Earnings Roundup

Home and auto lender GMAC Financial Services said Thursday that it lost $5 billion in the last three months of 2009, as losses from mortgage operations kept the company in the red for another quarter.

GMAC, which is owned by the federal government, is still working to sell its troubled home lending business, ResCap. Mortgage operations overall lost more than $4 billion during the quarter, and GMAC took a $3.3-billion charge related to its efforts to sell the unit.

GMAC’s automotive lending unit has been profitable recently and made $369 million in the quarter. GMAC is the main lender for General Motors Co. customers and dealers and recently took on the financing duties for Chrysler Group.

The company said its auto financing business would continue to be its main focus.

GMAC’s fourth-quarter loss compares with a profit of $7.5 billion in the same quarter of 2008.

For the full year, GMAC lost $10.29 billion. It made $1.87 billion in 2008.

SONY

Smaller annual loss expected

Sony Corp. expects a smaller annual loss after blockbuster movie releases, cost cuts and robust holiday gadget sales boosted quarterly earnings more than sevenfold.

The Japanese manufacturer, known for products like the PlayStation 3 game console, said Thursday that its net profit for the October-December quarter jumped to 79.2 billion yen ($861 million) from 10.4 billion yen a year earlier.

Revenue from movies, personal computers and financial services lifted revenue by 4% to 2.24 trillion yen.

Sony said it benefited from strong worldwide theater releases such as “2012” and the Michael Jackson movie “This Is It,” as well as home DVD sales of titles including “Angels & Demons.”

Since taking over in 2005, Sony Chief Executive Howard Stringer has been trying to unite the company’s sprawling business, improve efficiency and rein in costs.

The Tokyo company’s latest results suggest that Stringer’s initiatives are paying off. Sony trimmed its forecast of losses for the fiscal year ending in March.

It now expects a net loss of 70 billion yen, a 22% improvement over its previous loss forecast of 95 billion yen.

ALLERGAN

Fourth-quarter profit jumps 52%

Irvine-based Allergan Inc. said fourth-quarter net income rose 52% to $222.8 million, or 72 cents a share. Revenue rose 16% to $1.22 billion.

Allergan forecast 2010 earnings excluding certain costs of $3.09 to $3.15 a share.

Shares of Allergan rose 62 cents to $57.39.

-- times wire reports