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Earnings News

HSBC profit slump adds to bank sector virus woes

Fpo - HSBC on Monday reported a 69-percent slump in net profit, joining a number of major banks whose earnings have been slammed by the coronavirus fallout.HSBC announced earnings of $3.1 billion (2.

HSBC profits hammered by pandemic and soaring US-China tensions

Fpo - HSBC said Monday profits for the first half of 2020 plunged by 69 percent on year as the banking giant was hammered by the coronavirus pandemic and spiralling China-US tensions.The lender reported post-tax profit of $3.

2.6-billion euro loss for Air France-KLM in virus-hit 2nd quarter

Paris - Air France-KLM on Thursday announced a second-quarter loss of 2.6 billion euros ($3.1 billion), thanks to grounded flights during the virus pandemic, adding that the twin airlines must "significantly reduce" the workforce.

Uber losses widen but appetite grows for Eats

San Francisco - Uber said Thursday its losses widened in the first quarter as the pandemic bit hard into ridesharing but that it saw signs of recovery and a booming appetite for its Eats meal delivery helping it through the crisis.

Warren Buffett: 'American magic' will spur US economic recovery

Washington - Billionaire investor Warren Buffet said Saturday he's confident the US economy will bounce back from its pummeling by the coronavirus pandemic because "American magic has always prevailed.

Apple boosts revenues, profits dip in pandemic-hit quarter

San Francisco - Apple on Thursday reported profit slipped as it boosted revenue from services and wearables in a pandemic-cobbled start to the year for the iPhone maker.Profit dipped to $11.2 billion on sales of $58.

Facebook surges on user growth in pandemic, sees murky outlok

San Francisco - Facebook on Wednesday reported a sharp jump in usage as the global pandemic unfolded, in a quarterly update that sparked a rally in shares of the social network despite its warning of turbulence in the coming months.

Coronavirus pushes Airbus into Q1 loss

Paris - European aviation giant Airbus plunged into the red in the first quarter as the coronavirus pandemic sparked "the gravest crisis the aerospace industry has ever known", it said Wednesday.

Samsung Electronics profit slips on virus, more falls forecast

Seoul - The world's biggest smartphone maker, Samsung Electronics, reported first-quarter net profits down just three percent on Wednesday, as the coronavirus pandemic dampened consumer demand, but warned of further falls to come.

Netflix sees record sign-ups during pandemic lockdowns

San Francisco - Netflix on Tuesday reported soaring profits as subscriptions surged by almost 16 million at the streaming television service during lockdowns to slow the spread of the coronavirus pandemic.

Coronavirus buffets Air France as 2019 profits dive

Paris - French-Dutch airline Air France-KLM said Thursday the coronavirus has blown a large hole in 2020 earnings to date while separately unveiling lower profits for 2019.

Furious shareholders blast Nissan bosses

Apo - Shareholders livid about the performance of struggling Japanese car giant Nissan on Tuesday blasted bosses over dividends, executive pay, the stock price, and even the type of vehicle they use.

Apple to miss revenue forecast as iPhone supply hit by coronavirus

San Francisco - Apple is to miss its revenue forecast for the March quarter due to the coronavirus epidemic, the US tech giant said Monday, warning that iPhone supplies worldwide would also be impacted, underlining the economic cost of the health crisis.

Mining giant BHP warns coronavirus could impact demand

Sydney - BHP, the world's biggest miner, warned Tuesday that demand for resources could be hit by the novel coronavirus outbreak in China unless the epidemic is contained by the end of March.

As Apple reports strong Q1 earnings, where does the firm go next? Special

Apple Inc. has reported strong earnings growth, issuing a statement on January 28, after the market closed. The iPhone 11 led the charge. Apple experienced double-digit growth in many developed markets, including the US, the UK, France and Singapore.

Why has Nordstrom exceeded earnings expectations? Special

Nordstrom’s success building customer experiences across its many channels is the reason why the firm has exceeded the earnings expectations of most stock market analysts, says Darin Archer, Chief Strategy Officer at Elastic Path.

Facebook shares up, but will privacy regulation start to impact? Special

Facebook's stock rose in after-hours trading after the company posted third-quarter earnings that exceeded analysts expectations - at least for now. But what does the future hold for the company and where might the main risks come from?

Google parent Alphabet quarterly profit misses mark

San Francisco - Google parent Alphabet on Monday reported a sharp drop in profit over the past quarter as it ramped up spending for a wide array of new gadgets and services.Profit dipped 23 percent from a year ago to $7.1 billion as revenue grew 20 percent to $40.

Google parent Alphabet profits slip amid bigger investments

San Francisco - Google parent Alphabet on Monday reported a sharp drop in profits over the past quarter as it ramped up spending for the launch of a wide array of new gadgets and services.Profit dipped 23 percent from a year ago to $7.

Google parent Alphabet quarterly profit misses mark

San Francisco - Google parent Alphabet on Monday reported a sharp drop in profits over the past quarter as it ramped up spending for a wide array of new gadgets and services.Profit dipped 23 percent from a year ago to $7.1 billion as revenue that 20 percent to $40.

Speedy delivery hits Amazon's bottom line; shares slump

San Francisco - Amazon on Thursday reported quarterly profits shy of Wall Street forecasts as it poured money into speeding up delivery time to just a day.Net income slid 27 percent from last year to $2.

Amazon shares hit by earnings disappointment

San Francisco - Amazon on Thursday reported that quarterly profits shy of Wall Street forecasts, sending shares of the tech giant tumbling in after-market trades.Net income slid 27 percent from last year to $2.

Cloud computing gains drive up profit for Microsoft

San Francisco - Microsoft reported Wednesday that quarterly profits rose on the back of its thriving cloud computing business which has become a core focus for the US technology giant.Profits rose 21 percent to $10.

Netflix revs up growth as streaming TV war looms

San Francisco - Netflix shares rallied Wednesday after its latest quarterly update showed robust subscriber growth and better-than-expected profits ahead of a major escalation in the streaming television war.

Canopy Growth posts $1 billion loss in first-quarter earnings

In its latest quarterly results, Canopy Growth posted a $1.2 billion loss and lower than expected sales, citing the risk of “oversupply of certain oil and gel-cap formats in certain markets.”

Airbus profits more than double in first half

Paris - European aerospace giant Airbus Wednesday reported profits more than doubled in the first half of the year, a strong result it attributed mainly to increased production of its A320 family of aircraft.It said net profits reached 1.197 billion euros ($1....

World's biggest chemical company slashes earnings forecast

The world's largest chemical producer, BASF SE, fired a warning shot across industries, saying slowing markets from cars to crops and the impact of the U.S.-China trade war threaten to cut profits by 30 percent this year.

Apple tops forecasts as pivot to services shows progress

San Francisco - Apple delivered stronger-than-expected results Tuesday for the past quarter as gains in services helped offset slumping iPhone sales, sparking a rally in shares of the technology giant.

Mexico's Pemex loses $1.88 bn in Q1

Mexico - Mexican state oil company Pemex registered a loss of 35.7 billion pesos ($1.88 billion) in the first quarter of 2019, it announced Tuesday, falling back into the red despite a government bailout.

Q&A: What can technology firms do to close the gender pay gap? Special

The tech industry is fighting an uphill battle when it comes to gender equality. One study suggests men are offered higher salaries than women for the same job roles 63 percent of the time. Rachel Ernst outlines what can be done.
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