• Coca-Cola Up 12% on Strong International Sales
The Coca-Cola Company unveiled a third-quarter profit increase of 12%, largely thanks to strong international sales in markets like Britain and Spain. Earnings were also boosted by a lower US tax rate and the weaker dollar. Net income rose to $1.22 billion (€1.05bn; £0.729bn) against $1.09 billion year-on-year. Revenue increased 6% from $5.32 billion to $5.66 billion.
• Ford Motor Company Trims Losses
Third quarter trading at the Ford Motor Company, the globe's number two carmaker, underscored the reliance of Detroit manufacturers on profits from their finance units. The company posted a smaller than expected third-quarter net loss on a 71% rise in profits at Ford Credit and raised its full year outlook accordingly. Overall, a net loss of $25 million (€21.59m; £14.95m) compared year-on-year with a loss of $326m. Cost-cutting reduced the pre-tax loss on global automotive operations to $609m, slightly less than expected. Premier Automotive Group which houses Ford's luxury brands (Aston Martin, Volvo, Jaguar and Land Rover) reported a narrowing of losses, down year-on-year from $160m to $22m.
• New York Times Company - Down 15%
The New York Times Company posted Q3 earnings 15% below the same period a year ago, as higher costs of paper and health care coincided with a fall in advertising revenues during July and August. Net income sagged from $59 million (€50.95m; £35.27m) to $50.1m. Revenue rose 4% to $759.3 million from the comparable period's $729.5m.
• The Tribune Company - Down 23%
The publisher of the Los Angeles Times and owner of 26 TV stations reported third quarter earnings of $182.3 million (€157.44m; £108.99m), down 23% year-on-year but reflecting the earlier period's additional income from the sale of radio stations. Revenues at Tribune's biggest unit, publishing, increased 2% to $966.4 million. The biggest climber on a percentage basis was national advertising, rising to $173.7 million, although classified sales were static at $261.8 million.
Data sourced from multiple origins; additional content by WARC staff