Earnings roundup: Wells Fargo 3Q profit rises, eBay 3Q net income down though revenue rose
By APWednesday, October 21, 2009
Earnings roundup: Wells Fargo, eBay
Among the earnings stories for Wednesday, Oct. 21, from AP Financial News:
Top stories:
NEW YORK (AP) — Wells Fargo & Co. reported a $2.6 billion third-quarter profit as the company’s retail banking operations, including the businesses it acquired with the purchase of Wachovia Corp., offset rising loan losses.
Other stories:
SAN FRANCISCO (AP) — EBay Inc. said that even as third-quarter net income dipped 29 percent, its revenue rose largely because more people and merchants are using PayPal to pay for things online.
JACKSONVILLE, Fla. (AP) — FIS, which provides technology services to financial firms, said its third-quarter profit jumped 55 percent as lower costs offset reduced software license and professional service revenue.
FREMONT, Calif. (AP) — Lam Research Corp., which makes equipment for the semiconductor industry, said its third-quarter profit nearly doubled as it slashed costs and boosted margins, blowing past Wall Street expectations for a loss.
PRINCETON, N.J. (AP) — Drug development services company Covance Inc. said its third-quarter profit remained flat as higher expenses offset a boost in revenue from late-stage development contracts.
UNDATED (AP) — Boeing’s ambitions seem to have outflown its abilities, as the company’s plans to reinvent the way jetliners are built keep faltering, forcing it to post a big loss in the third quarter.
SAN JOSE, Calif. (AP) — Novellus Systems Inc., which makes equipment for producing computer chips, said it lost $4 million in the third quarter amid a sharp downturn in sales.
ATLANTA (AP) — Aaron’s Inc. said its third-quarter profit climbed nearly 17 percent as more cash-conscious customers chose to rent furniture, appliances and electronics rather than buy them.
