UPS fourth-quarter net income jumps 48 percent

UPS said Tuesday its fourth-quarter net income jumped 48 percent as shipments increased across the globe during the holiday season.

The world’s largest shipping company said business was particularly strong in China and Germany, two countries that rely heavily on exports.

United Parcel Service Inc. expects 2011 earnings to rise between 16 and 22 percent, topping pre-recession levels of 2007.

The company earned $1.12 billion, or $1.11 per share, in the last three months of 2010. That compares with net income of $757 million, or 75 cents per share a year earlier.

Revenue rose 8 percent to $13.42 billion.

 

Demand for grains boosts Archer Daniels quarter profit

Agribusiness conglomerate Archer Daniels Midland said Tuesday its second fiscal quarter profit jumped 29 percent as a recovery in the ethanol industry and growing demand for grains boosted revenue and profit margins.

The company, whose operations range from processing crops to making ethanol and shipping food exports, said Tuesday its net income was $732 million, or $1.14 per share, for the three months ended Dec. 31. That’s up from $567 million, or 88 cents per share, a year earlier.

Analysts surveyed by FactSet expected earnings of 78 cents per share. Pfizer quadruples fourth-quarter profit in year

Pfizer Inc. said Tuesday its fourth-quarter profit nearly quadrupled from a year ago when it was weighed down by restructuring charges, as revenue rose 6 percent, thanks to the addition of products from fellow drugmaker Wyeth, acquired late in 2009.

The results narrowly beat Wall Street expectations. Pfizer also approved a $5 billion stock buyback plan and said it was cutting spending on research and development.

Pfizer, the world’s biggest drugmaker by revenue, said its net income was $2.89 billion, or 36 cents per share, compared with $767 million, or 10 cents per share, a year earlier.

 

Electronic Arts loss widens, but results above target

Electronic Arts Inc. says its fiscal third-quarter net loss widened as revenue fell, but adjusted results surpassed Wall Street’s expectations. This, combined with a solid outlook and plans for a $600 million stock buyback, sent shares higher in after-hours trading.

The video game publisher said Tuesday its net loss totaled $322 million, or 97 cents per share, for the three months that ended in December.

The company behind “Madden” and “The Sims” said net revenue slid 15 percent to $1.05 billion from $1.24 billion.