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Its credit card business was particularly strong, with earnings rising 34percentt.
Universal had a mixed fourth quarter with revenues falling 11%, but earnings rising 15.9%.
With corporate earnings rising partly on the back of cost cutting, employers are reluctant to give up profits.
The dissidents argued that the merger would never be the promised bonanza, with earnings rising to $50 million in 2002.
On Wednesday, however, the ONS figures showed average earnings rising by 1.7%, lower than the rate of inflation at 2.2%.
That could provide a foundation for higher stock prices if companies can start their earnings rising again, he said.
Similar(33)
Refining and marketing earnings rose.
Operating earnings rose to $83.5 million, from $69.6 million.
Operating earnings rose 32percentto to $1.3 billion.
Nominal earnings rose by 5.2% in the year to March.
Average earnings rose by 4.4% over the same period.
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