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by Glenn CHAPMAN Agence France Presse Netflix shares slid on Tuesday after the US streaming television titan reported that subscriber growth slowed in the recently ended quarter, after booming in the early days of the pandemic. While Netflix added 28.1 million paying subscribers so far this year, only 2.2 million of them came in the third quarter, the company said in an earnings release letter. “We think this is primarily due to our record […]
LONDON, United Kingdom (AFP) — Anglo-Dutch energy major Royal Dutch Shell posted Thursday a colossal net loss of $18.1 billion (15.4 billion euros) for the second quarter, blaming massive asset writedowns on the coronavirus-hit oil market. The performance, contrasting sharply with profit after tax of $3.0 billion a year earlier, was sparked by a huge $16.8-billion charge on chronic fallout both from COVID-19 and collapsing oil prices. The vast charge was taken “as a result […]
NEW YORK, United States (AFP) — American Airlines became the latest US carrier to report a hefty second-quarter loss, but said it made progress in reducing cash burn, according to results released Thursday. The company suffered a $2.1 billion loss in the quarter ending June 30, compared with profits of $662 million in the year-ago period. Revenues plunged 86.4 percent to $1.6 billion behind a steep drop in customer traffic. “This was one of the […]
PARIS, France (AFP) — Total said Tuesday its quarterly profit fell by 99 percent because of dropping oil prices and announced it would slash investments in response to ongoing turmoil in crude markets. The French oil major reported a net profit of $34 million for the first quarter, against $3.1 billion a year earlier. Oil prices suffered a sharp drop in the first quarter due to overproduction and a price war between Saudi Arabia and […]
SAN FRANCISCO, United States (AFP) — Apple announced Monday it would miss its March quarter revenue forecast and global iPhone supplies would fall because of the deadly coronavirus epidemic, triggering a fall in Asian stock markets. The COVID-19 death toll now exceeds 1,800 in China, where it has infected more than 72,000 after emerging in the central province of Hubei in December. The virus has sparked global economic jitters, with travel bans and mass quarantines […]
HELSINKI, Finland (AFP) — Finnish telecom equipment provider Nokia beat expectations in a “challenging” 2019 as a strong fourth quarter enabled it to post its first full-year net profit since 2015, of 7.0 million euros. For the three months to December, it chalked up net profit of 563 million euros ($620 million), sparking sharp gains in the share price. Nokia was up more than 2.05 percent on the Helsinki Stock Exchange around early afternoon at […]
by Glenn CHAPMAN Agence France-Presse SAN FRANCISCO, United States (AFP) — Google parent Alphabet missed revenue expectations in the fourth quarter despite stellar growth at YouTube and in the cloud, earnings figures released Monday showed. Detailing its cloud computing and YouTube revenues for the first time, Alphabet reported that profits rose 19 percent from a year ago in the quarter to nearly $10.7 billion as revenues increased 17 percent to $46 billion. Alphabet and Google chief […]
by John BIERS NEW YORK, United States (AFP) — Boeing reported its first annual loss in more than two decades Wednesday as the lengthy grounding of the 737 MAX to undercut the company’s revenues and exploded costs. The aerospace giant reported a $1.0 billion loss in the fourth quarter and a loss of $636 million for all of 2019, the company’s first year in the red since 1997. Newly-installed chief executive David Calhoun, who took […]
SAN FRANCISCO, United States (AFP) — Netflix said Tuesday it added millions of new subscribers globally over the past quarter as it ramped up for a tougher competitive landscape, but scaled back its outlook for early 2020. The global streaming television giant largely beat expectations with a profit of $587 million in the fourth quarter as revenue rose 31 percent from a year ago to $5.5 billion. Netflix added a better-than-expected 8.8 million subscribers worldwide […]
WASHINGTON, United States (AFP) — Twitter shares skidded Thursday after reporting weak growth in the past quarter resulting from glitches that made it harder to bring in advertising revenue. Profit for the third quarter was $37 million, a sharp drop from last year when Twitter was helped by a large tax benefit. Revenue rose nine percent from a year earlier to $824 million, well below analyst forecasts, impacted by what the company called “revenue product […]
WASHINGTON, United States (AFP) — Microsoft said profits climbed in the past quarter on its cloud and business services as the US technology giant saw its market value close in on the trillion-dollar mark. Profits in the quarter to March 31 rose 19 percent to $8.8 billion on revenues of $30.8 billion, an increase of 14 percent from the same period a year earlier. Microsoft shares gained some three percent in after-hours trade, pushing it […]
NEW YORK, United States (AFP) — Boeing shares slumped Monday on the company’s weakened profit outlook after it announced last week it will cut production of 737 planes following two deadly crashes. Shares were down 4.5 percent at $374.02 in afternoon trading, weighing on the Dow in the first session since Boeing announced late Friday it would trim production to 42 planes per month, down from 52 per month. Several analysts downgraded profit estimates, […]
