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Earnings News

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.

Wells Fargo earnings rise as credit quality improves

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....

JPMorgan earnings fall 19% on lower mortgage income

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.

Skoda revs up record sales, reports boost in China

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.

Marks & Spencer reports rising Q4 sales

London - High street retailer Marks & Spencer posted rising fourth-quarter sales on Thursday, boosted by strong performances for clothing and food, and also at its international division. Sales climbed 1.

Alcoa reports loss as it shutters capacity

New York - Aluminum giant Alcoa Tuesday reported a quarterly loss due to heavy restructuring expenses after it shut smelters and rolling mills in response to low aluminum prices.

Samsung Q1 operating profit estimated at 8.4 trillion won

Seoul - Samsung Electronics said Tuesday its estimated first quarter operating profit was 8.4 trillion won (7.96 billion dollars), meeting market expectations.

Taiwan's HTC posts $60 mn losses as sales hit 5-year low

Taipei - Taiwan's struggling smartphone maker HTC posted a net loss of Tw$1.88 billion ($62.3 million) in the first quarter, a figure far worse than the Tw$1.59 billion analysts forecast.Sales in the three months to March fell to a five-year low of Tw$33.

Taiwan's Hon Hai profit up 12.7% in 2013 on iPhone demand

Taipei - Taiwan tech giant Hon Hai Precision, the world's largest contract manufacturer for electronics, saw its net profit rise 12.7 percent on-year in 2013, bolstered by demand for Apple's new products.

BlackBerry posts fresh losses, but sees upside

Montreal - BlackBerry reported fresh losses Friday but offered some reasons for optimism as the smartphone maker struggles to escape from a death spiral.

BlackBerry posts fresh losses, but sees upside

Montreal - BlackBerry reported fresh losses Friday but offered some reasons for optimism as the smartphone maker struggles to escape from a death spiral.

BlackBerry posts fresh losses

Montreal - The struggling smartphone maker BlackBerry on Friday reported a loss of $423 million in the fourth quarter of its 2014 fiscal year, with revenues plummeting.The company said revenues fell to $976 million in the fourth quarter -- down from $2.
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