Netflix
The subscription video company has regained almost as many customers as it lost following an unpopular price increase, signaling that it is healing from self-inflicted wounds.
Fourth-quarter figures released Wednesday show Net flix Inc. ended December with 24.4 million subscribers in the U.S., up from 23.8 million at the end of September. That gain of about 600,000 customers compares with the loss of 800,000 subscribers last summer after it raised its U.S. prices as much as 60 percent.
Netflix made $40.7 million, or 73 cents a share, in the final three months of last year. That compares with income of $47.1 million, or 87 cents a share, a year earlier. Revenue climbed 47 percent from the previous year to $876 million.
ConocoPhillips
Higher oil prices are making it easier for the energy company to complete a massive transformation this year.
The company said Wednesday that its profit rose 66.1 percent in the fourth quarter even as it produced less oil. Much of that increase came from the sale of pipelines and other assets that became more attractive as the oil they transported rose in price.
ConocoPhillips reported net income of $3.39 billion, or $2.56 a share, for the October-December period, compared with $2.04 billion, or $1.39 a share, a year earlier. Revenue increased 17.2 percent to $62.4 billion.
Boeing
Quicker deliveries of Boeing’s commercial airplanes helped it report a 20 percent jump in fourth-quarter profits and offset sluggish growth in its defense business.
Boeing delivered 128 commercial aircraft, up from 116 a year ago. Profits from those planes jumped 56 percent, and revenue rose 31 percent. It delivered three of its new 787s last year and nine new 747-8 superjumbo jets.
Boeing Co. posted net income of $1.39 billion on Wednesday, or $1.84 a share. It had help from a tax benefit of 52 cents a share. Analysts surveyed by FactSet expected $1 a share.
Revenue was $19.56 billion, also better than expected.
Corning
The glass supplier posted a 53 percent slump in fourth-quarter profit Wednesday and said it is scaling back production of liquid-crystal-display glass because lackluster demand for LCD televisions has led to a steep drop in glass prices.
Corning’s net income fell to $491 million, or 31 cents a share, in the October-December period. That’s down from $1.04 billion, or 66 cents a share, a year earlier.
Excluding one-time items, it said it earned 33 cents a share. That matches the average forecast from Wall Street analysts, according to FactSet. Revenue rose 7 percent to $1.89 billion.
Delta Air Lines
The Atlanta-based carrier made an $854 million profit in 2011, as it brought in higher revenues to cover increased fuel costs while trimming flights and its workforce.
Delta’s 2011 results amounted to $1.01 in diluted earnings per share. A year earlier, Delta had a $593 million profit, or 70 cents a share.
The company said it would have a $1.2 billion annual profit excluding special items in 2011, compared with $1.4 billion excluding special items in 2010.
