The world's largest publicly traded oil company says third-quarter profit tumbled with crude prices, but like other big energy companies, production is bouncing back.
Exxon Mobil Corp. (XOM) reported Thursday that profits from July to September dropped 68 percent to $4.73 billion, or 98 cents per share.
Exxon depends on oil and gas production for more than two-thirds of its earnings. The company's petroleum production increased by 3 percent from the same period last year, though crude fetched an average of $50 less per barrel.
The Procter & Gamble Co. (PG) says profit dropped slightly in its first quarter, as consumers around the world kept tight reins on spending for such household items as laundry detergent and shavers.
But the world's largest consumer products company sees signs of a rebound in results that were better than expected, and a better sales outlook for the rest of the year.
The maker of Tide and Pampers reported profits were off 1 percent at $3.35 billion, or 1.06 per share, compared to $3.31 billion, or $1.03 per share, a year ago. Sales fell 6 percent to 19.8 billion.
Analysts expected earnings of 99 cents on $19.83 billion for P&G, which is based in Cincinnati.
Also: P&G Could Put a Shine on Your Portfolio
Motorola (MOT) is reporting an unexpected profit for the third quarter as operating losses in its struggling mobile phone division narrowed.
Its shares are jumping more than 5 percent in premarket trading.
The company based in Schaumburg, Illinois, said it earned $12 million, or a penny per share, in the three months ended Oct. 2. It lost $397 million, or 18 cents per share, in the period a year ago.
Excluding unusual items, Motoroola says its adjusted earnings were 2 cents per share. Analysts had expected a break-even quarter.
Motorola Inc. says its sales fell 27 percent to $5.4 billion. Analysts were looking for $5.5 billion.
Sprint Nextel's (S) losses grew in the third quarter as wireless subscribers continued to leave for other carriers.
The wireless carrier on Thursday reported a quarterly loss of $478 million, or 17 cents per share, compared with a loss of $326 million, or 11 cents per share, during the same period a year ago.
Revenue during the quarter slipped 9 percent to $8.04 billion.
Analysts surveyed by Thomson Reuters expected a loss of 15 cents per share on $8.09 billion in revenue.
Health insurer Aetna Inc. (AET) said Thursday its third-quarter profit rose 18 percent on gains in both commercial and Medicare enrollment.
Still, operating earnings slipped 43 percent on lower commercial plan underwriting margins. A boost in premiums was not enough to offset a rise in medical costs.
The managed care company said it earned $326.2 million, or 73 cents per share, up from $277.3 million, or 58 cents per share, in last year's third quarter. Revenue grew 9 percent to $8.7 billion from $7.98 billion.
Operating earnings, which exclude capital gains and other items, fell 43 percent to $308.2 million, or 69 cents per share.
The results topped Wall Street expectations for operating earnings of 66 cents per share on $8.68 billion in revenue.
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