PROFITS IN HIGH GEAR : FORD, CHRYSLER, GM REPORT RECORD SUMMER REVENUE.Byline: Brian S The name Brian (sometimes spelled Bryan) comes from an Irish backround. It is of Celtic origin and its meaning may be "hill" or "strong, noble, and high"[1]. . Akre Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. The Big Three automakers rolled through an unusually profitable summer, setting a third-quarter earnings record of $2.63 billion. Ford Motor Co., General Motors Corp. and Chrysler Chrys·ler , Walter Percy 1875-1940. American automobile manufacturer who founded the Chrysler Corporation (1925). Corp. nearly doubled their net earnings from the same period of 1995, when they earned a total $1.35 billion. The previous record was $2.33 billion in 1994. Ford was buoyed by a $686 million quarterly profit compared with $357 million in the same period of 1995. Earnings-per-share were 57 cents vs. 28 cents a year ago. Sales increased 8 percent to $34 billion, compared with $31.4 billion a year ago. Once again, much of Ford's profit came from its financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. group, which posted earnings of $671 million, up 20 percent from $558 million a year ago. Even without the one-time gain from the sale of USL (UNIX System Laboratories, Inc.) An AT&T subsidiary formed in 1990, responsible for developing and marketing Unix. In 1993, USL was acquired by Novell and merged into Novell's UNIX Systems Group (USG). See Univel. 1. Capital, the unit's profit would have set a third-quarter record. Despite the strong results, Ford's stock fell $1 per share to $32.25 on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. on Wednesday. Many companies reporting earnings Wednesday saw stock drops as some investors showed disappointment that the profits merely met expectations. GM said earlier this week that it earned $1.27 billion, while Chrysler posted a $680 million profit. CAPTION(S): Photo Photo: (color) Ford's third-quarter earnings combined withGeneral Motors and Chrysler to reach a new high for the Big Three of $2.63 billion, twice that of 1995. Associated Press |
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