In the battle between Apple-obsessed bloggers and Wall Street professionals charged with making calls on the company’s quarterly earnings, the wonky financiers took a hefty drubbing, according to analysis by Philip Elmer-DeWitt at Fortune.
By Elmer-DeWitt’s reckoning, the top nine calls made about Apple’s recent fiscal first-quarter earnings release came from bloggers. Read More
Apple Computer, a technology company that makes iPads, iPhones, iMacs and other gadgets, today reported earnings, and apparently its numbers were very good compared with Wall Street’s expectations.
MarketWatch provides an early look. Apple reported fiscal first-quarter net income of $6 billion, or $6.43 a share, up from net income of $3.38 billion, Read More
Just as fellow enormous bank JPMorgan Chase did last week, Citigroup reported solid third-quarter earnings today. And like JPMorgan Chase, the bank suffered from slight weakness on the revenue side and bolstered profit by reducing the amount of cash it set aside to protect against losses on its loan portfolio.
The company’s bottom Read More
Everybody's Favorite Banker
After he used his “fortress balance sheet” during the 2008 financial crisis to emerge stronger than ever, winning America’s heart in the process, one would think that a $4.4 billion third-quarter profit would be a fairly pedestrian matter for JPMorgan Chase CEO Jamie Dimon. Fortunately, we don’t have to guess what Dimon thinks, because he’s Read More
Yesterday morning New York Times Co. announced in a release that it is is performing below expectations in several important financial measures for the third quarter. Total revenue is down more than expected, digital advertising revenue is up less than expected and operating costs are up. CEO Janet Robinson announced the news in person Read More
The Wall Street Journal reported this morning on Washington Post Co. chairman Donald Graham’s recent hands-on approach to Kaplan, his money-making college test prep business (they issue degrees now, too). There was one line — sort of a timely reminder — halfway into the piece:
In the two most-recent fiscal years, Post Co.’s Read More
After a second-quarter earnings call yesterday, stock for Martha Stewart Living Omnimedia Inc. took at 12 percent drop. Bloomberg Businessweek attributes the movement to loses suffered by the company’s publishing group, where operating income fell 30 percent. The spring issue of Martha Stewart Weddings, which bolstered the company’s second quarter last year, counted Read More
Keith Kelly has called OK! magazine the most expensive magazine launch in the history of American publishing.
After the first 223 issues of the American edition, which began in August of 2005, losses total $175.7 million or $787,000 per issue through the end of 2009.
UK-based parent company Northern & Shell initially swept Read More
Cablevision Systems reported a three-fold increase in net income for the first quarter, thanks to a slew of new subscriptions and robust cable ad revenues.
Revenue rose 5 percent, to $1.75 billion, slightly higher than the average estimate of $1.73 billion. A highlight was a 35 percent increase in cable advertising revenue. Revenue Read More
CBS lost less money in the first quarter than one year ago, according to the network’s earnings report yesterday.
The company, which owns the CBS television network and local stations, reported a net loss of $26.2 million in the first quarter, an improvement from a loss of $55.3 million a year earlier. Excluding Read More