Google Inc. exceeded analysts’ expectations in its first quarterly earnings report as a public company, propelled by a continued surge in online advertising distributed by its Internet search engine. The company said Thursday that it earned $52 million, or 19 cents a share, during the three months ended in September. That compared to $20.4 million, or 8 cents a share, at the same time last year.
Amazon profits more than triple
Amazon.com on Thursday reported it had more than tripled its third-quarter net earnings, thanks to stronger sales in North America and the rest of the world. Amazon reported net income of $54 million, or 13 cents a share, for the quarter ended Sept. 30.
SEC reviewing Boeing pensions
The Boeing Co. acknowledged on Thursday that it is among the U.S. companies being investigated by the Securities and Exchange Commission for accounting practices involving pension and retiree health care plans. The aerospace giant said it has committed no violations and is fully cooperating with the SEC’s inquiry.
Martha Stewart outlines appeal
Martha Stewart, trying to clear her tarnished name even as she serves a prison term, claims in her appeal that her trial was tainted by a “barrage” of unfair suggestions that she was charged with insider trading. Lawyers for the celebrity homemaker argued in papers made public Thursday that government prosecutors, unchecked by the trial judge, confused jurors about the charges against Stewart. Stewart was charged only with deceiving investigators, not with insider trading. But the appeals brief argues that prosecutors and the trial judge kept the jury from understanding the difference.
Qwest accepts $250 million fine
Qwest Communications has agreed to pay $250 million for “massive financial fraud,” and still isn’t off the hook, government officials said. The Securities and Exchange Commission set the fine, accusing senior managers of directing a scheme to record one-time revenue from the sale of assets as recurring revenue from operations. The SEC said it is also still investigating individuals in the case, and the settlement requires Qwest to cooperate.
Herald news services
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
