The parent company of Air Transat reported a loss of $12.5 million in its latest quarter, compared with a profit of $41.2 million in the same quarter last year. Transat A.T. Inc. said the loss amounted to 52 cents per diluted share for the quarter that ended Oct. 31, compared with a profit of $1.05 per diluted share one year earlier.
International Business Machines Corp. ( NYSE: IBM) announced terrible quarterly results. Revenue rose only 9% to $16.3 billion. Earnings did rise to $1.87 from ($0.36), but it took a charge in the year-ago quarter that affected earnings. A better way to look at the numbers is operating (non-GAAP) pretax income from continuing operations, which was $3.0 billion, up from $2.5 billion in the same period of last year.
At the end of this month, they'll want to see early evidence that projected holiday sales are materializing. Positive noises on the next quarterly call would buy Hill more space and time, while negative or neutral signals will reduce his room for movement. It'll be a crucial test for the apparel brand, one its leaders might wish they could postpone.
Baidu's quarterly revenue increased by 3%, reflecting a modest rebound in China's advertising market, with first-quarter earnings reaching 32.45 billion yuan, surpassing forecasts.