Big red.(financial loses at IBM Corp. and other financial news)(Brief Article)
Economist (US), The, October, 1995
IBM posted a third-quarter net loss of $538m after taking a hefty charge for acquiring Lotus, a software company. Eastman Kodak, an imaging company, fared better. A 75% rise in profits, to $338m, surprised analysts. There were smiles at Microsoft too: profits grew 58% to $499m. The software giant has sold 7m copies of Windows 95, more than predicted, in two months.
General Motors reported its best third-quarter profits ($642m) since 1988. Rival Ford's automotive business lost $201m, due to falling sales and high product-development costs. Its overall results were buoyed by the financial-services arm, which made $558m.
The European Commission approved a merger of the rail operations of Daimler-Benz, Germany's largest industrial company, and ABB, a...
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