Google, IBM, Apple Announce Earnings

NEW YORK (AP) — Here is a summary of recent earnings and reports for selected technology companies and what they reveal about the state of spending and the overall economy: Thursday: Google Inc. says third-quarter earnings grew 26 percent and revenue grew 33 percent from last year. It's the latest reminder of how the company has used its dominance on the Internet to build a business that weathers economic turbulence better than most companies.

NEW YORK (AP) — Here is a summary of recent earnings and reports for selected technology companies and what they reveal about the state of spending and the overall economy:

Thursday: Google Inc. says third-quarter earnings grew 26 percent and revenue grew 33 percent from last year. It's the latest reminder of how the company has used its dominance on the Internet to build a business that weathers economic turbulence better than most companies. Mounting worries about another global recession haven't shaken the Internet's search and advertising leader so far.

Monday: IBM Corp. raised its full-year guidance again, offering fresh evidence of the company's ability to wring profit from technology services and software contracts. However, IBM slightly missed on the revenue forecast, reviving questions about the company's ability to bring in enough new business to fuel its expected growth.

Tuesday: Apple Inc. failed to set a new sales record, and its financial results came in below expectations — a rare miss for the company. After several record quarters, the period saw Apple biding its time, with no new iPhone or iPad releases. Still, earnings and revenue rose from last year at rates that would be the envy of any large company.

Intel Corp. topped Wall Street's targets as net income rose 17 percent and revenue rose 29 percent. Intel CEO Paul Otellini credited stronger sales of processors for laptop PCs and servers. The results offered some comfort for investors jittery about the weak state of the global computer market. Intel also offered strong revenue guidance for the all-important holiday fourth quarter.

Yahoo Inc.'s third-quarter results showed little evidence of ending the financial funk that got former CEO Carol Bartz fired last month. Yahoo's net income fell 26 percent from last year. The performance may increase pressure on Yahoo to sell itself in parts or as a whole.

EMC Corp., the world's largest maker of data storage computers, says its third-quarter net income grew 28 percent, thanks to strong worldwide demand for its cloud computing and data storage products and services.

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