UAL Corp.
The parent of United Airlines, which plans to merge with Continental Airlines Inc., posted profit that exceeded analysts’ estimates on fuller planes and higher fares.
Second-quarter profit excluding some costs was $430 million, or $1.95 a share, topping the $1.75 average of 12 analysts’ predictions compiled by Bloomberg. That compares with a loss of $321 million, or $2.21 a share, a year earlier, the Chicago-based company said Tuesday in a statement.
Revenue jumped 28 percent to $5.16 billion as United took advantage of increasing business and leisure travel by raising fares.
Goldman Sachs Group Inc.
The nation’s largest investment bank said second-quarter profit slumped 82 percent from the year-ago period, reflecting a big pullback in risk- taking by clients worried about the global economy.
Profit also was sideswiped by $1.15 billion in one-time charges to settle a Securities and Exchange Commission case and resolve a British tax on bank bonuses.
Goldman reported net income slid to $613 million, or 78 cents a share, from $3.43 billion, or $4.93 a share, in the year-ago quarter. Revenue fell 36 percent to $8.84 billion.
Apple Inc.
The gadget maker blew past expectations when reporting results for its latest quarter Tuesday, selling almost as many of its new iPad tablets as it sold Mac computers.
Apple said net income rose 78 percent to $3.25 billion, or $3.51 per share, from $1.8 billion, or $2.01 per share, a year ago.
Revenue for the April-to- June period rose 61 percent from last year to $15.7 billion, making it the company’s highest quarterly revenue ever.
Analysts surveyed by Thom son Reuters had forecast net income of $3.11 per share.
Yahoo Inc.
The Internet company’s turnaround effort wavered in the second quarter from lackluster revenue growth.
The company earned $213 million, or 15 cents per share, in the three months ending in June. That represented a 51 percent increase from net income of $141 million, or 10 cents per share, at the same time last year. The earnings were a penny above the average estimate among analysts polled by Thomson Reuters.
Revenue for the period edged up 2 percent to $1.6 billion.
Harley-Davidson Inc.
A profit at its motorcycle-financing unit and stabilizing bike sales sent net income soaring in the second quarter, but the company cautioned that the market for its high-end two- wheelers will remain challenging this year.
Harley’s net income in the three months ended June 27 totaled $71.2 million, or 30 cents per share. That compares with net income of $19.8 million, or 8 cents per share, in the same period last year.
Revenue from motorcycles and related products was flat at $1.14 billion.
Johnson & Johnson
Repeated recalls of popular Johnson & Johnson nonprescription medicines kept second-quarter revenue flat and forced J&J to cut its profit forecast, but a big drop in its tax rate enabled it to pull off a 7.5 percent increase in net income.
J&J said its net income for the quarter was $3.45 billion, or $1.23 per share. That’s up from $3.21 billion, or $1.15 per share, a year earlier. The improvement was the result of a $284 million drop in taxes paid for the quarter.
UnitedHealth Group
The health insurer said Tuesday its second-quarter profit rose 31 percent as its commercial business did better than expected.
UnitedHealth said it earned $1.12 billion, or 99 cents per share, in the three months ended June 30. That’s up from $859 million, or 73 cents per share, in the same period last year. Revenue grew 7 percent to $23.26 billion. Analysts polled by Thomson Reuters forecast earnings of 75 cents per share.
