Phones, flat-panel TVs spark LG's profit
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LG Electronics said Thursday its fourth-quarter net profit was more than 12 times greater than earnings in the same period a year ago amid record mobile phone sales and a turnaround in its flat panel subsidiary.
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Circuit City Stores Inc. on Monday  posted a quarterly profit compared with a loss a year earlier,  boosted by strong sales of high-ticket items like flat-panel  televisions and digital music players.
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Verizon Communications (NYSE: VZ) posted profit of US&#36;1.796 billion for its third quarter, up from &#36;1.791 billion a year ago. The company attributed the slight rise to its wireless segment, which brought in an additional 1.7 million wireless customers.
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Sales, led by increasingly affordable flat-panel TVs, are expected to be strong.
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LG Electronics Inc., South Korea's biggest maker of home appliances, said Tuesday its third-quarter net profits rose more than 30 percent on brisk sales of mobile phones.
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Falling flat screen prices hit Samsung's quarterly profits.
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Handheld maker's revenue buoyed by strong sales of phones, other devices; after-hours shares fluctuate wildly.
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Matsushita Electric Industrial Co. Ltd.,  the maker of Panasonic brand products, reported a 5 percent  rise in quarterly operating profit, driven by robust sales of  flat TVs, and it kept its full-year outlook.
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National Semiconductor Corp. posted a higher quarterly profit Thursday, with sales in line with its reduced forecast on lower-than-expected demand for flat-panel displays and from Chinese wireless handset makers.
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Robust demand for cheaper phones lifted third-quarter earnings and the better than expected results sent the companyâs shares sharply higher.
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Samsung Electronics posted a 46 percent gain in earnings, despite a dip in its cell phone and telecom-equipment business. Separately, Sony Ericsson posted a 29 percent year-over-year increase in sales during the third quarter.
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Samsung Electronics Co. Ltd. reported a  42 percent drop in quarterly operating profit on a slide in  mobile phone margins and falling flat-screen prices, but its  shares rose 6 percent as it predicted a turnaround.
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South Korea's LG Electronics Inc.  swung to a profit in the second quarter as a turnaround in its LCD venture and strong mobile phone sales outweighed heavy losses in its plasma display business.
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The Lenovo Group, the personal computer maker, said its profit rose more than 600 percent in its latest fiscal year as it increased sales and restructured after its acquisition of I.B.M.âs PC unit. Profits were $161 million for the year, up from $22 million in the prior year. The Americas operations returned to profitability in the fourth quarter, meaning that all the global regions were profitable for the first time, the chief executive, William J. Amelio, said. Sales for the year, which ended March 31, rose 9.9 percent, to $14.6 billion, helped by strong sales of laptop and desktop computers in its home China market, Lenovo said. The company said its worldwide market share rose 0.2 percentage points, to 7.4 percent.
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Circuit City Stores Inc. CC.N on   Wednesday reported higher-than-expected quarterly profit driven   by strong sales of flat-panel televisions and laptop computers   during the back-to-school shopping season.
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Flat screen maker LG.Philips LCD Co Ltd  reported its highest ever quarterly profit on Monday and predicted even better profits for 2008, but voiced concerns over a potential return to oversupply in early 2009.
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AT&amp;T&#160;reported net income of $3.1 billion for the third quarter of 2007, up from $2.2 billion a year earlier, largely due to its&#160;acquisition of BellSouth.AT&amp;T nearly doubled its revenue from a year ago, going from $15.6 billion to $30.1 billion, but those 2006 numbers don&#39;t factor in the BellSouth acquisition and revenue from Cingular Wireless, which AT&amp;T and BellSouth co-owned. The BellSouth deal closed Dec. 29, 2006.AT&amp;T&#39;s revenue was up 3.2 percent from the combined revenue from AT&amp;T, BellSouth, and Cingular in the third quarter of 2006. Comparable earnings per share were $0.50 compared to $0.56 the third quarter of 2006.AT&amp;T&#39;s adjusted third-quarter earnings, which exclude costs and accounting effects associated with the acquisition, were $4.3 billion, or $0.71 per diluted share, up from $2.4 billion, or $0.63 per diluted share, in the third quarter of 2006.AT&amp;T&#39;s third-quarter results were &quot;excellent,&quot; Randall Stephenson, AT&amp;T chairman and CEO, said in a statement. Stephenson cited growth in wireless, broadband, and U-verse TV customers as the reason for a strong quarter.AT&amp;T&#39;s renamed wireless division saw an increase in 2 million customers in the quarter, the company said. The company&#39;s wireless division now has 65.7 million subscribers.AT&amp;T&#39;s merger integration efforts are on schedule, the company said, and cost savings are running ahead of the original estimates. In the first three quarters of 2007, cost savings from the BellSouth merger were about $2.8 billion, and AT&amp;T expects those savings to reach more than $3 billion for the year.Wireless data revenue increased 63.9 percent from last year, driven by increases in consumer and business data usage, including messaging, media bundles, laptop connectivity, and smart phone connectivity, AT&amp;T said.In the broadband space, AT&amp;T&#39;s connections, including DSL (Digital Subscriber Line), AT&amp;T U-verse, and satellite broadband services, increased by 499,000 in the quarter to reach 13.8 million. That&#39;s up 2.2 million, or 18.6 percent, over the past year.