Broadcom 4th quarter profit drops
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Semiconductor maker Broadcom Corp., whose chips are used in cell phones and Apple's iPod, said fourth-quarter profits plunged 76 percent on charges related to how it previously accounted for stock options grants.
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The manufacturer said earnings fell 54 percent from a year-ago period which included its former health-care and electronics units. Adjusted profit topped Wall Street expectations by a wide margin.
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The aluminum maker said second-quarter profit slipped nearly 4 percent as outage costs at two smelters weighed down results.
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Fourth-quarter profit fell by 9 percent as energy prices declined, but the company still ended up with its third consecutive year of record earnings.
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Shares of the worldâs biggest maker of mobile networks fell 24% after announcing a drop in third-quarter profit amid weaker demand for equipment in Europe and the U.S.
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The diversified manufacturer said its fiscal first-quarter profit fell 54 percent from a year earlier, when it still owned its health care and electronics businesses.
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Weak home and hardware sales drive lower fourth-quarter profits.
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Mobile phone maker Sony Ericsson said fourth-quarter profit fell almost 17 percent as higher costs more than offset the effect of a rise in shipments.
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Texas Instruments Inc  reported  lower quarterly profit and revenue on Monday as weak demand for  calculators outweighed improving sales of advanced phones that  use its wireless chips.
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The countryâs largest newspaper publisher said Friday that its fourth-quarter profit dropped because of a decline in broadcasting revenue and weak newspaper ad sales.
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By The Orange County Register, Calif.  Dec. 19--Chipmaker Broadcom Corp. said it canceled more than $37 million  in stock options for three former employees after finding that they adjusted  the dates of the options to maximize their value.
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Wachovia Corp, the fourth-largest U.S. bank, on Tuesday said quarterly profit fell a larger-than-expected 98 percent, hurt by a surge in bad loans and credit losses amid mortgage and capital markets turmoil.
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BellSouth Corp. BLS.N, the No. 3  U.S. telecommunications company, on Tuesday said its  fourth-quarter operating earnings fell due to lower profits  from its stake in Cingular Wireless and higher costs in its  wireline telephone business.
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Fourth-quarter profits fell at Texas Instruments Inc., although the big maker of chips for cell phones beat Wall Street's expectations.
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Computer chip maker Infineon Technologies AG posted a 10 percent drop in net profit for the fourth quarter after taking large charges to cover potential civil claims from U.S. and European antitrust actions, the company said Tuesday.
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Microchip maker Broadcom Corp.   on Friday said an internal review had uncovered  discrepancies in its accounting for stock options grants and  that it would restate earnings as far back as 2000.
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The companyâs shares plunged 15.9 percent to a nearly four-year low of $10.36 in morning trading after its net profit fell 84 percent in the fourth quarter.