Third Quarter | featured news

Bank of America reported a $6.2 billion profit for the third quarter as gains from assets sales and positive accounting changes outweighed weaker results in its trading business and continued losses in its huge mortgage portfolio.

Economic growth in China during the third quarter of the year is expected to have slowed as a result of government measures to curb inflation.

itigroup's strategy of slimming down and focusing on a few core businesses is paying off. The New York bank reported third quarter earnings rose 74 percent in the third quarter, to $3.8 billion, due to lower losses from loans and an accounting gain. Its international consumer lending business grew in Asia and Latin America. The bank also decided to keep its credit card partnership with retailers as that business improved.

PepsiCo Inc.'s third-quarter profit rose 4 percent because of higher prices and strong sales of its snacks and beverages, especially overseas.

New York Times Co. expects ad revenue to fall a steeper-than-expected 8% in the third quarter, with as much as a 3% decline in digital-ad sales.

Netflix Inc. lowered its expectations for U.S. subscribers for the third quarter by 4 percent on Thursday, just weeks after separating its DVD and streaming services, which increased...

The U.S. Postal Service posted a net loss of $3.1 billion in its third quarter and warned again it would default on payments to the federal government if Congress did not step in.

The Washington Post Co. on Friday reported a 50 percent drop in second-quarter earnings, with revenue continuing to plummet in the Kaplan Higher Education Unit and both the online and print operations of the newspaper division seeing declines in advertising revenue. Overall profits for the quarter that ended July 3 totaled $45.6 million ($5.74 per share), the company said, compared with $91.9 million ($10.00 per share) a year earlier. Revenue increased at The Post Co.’s television broadcasting and cable television divisions.

Viacom says its net income and revenue grew in the latest quarter, handily surpassing Wall Street's expectations thanks to the strength of MTV, Comedy Central and other networks....

Sales of previously owned U.S. homes rose in November, offering the latest sign the economy was ending the year on a more solid footing after a sluggish third-quarter performance.