Visa profit jumps on strong cost-cutting, meets expectations - USATODAY.com
"Visa
(V) said Wednesday its fiscal third-quarter profit jumped 72%, as recent cost-cutting helped offset declining payment processing volume."
Yahoo turns profit after cutting costs
"The Sunnyvale, Calif.-based internet company wouldn't have boosted its second-quarter profit if not for layoffs and other cost cutting that pared Yahoo's operating expenses by nearly $150 million US, or 15 per cent, from last year."
EETimes.com - Motorola Q2 net profit up on cost cutting but sales fall
"Motorola Inc. posted a surprising net profit in the second quarter on improving margins and lower costs even as sales continued to tumble and the company's share of the wireless handset market shrank to less than six percent."
New York Times Co. Q2 Profits Up -- Cost-Cutting Helped (http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003996808 - broken link)
"The story behind the Times Co. profits was the deep cut in operating costs, which fell 20% to $561.2 million."
There are plenty more where that came from. Just google "profits up from cost cutting".
Here's a good summary article:
Profits are up, but for how long? - BloggingStocks
"Profits that arrive following cuts simply suggest that there was fat just waiting to be trimmed. What we're seeing right now, for the most part, is the latter. And, since you can't cut your way to growth, these are generally one-time opportunities that don't speak to future success."
The only company I have seen where actual revenue generated their profit was Apple.
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