The increase compared with a loss of $4.4 billion for the same quarter of 2011. It also marked the sixth quarter in which Freddie sought no additional aid since being taken over by the government in September 2008.
CVS Caremark 3Q profit up 16 percent as sales rise
CVS Caremark Corp. said Tuesday that its third-quarter earnings climbed 16 percent. The drugstore operator and pharmacy benefits manager posted revenue increases in both businesses, benefiting from new customers won from rivals. It also raised its full-year earnings outlook.The Woonsocket, R.I., company said it earned $1.01 billion, or 79 cents per share, in the three months that ended Sept. 30. That compares with earnings of $868 million, or 65 cents per share, in last year's quarter. Adjusted earnings were 85 cents per share, 2 cents better than analysts expected. That excluded $121 million for the gradual write down of acquisition-related assets. Revenue jumped 13 percent to $30.2 billion, above the $30.09 billion analysts expected. ___ News Corp 1Q earnings beat Street; revenue close NEW YORK (AP) â¿¿ News Corp. said Tuesday that net income for the latest quarter tripled from a year ago, reflecting a one-time gain from the sale of its stake in digital video technology company NDS. Revenue rose 2 percent thanks to growth at pay TV networks such as Fox News Channel. The company controlled by CEO Rupert Murdoch said that fiscal first-quarter net income came to $2.23 billion, or 94 cents per share, compared with $738 million, or 28 cents per share, a year ago. Excluding about $1.38 billion in special gains, largely due to the NDS sale, adjusted earnings came to 43 cents per share, beating the 37 cents per share expected by analysts, according to FactSet. ___ France to give businesses $25 billion tax break