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Deutsche Bank abandons 2011 profit targets

Deutsche Bank, Germany’s largest bank, said Tuesday it will miss itsprofit target for the current year in face of the financial market turbulence. The announcement sent Deutsche Bank shares into a tailspin on theFrankfurt stock exchange, where they were among the biggest losers, shedding 1.56 euros or 6.1 percent to 24.18…

Apple profit rockets with hot iPad, iPhone sales

Apple revenue and profit rocketed to record highs in the recent quarter as sales of iPhones and iPads more than doubled with help from accelerating demand in Asia. Apple said Tuesday that its net profit more than doubled to $7.31 billion on unprecedented revenue of $28.57 billion in the quarter…

Microsoft posts $5.23 billion net profit

SAN FRANCISCO — US software giant Microsoft beat the expectations of Wall Street analysts on Thursday despite the weak market for personal computers. The Redmond, Washington-based Microsoft said net profit rose 31 percent to $5.23 billion in the third quarter of its fiscal year while revenue increased 13 percent to…

Exxon profits soaring amid gas price hikes

HOUSTON (Reuters) – Exxon Mobil Corp’s quarterly profit rose a better-than-expected 69 percent as the world’s largest publicly traded oil company benefited from higher crude prices and better margins for its refineries. The Irving, Texas, company reported a first-quarter profit of $10.65 billion, or $2.14 per share, up from $6.3…

Nintendo announces new console amidst profit slump

TOKYO (AFP) – Nintendo said on Monday it would release a new console next year to succeed its popular Wii, as it reported earnings slumped due to the strong yen and its 3D handheld player came too late to give a lift. The video game giant said the new machine…

Google posts $2.3 billion net profit

SAN FRANCISCO — Google’s share price slid in after-hours trading Thursday as the Internet search giant’s first quarter earnings fell slightly short of Wall Street expectations. Google on Thursday reported a first-quarter net profit on Thursday of $2.3 billion, up from $1.96 billion a year ago, on revenue of $8.58…

Haliburton’s profit rises, tops Wall St. view

NEW YORK (Reuters) – Halliburton Co , the world’s second-largest oilfield services, reported higher quarterly profit as drilling activity in its North American market remained strong. Fourth-quarter net profit rose to $605 million, or 66 cents per share, from $243 million, or 27 cents per share, a year earlier. Excluding…

50 years later, Eisenhower’s grim warning on military profit rings true

The term “military-industrial complex” entered the American lexicon 50 years ago today, when President Dwight Eisenhower warned of its dangers in an unusually frank farewell speech to the nation. “This conjunction of an immense military establishment and a large arms industry is new in the American experience,” Ike said in…

BP quarterly profit nears $2 billion despite largest oil spill in history; Cost replacement profit actually rises

British Petroleum, the oil juggernaut responsible for the worst oil spill in history, posted a nearly $2 billion profit for the third quarter, despite the fact it has been dealing with the costs of its massive spill. “The U.K.-based energy giant said net profit for the three months ended Sept.…

ExxonMobil profit soars 55 percent in third quarter

NEW YORK — ExxonMobil said Thursday its profit soared 55 percent in the third quarter, driven in part by higher energy prices and rising oil production in Qatar. The US energy giant reported net earnings of $7.35 billion, a better- than-expected advance from the $4.73 billion posted in the 2009…

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