GMAC reports first-quarter loss of $675 million

Sempra Energy, owner of the largest U.S. natural-gas distributor, said first-quarter profit rose 31% on higher utility rates and a surge in earnings from its commodities-trading joint venture.

Net income rose to $316 million, or $1.29 a share, from $242 million, or 92 cents, a year earlier, the San Diego-based company said. Sales fell 36% to $2.1 billion.

* Marvel Entertainment Inc. reported first-quarter profit that exceeded analysts’ estimates on higher-than-projected film revenue and licensing fees from comic book characters including Iron Man.

Net income for the maker of “The Incredible Hulk” movies totaled $44.6 million, or 57 cents a share, exceeding the 37-cent average estimate of analysts surveyed by Bloomberg. Sales rose 75% to $197 million, beating the $140.6-million average projection.

* ValueClick Inc., a Westlake Village online advertising company, reported a 31% drop in first-quarter profit as revenue fell.

But results still beat analysts’ expectations.

The company earned $13.2 million, or 15 cents a share, compared with $19.2 million, or 19 cents, a year earlier. Revenue declined 20% to $135 million.