Exxon 1Q solid
but output slips
Growing is hard for a company as big as Exxon. Exxon Mobil Corp. managed to increase earnings slightly in the first quarter thanks to surging profits from its chemical business and lower taxes. But the company makes the bulk of its profit by producing oil and natural gas. And that business slumped for the seventh straight quarter.
Britain's economy avoided entering an unprecedented and politically damaging third recession in five years, according to official estimates. Although the data were hardly robust, and subject to revision, the indication that the economy eked out growth of three-tenths of 1 percent in the first quarter relieved some of the pressure on architects of the country's austerity drive.
Amer Sports hit
by lower demand
Sports equipment maker Amer Sports Corp., whose North American operations are based in Ogden and whose brands include Atomic, Salomon and Wilson, says first-quarter earnings fell 20 percent, to $19.3 million, partly because U.S. retailers reduced inventory. The fall in net profit from the previous year came despite a 2 percent rise in revenue.
coffee fix endures
Americans may not feel optimistic about the economy but they're still spending more at Starbucks. The world's biggest coffee chain said Thursday that its profit rose in its fiscal second quarter as a key sales figure climbed in the U.S., its biggest market. New drinks and food, such as its sandwiches and pre-packaged lunch boxes, helped lift sales.
For Amazon, profit
off, revenue rises
Amazon.com Inc.'s net income declined in the first three months of the year, even though revenue increased 22 percent, as the online retailer continued to spend heavily on order fulfillment and rights to digital content. The world's largest online retailer, which also sells the Kindle devices and services, said it earned $82 million, or 18 cents per share, in the first quarter.
shows privacy OK
Facebook says an independent audit found its privacy practices sufficient during a six-month assessment period that followed a settlement with federal regulators. The audit was required to resolve charges that the social networking company exposed details about its users' lives without getting the required legal consent.
NFL given OK to
shut bogus sites
The NFL won a court order to shut down the operators of nearly 1,500 China-based websites accused of selling fake NFL merchandise, continuing the league's effort to counter booming counterfeit sales of its popular player jerseys and other merchandise. The suit said a single network of counterfeiters was behind the phony sales ring.