General Electric Co.
Cost-cutting and an improved financial business helped the industrial and financial giant post its first increase in quarterly profit since 2007 on Friday, but sales stayed sluggish.
GE’s quarterly net income rose 16 percent to $3.0 billion, or 28 cents a share, up from $2.6 billion a year earlier. Revenue slid 4.3 percent to $37.4 billion.
Mattel Inc.
Parents snapped up toys tied to the box-office smash “Toy Story 3” in spring and early summer, helping the toymaker’s second-quarter net income more than double.
The maker of Barbie and Hot Wheels said its net income rose to $51.6 million, or 14 cents per share, from $21.5 million, or 6 cents a share, last year. Revenue gained 13 percent to $1.02 billion.
Gannett Co.
The largest U.S. newspaper publisher and parent of KUSA-TV Channel 9 moved closer to ending a 3 1/2-year slump in print advertising during the second quarter.
Net income for the period totaled $195.5 million, or 81 cents per share, up from $70.5 million, or 30 cents a share, a year earlier. Excluding one-time items, Gannett would have made 61 cents a share. Revenue declined 2 percent to $1.37 billion.
