The first earnings reports of TV-makers came out last week, and showed that the 1950 boom had indeed been big. Radio Corp. of America grossed $586,393,000 on all its products, and had a net profit of $46,250,00084% above last year. Net earnings were an alltime high of $3.10 a share, v. $1.58 in 1949. On percentage, Admiral Corp. did even better. Earnings hit a record $18,767,554, or $9.73 a share, v. $4.26 in 1949.
Other 1950 reports:
¶General Motors Corp.'s net earnings during 1950 were $834 million, 27% more than last year and the highest profit ever reported by any corporation...
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