Financial Roundup

26 July 2004

Global (calendar Q2)
Although reporting its fourth consecutive profitable quarter, sales and earnings fell short of analysts' expectations. The world's biggest internet retailer said earnings for the second quarter rose to $76 million (€62.70m; £41.48m) from a loss of $43m the year before.
    Operating income rose to $86m from $42m a year ago, while net sales increased 26% to $1.39bn from $1.10bn. Sales rose 22%.
    North American sales rose 13% to $792m during the quarter, while international sales jumped 50% to $595m. Excluding favorable currency exchange rates, international sales were up 38%.

Global (calendar Q2)
The world's largest soft drink maker reported a 16% jump in net profit, boosted by a weak US dollar and modest growth in sales of its soft drinks, juices and bottled waters.
    Overall sales, as measured by volume, rose a torpid 1%. Volume in North America, Coca-Cola's key market, was up 2% in the period due largely to strong sales of the company's diet soft drinks.
    Net income rose to $1.58 billion (€1.30bn; £862.40m), compared year-on-year with a profit of $1.36 billion. Revenue rose to $5.97bn from $5.70bn, boosted 6% by weakness in the US dollar and other currency fluctuations.

Global (calendar Q2)
The planet's biggest fast-food company notched quarterly earnings up 25% as the success of meal-sized salads in Europe and other promotions led to its best second quarter sales growth since 1987.
    Net income increased to $591 million (€487.54m; £322.58m) from $471 million in the year-ago period. Revenue increased 10% to $4.7 billion, with group sales growing 11%.

Global (calendar Q2)
The continuing boom in personal computer and server sales drove revenues up by 15% in the quarter while the software giant's Everest of cash swelled to more than $60 billion (€49.5bn; £32.75bn).
    Revenues jumped to $9.3bn, compared with expectations of $9bn, while net income rose more than 80% to $2.69bn. Operating profits at $3.1bn were $400m higher than expected, while the company also forecast revenue growth for its next financial year of between 4.3% and 5.3%.

USA (calendar Q2)
Sears Roebuck
The largest U.S. department store chain reported an 83% drop in earnings -- well and truly undershooting Wall Street's expectations. Net income was $53 million (€43.72m; £28.93m), down year-on-year from $309m million.
    Revenue was $8.8 billion, down 14% from $10.2bn a year earlier (before Sears sold its credit business to Citigroup). The company took two charges for the quarter: $41m for severance costs associated with the restructuring of its home office structure and related field initiatives; plus $39m for an additional depreciation expense.

Global (calendar Q2)
The multinational media mammoth reported a 7% year-on-year increase in revenues to $6.8 billion (€5.61bn; £3.71).
   Net income was $754m, up 14%, fueled by especially strong gains in upfront advertising time sold for the 2004-2005 season (the MTV networks enjoyed a 24% increase and African-American cable channel BET a 26% gain).

Data sourced from multiple origins; additional content by WARC staff