Earnings roundup

Several companies, including some based in Utah or with ties to the state, reported financial results Thursday.

Merrill Lynch

Merrill Lynch & Co.'s first-quarter profit soared more than 30 percent, the nation's largest retail brokerage said, thanks to strong revenue from investments and takeover activity.

The New York-based company reported net income of $2.11 billion, or $2.26 per share, after preferred dividends. This was up from $432 million, or 44 cents per share, a year ago, when it recorded $1.2 billion in one-time compensation expenses. Excluding those expenses, the company earned $1.61 billion, or $1.65 per share, a year ago.

Merrill Lynch said revenue rose 24 percent to $9.85 billion in the period.

The quarter's sales were the second highest ever, after the third quarter of 2006, when Merrill Lynch said it benefited from a one-time gain related to buying asset manager BlackRock Inc.

Advanced Micro Devices

Advanced Micro Devices Inc. reported a greater-than-expected loss in the first quarter as the chipmaker continued to struggle amid a fierce price competition with larger rival Intel Corp.

AMD said it lost $611 million, or $1.11 per share, in the first three months of the year. That compares with a profit of $185 million, or 38 cents per share, in the same quarter a year ago.

AMD reported $1.23 billion in sales, a 7 percent decline from the $1.33 billion it rang up last year.

Southwest Airlines

Southwest Airlines Co. said its first-quarter profit rose by half on record revenue but income would have fallen by 4 cents per share without gains from derivatives that hedge future fuel costs.

The low-cost carrier said it earned $93 million, or 12 cents per share, compared to $61 million, or 7 cents per share, a year earlier.

Excluding the derivatives gains, the company said its "economic net income" was $33 million, or 4 cents per share, down from $64 million, or 8 cents per share, a year ago.

Revenue rose 8.9 percent to $2.2 billion from $2.02 billion.

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