Tag: earnings

Boeing keeps tough line on Bombardier as earnings fall

 by John Biers Agence France-Presse NEW YORK, United States (AFP) — Boeing strongly defended its tough stance in a trade dispute with Canada’s Bombardier Wednesday, as it reported lower quarterly earnings in part due to unexpected costs on a military contract. Boeing chief executive Dennis Muilenburg defended a complaint against the Canadian company over alleged illegal subsidies, a dispute that has deepened tensions between Canadian Prime Minister and US President Donald Trump. “We like competition. It makes us […]

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Dow ends at fresh record as markets await ECB

NEW YORK, United States (AFP) — Wall Street roared back into record territory Tuesday following strong earnings from leading industrial companies, while European equities edged higher ahead of a key ECB meeting. The Dow Jones Industrial Average jumped to its sixth record in seven sessions following huge gains by Caterpillar and 3M following strong earnings. The Dow’s 0.7 percent rise came one day after US equities had faltered in a rare pullback from a record-rich […]

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Samsung Electronics expects record $12.8bn Q3 operating profit

Samsung Electronics said Friday it expected profits to hit an all-time high in the third quarter, as booming semiconductor sales boost the South Korean IT giant. The company estimated operating profits of 14.5 trillion won ($12.8 billion) in the July-September period, a record for quarterly profit and nearly three times the 5.2 trillion won earned a year earlier. Sales are expected to have surged 29.65 percent on-year to 62 trillion won. Samsung did not announce […]

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Uniqlo operator says annual profit soars to record

 TOKYO, Japan (AFP) — Uniqlo’s parent company said Thursday that its annual net profit more than doubled from a year ago to a record thanks to strong sales and as a cheaper yen inflated profits. Fast Retailing’s net profit came in at 119 billion yen ($1 billion) in the fiscal year through August, with revenue up 4.2 percent at 1.86 trillion yen, it said. Asia’s biggest retailer — a rival of Zara, Gap and H&M — said sales […]

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Unilever first half profits soar 22.4 percent

THE HAGUE, Netherlands (AFP) — Food and consumer products giant Unilever said Thursday profits soared in the first half of 2017, raking in 3.3 billion euros after the Anglo-Dutch firm spurned a takeover bid by US rival Kraft Heinz. The 22.4 percent hike in the first six months compared to the same period last year showed “a substantial step-up in profitability despite the persisting volatile global trading environment,” chief executive Paul Polman said. “The transformation of […]

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Toshiba delays results again; warns of $8.4 billion net loss

TOKYO, Japan (AFP) – Troubled conglomerate Toshiba on Monday said it will delay reporting its annual earnings for the past fiscal year, but warned it is on track to book a net loss of 950 billion yen ($8.4 billion). The delay comes after one of Japan’s best-known companies twice postponed its nine-month earnings before releasing unaudited results last month. The delays have stirred fears that the huge conglomerate’s shares could be delisted from the Tokyo […]

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Sony sets sights on two-decade profit high

TOKYO, Japan (AFP) — Sony said Friday it is on track to report its highest annual operating profit in 20 years owing to strong sales in its smartphone component business and PlayStation console division. The once all-conquering company, which has been emerging from a painful restructuring, said it expects its operating profit to hit 500 billion yen ($4.5 billion) in the year to March 2018. That would be its best figures since a 525.7 billion […]

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Hong Kong’s Cathay Pacific sees first loss in 8 years

HONG KONG, China (AFP) — Hong Kong’s troubled flagship airline Cathay Pacific on Wednesday posted its first annual loss since the height of the financial crisis as it was hit by “intense competition” and a drop in demand from business travellers. The firm is struggling despite an expansion of international air travel in the region as lower cost carriers, particularly from mainland China, eat into its market share. Companies like China Eastern and China Southern […]

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