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PARIS, France (AFP) — French pharmaceutical group Sanofi posted strong 2021 sales on Friday and expects another good performance in 2022, as the popularity of its asthma therapy offset setbacks in developing a Covid vaccine. While Sanofi has yet to produce a jab against Covid, its Dupixent drug, which also treats eczema, has been a huge success, with the drug recording double-digit sales growth. The company posted overall sales of 37.8 billion euros ($43.3 billion) […]
HELSINKI, Finland (AFP) — Shares in Nokia tumbled 20 percent on Thursday after the Finnish telecommunications equipment maker cut its earnings forecast in the face of intense competition to build the latest 5G mobile networks. While returning to profit in the third quarter, the company said it was downgrading its expectations for earnings and margins for this year and 2020 “due to margin pressure, additional 5G investments and additional digitalization investments.” Nokia and its rivals […]
SAN FRANCISCO, United States (AFP) — Facebook on Wednesday reported quarterly profit sank 51 percent from a year earlier due to setting aside $3 billion for an anticipated fine from US regulators. The leading social network logged a profit of $2.4 billion on revenue that climbed 26 percent to $15.1 billion in the first three months of this year. The number of monthly active users of Facebook at the end of March was 2.38 billion, […]
WASHINGTON, United States (AFP) — Elon Musk’s electric car manufacturer Tesla announced Friday it is cutting its workforce by about seven percent as it works to meet its timetable for producing the Model 3. Musk said in a blog post that Tesla is making the staff cut as it aims to reach more customers who can afford its vehicles. He said that currently Tesla’s most affordable offering is the mid-range (264 mile) Model 3 at […]
by Glenn CHAPMAN Agence France Presse SAN FRANCISCO, United States (AFP) — Facebook reported Tuesday that its quarterly profit climbed in the recently ended quarter, but the world’s leading social network — mired in a spate of controversies — gained fewer users than analysts had expected. The company said profit had climbed nine percent to $5.14 billion on revenue that leaped 33 percent to $13.7 billion in the quarter that ended September 30. The number […]
by John Biers Agence France Presse NEW YORK, United States (AFP) — McDonald’s turned in another strong round of earnings Tuesday following heavy promotions in the US as it ramps up tech-focused home-delivery and mobile pay initiatives. The fast food giant scored a solid six percent jump in global comparable sales, fueled by gains in several key markets, including the United States, China, Britain and Canada. “We’re building a better McDonald’s and winning back customers,” […]
NEW YORK, United States (AFP) — The Dow and S&P 500 ended at fresh records Monday as a strong second-quarter earnings season continued to attract more funds to the United States equity market. The Dow Jones Industrial Average posted its ninth straight record, finishing at 22,118.42, a 0.1 percent increase over Friday’s close. The broad-based S&P 500 rose 0.2 percent to end at 2,480.91 also a new all-time high, while the Nasdaq Composite Index gained […]
by Rob Lever Agence France Presse WASHINGTON, United States (AFP) — Snapchat’s ambition to become the next big social media platform hit a brutal reality check with the first earnings report from parent company Snap Inc. The $2.2 billion loss reported Wednesday for the first quarter along with weaker-than-expected revenue and sluggish user growth prompted a wave of selling and harsh comments from analysts about the firm known for its disappearing messages. Snap shares plunged […]
NEW YORK, United States (AFP) — Coca-Cola said Thursday the strong US dollar again hit results in some overseas markets, leading to lower fourth-quarter earnings, although it scored higher revenues in North America. The soft drink giant said net income for the quarter ending December 31 fell to $550 million, down 55.5 percent from the final quarter of 2015, due in part to costs associated with the sale of the company’s North American bottling operations to franchisers. […]
by Glenn CHAPMAN Agence France Presse SAN FRANCISCO, United States (AFP) — Facebook shares bounced Wednesday with word that profit more than doubled in the final quarter of last year, coming back down after a vow to spend heavily on the future. In earnings that topped most forecasts, Facebook said it made a net profit of $3.7 billion on revenue of $8.6 billion in the fourth quarter, as compared with profit of $1.6 billion on […]
