Goldman Sachs
The banking giant took a hit to its first-quarter earnings after paying dividends to billionaire investor Warren Buffett’s company, which invested $5 billion in the bank at the height of the financial crisis in 2008.
First-quarter income fell 72 percent to $908 million after Goldman paid $1.64 billion in dividends to Berkshire Hathaway. Goldman said revenue fell 7 percent to $11.9 billion on weakness in some of its core businesses, including stock and bond trading and advising clients.
Intel
First-quarter earnings jumped 29 percent as businesses extended their year-long buying streak and bought lots of new computers. The chipmaker’s net income was $3.16 billion, or 56 cents a share, higher than the 46 cents a share that analysts polled by FactSet expected.
Yahoo
First-quarter earnings sank to $223 million, or 17 cents a share. That’s a 28 percent decline from $310 million, or 22 cents a share, a year ago. Revenue fell 24 percent to $1.21 billion.
Peabody Energy
First-quarter profit rose because of increased demand in the U.S. and higher coal prices in Australia, where recent flooding crimped exports. Net income was $176.5 million, or 65 cents per share, in the January March period.
Johnson & Johnson
Revenue rebounded, but profit fell 23 percent in the first quarter because of higher costs for product recalls and litigation.
J&J posted net income of $3.48 billion, or $1.25 a share, down from $4.53 billion, or $1.62 a share, in 2010’s first quarter. Revenue rose in the quarter by 3.5 percent to $16.17 billion.
IBM
Stronger-than-expected revenue for the first quarter, helped by the weak dollar and strong performance in the U.S. and emerging markets, lifted net income 10 percent to $2.86 billion, or $2.31 per share.
