Volkswagen AG, auto maker, reported a net profit of 333 million euro ($404.2 million) for the second quarter ended June 30, versus 357 million euro in last year’s comparable quarter. Analysts had forecasted a net profit of 367 million euro. Sales climbed to 24.90 billion euro versus 23.51 billion euro, beating analysts' views of 24.61 billion euro. Volkswagen’s vehicle deliveries jumped 5.3% to 1.38 million compared with 1.31 million euro last year.

Operating profit climbed 75% to 911 million euro vs. 522 million euro, outpacing analysts’ projections of 730 million euro, buoyed by cost cuts and model launches. Shares of the company added 2.6% to 44.95 euro in Frankfurt trading after the earnings results were released.

Singapore Airlines, the world's 10th-biggest airline measured by revenue per passenger kilometer, Friday said 1Q net profit dropped 7.9% to 234.6 million Singapore dollars ($141 million), largely thanks to higher fuel costs. Growth in passenger and cargo traffic bolstered revenue at the national carrier 12% to S$3.04 billion.

Passenger load factors climbed above 70% for the quarter but expenditures increased 15% versus last year. Oil prices hit the airline's profits, with net fuel costs soaring to S$892 million, about 32% of expenditures in the three-month period.

In May, the company said its net profit for the year ended March 31 hit a record S$1.389 billion, up 64% despite the record jet-fuel prices and an onslaught from Asia's budget airlines.

Japan's largest mobile-phone service operator NTT DoCoMo Inc.'s net profit soared 22% for the quarter ended June 30, due to cost-cutting efforts and a gain on the sale of the company’s shareholdings. Net profit for the quarter rose 22% to 207.86 billion yen ($1.85 billion), or 4,495 yen a share, up versus 170.38 billion yen, or 3,507 yen a share, in the comparable quarter a year ago. Although the company’s group revenue declined 2.8% to 1.187 trillion yen vs. 1.221 trillion yen, its operating profit climbed 4% to 287.61 billion yen vs. 276.56 billion yen.

NTT DoCoMo backed its earnings outlookestimates for the full fiscal year through March 2006.The company still sees a group net profit of 533 billion yen on revenue of 4.805 trillion yen. NTT DoCoMo calculates its earnings based on U.S. GAAP.

American Electric Power Co. Inc. (AEP: chart), one of the largest U.S. power producers, Friday announced 2Q earnings more than doubled on growing retail sales and higher margins on off-system sales. Net income increased to $221 million, or 58 cents a share, versus $100 million, or 25 cents a share, a year earlier. Revenue dropped to $2.8 billion compared with $3.4 billion last year. On an ongoing basis, earnings in the quarter were 61 cents per share, while analysts forecasted earnings per share of 43 cents to 46 cents for the quarter. AEP stuck by a forecast for ongoing earnings per share of $2.30 to $2.50 for the year. Analysts had expected earnings per share of $2.43.

The industrial conglomerate ITT Industries Inc. (ITT: chart) on Friday announced 2Q profit climbed 23% on strong water treatment and defense electronics sales. The company also lifted its full-year profit outlook. ITT posted earnings of $137.7 million, or $1.46 per share, versus $112 million, or $1.18 per share, last year. Excluding some one-time items, ITT posted profit of $1.43 per share, beating forecasts of $1.32. Revenue climbed 20% to $1.983 billion, above analysts' estimate of $1.931 billion. According to ITT, profit growth was fueled by its fluid technology unit, which includes its water treatment products, and its defense electronics unit.

ITT boosted its full-year revenue and earnings guidance for the second time this year and now expects 2005 earnings per share of $5.30 to $5.40 on revenue of $7.7 billion to $7.8 billion, while analysts have been looking for earnings of $5.26 on revenue of $7.67 billion.

Agrobusiness company Archer Daniels Midland Co. (ADM: chart) Friday posted a quarterly profit, versus a loss last year, when it recorded a charge related to a legal settlement. The company posted a 4Q profit of $195 million, or 30 cents a share compared with a loss of $103 million, or 16 cents a share, last year, while analysts forecasted 27 cents a share. Improved business in Europe, South America and Asia bolstered the company's oilseed processing business, while corn processing profit declined on higher energy costs and lower selling prices for lysine, an additive used in animal feed. Sales and other operating income dropped 3% to $9.42 billion, while analysts expected $9.02 billion.

U.S. independent oil and gas producer Anadarko Petroleum Corp. (APC: chart) on Friday reported a 25% increase in 2Q earnings, thanks to record high energy prices. The company said net income advanced to $506 million, or $2.12 per share, versus $405 million, $1.59 per share, last year, while analysts were looking for earnings of $2.11 a share. Revenues climbed to $1.59 billion vs. $1.44 billion a year ago.

Oil and gas sales volumes averaged 428,000 barrels of oil equivalent per day in the three-month period, down vs. a year ago due to of property sales related to the company's strategy to refocus its business. The company targets oil and gas volumes of 38 million to 40 million barrels of oil equivalent in 3Q and 159 million to 164 million barrels of oil equivalent for the full year. Anadarko said it expects capital investment of $800 to $900 million in 3Q and $3.1 billion to $3.3 billion for the fiscal year.

Constellation Energy (CEG: chart) reported a second-quarter profit of 66 cents per share, excluding one-time items, up vs. 54 cents per share last year and above the 62 cents per share, seen by analysts. The company backed its target for the full year of $3.35-$3.60 per share.

Baker Hughes (BHI: chart) released earnings for the second quarter of 64 cents per share, including a contribution of about 5 cents per share from certain item. This was up versus the 35 cents per share the company earned last year. Analysts had forecasted a profit of 53 cents per share. Quarterly revenues came in at $1.78 billion, up 18% vs. last year's $1.5 billion.

Burlington Resources, oil and gas producer, reported 2Q net income rise of $1.40 per share, up from 96 cents per share on revenue of $1.69 billion, exceeding estimates of $1.26 per share.

St. Paul Travelers, property and casualty insurer, posted 2Q profit jump of $1.52 a share compared with a net loss of 42 cents a year ago on higher investment income and good weather. The quarterly results exceeded expectations of $1.13 per share.

Metro One, provider of directory assistance and other telecom services, posted 2Q net loss of 37 cents a share vs. 22 cents in the year-ago period on lower revenue.

Citizens, provider of wireline services in rural areas and small and medium-size cities, posted 2Q net income rise of 13 cents a basic share up from 8 cents in the same period last year, beating estimates by 2 cents.

R&B, supplier of replacement parts and household hardware, posted net income decline to 25 cents a share, down from 29 cents in the year-ago period on thinner profit margins.