Earnings News

London - Supermarket giant Tesco announced a second drop in annual profits in a row on Wednesday, leaving Britain's biggest retailer hoping that recent expansion into India and China can offset weakness in Europe.

New York - Yahoo reported a stronger-than-expected first-quarter profit Tuesday, results hailed by chief executive Marissa Mayer as showing growth in the Web giant's "core" business.The California Internet company said it earned $312 million on revenues of $1.

Stockholm - Swedish ball bearing manufacturer SKF, a barometer of global manufacturing, returned to profit in the first quarter of 2014, the company said on Tuesday citing rising sales.

Z - The world's leading food industry group Nestle saw its sales plunge 5.1 percent in the first quarter, it said on Tuesday, blaming the effect of exchange rates and strength of the Swiss franc.

Bangalore - Indian outsourcing giant Infosys reported Tuesday a better-than expected 25 percent jump in quarterly net profit, after winning new contracts in Europe and the United States.

New York - Citigroup reported slightly higher quarterly earnings on Monday, as lower expenses and credit losses helped offset revenue declines in mortgage finance and trading.

Frankfurt - Loss-making German automaker Opel, a unit of General Motors, could steer back to profit as early as next year, its chief said in an interview on Monday.

New York - Wells Fargo Friday reported higher earnings on better credit quality as increases in industrial and commercial loans offset declines in many home-lending categories.Wells Fargo, the nation's largest mortgage lender, said first-quarter earnings were $5....

New York - JPMorgan Chase Friday reported lower earnings due to a drop in its mortgage business as the US banking giant seeks to turn the corner after costly legal settlements.

Prague - Czech car group Skoda on Thursday announced record sales in the first quarter of the year, driven mainly by impressive results from China.Sales rose 12.