With the start of another financial year, all the companies are busy with their quarterly revenues and annual revenues estimations. Some have already released their performance in the previous year amid recession. This time, recession seems to have impacted almost all the industries; but there are some companies, which have confronted recession successfully and reported good profits. The gains and losses of the major companies is as follows
- Google has announced slump in quarterly profits for the first time since 17 quarters. For the last quarter of 2008, Google earned profits of $382 million, less by 68 percent from the 3rd quarter of 2007.
- General Electric Co. announced a 46 percent decline in its fourth-quarter earnings.
- Microsoft reported an 11 percent drop in its quarterly profits to $4.17 billion from $4.71 billion profits, a year ago.
- The health care products maker Johnson & Johnson reported a 14 percent increase in fourth-quarter profit, with $2.71 billion earnings.
- Citigroup Inc. is doing very badly these days. It has reported a loss of $8.29 billion in fourth quarter.
- Even Bank of America reported a $2.39 billion fourth-quarter loss. It was successful in convincing government for a $20 billion bailout.
- JPMorgan, which said that it is handling recession better than the other banks, reported a 76 percent drop in profits with a profit of $702 million.
- Sony announced its first annual loses in 14 years with $1.7 billion of net loss.
- Apple Inc reported a record quarterly profit of $1 billions with $7 Billion revenues.
- General Motors has lost its 77-year record, of being top player of the auto industry, to Toyota. GM reported to sell 2.26 million vehicles in the quarter less from 2.35 million vehicle sales of Toyota.
- South Korea’s Samsung Electronics reported a first ever-quarterly loss of US$16.2 million in the previous quarter and a slump of 26 percent in its annual profits.
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