Earnings, Second Quarter Earnings | featured news

Costco's fiscal second-quarter net income climbed 39 percent as it pulled in more money from membership fees, sales improved and it recorded a large tax benefit. The wholesale club operator earned $547 million, or $1.24 per share, for the period ended Feb. 17. That compares with $394 million, or 90 cents per share, a year earlier.

Fannie Mae and Freddie Mac, the two mortgage-finance giants, this week reported some of their best quarterly results since the real estate collapse. On Wednesday, Fannie Mae posted second-quarter net income of $5.1 billion. That is up from $2.7 billion in the first quarter of this year and an improvement from a net loss of $2.9 billion in the second quarter of last year. Fannie requested no additional money from the Treasury and said it would pay a $2.9 billion dividend to taxpayers.

The Golden Arches are starting to lose some of their shine. McDonald's Corp. says a key revenue figure came in flat in July, its worst showing in more than nine years, as diners pulled back amid a rough economy. After years of outperforming rivals with a string of popular new items, the snag also suggests competition is intensifying for the world's biggest hamburger chain.

Online ad revenues rose 8 percent at the news division in the second quarter compared with the same period last year, reversing recent declines. But the $2 million increase in online revenues covered only a small part of the $9.9 million decline in print ads.

General Motors said Thursday that its second-quarter profit fell 41 percent as losses in Europe and South America cut into strong North American earnings.

Thomson Reuters Corp. profit rose 64% in the second quarter, helped by no longer having to pay integration expenses from its merger, though the company continued to face sluggish growth in its segment serving financial professionals.

Chrysler reported its second-quarter profit soared as its predominately North American operations shielded it from the European economic slowdown on plaguing its U.S. competitors.

The company reports a swing to an operating profit in its broadcasting unit despite lower revenue, but warns that its return to overall profitability may be delayed.

If Apple Inc's weaker-than-expected quarterly result is anything to go by, the global smartphone industry is a lot more vulnerable to economic shocks these days than during the 2008-2009 financial crisis.

Facebook‘s first quarterly report is inspiring few new friends. The social network swung to a loss in the most recent period, casting fresh doubts on the company’s ability to monetize its giant user base. The Menlo Park, Calif.-based company posted a $157 million, 8 cents a shares, loss in the quarter, down from a $240 million profit. Excluding hefty stock compensation charges, Facebook earned $295 million, 12 cents a share. That meets the Wall Street forecast.