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Earnings News

UBS pockets 14% profit rise

Zurich - UBS said Friday its net profit climbed 14 percent in the third quarter to 946 million Swiss francs (814 million euros, $946 million) and Swiss banking giant expressed confidence about improving market conditions.

Uber earning engine purrs despite bumpy road

San Francisco - Uber's financial engine appeared to be purring despite its image being dented so badly its chief was pressured to resign.Earnings figures first reported at news website Axios and confirmed by AFP showed that adjusted net revenue at Uber was $1.

Alibaba profit nearly doubles on robust revenues

Shanghai - Chinese e-commerce giant Alibaba said Thursday its net profit almost doubled in the latest quarter on the back of solid revenue growth in its core shopping business and in cloud computing.

Alibaba quarterly profits almost double to $1.55 bn

Bejing - Chinese e-commerce giant Alibaba said Thursday its net profit almost doubled in the latest quarter on the back of soaring growth in online shopping.

Toyota logs first annual profit fall in five years

Toukyo - Toyota on Wednesday reported its first drop in annual net profit for five years, while it unexpectedly warned that earnings would fall again owing to pricey US customer incentives and a forecast pick up in the yen.

VW confirms forecast after jump start to 2017

Frankfurt Am Main - German carmaker Volkswagen on Wednesday confirmed its forecasts for 2017 after boosting revenue and profits in the first quarter, even as its emissions cheating scandal continues to make headlines.The group reported net profit of 3.

Daimler races ahead of expectations in Q1

Berlin - German top-of-the-range carmaker Daimler said its underlying profits overtook expectations and almost doubled in the first three months of the year, driven by the strong performance of its Mercedes-Benz brand.

BMW to squeeze more mileage out of luxury segment

Frankfurt Am Main - German luxury carmaker BMW said Tuesday it was planning as many as 40 new top-of-the-range models in the coming years in an effort to catch up after historic rival Mercedes outsold it in 2016.

Mexico's Pemex cuts losses to $14.3 bn in 2016

Mexico - Mexico's state-run energy giant Pemex reported losses of $14.3 billion for 2016 on Monday, halving its losses from the previous year and saying "austerity" measures were starting to pay off.

EasyJet expects bigger earnings hit from weak pound

London - EasyJet expects full-year profits to suffer a bigger-than-expected hit with the pound down sharply since the Britain voted to exit the European Union, the no-frills airline said Tuesday.

Samsung slashes profit estimate after Note 7 disaster

Seoul - Samsung Electronics on Wednesday slashed its latest quarterly profit estimate by one third in the wake of a highly damaging recall crisis that ended with the scrapping of its latest flagship smartphone.

BMW powers through second quarter towards record year

Frankfurt - A favourable world auto market helped German carmaker BMW to post profits 11 percent higher in the second quarter than the same period last year, results released on Tuesday showed.The Munich-based firm said that it had made 1.95 billion euros ($2.

Tata Motors profits soar on strong Jaguar Land Rover sales

Mumbai - India's largest carmaker Tata Motors reported a three-fold increase in quarterly profits Monday, boosted by strong sales of luxury British unit Jaguar Land Rover and a one-off insurance payment.

Honda says recalling millions more cars with Takata airbags

Toukyo - Honda said Friday it would recall millions more cars equipped with airbags made by crisis-hit supplier Takata, in a widening of a scandal that has already led to the biggest auto recall in US history.

New sales of VW cars down 2.0% in Germany in November

Frankfurt - The number of new Volkswagen cars registered in Germany declined by 2.0 percent in November, but VW remained the biggest-selling brand in its home country, official data showed on Wednesday. New registrations of VW cars declined by 2.

Deutsche Bank to slash 15,000 jobs, exit 10 countries after losses

Frankfurt - Deutsche Bank, Germany's biggest lender, unveiled Thursday a massive new cost-cutting drive, saying it would axe thousands of jobs and close down operations in 10 countries after it clocked up record losses in the third quarter.

NY Times tops one million digital subscribers

New York - The New York Times said Thursday its digital paid subscriptions had topped one million for the first time, as it reported a jump in quarterly profits.

Apple sold 48m iPhones last quarter, iPad lost out to Microsoft

Apple has announced it has sold 48 million iPhones in the past three months, boosting its total revenue up by over 32 percent based on the same period last year. It refused to say how many Apple Watches were sold though, as Microsoft accepted a huge loss.

U.S. companies have $2.1 trillion worth of profit stored overseas

The U.S. Congress must find a way to tax offshore profits stored by some of the world's largest corporations. Currently letting their earnings safely mount up abroad, lawmakers are considering a special "deluxe" tax rate to get money from the companies.

Apple report largest quarterly profit ever; 74.5m iPhone sales

The previous record was $15.9 billion as set by ExxonMobil in the second quarter of 2012. Apple's figure stands at over $2 billion more than this figure.

Yahoo sees signs of growth in 'core'

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.

Tesco seeks Asia pick-up after fresh profit setback

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.

Target reports 16% drop in earnings

Doling out deep discounts to shift shoppers back into their stores, the nationwide retailer announced a 16 percent drop in profits.

Tesco seeks Asia pick-up after fresh profit setback

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.

Yahoo sees signs of growth in 'core'

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.

SKF back to profit in first quarter on rising sales

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.

Nestle reports sales slump, blames strong Swiss franc

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.

India's Infosys profit up 25%, beats forecasts

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.

Citi profits up 3.5% on lower costs, improved credit

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.

Opel eyes return to profit in 2015

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.
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