Earnings & Sales Reports, Third Quarter | featured news

Apple Inc stunned Wall Street by reporting results that missed expectations for the first time in years, blaming rumors of the new iPhone for hurting demand in the September quarter.

Yahoo Inc has managed to meet low third quarter earnings targets, a rare feat for a company that has continually disappointed investors.

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.

Though it has resisted the slump better than most oil companies, Exxon’s profit fell 68 percent in the quarter.

The New York Times Company reported a $35.6 million loss for the third quarter on falling advertising revenue, but deep cost-cutting and newspaper price increases helped beat projections.

Bank of America Corp. says it lost more than $2 billion in the third quarter as its loan losses continued to rise.