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LONDON, United Kingdom (AFP) — British energy giant Shell said Thursday that its net profit soared more than five-fold to $18 billion in the second quarter, fuelled by resurgent oil and gas prices, and rewarded shareholders with another bumper buyback. The surge in profits in the three months to June was partially attributable to a reversal of $4.3 billion in impairments after the company raised its forecasts for the gas and oil market. “We […]
SEOUL, South Korea (AFP) — South Korean tech giant Samsung Electronics posted a 58.57 percent rise in first-quarter net profits on Thursday, largely driven by steady memory chip demand and brisk smartphone sales. The world’s biggest memory-chip maker is the flagship subsidiary of the giant Samsung group, by far the largest of the family-controlled empires known as chaebols that dominate business in South Korea, Asia’s fourth largest economy. The conglomerate is crucial to the South’s […]
LONDON, United Kingdom (AFP) — British consumer goods group Unilever on Thursday logged a rising net profit in 2021 but warned that soaring inflation would ramp up costs again this year. Profit after tax rose 8.4 percent to six billion euros ($6.9 billion) last year, Unilever said in a statement. The group, which has faced fierce criticism over its recent failed $50-billion bid for the health care unit of drugmaker GlaxoSmithKline, ruled out any […]
by Sunghee Hwang Agence France Presse SEOUL, South Korea (AFP) — Samsung Electronics, the world’s biggest smartphone and memory chip maker reported fourth-quarter net profits up by more than a quarter year-on-year Thursday, with coronavirus-driven working from home boosting demand for devices powered by its chips. But the figures were below market expectations according to Bloomberg News, and the company warned of persisting uncertainties over the pandemic, and lower profits in Q1 2021 due […]
Facebook profit surged in the final three months of last year as people enduring the holidays in a pandemic turned to the leading social network for work and pleasure, the company said Wednesday. Facebook reported profit of $11.2 billion on revenue of $28 billion, increases of 53 percent and 33 percent when compared with the same period the prior year. “We had a strong end to the year as people and businesses continued to […]
Apple said Wednesday that profits surged in the final three months of the year on growing sales of iPhones and services, which lifted revenues to an all-time record. Profit in the period ended December 26 rose 29 percent from a year ago to $28.7 billion, while revenues grew 21 percent to $111.4 billion, with international sales accounting for nearly two-thirds of sales. Sales topped the $100 billion mark for the first time as Apple won […]
LONDON, United Kingdom (AFP) — Anglo-Dutch oil titan Royal Dutch Shell on Thursday logged third-quarter net profit of $489 million (415 million euros), rebounding after a vast coronavirus-driven loss in the prior three months. Profit after tax for July-September was boosted by steadier oil prices and contrasted with a vast net loss of $18.1 billion in the second quarter, when Shell was slammed by Covid-19. Earlier this year, oil prices dropped off a cliff — […]
by Elaine YU Agence France-Presse HONG KONG, China (AFP) — Banking giant HSBC said on Tuesday that pre-tax profit rose last year but it suffered a bruising final quarter as worries over the global economy and the US-China trade war began to bite. The London-headquartered behemoth told investors it was still aiming to meet targets despite the looming twin storms of Brexit and the long-running trade impasse between Washington and Beijing. But analysts warned it […]
TOKYO, Japan (AFP) — Tokyo stocks closed lower on Thursday as investors took profits after three days of rallies and with fears over the US government shutdown weighing on the market. The benchmark Nikkei 225 index lost 1.29 percent, or 263.26 points, to 20,163.80, while the broader Topix index dropped 0.85 percent, or 13.10 points, to 1,522.01. “As the Nikkei 225 has gained about 900 (points) in the past three days, and as the meeting […]
by Glenn CHAPMAN Agence France-Presse SAN FRANCISCO, United States (AFP) — Apple on Thursday delivered blockbuster earnings, but saw shares punished after a disappointing holiday season forecast and word that it will stop reporting how many iPhones it sells. The California-based technology giant makes most of its money from iPhones, and sales numbers have been seen as a bellwether of the company’s fortunes. Apple shares dove 6.5 percent to $207.78 in after-market trades following the […]
by Rob Lever Agence France-Presse WASHINGTON, United States (AFP) — Twitter shares flew higher Thursday after the social network reported a record quarterly profit that helped investors look past a drop in the number of users due to the weeding out of fake and abusive accounts. The San Francisco group delivered a $789 million profit, including one-time gains, compared to a net loss of $21 million in the previous year, as revenues grew 29 percent […]
FRANKFURT AM MAIN, Germany (AFP) — German sportswear group Puma raised its 2018 outlook Thursday after a stronger-than-expected third quarter, boosted by a new basketball shoe and some celebrity sparkle from model Adriana Lima and Barcelona striker Luis Suarez. The company’s net profit rose 25 percent year-on-year between July and September, to 77.5 million euros ($88 million). Operating, or underlying, profits soared 28 percent to 130 million euros, the leaping-cat brand said. Sales increased 11 […]
