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TOKYO, Japan (AFP) – Sony on Tuesday revised upward its full-year profit and sales forecast, reporting first quarter profits nearly tripled from a year earlier, as it extends a roaring recovery under its new CEO. The electronics and entertainment giant now forecasts 500 billion yen ($4.5 billion) in net profit for the fiscal year to March 2019, up from its earlier estimate of 480 billion yen. Annual sales are now projected to rise slightly, with […]
TOKYO, Japan (AFP)–Nintendo said Tuesday its quarterly net profit jumped 43.9 percent year-on-year to $275 million, driven by the global popularity of its Switch console and game titles. The Kyoto-based game giant reported net profit for the three months to June of 30.6 billion yen ($275 million), with operating profit soaring 88.4 percent to 30.5 billion yen. It said sales were up 9.1 percent to 168.16 billion yen, and it expects strong demand for the […]
SEOUL, South Korea (AFP) – Samsung Electronics on Tuesday reported a 0.1 percent dip in its second quarter net profit from a year earlier, blaming slower sales of smartphones and display panels for the drop. Net profit for the April to June period came in at 11.04 trillion won ($9.9 billion), slightly lower than the 11.05 trillion won in the same period in 2017, the company said in a regulatory filing. Operating profit was 14.87 […]
NEW YORK, United States (AFP) — Ford reported a sharp drop in second-quarter earnings Wednesday and cut its full-year profit forecast, citing weakness in Europe and Asia Pacific. The company also signaled it expects large additional costs associated with a reorganization, a move that will likely deepen questions about the automaker’s strategy. Net income sank 47.9 percent to $1.1 billion. Revenues fell 2.3 percent to $38.9 billion. Ford said its performance remained strong in North […]
NEW YORK, United States (AFP) – Slumping US toymaker Mattel announced Wednesday it will cut 2,200 jobs after reporting another steep loss in the second quarter, sending shares sharply lower. Mattel, the maker of Barbie, Hot Wheels and other toy mainstays, said the job cuts account for 22 percent of its global non-manufacturing staff. Mattel had 35,000 employees at the end of 2017. The company also plans to sell manufacturing sites in Mexico. “Mattel is […]
WASHINGTON, United States (AFP)–Google parent Alphabet shares lifted Monday on a stronger-than-expected earnings report for the past quarter, as the tech giant’s results eased concerns over huge fines imposed by the European Union for antitrust actions. Profit dipped 9.3 percent to $3.2 billion in the second quarter after accounting for the EU fines, the company said. Revenues meanwhile jumped 26 percent from a year ago to $32.7 billion, better than most analysts expected. Shares in […]
SEOUL, South Korea (AFP) — South Korean telecom giant Samsung Electronics on Friday flagged a 5.2 percent rise in second quarter operating profit from a year earlier, missing analyst estimates. Operating profit is expected to come to 14.8 trillion won ($13.2 billion) for the April-June period, higher than the 14.07 trillion won in the same period in 2017, but down from the record 15.64 trillion won of the previous quarter. The forecast came at the low end […]
NEW YORK, United States (AFP)–Nike shares surged Thursday as the company reported higher earnings, announced a new share buyback program and talked up its ambitious digital investment program that emphasizes direct selling to consumers. Nike reported earnings of $1.1 billion in its fiscal fourth quarter, up 12.8 percent from the year-ago period. Revenues also rose 12.8 percent to $9.8 billion. The company bested analyst expectations in both earnings per share and revenues. China was the […]
HONG KONG, China (AFP ) — Hong Kong banking giant HSBC said Friday that pre-tax profit dipped four percent to $4.76 billion in the first three months of the year owing to rising operating costs but added it would buy back $2 billion worth of stock. It also said revenue rose six percent to $13.7 billion in the period as it benefits from an improving global economy and rising interest rates. The upbeat January-March results […]
by Rob Lever Agence France Presse WASHINGTON, United States (AFP) — Twitter reported its second consecutive quarterly profit Wednesday in a positive sign for the short messaging service after years in the red. The San Francisco-based social network earned $61 million in the first three months of the year, helped by strong growth in advertising revenue and modest gains in users. First-quarter revenues rose 21 percent from a year ago to $665 million, and […]
by Glenn Chapman Agence France Presse SAN FRANCISCO, United States (AFP) — Facebook on Wednesday reported a sharp jump in profits in the past quarter, with gains in its user base and strong ad growth as the social network appeared to see no impact from a controversy over privacy. Profit in the first quarter of 2018 leapt 63 percent from a year ago to $5 billion, and total revenues increased 49 percent to $11.97 […]
TAIPEI, Taiwan (AFP) — Taiwan’s struggling smartphone maker HTC posted its worst-ever quarterly loss on Monday, but said it expects a boost from the $1.1 billion deal with Google sealed earlier this year. The deal, completed in January, saw Google buy part of HTC’s smartphone business as the US giant looks to take greater control of its hardware business. HTC has suffered consecutive losses due to stiff competition in the smartphone sector from Apple, […]
