rose 9 percent to $2.53 billion. Both figures beat Wall Street forecasts.
AMR
The parent of American Airlines lost more than half a billion dollars in the first quarter — more even than it lost during the depths of the recession last year — as fuel costs rose and passengers were slow to come back.
AMR lost $505 million in the first quarter, or $1.52 a share. February snowstorms on the East Coast and earthquakes in Haiti and Chile cost the company between $20 million and $25 million. Revenue rose 4.7 percent to $5.07 billion.
Lockheed Martin
The defense contractor said its first-quarter earnings fell 18 percent after it was hit by a big charge because of the recent U.S. health care overhaul and experienced profit declines in three of its business units. The results still beat Wall Street profit forecasts.
Lockheed earned $547 million, or $1.45 a share, down from $666 million, or $1.68 a share, a year ago. The first-quarter results included a 10-cent gain from higher investment income. Revenue rose 3 percent to $10.64 billion.
Boeing
The airplane maker and defense contractor’s first-quarter profit fell almost 15 percent as it delivered fewer aircraft. But the company said it’s still on track for its most closely watched delivery: the first 787, by the end of the year.
Boeing said Wednesday that it earned $519 million during its first quarter, or 70 cents a share. Revenue fell almost 8 percent to $15.2 billion.
Analysts surveyed by Thomson Reuters expected a profit of about 63 cents a share.
McDonald’s
The fast-food giant’s growing sales of value-menu items combined with big gains overseas to boost first-quarter profit more than 11 percent.
For the three months ending March 31, McDonald’s earned $1.09 billion, or $1 a share. Those results included a 3-cents-a-share charge related to closing locations in Japan. Wednesday’s profit compares with earnings of $979.5 million, or 87 cents a share, in the same quarter last year. Revenue rose 10 percent to $5.61 billion.
EBay
The e-commerce provider said Wednesday that its first-quarter profit rose 11 percent as consumers spent more on its main website. But profit fell short of analysts’ forecasts.
EBay said it earned $397.7 million, or 30 cents a share, in the first quarter, compared with $357.1 million, or 28 cents a share, in the same period of 2009. Revenue climbed 9 percent to $2.2 billion.
Massey Energy
The troubled coal producer expects to lose up to $150 million in the second quarter because of the explosion that killed 29 men at its Upper Big Branch mine in West Virginia.
Massey predicted the loss Wednesday as it released lower first-quarter earnings.
Massey earned $33.6 million, or 39 cents a share, in the period. The company earned $43.4 million, or 51 cents a share, in first-quarter 2009. Analysts surveyed by Thomson Reuters expected Massey to earn 28 cents a share in the period.
From Denver Post news services
