Fourth Quarter Earnings, Quarterly Earnings | featured news

Apple Inc missed revenue expectations for the third straight quarter after sales of its flagship iPhone came in below Wall Street's targets, driving its shares down 6 percent.

If the latest week of earnings season has told investors anything, it is that strong banks and energy companies are getting stronger, while weaker banks and technology companies are far from conquering the challenges they have faced in the last few years.

EBay Inc reported holiday quarter results that just beat Wall Street expectations, but the e-commerce company also gave a cautious forecast for 2013. EBay shares climbed 1.7 percent to $53.80 in after-hours trading following the announcement. Expectations were high ahead of the results because sales data from outside sources suggested strong sales growth from eBay's online marketplace and a solid increase in transactions processed by the company's PayPal payments business.

Apple Inc. regained some momentum in its fourth quarter, selling more iPhones than expected while triggering some concerns about the iPad. But the results ratcheted up the pressure on the company for the current holiday quarter. The company is preparing to market a new set of products and is grappling with making enough iPhones.

Walgreen's fiscal-fourth-quarter earnings fell 55% as less customer traffic at the drugstore chain contributed to a steeper-than-expected sales decline.

Microsoft Corp. (MSFT) had a bigger gain in multiyear software deals than analysts predicted last quarter, a sign that businesses are flocking to the company’s programs as consumers delay purchases or opt for competitors.

Best Buy Co reported weaker-than-expected sales for the key holiday quarter, prompting the world's largest electronics chain to close 50 U.S. stores and cut 400 jobs in corporate and support areas.

Berkshire Hathaway Inc. said fourth- quarter profit fell 30 percent on smaller gains from Warren Buffett’s portfolio of derivatives.

Sales of new homes dipped in January but the final quarter of 2011 was stronger than first estimated.

Target Corp. is reporting a 5.2 percent drop in earnings for the fourth quarter, as the retailer pushed big discounts to get tight-fisted shoppers to buy during the holiday season.