Third Quarter Earnings | featured news

Best Buy Co. reported another dismal quarter on Tuesday, recording a loss in the third quarter, hurt by a continued sales slump and charges related to restructuring. Shares fell more than 11 percent in morning trading to its lowest level in more than a decade.

Samsung sold more than 97 million mobile phones in the third quarter, besting Apple’s (NASDAQ: AAPL) iPhone by more than 74 million units. According to Gartner (NYSE: IT), nearly 428 million mobile phones were sold during the quarter. Approximately 23.5 million of those phones were manufactured by Apple — 97.9 million were made by Samsung.

Inventories at U.S. wholesalers rise at the fastest pace this year in September, adding to evidence that 3Q growth may have been stronger than initially thought.

J.C. Penney Co. reported a bigger-than-expected loss in the third quarter on plummeting sales as customers continue to reject its move get rid of blockbuster sales in favor of everyday low pricing.

Groupon’s quarterly loss narrowed as the online-coupon service cut marketing costs but revenue growth continued to slow. Its shares tumbled after hours.

The U.S. trade deficit narrowed in September as exports increased, suggesting the economy expanded more than previously believed in the third quarter.

Wendy's says its net loss widened in the third quarter as it paid off debt, but noted that a key sales figure rose. The company, which is in the midst of a turnaround push, says revenue at restaurants open at least 15 months rose 2.7 percent, marking the sixth straight quarter of growth.

Kraft Foods' net income rose 13 percent in the third quarter, the food maker said Wednesday, as new products and increased advertising helped it top Wall Street expectations.

Shares in AOL have jumped 14% after the US internet firm reported a sharp rise in advertising revenues. Advertising sales jumped 7% to $340m (£212m), boosting net profit for the third quarter to $20.8m, compared with a loss of $2.6m a year ago.

Washington Post posted a profit as the company recorded fewer restructuring charges, although revenue was flat as its education division continued to struggle.