First Quarter Earnings, First Quarter | featured news

The government-backed mortgage financier said it made a profit in the first quarter and that it does not need additional bailout money — a first since the federal government took it over in 2008.

Macy's reported higher fiscal-first-quarter earnings on solid sales gains and constraints on overhead costs.

The Wendy's Co. on Tuesday reported a first-quarter profit that missed Wall Street expectations and cut its forecast for the year, as the hamburger chain struggled in its revival efforts amid higher costs for fresh beef and weaker-than-expected sales.

Washington Post Co. reported a rise in first-quarter earnings that reflected a write-down a year earlier and that masked further weakness in the company's education centers.

GM (GM) posted a profit of $1 billion in the first quarter, beating Wall Street expectations on strong demand in its key North American market. GM also said the U.S. economy was improving and it expected its core North American results in the second and third quarters to largely match the first quarter due to scheduled downtime at its large truck plants.

Comcast Corp., the country's largest cable company, reported a 30 percent profit increase in the first quarter, beating expectations on the strength of Super Bowl advertising and its popular broadband service....

Exxon Mobil Corp. earned less money in the first quarter as costs rose and the Irving oil giant produced less oil and natural gas. Net income dropped to $9.45 billion, or $2 a share, from $10.65 billion, or $2.14 a share, a year ago. Still, revenue rose to $124.05 billion from $114 billion last year.

The first quarter was a sweet one for The Hershey Co. The candy maker said Tuesday its first-quarter profit rose 24 percent as higher prices and cost cutting helped offset rising ingredient costs. The company raised its sales forecast for the year, which sent shares up 5.5 percent near an all-time high that was set nearly seven years ago.

Helped out by special items, Southwest Airlines reported a net income of $98 million last quarter to preserve its 21-year string of profitable first quarters. But excluding those gains, mostly from an increase in value of fuel hedges, the Dallas-based carrier said it lost $18 million.

EBay's first-quarter net income grew 20 percent thanks to higher revenue from its PayPal business and brisk sales at its e-commerce websites. The results beat Wall Street's expectations and investors sent the company's stock higher in after-hours trading.