« US banking sector and worries about US economy put Dollar under pressure
McCain to call for budget reviews, drug program cuts »

Bear Stearns’ first-quarter net income slumps

SAN FRANCISCO (MarketWatch) — Bear Stearns Cos.’ first-quarter net income slumped to $115 million, or 86 cents a share, from $554 million or $3.82 a share a year ago, according to a 10-Q report filed by the company late Monday. Revenue also declined to $3.43 billion from $4.8 billion in the year-earlier period while revenue after interest expense fell to $1.95 billion from $2.32 billion. Analysts surveyed by FactSet Research had forecast the investment bank to report earnings of 87 cents on revenue of $1.37 billion. J.P. Morgan Chase & Co. recently took a major stake in Bear Stearns as a part of an emergency bailout to prop up the firm.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Original post by Forextvblog

This entry was posted on Monday, April 14th, 2008 at 6:05 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Bear Stearns’ first-quarter net income slumps”

  1. Forex » Bear Stearns’ first-quarter net income slumps Says:
    April 14th, 2008 at 8:39 pm

    […] Forex News wrote an interesting post today onHere’s a quick excerptBear Stearns’ first-quarter net income slumps April 14th, 2008 SAN FRANCISCO (MarketWatch) — Bear Stearns Cos.’ first-quarter net income slumped to $115 million, or 86 cents a share, from $554 million or $3.82 a share a year ago, according to a 10-Q report filed by the company late Monday. Revenue also declined to $3.43 billion from $4.8 billion in the year-earlier period while revenue after interest expense fell to $1.95 billion from $2.32 billion. Analysts surveyed by FactSet Research had […]

Leave a Reply