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COPENHAGEN, Feb 8, 2024 (AFP) – Shipping giant Maersk reported on Thursday a massive drop in net profit in 2023 and warned of “uncertainty” in 2024 due to Yemeni rebel attacks on vessels in the Red Sea. An oversupply of container shipping last year caused prices to drop after they had soared in 2022 due to capacity shortages amid high demand following the end fo Covid pandemic restrictions, the Danish group said. “The high demand […]
COPENHAGEN, Nov 3, 2023 (AFP) – Danish shipping giant Maersk said Friday it would slash 3,500 jobs as net profit and revenue plunged in the third quarter due to a sharp fall in freight rates. Maersk’s net profit nosedived to $521 million between July and September against $8.9 billion a year earlier. “Our industry is facing a new normal with subdued demand, prices back in line with historical levels and inflationary pressure on our cost […]
TOKYO, Japan (AFP) — Japan’s Toyota said on Tuesday that net profit in its first quarter surged 78 percent as global production rebounded after severe supply disruptions a year ago. The world’s biggest automaker by sales said net profit in the three months to June was 1.31 trillion yen ($9.1 billion) on sales of 10.55 trillion yen, up 24.2 percent from a year ago. Toyota, including its Lexus brand, sold 2.538 million vehicles worldwide, up […]
SEOUL, South Korea (AFP) — Samsung Electronics on Thursday reported a more than 95 percent plunge in operating profits in the second quarter owing to weak demand for memory chips. The firm is the flagship subsidiary of South Korean giant Samsung Group, by far the largest of the family-controlled conglomerates that dominate business in Asia’s fourth-largest economy. Operating profit from the April to June period was 668.5 billion won ($525.3 million), down from 14.1 trillion […]
by Glenn CHAPMAN Agence France-Presse SAN FRANCISCO, United States (AFP) — Shares in Facebook parent Meta surged Wednesday after the internet titan reported it made a profit of $5.7 billion in the first quarter of this year, beating forecasts after a massive wave of cost-cutting and layoffs. The profit came on revenue of $28.6 billion and as the number of people using Facebook every month grew to just shy of three billion, an earnings report […]
Zurich, Switzerland | AFP | Monday 4/24/2023 by Nathalie OLOF-ORS Tens of billions were withdrawn from Credit Suisse in the first three months of 2023, the bank’s earnings report showed Monday, providing clues to the towering challenges ahead as UBS prepares an emergency takeover. Switzerland’s long-time second largest bank saw 61.2 billion Swiss francs ($68.6 billion) withdrawn in the first quarter alone, it said Monday in what is likely its final quarterly report before it […]
HELSINKI, Finland (AFP) — Finnish telecom giant Nokia reported Thursday a lower-than-expected rise in earnings in the first quarter as economic headwinds affect spending by its customers. The telecommunications equipment maker, which is locked in a battle for 5G networks with Swedish rival Ericsson and China’s Huawei, said its net profit jumped 32 percent to 289 million euros ($317 million). But its earnings per share amounted to six cents, weaker than the seven cents expected […]
Netflix on Tuesday said that its number of subscribers hit a record high 232.5 million in the first quarter of the year and that its nascent ad-supported tier was faring well. The streaming television giant reported a quarterly profit of $1.3 billion, in line with expectations, but said it had delayed a broad crackdown on sharing of account passwords “to improve the experience for members.” Netflix said it expects to begin rolling out its options […]
Frankfurt, Germany | AFP | Thursday 2/16/2023 Germany’s second-largest lender Commerzbank said Thursday its net profit tripled in 2022 as the bank prepares for reentry into the Frankfurt Stock Exchange’s blue-chip DAX index. The group said it made a bottom-line profit of 1.44 billion euros ($1.54 billion) in 2022, up from 430 million euros the previous year. The result showed Commerzbank’s “turnaround is a success” after years of poor performance and restructuring efforts, CEO Manfred […]
Boulogne-Billancourt, France | AFP | Thursday 2/16/2023 French automaker Renault said Thursday it boosted manufacturing profitability in 2022 but the sale of its operations in Russia pushed the company into a net loss. Renault expanded its operating profit margin to 5.6 percent of sales in 2022 and aims to increase it to at least 6.0 percent this year. Meanwhile sales rose by 11.4 percent to 46.4 billion euros ($49.7 billion). “2022 has more than kept […]
SAN FRANCISCO, United States (AFP) — Google and Apple on Thursday reported downbeat results for the last quarter of 2022 as Amazon beat expectations, but warned that the coming months would be uncertain in a difficult moment for Big Tech. The world’s biggest tech companies posted their earnings as shares in Meta skyrocketed a day after it reported better results than expected and signaled spending and job cuts. The results follow several weeks of unprecedented […]
by Glenn CHAPMAN Agence France-Presse SAN FRANCISCO, United States (AFP) — Facebook and Instagram owner Meta on Wednesday reported its first annual sales drop since the company went public in 2012, but the fall was less brutal than expected, sending its share price soaring. The social media giant said sales dropped one percent to $116.6 billion in 2022, while it also announced that the number of daily users on Facebook hit two billion for the […]
