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SAN FRANCISCO, United States (AFP) — US streaming giant Netflix on Thursday said it ended last year with more than 230 million global subscribers, beating analysts’ expectations as hits such as “Wednesday” and “Harry & Meghan” enticed new viewers. “2022 was a tough year, with a bumpy start but a brighter finish,” the company said in a letter announcing bumper fourth quarter earnings. Netflix also announced that co-founder Reed Hastings was standing down as CEO, […]
London, United Kingdom (AFP) Shares in UK clothing retailer Next soared to the top of the London market Thursday after it said colder weather boosted purchases despite a cost-of-living crisis caused by sky-high inflation. Next’s share price jumped seven percent to £65.26 ($78.53) on the benchmark FTSE 100 index, which was up modestly overall. Sales of full-price items rose around five percent in the nine weeks to December 30 from a year earlier, the company […]
London, United Kingdom | AFP | Irish airline Ryanair flew back into a first-half profit Monday and forecast a strong outlook despite recession headwinds in Europe, as air travel rebounds after the lifting of Covid restrictions. Profit after tax came in at 1.37 billion euros (dollars) in the six months to the end of September after a net loss of 48 million euros a year earlier, the Dublin-based carrier said in a statement. Ryanair said […]
London, United Kingdom | AFP | Wednesday British drugmaker GlaxoSmithKline said Wednesday that third-quarter net profit rocketed almost ten-fold to £10.3 billion ($11.5 billion) on the blockbuster spinoff of consumer healthcare unit Haleon. Earnings after taxation spiked in the three months to the end of September from £1.2 billion a year earlier, due to a vast gain of £9.6 billion on the Haleon demerger, GSK said in a results statement. Stripping out the spinoff, adjusted […]
London, United Kingdom | AFP | British consumer group Unilever on Thursday warned that it expected prices to remain high into next year as decades-high inflation takes time to come down. “The global macroeconomic outlook remains mixed, and we expect the challenges of high inflation to persist in 2023,” Unilever’s outgoing chief executive Alan Jope said in a statement. The group whose brands include Magnum ice cream, Cif surface cleaner and Dove soap, revealed an […]
Stockholm, Sweden | AFP | Swedish automaker Volvo Cars on Thursday rising raw material costs and inflation drove down profits in the third quarter. The group posted a net profit of 665 million kronor ($61 million) in the July-September period, a drop of 71 percent compared to 2.3 billion kronor during the same quarter a year ago. The figure was far below analysts’ forecasts of between 2.15 and 2.19 billion kronor, according to Bloomberg and […]
San Francisco, United States | AFP | by Glenn CHAPMAN Netflix on Tuesday reported that it gained more than 2 million subscribers in the recent quarter, calming investor fears that the streaming giant was losing paying customers. The company said it ended the third quarter with slightly more than 223 million subscribers worldwide, up some 2.4 million, after seeing subscriber ranks ebb during the first half of the year. Netflix shares shot up more […]
SAN FRANCISCO, United States (AFP) — Airbnb said Tuesday revenue in the recently ended quarter topped $2 billion as people shook off pandemic worries and took part in a banner travel season. The home rental platform logged a net income of $379 million in what it touted as the most profitable second quarter in its history. As a sign of confidence in its future, the San Francisco-based company announced it will devote $2 billion to […]
PARIS, France (AFP) — French-Dutch airline Air France-KLM said Friday it flew back into profit the in the second quarter for the first time since the coronavirus pandemic, but its performance was hampered by a global shortage of airport staff. “The strong recovery we see this summer is putting the entire aviation industry to the test,” said chief executive Benjamin Smith. “While Air France-KLM had prepared for close to pre-pandemic demand levels, our airlines are […]
by Glenn Chapman Agence France-Presse SAN FRANCISCO, United States (AFP) — Amazon and Apple were a relative bright spot in a week of otherwise lackluster earnings results for an industry reckoning with the end of heady pandemic-era growth. A crowded period of quarterly financial releases from the world’s biggest tech firms has been marred by misses and uncertainty — making it clear that the boom triggered by Covid-19 restrictions on getting about has tipped toward […]
Washington, United States | AFP Twitter reported disappointing results on Friday, a miss that the social network attributed to “headwinds” including the uncertainty related to Elon Musk’s buyout bid. The firm is locked in a legal battle with the mercurial Tesla boss over his effort to walk away from his $44 billion deal to purchase the platform, leaving the company in limbo. Twitter missed expectations with revenue of $1.18 billion, due to “advertising industry headwinds… […]
NEW YORK, United States (AFP) — Lower sales in North America and China dented Nike’s quarterly results as the sports giant on Monday projected modest revenue growth amid the strong dollar, rising inflation and other headwinds. The Oregon company — which has enjoyed strong pricing at times during the pandemic but also faced Covid-19 factory lockdowns in Asia that have crimped its inventories — reported lower profits for its fiscal fourth quarter. For the quarter […]
