Tag: Profit

Apple reports higher profits, unveils big share buyback

NEW YORK, United States (AFP) — Apple reported a jump in second-quarter earnings Tuesday and announced a new $100 billion share buyback plan, although sales of iPhone smartphones narrowly missed expectations. Apple reported a 25.3 percent rise in earnings to $13.8 billion following 15.6 percent increase in revenues to $61.1 billion. The company exceeded analyst expectations in per-share earnings and revenues, lifting shares in after-hours trading. But iPhone sales for the quarter ending March 31 […]

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Volkswagen sees ‘good start’ to 2018 despite slip in profits

by Michelle FITZPATRICK Agence France-Presse (AFP) — German car giant Volkswagen on Thursday reported a drop in profits but nonetheless said strong sales got the year off to “a good start”, as new CEO Herbert Diess pushes on with a post-dieselgate revamp of the behemoth. VW said it booked a net profit of 3.22 billion euros ($3.9 billion) between January and March, down nearly three percent on the same period a year earlier and slightly […]

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Samsung Electronics Q1 net profits up by more than half

SEOUL, South Korea (AFP) — South Korean telecoms giant Samsung Electronics saw net profits leap by more than half in the first quarter, it said Thursday, thanks to strong demand for memory chips and its latest high-end smartphone. The firm, the world’s biggest maker of memory chips and the flagship subsidiary of the sprawling Samsung group, has recovered from a series of setbacks to post record profits in recent quarters. It faced an embarrassing global […]

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Qantas outlines pilot academy plans as profit soars

SYDNEY, Australia (AFP) — Qantas Airways posted a bumper 17.9 percent jump in interim net profit Thursday and announced a share buyback while outlining plans to create one of the southern hemisphere’s biggest pilot academies. The Australian carrier’s result came in at Aus$607 million (US$473 million), with a strong performance from its domestic arm boosting the bottom line. Underlying profit before tax, its preferred measure, which strips out one-time costs, was the highest in its […]

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Apple delivers record profit, seeks to allay iPhone X fears

SAN FRANCISCO, United States (AFP) — Apple on Thursday reported a $20 billion profit in a record-setting quarter and said sales of its newest iPhone X smartphone were better than expected. Revenue in the final three months of last year increased 13 percent to $88.3 billion, according to the California-based technology giant. “We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone […]

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Fujifilm to cut 10,000 jobs at subsidiary amid Xerox takeover

TOKYO, Japan (AFP) — Japanese technology firm Fujifilm on Wednesday announced 10,000 job cuts by March 2020 at its Fuji Xerox subsidiary, which it said was facing an “increasingly severe” market environment. In a major shake-up, Fujifilm also announced it would be combining Fuji Xerox with US giant Xerox, bringing both companies under its umbrella to create what it said was the world’s largest “document solutions company” by revenue. As part of a cost-cutting package […]

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Siemens says profits up on global upturn

FRANKFURT AM MAIN, Germany (AFP) — German engineering giant Siemens said Wednesday that profits jumped in the first quarter, driven by rising demand for its products in areas ranging from renewable energy and trains to industrial robots. Siemens, which runs its business year from October to September, said in a statement net profit jumped by 12 percent to 2.2 billion euros ($2.7 billion) in the three months to December. Underlying or operating profit was also […]

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Asian markets turn lower as US tax-cut fears brew

HONG KONG, China (AFP) — Asian markets headed into the weekend on a negative note on Friday as traders fret over the outlook for Donald Trump’s much-vaunted tax-cut plans while profit-takers cashed in after the latest rally. The losses extended the broad regional sell-off Thursday, which started when Tokyo’s Nikkei saw a two percent gain in the morning reverse to a 1.7 percent loss at one point. While investors will be keeping an eye on […]

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Global stocks tumble as Wall Street, Tokyo hit reverse

NEW YORK, United States (AFP) — Global stocks tumbled Thursday as disappointing earnings, profit taking and fears a US corporate tax cut will be delayed combined to drive major indices down. US stocks closed lower after declines in Japan, London, Frankfurt and Paris. Major tech stocks saw heavy losses: Google-parent Alphabet fell a full percentage point, Microsoft gave up 0.6 percent and Apple lost 0.4 percent. “A combination of profit taking and perhaps the prospect […]

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Samsung Electronics posts record Q3 profits of $10 bn

by Jung Ha-Won Agence France-Presse SEOUL, South Korea (AFP) — South Korean tech giant Samsung Electronics logged a record profit of 11.2 trillion won — $10.0 billion — in the July to September period, it said Tuesday, its best for any quarter. The world’s biggest memory chip and smartphone maker has had its de facto leader jailed for bribery and faced a recall of its flagship Galaxy Note 7 device. But its net profits soared […]

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Twitter shares soar as profit comes into view

by Rob Lever Agence France Presse WASHINGTON, United States (AFP) — Twitter shares staged a powerful rally Thursday after the long-struggling social network said it hopes to post its first profit soon, following years of losses. The sharp rebound sent Twitter shares higher by 18.5 percent to $20.31 — the highest close in three months — on the back of investor optimism at its third quarter results, even though the firm posted ongoing losses and […]

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Microsoft tops forecasts with 16% profit growth

SAN FRANCISCO, United States (AFP) — Microsoft on Thursday delivered stronger-than-expected earnings for the past quarter, lifted by gains in cloud computing and other business services. For its first fiscal quarter to September 30, the tech giant said profit was up 16 percent from a year ago to $6.6 billion. Revenue meanwhile rose 12 percent to $24.5 billion for the one-time tech sector leader which has shifted its focus away from consumer software to a […]

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