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Washington Mutual Inc.

The financial institution reported a 20 percent slide in its first-quarter earnings, citing a nationwide implosion of the subprime home loan market.

Even so, the company beat Wall Street estimates, and its stock rose in after-hours trading.

The nation's largest savings and loan said its net income was $784 million, or 86 cents a share, for the three months ended March 31, down from $985 million, or 98 cents per share, in the same period a year ago.

Revenue, including net interest income and noninterest income, was $3.62 billion, up from $3.59 billion.

International Business Machines The world's biggest computer-services corporation said first-quarter profit increased 8 percent because of new contracts and software acquisitions.

Net income rose to $1.84 billion, or $1.21 a share, from $1.71 billion, or $1.08, a year earlier.

Sales gained 6.6 percent to $22 billion.

The Coca-Cola Co.

The world's largest beverage maker said its first-quarter profit jumped 14 percent on a double-digit rise in sales, despite continuing problems in its North America unit.

The results beat Wall Street expectations.

The comp...

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