Third Quarter Earnings | featured news

U.S. consumer spending got off to a fairly firm start in the third quarter, rising by the most in five months and offering hope economic growth would pick up this quarter. Other data on Thursday showed the number of Americans filing new claims for jobless benefits held steady last week.

U.S. economic growth was slower than previously estimated in the third quarter on a sharp drop in healthcare spending.

The third quarter’s gross domestic product grew at a 2.0 percent annual rate, the Commerce Department said in a revised estimate, down from the previously estimated 2.5 percent.

Dish Network, the smaller of the nation's two satellite broadcasters, saw profit and revenue rise last quarter but lost 111,000 subscribers, citing intense competition -- including heavy discounting by rivals -- a weak housing market and lower discretionary spending by consumers.

Dutch financial services group ING is to cut 2,700 staff and contract jobs, it said on Thursday in announcing third-quarter results, slashing the headcount at its Dutch retail banking operations by 10 percent in the face of deteriorating markets.

MasterCard Inc reported sharply higher third-quarter profit on Wednesday, easily beating Wall Street estimates on double-digit increases in volumes.

In the third quarter of 2011, Samsung was the king of the smartphone world, with one report showing the domination of the manufacturer overtaking Apple's global reign.

Chinese search engine Baidu reports an 80% surge in profits for the third quarter, boosted by increased advertising sales.

Fiat-Chrysler's third-quarter trading profit was well above forecasts at 851 million euros, with U.S. automaker Chrysler contributing as much as two-thirds of it and helping offset weak European sales.

The economy grew at an annual rate of 2.5% in the three months ending Sept. 30, the government reported, easing fears that the nation would fall into a second recession but still too slow a pace to cut significantly into the high unemployment rate.