Newspaper article The Florida Times Union

Corporate Earnings

Newspaper article The Florida Times Union

Corporate Earnings

Article excerpt

DOW JONES

Dow Jones & Co. reported a 59 percent surge in second-quarter earnings yesterday on continuing growth in advertising revenues at the company's flagship newspaper, The Wall Street Journal.

Dow Jones, which also publishes Barron's, SmartMoney magazine and Dow Jones Newswires, earned $93.7 million or $1.06 per share in the three months ending in June, beating analysts' expectations of 97 cents per share. In the same period a year ago, the company earned $58.9 million or 64 cents a share.

The figures in both periods excluded special items that affected earnings, a one-time gain in the most recent quarter on the sale of a stake in SportsTicker Enterprises, and a one-time charge in the year-ago period on costs linked to job cuts.

Including the one-time items in both quarters, Dow Jones reported net income of $100.6 million or $1.13 per share in the second quarter of 2000 and $57.2 million or 62 cents per share a year ago.

Revenues rose 22 percent to $621.6 million compared to $510.6 million in the same period a year ago.

GENERAL ELECTRIC

General Electric Co. said yesterday its second-quarter earnings rose 20 percent, led by strong growth in its power systems, aircraft engines and NBC units.

GE's earnings came to $3.38 billion, or 34 cents per share, up from $2.82 billion, or 28 cents per share, in the same period a year ago.

The results beat Wall Street expectations by 1 cent per share, according to First Call/Thomson Financial.

Revenues increased 20 percent to $32.86 billion, up from $27.41 billion.

The company said all seven of its business segments had strong growth.

J.P. MORGAN

J.P. Morgan, a leading global banking company, reported higher earnings for its second quarter yesterday as stronger results in its stock research and underwriting business made up for declines in currency and bond trading.

J.P. Morgan had net earnings of $542 million in the three months ending in June, an increase of 7. …

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