Google Inc. Google Inc. revved up its fourth-quarter Internet advertising sales and approached $2 billion in quarterly profit for the first time, providing the strongest sign yet that the Internet search leader has shaken off the recession's doldrums. The earnings announced Thursday topped analyst estimates, but revenue only matched forecasts. The Mountain View, Calif.-based company earned $1.97 billion, or $6.13 per share, in the final three months of 2009. That was up dramatically from income of $382 million at the same time last year.
American Express American Express said its profit jumped in the final three months of the year, as the rate of souring loans fell and spending by card members picked up. The New York-based credit card company earned $716 million in the quarter, or 60 cents per share, up from $240 million, or 21 cents per share, in the same period a year ago. On an adjusted basis, excluding discontinued operations, the company earned 59 cents per share, which beat analysts' estimates of 57 cents, according to Thomson Reuters.
Goldman Sachs Group Inc. Goldman Sachs responded to intense criticism of big Wall Street paychecks by putting less money into its bonus pool, a move that helped it earn a record $4.79 billion fourth-quarter profit. The big bank said it rewarded employees with $16.2 billion in salaries and bonuses for 2009. That's up 47 percent from the previous year but much lower than many expected. In all, compensation accounted for 36 percent of Goldman's $45.17 billion in 2009 revenue, the lowest annual ratio since the company went public in 1999.
Southwest Airlines Co. Flying against the headwinds of a recession and volatile fuel prices, Southwest Airlines Co. made money in the fourth quarter and extended its string of annual profits to 37 years. The Dallas-based airline said it earned $116 million in the quarter, which was enough to lift the company to a full-year profit of $99 million after it lost money during the first nine months of 2009.
Continental Continental Airlines Inc. earned a surprising profit in the fourth quarter thanks to higher traffic and lower fuel spending. Chairman and CEO Jeff Smisek said the airline is "seeing some signs that business travel is beginning to head in the right direction." The Houston-based airline said it earned $85 million, or 60 cents per share, in the fourth quarter. Without some special items, including an income tax gain, the company would have earned $4 million, or 3 cents per share. Analysts expected a loss of 7 cents per share.
Xerox Corp. Xerox Corp. said that cost cutting boosted its fourth-quarter earnings, and it forecast a bigger-than-expected profit for this year, when it plans to slash more jobs and fuse with Affiliated Computer Services Inc. to try to jump-start growth. Though sales fell in the fourth quarter as businesses continued to scrimp on new equipment and supplies, Norwalk, Conn.-based Xerox said it earned $180 million, or 20 cents per share.
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