AMR Corp., the parent of American Airlines, posted a slightly narrower first-quarter loss helped by a tax credit. For the three months ended March 31, AMR's loss was $162 million, or $1 per share, compared with $166 million, or $1.03 per share, in the year-ago quarter. Excluding a tax credit, the company said its loss would have been $230 million, or $1.43 per share. Operating revenue totaled $4.75 billion, up 5 percent from $4.51 billion a year earlier.
Continental Airlines reported that its first-quarter loss widened from a year ago due to high fuel costs and weak domestic yields. The airline lost $184 million, or $2.77 per share, in the January-March period versus a loss of $124 million, or $1.90 per share, a year ago. Excluding an $8 million gain related to the company's defined benefit pension plan, Continental lost $192 million, or $2.89 per share, in the latest quarter. Revenue was up 8.6 percent to $2.51 billion from $2.31 billion last year.
JetBlue Airways Corp. said profit fell by more than half in the first quarter as the low-cost carrier fended off soaring fuel costs amid a bounce-back in passenger traffic. Quarterly net income plunged 54 percent to $7 million, or 6 cents per share, in the January-March period from $15.2 million, or 14 cents, in the year-ago period. Revenue totaled $374.2 million, up 30 percent from $289 million the previous year.
Google Inc., owner of the most-used Internet search engine, said first-quarter profit rose six-fold as sales of online advertising outside the U.S. surged and new features lured more Web surfers. Net income rose to $369.2 million, or $1.29 a share, from $64 million, or 24 cents, a year earlier. Sales almost doubled to $1.26 billion.
Yahoo Inc.'s first-quarter profit doubled as the Internet powerhouse continued to ride a rising tide of online advertising. The company earned $204.6 million, or 14 cents per share, during the three months ended in March. That compared with net income of $101.2 million, or 7 cents per share at the same time last year. Revenue for the period totaled $1.17 billion, a 55 percent increase from $757.8 million last year. After subtracting the commissions paid to other Web sites in Yahoo's rapidly growing ad network, the company's revenue totaled $821 million, a 49 percent improvement from last year.
EBay Inc.'s first-quarter profit jumped 28 percent to $256.3 million, or 19 cents per share, compared with $200.1 million, or 15 cents per share, in the same period of 2004. Excluding special items, the 10-year-old online auction company earned $275.5 million, or 20 cents per share, up from $210.8 million, or 16 cents per share, in the first quarter of 2004. Revenue was $1.03 billion, up 36 percent from $756.2 million in the year-ago period.
Sprint Corp. said profit more than doubled in the first quarter as a surge in its wireless business offset flat or declining sales in local and long-distance phone service. For the three months ending March 31, income jumped to $472 million, or 31 cents per share, from $223 million, or 16 cents a share, in the year-ago period. Revenue totaled $6.94 billion, a gain of 3 percent from $6.71 billion a year earlier.
Cingular Wireless LLC, the nation's largest cell phone provider, reported a $240 million loss in the first quarter despite solid growth in subscribers and revenue. The loss reported by the joint venture of BellSouth Corp. and SBC Communications for the three months ending March 31 compares to a profit of $215 million for the same period a year ago. Revenue in the January-March quarter was $8.23 billion, compared to $3.97 billion a year ago.
McDonald's Corp., the world's largest fast-food chain, reported a 42 percent jump in first-quarter profits despite slower sales growth at its U.S. restaurants. Net income for the January-through-March quarter was $727.9 million, or 56 cents per share, compared with $511.5 million, or 40 cents per share, a year earlier. Excluding extraordinary items, the company said earnings were 46 cents per share. Revenues were $4.8 billion, up 9 percent from $4.4 billion in the first quarter of 2004.