Major US firms post 3Q results

By Ovunc Kutlu

NEW YORK

Three more major American companies announced third quarter results Monday.

Streaming entertainment firm Netflix saw its revenue reach $2.3 billion, up 31.6 percent from $1.7 billion the same time a year ago.

The company’s net income rose 75.2 percent to 51.5 million in the July-September period, from $29.4 million the same time period last year.

The strong results helped its stock jump 20 percent $119.98 in after-hours trading.

Netflix added 3.57 million new members around the world during the third quarter with 320,000 added in the U.S.

IBM, however, posted losses in revenues and income.

Revenue fell slightly -- 0.5 percent, to $19.2 billion, from $19.3 billion.

Net income was also down, 6.1 percent to $3.1 billion, from $3.3 billion.

IBM’s stocks fell 3.5 percent to $149.27 in after-hours trading on Wall Street.

Bank of America, however, posted strong quarterly earnings.

Revenuea reached $21.64 billion, a 3 percent increase from $21 billion the same quarter last year.

Net income was up 7.3 percent to $4.96 billion, from $4.62 billion.

Company’s stocks rose as high as $16.20 per share, from its previous close of $16 p -- a 1.25 percent increase.