Third Quarter Earnings: Now That's An October Surprise
Nothing like a burst of good news. In BUSINESS WEEK's flash report on third-quarter profits, 83 early-reporting companies showed a 12% earnings gain on a 9% revenue increase-ahead of the 5% income increase Wall Street had predicted. Among the standouts: Computer Associates went from a $637 million loss in 1995 to a $223 million profit. Auto makers also did well, with GM and Chrysler exceeding expectations. Intel did better than expected. But other tech companies disappointed, including Motorola and TI, as did paper companies (again) and PepsiCo.