The Walt Disney Co.
The entertainment giant said Tuesday that its net income rose 12 percent in the final quarter of 2011, as cost-cutting helped the company top earnings forecasts even while revenue gains were less than expected. Net income in the October through December period rose to $1.46 billion, or 80 cents a share, from $1.30 billion, or 68 cents a share, a year earlier.
The results beat the 71 cents per share expected by analysts polled by FactSet.
Revenue ticked up 1 percent to $10.78 billion.
Coca-Cola
An effervescent fourth quarter was reported Tuesday, as the soft-drink giant sold more of its products globally and its earnings beat analyst expectations.
Coca-Cola earned $1.65 billion, or 72 cents a share, for the period ended Dec. 31. That’s down sharply from $5.77 billion, or $2.46 a share, a year earlier. But a year ago, the company had a one-time net gain of $1.74 a share, mainly related to buying a bottler’s North American operations. Revenue increased 5 percent to $11.04 billion.
Removing restructuring charges and other items, earnings were 79 cents a share. Analysts forecast 77 cents for the company, according to FactSet.
BP
Quarterly dividends were raised by 14 percent after the oil giant posted double-digit gains in profit and revenue in the last three months of 2011 despite further big payments to compensate for the disastrous oil spill in the Gulf of Mexico.
For the three months ending Dec. 31, BP reported a profit of $7.69 billion, up 38 percent from the $5.57 billion posted a year earlier. Revenue was up 15 percent at $96.3 billion.
Toyota
The annual profit forecast was raised despite a decline in its quarterly profit, as brisker sales in the United States gave the Japanese company a much-needed lift after a year overshadowed by natural disasters.
Toyota’s net profit slipped 13.5 percent to $1.05 billion for the last three months of 2011, hurt by production cutbacks in the aftermath of the massive tsunami in Japan and flooding in the manufacturing hub of Thailand.
But Toyota, the maker of the Camry sedan, also raised its annual profit forecast on the strength of higher sales forecasts, as it rolls out new versions of its popular Prius gas-electric hybrid and Lexus luxury vehicles in the United States and other important markets.
Corporate Earnings
