Corporate giants report good on Q4 earnings.
February 2, 2005
US markets warmed to strong profit results from billion dollar companies today.
Boeing reported net profits of $186m - down 84% on last year - namely due to closure of its 717 programme. However, this was still above narket expectations. Strong defence contracts helped buoy performance, and the coming Boeing 7E7 Dreamliner gives 2005 a very positive outlook for the company.
News Corp, Rupert Murdoch’s media company, reported an 80% increase in Q4 profits to $386m (£205m). Film and DVD sales suprised analysts by prociing an engine to above-expectation profits - and are expected to provide further growth in 2005.
Google reported Q4 profits of over $204.1m , which again exceeded market expectations, resulting in a stock price’s rise that at one point peaked over 7% in value at $216.80 per share.
Amazon was the only large trader to disappoint. Although a tax credit swelled their Q4 earnings to $346.7m, the site of overall revenues climbing but with little return on net profits left shareholders feeling shunned in lieu of consumers, and devalued the company by over 13%.