Amazon.com’s revenue rose more than Wall Street expected in its fiscal third quarter, but the online retailer posted another loss due to ongoing investments in its business.
Steady profits have proven elusive for the world’s largest online retailer as it spends heavily on filling orders, marketing and technological improvements and innovations. But investors were cheered by its revenue forecast for the fourth quarter, a sign of confidence and optimism as it enters the key holiday shopping season.
The Seattle-based company posted a loss of $41 million, or 9 cents per share, for the quarter that ended in September, matching analyst expectations. That compared with a loss of $274 million, or 60 cents per share, in the same quarter last year. The prior year includes a one-time $169 million loss related to its stake in online deals site LivingSocial.
Revenue jumped 24 percent $17.09 billion from $13.81 billion. — AP
Zynga Inc., reporting on its first quarter under Chief Executive Officer Don Mattrick, had a smaller-than-expected loss as purchases of items used in games exceeded the company’s forecast.
The third-quarter loss, excluding items, amounted to 2 cents a share, San Francisco-based Zynga said Thursday. Analysts had forecast a loss of 4 cents. Revenue declined to $202.6 million from $316.6 million a year ago, beating analysts’ projections of $190.2 million. — Bloomberg News
DEARBORN, Mich. — Ford is raising its full-year profit guidance after a strong third quarter that saw improving sales worldwide, including in past trouble spots like Europe and South America.
Ford earned $1.3 billion, or 31 cents per share, down 14 percent from a year ago. The decline was due to special items, including a $250 million charge for restructuring in Europe. Without those, Dearborn-based Ford Motor Co. reported a pretax profit of $2.6 billion, or 45 cents per share. That was a record for the third quarter.
Revenue rose 12 percent to $36 billion. Ford sold 1.5 million cars and trucks in the quarter, up 16 percent.
The company increased sales and gained market share in each of its regions thanks to an influx of new vehicles. — AP
REDMOND, Wash. — Microsoft said Thursday that its net income rose 17 percent in its fiscal first quarter despite a decline in Windows revenue from manufacturing partners as its enterprise software business grew.
Net income in the three months to Sept. 30 grew to $5.24 billion, or 62 cents per share, from $4.47 billion, or 53 cents per share, a year ago.
That beat the 54 cents expected by analysts polled by FactSet.
Revenue rose 16 percent to $18.53 billion, also beating the $17.79 billion analysts were expecting. — AP
MINNEAPOLIS — 3M Co. said Thursday that its third-quarter net income rose 6 percent, beating Wall Street predictions.
The company, which makes items including Post-it notes, reflective coatings for signs, and glues and adhesives, earned $1.23 billion, or $1.78 per share, up from $1.16 billion, or $1.65 per share, in the same quarter of 2012.
Revenue rose 6 percent to $7.92 billion from $7.5 billion.
Maplewood, Minn.-based 3M gets more than half of its revenue from outside the U.S. and its products are used in a variety of industries, so its results are watched closely as an economic indicator. — AP
NEW YORK — AT&T’s third-quarter profit and revenue increased as the nation’s largest telecommunications company added more smartphone and broadband subscribers.
AT&T Inc. said Wednesday that its net income was $3.81 billion, or 72 cents per share, in the July-September quarter, up 5 percent from $3.64 billion, or 63 cents per share, in the same period a year ago.
Revenue grew 2 percent to $32.16 billion from $31.46 billion, slightly below what analysts were expecting.
Wireless revenue, which includes equipment sales, grew 5 percent to $17.5 billion. AT&T said it added nearly 1 million net wireless subscribers in the third quarter. It added 566,000 wireless devices to its contract-based plans, which are the most lucrative. — AP