Bank of America
The Charlotte, N.C.-based bank earned $6.2 billion in the third quarter on accounting gains and the sale of a stake in a Chinese bank, which offset lower revenue and income in its credit card, real estate and investment banking businesses. BofA also is no longer the largest bank in the nation by assets, which fell to $2.21 trillion in the quarter. JPMorgan Chase reported total assets of $2.28 trillion. BofA earned 56 cents a share, following a loss of $7.3 billion, or 77 cents a share, in the same quarter last year.
Apple
Quarterly profit fell short of analysts’ predictions for the first time in at least six years as customers put off purchases of iPhones before the release of the latest version. Fourth-quarter profit was $6.62 billion, or $7.05 a share, compared with $4.31 billion, or $4.64 a share, a year earlier, Apple said Tuesday. Revenue was $28.3 billion. That missed analysts’ predicted profit of $7.31 a share, the first time Apple disappointed in at least 26 quarters.
Yahoo
Third-quarter earnings fell 26 percent as a continued revenue decline outpaced cost reductions at the Internet giant, which is in a state of flux following the dismissal of its chief executive last month. Yahoo posted a third-quarter profit of $293.3 million, or 23 cents a share, compared with $396.1 million, or 29 cents a share, in the period a year earlier. Total revenue decreased 24 percent, to $1.22 billion.
Johnson & Johnson
Third-quarter profit fell 6 percent as continuing product recall costs, rising generic competition and costs tied to an acquisition more than offset higher foreign sales. The maker of baby products, medical devices and biologic drugs said net income was $3.2 billion, or $1.15 a share. That’s down from $3.42 billion, or $1.23 a share, a year earlier. Total revenue rose nearly 7 percent to $16 billion.
Intel
Another record quarter — its sixth in a row for sales — helped the company shrug off worries about a softening PC market and benefit from strength in notebooks, emerging markets and its business products.
For the latest quarter, Intel posted a profit of $3.47 billion, or 65 cents a share, up from $2.96 billion, or 52 cents a share, a year earlier.
