Earnings roundup: Visa, Starbucks

Among the earnings stories for Wednesday, April 29, from AP Financial News:

BOSTON (AP) _ Visa Inc. said Wednesday its fiscal second-quarter profit rose nearly 71 percent, beating Wall Street expectations, as cost cuts helped offset tighter consumer spending that sent U.S. electronic payments volume down slightly.

NEW YORK (AP) _ Starbucks Corp. said Wednesday its fiscal second-quarter profit dropped 77 percent because of big restructuring charges related mainly to the closure of 123 U.S. cafes.

CLEVELAND (AP) _ Goodyear Tire & Rubber Co., the largest U.S. tire maker, on Wednesday said it lost $333 million in the first quarter, reflecting a sales drop of 28 percent and rising raw materials costs.

ST. LOUIS (AP) _ Pharmacy-benefits manager Express Scripts Inc. said late Wednesday its first-quarter profit rose 21 percent on a mix of lower costs and increased use of cheaper generic drugs as consumers become more cost conscious.

LOS ANGELES (AP) _ Time Warner Inc. said Wednesday that its first-quarter profit fell 14 percent on charges related to its cable unit spin-off. Amid an ad slump, the media conglomerate reaffirmed its guidance on flat profits for the full year.

CAMBRIDGE, Mass. (AP) _ Akamai Technologies Inc. said Wednesday its first-quarter profit was nearly flat year-over-year even as the Internet traffic-management company said a growing number of long-term customers helped boost sales.

MINNEAPOLIS (AP) _ E-commerce software service company Digital River Inc. said Wednesday its first-quarter profit inched lower, but the results surpassed the company's forecast and Wall Street's expectations.

MILPITAS, Calif. (AP) _ Communications equipment company JDS Uniphase Corp. said Wednesday its fiscal third-quarter loss widened and it predicted weaker-than-expected sales in the current fourth quarter.