San Antonio — The Progressive Retailers Organization was at the Westin La Cantera Hill Coun
Benton Harbor, Mich. — Whirlpool reported higher net earnings and flat sales in the first quarter, ended March 31.
GAAP net earnings were $252 million, compared with net earnings of $92 million share reported during the same period last year, which were driven by continued favorable product price and mix and the benefit of cost- and capacity-reduction initiatives, the company said.
Seoul, South Korea — LG Electronics shipped 10.3 million smartphones and had higher company revenues, but profits declined for the first quarter, ended March 31.
The smartphone unit sales in the quarter were the highest for LG since it entered the category, the company said, and its better-than-expected performance in LG’s mobile operations offset weaker results in the home entertainment business.
New York — AT&T reported it added 1.2 million new smartphone subscribers, and the company’s net income rose 3.2 percent to $3.7 billion during its first quarter.
The company posted operating revenues of $31.4 billion for the three months, ended March 31, compared with the same period last year.
The 1.2 million new smartphone subscribers equated to 290,000 wireless postpaid net adds for the company, which resulted in a postpaid churn improvement to 1.04 percent, the company reported.
AT&T also reported:
Cupertino, Calif. – Apple reported higher sales but lower profits in its fiscal second quarter ended March 30, selling more iPhones and iPads than the same quarter last year.
Apple posted quarterly revenue of $43.6 billion compared with $39.2 billion in the year-ago quarter. Profits were $9.5 billion, down from the net profit of $11.6 billion last year.
Gross margin was 37.5 percent compared to 47.4 percent in the year-ago quarter. International sales accounted for 66 percent of the quarter’s revenue.
Fort Worth, Texas – RadioShack lost $43 million during the first quarter, ended March 31.
Sales slipped 7 percent to $849 million and comparable store sales were down 5.7 percent.
The company also reported an operating loss of $19 million, compared to operating income of $7 million last year.
RadioShack attributed $8.5 million of its net loss to its Target mobile center business, which has since been discontinued.
Seoul, South Korea — LG Display reported Monday its fourth consecutive quarterly net operating profit after seven losing quarters.
LG Display said earnings for its fiscal first quarter, ended in March, were 151 billion won ($135 million). The company showed an improvement from 211 billion won reported in the year-ago period, but was down 74 percent from the previous quarter.
Miami— Almost everything’s coming up roses for no-contract cellular MVNO TracFone Wireless, owner America Movil reported.
America Movil of Mexico City is Latin America’s largest cellphone carrier. It also operates landline phone and broadband networks and pay-TV service. TracFone sells service under the Telcel America, Straight Talk, Simple Mobile, NET 10 and Safe Link Wireless brands.
Redmond, Wash. — Microsoft reported higher revenue, net income and operating income in its fiscal third quarter, ended March 31.
Revenue was up $3 billion to $20.5 billion. Net income was up about $1 billion to $6.05 billion, and operating income was up $1.3 billion to $7.6 billion.
Mountain View, Calif. – Google-owned Motorola Mobile saw its first-quarter sales shrink 54 percent to $1.02 billion compared to the year-ago period and its operating losses grow 124 percent to $271 million, Google’s financial reports show.
The GAAP financial information is based on Google’s report of Motorola’s first-quarter mobile-phone performance and a year-ago financial report on the mobile business issued by Motorola before it was purchased by Google in May 2012.
Espoo, Finland – Nokia sold fewer cellphones in North America in the first quarter compared to the year-ago period, but their dollar volume rose as the company shifted more sales to smartphones from feature phones.
Global consolidated operating profit fell back into the red in the quarter following a fourth-quarter operating profit that had reversed a string of six consecutive quarterly losses.