Freddie Mac
The bailed-out mortgage giant reported earning $676 million in the January-March quarter, its first quarterly gain in nearly two years.
The government-controlled company requested no additional federal aid after receiving $13 billion over the past four quarters.
But even with the net income gained, Freddie Mac posted a 29-cents-per-share loss attributable to common stockholders. That’s because the loss takes into account $1.6 billion in dividend payments to the government. That compares with a loss of $1.7 billion, or 53 cents a share, in the October-December quarter.
Whole Foods Market Inc.
Rising sales helped the natural and organic grocer’s second-quarter net income rise 33 percent and beat analysts’ expectations, the company said Wednesday.
Whole Foods raised its full-year earnings outlook, and its shares rose almost 4 percent after hours.
Whole Foods earned $89.9 million, or 51 cents per share, for the quarter that ended April 10. That’s up from $67.5 million, or 39 cents per share, a year earlier. Revenue rose 12 percent to $2.35 billion.
Analysts on average had expected it to earn 46 cents per share, according to FactSet.
News Corp.
The media conglomerate said Wednesday that net income for its latest quarter fell 24 percent as the afterglow of its blockbuster movie “Avatar” faded. A boost from the Super Bowl, broadcast by the company’s Fox network this year, wasn’t enough to make up for it.
Net income for the fiscal third quarter, which ended in March, dropped to $639 million, or 24 cents per share. That compared with earnings of $839 million, or 32 cents per share, a year earlier. Revenue fell 6 percent to $8.26 billion.
Kellogg Co.
First-quarter net income fell 12 percent as the world’s largest cereal maker dealt with higher ingredient costs and spent more on marketing and new products. Kellogg earned $366 million, or $1 per share, for the quarter, compared with $418 million, or $1.09 per share, a year earlier. Revenue climbed 5 percent to $3.49 billion. The results missed profit forecasts.
