All about the Profit

"Reuters" : Panasonic first quarter profit up 17 percent; expects profit from Tesla's Model 3 batteries by year-end

noreply@blogger.com (jack luxor) — Tue, 01 Aug 2017 06:56:00 +0000

Panasonic said April-June profit rose to 83.93 billion yen ($758.93 million) from 71.81 billion yen a year earlier. The firm maintained its 335 billion yen operating profit forecast for the year ending March, versus the 344.23 billion yen average of 17 analyst estimates. In the same quarter, in June, Panasonic began battery cell production for Tesla Inc's mass-market Model 3 electric vehicle at their $5 billion "Gigafactory". That compared with the 86.14 billion yen average of 9 analyst estimates in a poll by Thomson Reuters I/B/E/S. A man is seen next to Panasonic Corp's logo at Panasonic Center in Tokyo, Japan, February 2, 2017.

as mentioned in

Japan's Honda posts stronger-than-expected first quarter operating profit

3 automaker came in at 269.2 billion yen ($2.44 billion) in April-June, up from 266.84 billion yen a year ago and above estimates for 230.43 billion from seven analysts polled by Thomson Reuters I/B/E/S. Operating profit at Japan's No. Honda raised its forecast for full-year operating profit to 725 billion yen, from a previous forecast of 705 billion yen, as it expects a smaller negative currency impact. It now expects the U.S. dollar to average around 107 yen through March, from a previous forecast of 105 yen. The logo of Honda is pictured at the 38th Bangkok International Motor Show in Bangkok, Thailand March 28, 2017.

Sony's sets record with three-fold jump in first quarter operating profit

Profit increased 2.8 times to 157.61 billion yen ($1.43 billion) in April-June, exceeding the previous first-quarter record of 121.3 billion yen set in 2007. The firm maintained its profit forecast of 500 billion yen for the year ending March. The result compared with a Thomson Reuters Starmine SmartEstimate of 129.14 billion yen drawn from 10 analyst views. Logos of SonyCorp are seen at an electronics store in Narita International airport in Narita, Japan, November 1, 2016. TOKYO (Reuters) - Japan's Sony Corp on Tuesday reported its highest-ever first-quarter operating profit, taking the electronics giant one step toward its highest annual profit in two decades on the back of solid sales of image sensors.

read more visit us profit

collected by :Jack Luxor

"gulf news" said : Sabic’s second quarter net profit declines 25 per cent

noreply@blogger.com (jack luxor) — Mon, 31 Jul 2017 04:23:00 +0000

Riyadh: Saudi Basic Industries Corp (Sabic), the world's fourth-biggest petrochemicals company reported a 25 per cent decline in second-quarter net profit on Sunday, amid higher selling costs and lower sales. Sabic made a net profit of 3.71 billion riyals in the three months to June 30, down from a revised 4.96 billion riyals in the year-earlier period, the company said in a bourse statement. Aiming to be Number 3 petrochemicals producer globally, Sabic attributed the profit fall to higher cost of sales and lower sales quantities. Sabic said the company will make announcement by end of third quarter on Aramco project. Sabic, like most Saudi publicly listed firms adopted IFRS accounting standards in January this year.

as mentioned in

Partners Life annual profit down 13 per cent

Partners Life received the second tranche of $71.5m on June 28, adding to the $68.3m injection in September last year. In May last year, Partners Group Holdings, the immediate parent of Partners Life, entered into a subscription agreement with Blackstone to invest $200m in three tranches over the next two years. Partners Life, which counts US private equity firm Blackstone as a cornerstone investor, posted a 13 per cent drop in annual profit as persistently low interest rates increased the life insurer's theoretical long-term liability, while its preferred underlying earnings measure was largely flat on the year. Customer numbers rose 15 per cent to 145,000, while in-force annual premiums were up 20 per cent to $207m. Partners Life paid $75.6m in commissions to advisers, up from $70.1m a year earlier, of which acquisition commissions were up 1.8 per cent to $58.1m and maintenance commissions climbed 31 per cent to $17.5m.

Revenues in the second quarter fell 3 per cent to 35.05bn riyals compared to 36.26bn riyals in the same quarter last year. Analysts polled by Bloomberg had forecast a profit in the second quarter ranging from 4.66bn riyals to 4.89bn riyals. Net profit in the three months ended June fell to 3.71 billion riyals (Dh3.63bn) compared 4.96bn riyals a year earlier. Sabic, one of the world's biggest petrochemical companies, said second-quarter net profit fell 25 per cent amid lower average selling prices, higher cost of sales and a net loss at its steel and iron unit. Sabic facebook/" target="_blank">shares of dropped as much as 1.16 per cent to 98.9 riyals in Riyadh.

read more visit us profit

collected by :Jack Luxor

"MarketWatch" said : Merck profit and sales rise, beat expectations amid big jump in Keytruda sales

noreply@blogger.com (jack luxor) — Sun, 30 Jul 2017 00:56:00 +0000

Revenue rose 1% to $9.93 billion from $9.84 billion, above the FactSet consensus of $9.75 billion. Excluding non-recurring items, the drug giant said adjusted earnings per share came to $1.01, beating the FactSet consensus of 87 cents. Among Merck's top selling drugs, Januvia/Janumet revenue fell 8% to $1.51 billion, missing the FactSet consensus of $1.62 billion, while Keytruda revenue nearly tripled to $881 million, beating expectations of $787.5 million. Merck & Co. MRK, +0.66% reported Friday a second-quarter net profit that rose to $1.95 billion, or 71 cents a share, from $1.21 billion, or 43 cents a share, in the same period a year ago. For 2017, Merck affirmed its adjusted EPS outlook of $3.76 to $3.88, but revised its revenue guidance higher to $39.4 billion to $40.4 billion from $39.1 billion to $40.3 billion.

as informed in

Amazon plows ahead with high sales and spending; profit plunges

"G&A up 50 (percent) is crazy," referring to general and administrative costs in the second quarter. Subscription sales including Prime fees rose 51 percent in the second quarter to $2.2 billion. Sales from Amazon Web Services, the company's cash cow and the biggest cloud-computing business in the world, rose 42 percent to $4.1 billion. Operating expenses rose 28.2 percent to $37.33 billion in the second quarter ended June 30. He added, "Our video content spend will continue to grow, both sequentially and quarter over quarter."

Amazon has been expanding from its original mission as an online retailer to a diversified tech firm in cloud computing, online video, computer hardware and artificial intelligence. The company also recently announced plans to acquire US grocer Whole Foods, which could help Amazon expand in that sector. "Our teams remain heads-down and focused on customers," Amazon founder and chief executive Jeff Bezos said in a release. Investments, depreciation of equipment, share buys and other expenses ate into revenue in a familiar pattern of Amazon putting long-term growth ahead of short-term profit. Amazon is once again shaking up the retail sector, with the announcement in June that it will acquire upscale US grocer.

read more visit us profit

collected by :Jack Luxor

Chevron swings to profit as charges shrink quoting : "Reuters"

noreply@blogger.com (jack luxor) — Fri, 28 Jul 2017 18:22:00 +0000

The company's average price of natural gas was $2.32 per thousand cubic feet, nearly double the price it realized a year ago. Upstream operations, which include exploration and drilling, meanwhile, in the U.S., slimmed its loss to $102 million from a $1.11 billion loss the year before. Chevron Corp. swung to a profit in the second quarter as it benefited from higher crude oil and natural gas prices and efforts to cut costs throughout its operations. Chevron's average sales price per barrel of crude oil and natural gas liquids was $41, up from $36 in the year-ago period. In all for the June quarter, Chevron reported a profit of $1.45 billion, or 77 cents a share, compared with a loss of $1.47 billion, or 78 cents a share, a year ago.

As it stated in

(Reuters) - Chevron Corp (CVX.N) swung to a quarterly profit on Friday, helped largely by resurgence in oil and gas production as prices jumped and costs slipped. Rival Exxon Mobil Corp (XOM.N) reported a lower-than-expected quarterly profit earlier on Friday. FILE PHOTO: The logo of Chevron Corp is seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan April 4, 2017. With oil prices inching higher, that also boosted the company's profit. Projects that Chevron had been building for years have started to come online and allowed Chevron to progress from spending on construction to marketing and sales.

read more visit us profit

collected by :Jack Luxor

UBS Q2 profit beats forecasts, keeps cautious outlook quoting : "Reuters"

noreply@blogger.com (jack luxor) — Fri, 28 Jul 2017 17:52:00 +0000

Q2 revenues: 7.27 billion Swiss francs vs. estimate of 7.23 Swiss f r ancs, according to Reuters. Here are some of the key metrics:Q2 net profit: 1.174 billion Swiss francs ($1.21 billion), up 14 percent on a year earlier. UBS, Switzerland's biggest bank, posted an unexpected rise in net profit on Friday despite CEO Sergio Ermotti giving a cautious outlook and highlighting that low volatility had hurt certain sectors of the bank. 879 million Swiss francs was the estimate, according to Reuters. "We are highly concentrated of course in the FX (foreign exchange), we are one of the leaders in the FX business and volatility levels on all major currencies has been extremely low so we are suffering on that side," UBS Chief Executive, Sergio Ermotti, told CNBC on Friday.

as informed in

(Reuters) - American Airlines Group Inc (AAL.O) on Friday reported quarterly revenue and adjusted profit that beat analyst projections, helped by strong passenger demand and improving average fares. On an adjusted basis, American Airlines earned $1.92 per share, topping analysts' consensus forecast of $1.87 per share, according to Thomson Reuters I/B/E/S. A passenger arrives to check in for an American Airlines filght at O'Hare International Airport in Chicago, Illinois, U.S.October 28, 2016. For the third quarter, American said it expects to see its total revenue per available seat mile inch up between 0.5 percent and 2.5 percent. 1 U.S. airline by passenger traffic said total operating revenue grew to $11.11 billion in the second quarter through June 30, from $10.36 billion a year earlier.

read more visit us profit

collected by :Jack Luxor

"Nasdaq Stock Market" declare : Japan's Nissan posts lower Q1 profit, misses estimate as expenses bite

noreply@blogger.com (jack luxor) — Thu, 27 Jul 2017 17:11:00 +0000

That compared with an average estimate for 171.45 billion yen from six analysts polled by Thomson Reuters I/B/E/S. Nissan expects an operating profit of 685.0 billion yen in the year to March, down 7.7 percent from last year and below analyst forecasts for 733.23 billion yen. 2 automaker by car sales posted an operating profit of 153.3 billion yen ($1.38 billion) in the April-June quarter, down 12.8 percent from 175.83 billion yen a year ago. Amid fierce competition in a slowing U.S. market, Nissan has been battling for market share in part by offering aggressive discounts, that some analysts warn may sting its margins. The company has said it expects higher raw material costs and a minor negative currency impact to weigh on operating profit this year.

according to Total revenue rose 44.8% to $9.32bn from the same period in 2016, of which Facebook posted a profit of $3.89bn – up a whopping 71% from the year before. Facebook is expected to generate $36.29 billion in net digital ad revenue this year, a 35% jump from 2016, according to the research firm eMarketer. Mobile ad revenue accounted for 87% of the company's total advertising revenue of $9.16 billion in the latest quarter, up from 84% a year earlier. Facebook said about 2.01 billion people were using its service monthly as of June 30, up 17% from a year earlier. The boost came from increasing monetisation of video within the Facebook News Feed, as well as growth in the Facebook-owned Instagram.

according to

Nissan posts lower Q1 profit, misses estimate

Nissan maintained its forecast for operating profit in the year to March at 685.0 billion yen, down 7.7 percent from last year and below analyst forecasts for 733.23 billion yen. 2 automaker by car sales posted an operating profit of 153.3 billion yen ($1.38 billion) in April-June, down 12.8 percent from 175.83 billion yen a year ago. Nissan Motor Co. on Thursday posted a bigger-than-expected drop in its first-quarter operating profit as higher expenses offset a rise in global vehicle sales. That compared with an average estimate for 171.45 billion yen from six analysts polled by Thomson Reuters I/B/E/S. The company has said it expects higher raw material costs and a minor negative currency impact to weigh on operating profit this year.

read more visit us profit

collected by :Jack Luxor

"CNBC" declare : VW profit jumps as core brand pushes cost cuts, models

noreply@blogger.com (jack luxor) — Thu, 27 Jul 2017 16:41:00 +0000

First-half earnings at the core namesake brand doubled to 1.8 billion euros, VW said, citing cost cuts and higher volume sales. Volkswagen said group operating profit more than doubled in the second quarter, helped by cost cuts and higher-margin new models at its core namesake brand. Earnings before interest and tax jumped to 4.55 billion euros ($5.34 billion) from 1.90 billion a year earlier, VW said on Thursday, beating a 4.49-billion-euro consensus forecast in a Reuters poll of analysts. It also affirmed an aim for a moderate rise in full-year deliveries. The group stuck to its guidance for 2017, which sees the return on sales coming to between 6 and 7 percent, after reaching 6.7 percent in 2016, and group revenue exceeding last year's record 217 billion euros by as much as 4 percent.

As it stated in LONDON--JU.S.T EAT PLC (JE.LN) Thursday reported a 46% rise in pretax profit for the first half of 2017 on revenue that also grew, and raised its full-year guidance. It now forecasts revenue for the year to be between GBP500 million and GBP515 million, up from previous guidance of GBP480 million to GBP495 million. The board expects full year underlying ebitda to be between GBP157 million and GBP163 million. The global online food delivery firm made a pretax profit for the half year ended June 30 of 49.5 million pounds ($65 million), compared with GBP33.8 million for the comparable period, on revenue that rose to GBP246.6 million, from GBP171.6 million. Underlying earnings before interest, taxes, depreciation and amortization, the company's preferred measure which strips out exceptional and other one-off items, rose 38% in the half year to GBP73.6 million.

As it stated in

FCA's 2Q profit jumps on strong global results

"It was a strong quarter," Chief Financial Officer Richard Palmer said in a call with analysts and investors. A year ago, FCA earned 321 million euros ($352.8 million) in the three-month period on revenue of 27.89 billion euros. Driving their gains are strong sales of pickups and SUVs of all sizes. Fiat Chrysler's results came as General Motors Co. and Ford Motor Co. earlier in the week also posted strong operating results and profit margins, even as U.S. sales have slipped. In North America, revenue fell by about 8 percent to 16.08 billion euros ($18.8 billion) on 90,000 fewer vehicle shipments from the same three months a year ago.

read more visit us profit

collected by :Jack Luxor

Nintendo records quarterly profit on Switch sales success

noreply@blogger.com (jack luxor) — Wed, 26 Jul 2017 16:04:00 +0000

In the United States, Hyundai Motor's sales over January-June fell 7.4 percent, the second biggest drop after affiliate Kia Motors. BLEAK SALES IN TOP MARKETSHyundai Motor's retail sales in China, the world's biggest auto market, slumped 29 percent in the first half of 2017. Hyundai Motor facebook/" target="_blank">shares trimmed earlier gains after the earnings announcement, ending up 1.4 percent versus the wider market that was down 0.2 percent. Its operating profit came in at 1.34 trillion won and sales at 24.31 trillion won for the period. Its weak brand image has also put Hyundai at a disadvantage versus local and global rivals such as Honda Motor, Toyota Motor and General Motors, which all saw higher China sales for last month.

as declared in

Nintendo records quarterly profit on Switch sales success

Quarterly sales more than doubled to 154.1 billion yen ($1.4 billion) from 62 billion yen the previous year. Nintendo sold 1.97 million Switch machines during the quarter, for cumulative sales of 4.7 million units since March. It left unchanged its estimate of selling 10 million Switch machines in the fiscal year through March 2018. Nintendo, which makes Super Mario and Pokemon games, left unchanged its full year forecast through March 2018, for a 45 billion yen ($402 million) net profit on 750 billion yen ($6.7 billion) sales. Interest in Nintendo games on smart devices soared with the wildly popular augmented reality game, "Pokemon Go."

Its operating profit came in at 1.34 trillion won and sales at 24.31 trillion won. For the second quarter ended June, Hyundai Motor reported a net profit of 817 billion won ($729.14 million), down 51 percent from a year ago — the 14th such decline in a row. Its weak brand image has also put Hyundai at a disadvantage versus local and global rivals such as Honda Motor, Toyota Motor and General Motors, all of which reported higher China sales for last month. GM, in its earnings call on Tuesday, said it set second-quarter sales record in China, although it also referred to pricing challenges. Analysts on average had expected 1.35 trillion won.

read more visit us profit

collected by :Jack Luxor

Boeing beats 2Q profit forecasts

noreply@blogger.com (jack luxor) — Wed, 26 Jul 2017 15:34:00 +0000

Access a Zacks stock report on BA at https://www.zacks.com/ap/BA—————Keywords: Boeing, Earnings Report, Priority Earnings Boeing is reporting second-quarter net income of $1.76 billion, after suffering a loss a year earlier. —————This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Boeing expects full-year earnings in the range of $9.80 to $10 per share, with revenue of $90.5 billion to $92.5 billion. The Chicago company had net income of $2.89 per share.

as mentioned in

Coca-Cola profit beats on demand for healthier drinks

Coca-Cola, like rival PepsiCo Inc (PEP.N), has been building its non-carbonated drinks portfolio and stepping up efforts to reduce sugar in its beverages to cope with falling demand for sugary drinks. Coca-Cola said it also saw strong demand for its non-aerated drinks such as innocent juice and smoothies in Europe. Excluding items, Coca-Cola earned 59 cents per share, beating the average analysts' estimate of 57 cents, according to Thomson Reuters I/B/E/S. Coca-Cola Co (KO.N) reported a better-than-expected profit, helped by higher demand for its healthier non-carbonated beverages as well as low and no-sugar versions of its sodas, in the company's first quarter under new Chief Executive James Quincey. "Organic revenue growth in sparkling soft drinks was led by innovation in and marketing support for our low- and no-sugar options like Coca-Cola Zero Sugar," Quincey said in a statement.

Hershey's facebook/" target="_blank">shares rose marginally to $107.70 in premarket trading. Sales in North America, Hershey's largest market, rose 2.2 percent to $1.47 billion in the second quarter ended July 2. Hershey, the maker of Reese's Peanut Butter Cups and Hershey's Kisses, reported a higher-than-expected quarterly profit on Wednesday, helped by cost-cutting and on strong demand in the United States. Hershey also raised its quarterly dividend to 65.6 cents for its Class A shares and 59.6 cents for its Class B shares from 61.8 cents on Class A shares and 56.2 cents on Class B. Net sales rose 1.5 percent to $1.67 billion.

read more visit us profit

collected by :Jack Luxor

Google parent Alphabet takes profit hit from EU fine

noreply@blogger.com (jack luxor) — Tue, 25 Jul 2017 14:58:00 +0000

Skip in Skip x Embed x Share CLOSE The EU has slapped Google with an unprecedented $2.7 billion fine because they're not playing nice. Excluding certain items such as the EU fine, earnings were $8.90 a share. Profit plunged because Alphabet took a charge in the quarter for the $2.74 billion antitrust fine from European regulators. "Changes to the company's practices — left ambiguously for Google to solve, or else face another fine — may hurt revenue growth," Wieser said. This is crucial for Google, whose digital advertising business will eventually reach a point of saturation, analysts say.

according to

Virgin Money shares take a hit despite 26% profit boost

It sounded alarm bells over risky mortgage lending, mounting credit card debts and an explosion of car finance deals. Shares in Virgin Money fell more than 6 per cent today despite the challenger bank's announcement of a 26 per cent rise in profits for the first half of the year. Virgin Money said in April that it will keep an eye on increasing consumer debt levels after credit card balances jumped 8 per cent in the first quarter. Credit card balances increased to £2.8billion in the first half of the year, 13 per cent higher than the same quarter in 2016. Adjusted profit before tax of £128.6m was up 26 per cent on the same period last year, boosted by growth in the bank's main mortgages, credit card and savings businesses.

Alphabet reported a quarterly profit of $3.5 billion, in a sharp decline from a year ago, with a $2.74 billion antitrust fine in Europe biting into earnings. "I don't see Google changing its behavior, which means the EU could continue to hit them with excessive fines," Enderle said. The EU accuses Google of giving its multitude of services too much priority in search results to the detriment of other price comparison services. EU files fresh anti-trust charges against Google The European Union filed new anti-trust charges against Google on Thursday (14 July), piling pressure on the US tech giant over the alleged abuse of its market dominance. Investors will also be watching to make sure this is a one-time fine, because not even a behemoth like Google can take that kind of cash hit each quarter, the analyst said.

read more visit us profit

collected by :Jack Luxor

Domino's delivers Street-beating sales and profit

noreply@blogger.com (jack luxor) — Tue, 25 Jul 2017 14:28:00 +0000

DuPont's Electronics & Communications and Industrial Biosciences units both posted double-digit sales growth of 11 percent over the same quarter last year. (Photo: Jennifer Corbett/THE NEWS JOURNAL)Buy PhotoDuPont's sales increased, but its overall profit dropped in the second quarter of 2017, its last as an independent company. Once the merger is completed, DowDuPont will be split within 18 to 24 months to form three publicly traded, independent companies. DuPont expects to complete its $130 billion merger with The Dow Chemical Co. in August. The agriculture unit, which accounts for about half of DuPont's revenue, posted $7.4 billion in sales, up 5 percent versus the prior year.

as declared in

Domino's delivers Street-beating sales and profit

FILE PHOTO: The sign of a Domino's Pizza restaurant is seen in Paris, France, October 27, 2016. Domino's international same-store sales rose by 2.6 percent, but was below the company's expectations, Chief Executive J. Patrick Doyle said in a statement. (Reuters) - Domino's Pizza Inc (DPZ.N) reported better-than-expected quarterly revenue and profit, boosted by store openings, lower food costs and higher supply chain revenues from franchises. Domino's international outlets totaled 8,601 units, while in the United States it had 5,399 restaurants at the end of the quarter. The company's revenue rose 15 percent to $628.6 million, marking its fifth straight double-digit quarterly growth in percentage terms.

The world's second-biggest memory chip maker behind Samsung Electronics Co Ltd <005930.KS> said April-June profit was 3.1 trillion won ($2.78 billion). SK Hynix said DRAM chip shipments rose 3 percent in the second quarter from January-March while average selling prices rose 11 percent. An SK Hynix spokesman on Tuesday said there is no change in company stance regarding the Toshiba sale. "Supply constraints are expected to gradually ease in the second half," SK Hynix said of both DRAM and NAND chips. That compared with a 3 trillion won Thomson Reuters StarMine SmartEstimate from a survey of 22 analysts.

read more visit us profit

collected by :Jack Luxor

Drugmaker Lilly's second-quarter profit beats estimates

noreply@blogger.com (jack luxor) — Tue, 25 Jul 2017 13:58:00 +0000

ReutersUPDATE 1-Drugmaker Lilly's second-quarter profit beats estimates(Adds details) July 25 (Reuters) - U.S. drugmaker Eli Lilly and Co reported a higher-than-expected quarterly profit on Tuesday, helped by strong demand for its new treatments. Lilly has built a robust portfolio of newer drugs, ranging from diabetes treatment Trulicity to psoriasis addiction Taltz, as the drugmaker looks to increase revenue by an average 5 percent every year through 2020. [nPn53N1dLa] Excluding items, Lilly earned $1.11 per share, above the average analyst expectation of $1.05 per share, according to Thomson Reuters I/B/E/S. Lilly said on Tuesday resubmission of the marketing application for the drug, baricitinib, to the FDA will be delayed beyond 2017. Lilly's total revenue rose to $5.82 billion from $5.40 billion.

as informed in

India's Bharti Airtel Q1 profit slumps, but beats estimates

Analysts had expected a consolidated profit of 3.35 billion rupees, according to Thomson Reuters data. more-inBharti Airtel Ltd, India's top telecom operator, reported an almost 75 percent drop in quarterly profit as a price war sparked by an upstart carrier weighed on earnings. Reliance Jio, backed by India's richest man Mukesh Ambani, has shaken India's telecoms industry since it was launched a year ago by offering months of free services and sharply discounted plans, battering the fortunes of established rivals such as Bharti Airtel and Idea Cellular. Profit on a consolidated basis, which includes the company's Africa operations and its Indian satellite TV business among others, fell to 3.67 billion rupees ($57.01 million) in the three months to June 30, while revenue fell 14 % to 219.58 billion rupees, Bharti Airtel said in a statement on Tuesday.

Excluding non-recurring items, adjusted EPS was $1.11, beating the FactSet consensus of $1.05. Revenue rose 8% to $5.82 billion, above the FactSet consensus of $5.59 billion, as strong growth in new pharmaceutical products helped offset weakness in animal health. Year to date, Lilly facebook/" target="_blank">shares have rallied 15% while the S&P 500 SPX, +0.31% has gained 10.3%. Lilly's stock was indicated slightly lower in premarket trade, while Incyte's stock tumbled 2.6%. Eli Lilly & Co. LLY, -2.83% reported a second-quarter net profit that rose to $1.01 billion, or 95 cents a share, from $747.7 million, or 71 cents a share, in the same period a year ago.

read more visit us profit

collected by :Jack Luxor

"indiainfoline" said : Bharti Infratel Q1FY18 consolidated net profit declines 12.2% yoy: In-line with Estimates

noreply@blogger.com (jack luxor) — Mon, 24 Jul 2017 13:21:00 +0000

in crore)Q1FY18 YoY (%) Revenue 3,524 9.8 EBITDA 1,575 11.9 EBITDA Margin (%) 44.7 84 Net Profit (adjusted) 664 [12.2]***EBITDA margin change is bpsView Bharti Infra. And lastly, net profit for the quarter came in 5.7 % higher than the estimated figure of Rs. EBITDA margin for the quarter stood at 44.7%.The PAT for the quarter came in at Rs. Price 410 Last updated on 12-Jul-2017 Know MoreBharti Infratel's Q1FY18 consolidated results for the quarter were largely in-line with street estimates. 628 crore.Bharti Infratel consolidated revenue for the quarter came in at Rs.

as declared in

HUDCO reports 52% YoY rise in net profit at Rs 211 crore in Q1

Get instant notifications from Economic TimesAllowNot nowYou can switch off notifications anytime using browser settings. Never miss a great news story!

Mobile tower company Bharti Infratel today reported 12 per cent decline in consolidated net profit to Rs 664 crore for the June quarter of the current fiscal. Bharti Infratel stock closed at Rs 409.50 a unit, down marginally from its previous close on BSE. It had posted net profit of Rs 756 crore in the same period of FY2016-17, it said in a statement. "Indian telecom is moving towards a data centric business model as the demand for data is growing exponentially, with the nation decisively embracing the digital world," Bharti Infratel Chairman Akhil Gupta said. The consolidated revenue of mobile tower arm of Bharti Airtel increased by 10 per cent to Rs 3,524 crore during the April-June 2017 quarter, as against Rs 3,211 crore posted in the year-ago period.

read more visit us profit

collected by :Jack Luxor

Vijaya Bank profit rises 57%

noreply@blogger.com (jack luxor) — Sun, 23 Jul 2017 12:43:00 +0000

Get instant notifications from Economic TimesAllowNot nowYou can switch off notifications anytime using browser settings. Never miss a great news story!

as mentioned in

J&K Bank signals commencement of turn-around, posts net profit of Rs 30 Cr for Q1

GKNNInching closer to turnaround in its bottom-line J&K Bank today reported a gross operating profit of Rs 368 Cr and Net profit of Rs 30 Cr for the quarter ended June 2017. Meanwhile, the Bank reported a total business of Rs 120477 Cr with deposits of Rs 71744 and Advances ofRs 48733 Cr as on June 30, 2017. Notably, the Bank had issued a guidance for 2017-18 being the turnaround year after reporting a loss of Rs 1632 Cr during the last financial year. Notably, the bank has shown improvement in its Net NPA ratio to 4.65 pc. Be it securing a special restructuring package for our turmoil affected borrowers or our capital planning programmes to support our business growth plans, Government of J&K has always been there for us to achieve our humble yet ambitious objectives.

The public sector bank had registered a net profit of Rs 161.66 crore in the corresponding April-June quarter of 2016-17. The company had reported a net profit of Rs 118.44 crore in the corresponding quarter a year ago. Total income stood at Rs 3,598.13 crore, up 35.7 per cent, against Rs 2,652.39 crore in the year-ago period. Total income rose to Rs 3,510.11 crore for the said quarter from Rs 3,295.05 crore a year ago, the bank said in a regulatory filing. New Delhi, July 22: Vijaya Bank today reported a 57.5 per cent increase in net profit at Rs 254.69 crore for the June quarter owing to a healthy growth in retail income aided by a marginal fall in bad loan proportion.

read more visit us profit

collected by :Jack Luxor

GE beats 2Q profit forecasts despite decline

noreply@blogger.com (jack luxor) — Sun, 23 Jul 2017 12:13:00 +0000

It now expects sales of $39.3 billion to $40 billion, up from its previous forecast of $38.6 billion to $39.5 billion. Sales in Honeywell's PMT unit, which makes catalysts and adsorbents used for petroleum refining, dropped about 8 percent to $2.24 billion in the quarter. Net income attributable to Honeywell increased 5.5 percent to $1.39 billion, or $1.80 per share, above expectations of $1.78 per share. Honeywell is reviewing Loeb's demand and the company is expected to announce a decision by early fall. FILE PHOTO: A view of the corporate sign outside the Honeywell International Automation and Control Solutions manufacturing plant in Golden Valley, Minnesota, January 28, 2010.

as declared in

Visa beats profit estimates, raises earnings forecast

Total payments volume rose 38.4 percent to $1.860 trillion on a constant dollar basis. Visa Inc , the world's largest payments network operator, on Thursday reported a better-than-expected quarterly profit and raised its full-year earnings forecast, as more people made payments using its network. Total operating revenue rose 26 percent to $4.57 billion in the third quarter, edging past analysts' estimates of $4.36 billion. The company said it now expects annual adjusted earnings per share to grow about 20 percent. Visa's results in the prior-year quarter included expenses of nearly $1.9 billion related to its acquisition of Visa Europe.

Access a Zacks stock report on GE at https://www.zacks.com/ap/GE_____Keywords: General Electric, Earnings Report, Priority Earnings This Tuesday, Jan. 17, 2017, photo shows a General Electric light bulb display at a store, in Wilmington, Mass. 21, 2017 8:15 amNEW YORK (AP) — General Electric Co. (GE) on Friday reported dip in second-quarter profit and revenue on lackluster performance from its energy connections unit. General Electric Co. reports earnings, Friday, July 21, 2017. The Boston-based company reported a 53 percent drop in profit to $1.37 billion, or 13 cents per share.

read more visit us profit

collected by :Jack Luxor

American Express profit dips on higher costs, but beat estimates

noreply@blogger.com (jack luxor) — Sat, 22 Jul 2017 11:38:00 +0000

American Express Co's profit fell less than expected in the second quarter, as higher spending by card members made up for increased costs from offering rewards. Total revenue, net of interest expense, rose 1 percent to $8.3 billion in the quarter. AmEx said it spent $1.93 billion on card member rewards in the second quarter, up 9 percent from a year earlier. Analysts on average had expected a profit of $1.43 per share, according to Thomson Reuters I/B/E/S. But the drop in net income was also the result of a 21 percent jump in total expenses.

As it stated in

UPDATE 1-American Express profit dips on higher costs, but beat estimates (AXP, COST, JPM, C)

Total revenue, net of interest expense, rose 1 percent to $8.3 billion in the quarter. (Adds details)July 19 (Reuters) - American Express Co's profit fell less than expected in the second quarter, as higher spending by card members made up for increased costs from offering rewards. AmEx said it spent $1.93 billion on card member rewards in the second quarter, up 9 percent from a year earlier. But the drop in net income was also the result of a 21 percent jump in total expenses. Analysts on average had expected a profit of $1.43 per share, according to Thomson Reuters I/B/E/S.

Absent the tax adjustment, earnings would have been 75 cents a share, topping analysts expectations for a profit of 71 cents a share. The results, for the last quarter of Microsoft's fiscal year, were better than analysts expected. For the full fiscal year, Microsoft's sales totaled $89.9 billion, up 5 percent from a year earlier. Microsoft's quarterly profit more than doubled as the company's cloud-computing products continued to gain traction. The Redmond company's quarterly profit more than doubled from a year ago on growth in its cloud-computing products.

read more visit us profit

collected by :Jack Luxor

Visa's third-quarter profit beats expectations

noreply@blogger.com (jack luxor) — Sat, 22 Jul 2017 11:08:00 +0000

Payment processing giant Visa said its fiscal third-quarter profit rose sharply from a year earlier, following its purchase of Visa Europe. The high-end premium credit card has become one of the most popular credit cards on the market, and has been particularly well-liked by younger customers. Visa does not issue credit or debit cards on its own and instead has partnerships with banks to issue cards that will run on Visa's payment network. Visa is also the network used on a recent popular entrant into the credit card industry: JPMorgan Chase's Sapphire Reserve Card. Visa has been benefiting from its $23 billion purchase of Visa Europe in June 2016, which brought all operators of the Visa payment network under one company.

as declared in

Visa beats profit estimates, lifts earnings forecast

Visa forecast net revenue to rise about 20 percent in the year ending September 30, having earlier expected a 16 to 18 percent increase. Visa Europe generated $371 billion in payments volume. San Francisco-based Visa also raised its forecast for full-year earnings and revenue. Results in the prior-year quarter included expenses of nearly $1.9 billion related to Visa's purchase of Visa Europe. (Reuters) - Visa Inc (V.N), the world's largest payments network operator, on Thursday reported a better-than-expected quarterly profit and raised its annual earnings forecast, as more people across the United States and Europe used its payments network.

It now expects sales of $39.3 billion to $40 billion, up from its previous forecast of $38.6 billion to $39.5 billion. Sales in Honeywell's PMT unit, which makes catalysts and adsorbents used for petroleum refining, dropped about 8 percent to $2.24 billion in the quarter. Net income attributable to Honeywell increased 5.5 percent to $1.39 billion, or $1.80 per share, above expectations of $1.78 per share. Honeywell is reviewing Loeb's demand and the company is expected to announce a decision by early fall. FILE PHOTO: A view of the corporate sign outside the Honeywell International Automation and Control Solutions manufacturing plant in Golden Valley, Minnesota, January 28, 2010.

read more visit us profit

collected by :Jack Luxor

DCB Bank posts 38 per cent rise in net profit

noreply@blogger.com (jack luxor) — Sun, 16 Jul 2017 11:47:00 +0000

July 14 (UPI) -- JPMorgan Chase & Co. reported a massive fiscal year profit of more than $26 billion on Friday -- the largest ever posted by a U.S. bank. JPMorgan lowered its outlook for loan growth and interest income for the second half of 2017, though. Despite the Washington gridlock, JPMorgan Chase performed well, CEO Jamie Dimon said, in a period of what he termed "lower volatility and client activity." However, its profit from fixed income and equity trading fell 14 percent in the second quarter of 2017, the report said, to $4.8 billion. The institution reported $26.5 billion in profit over the last 12 months.

referring to

DCB Bank posts 38 per cent rise in net profit

The rise in net profit comes along with a rise in provisions made by the bank against loans that could go bad. MUMBAI: Private sector lender DCB Bank reported a 38% rise in net profit for the first quarter of this year amidst a slight worsening of the quality of assets held by the bank.In a filing to the stock exchanges, the bank reported a net profit of Rs 65 crore against Rs 47 crore last year. Provisions have gone up to Rs 35 crore against Rs 20.5 crore a year earlier.The net interest income or the income generated from loans forwarded by the bank rose to Rs 233 crore against Rs 177 crore last year, a 31% jump.The ratio of non-performing assets or loans for which repayment has not happened on time against total advances remained almost flat at 0.92% against 0.87% a year earlier.In a statement to the media, the bank's chief executive officer, Murali Natarajan said that the bank has almost completed its branch expansion plans and will continue to remain careful about balancing growth with asset quality.In a separate filing to the exchanges the bank also notified that its board has appointed Iqbal Ishaq Khan as an additional director and has accepted the resignation of Keki Elavia from the directorship of the bank.

MANGALURU: Karnataka Bank Ltd has posted net profit of Rs 133.85 crore in Q1 of FY '17-18, a growth rate of 10.13% compared to Rs 121.54 crore during Q1 of 2016-17. Operating profit has increased from Rs 261.92 crore to Rs 309.70 crore showing a growth rate of 18.24 %. Net NPAs stood at Rs 1,230 crore at the end of Q1 constituting 3.20% of net advances. Gross NPAs stood at Rs 1,691 crore at the end of Q1 constituting 4.34 % of gross advances. Going forward, bank will give more thrust on CASA deposits, NPA management, credit expansion, fee based income and digital banking.

read more visit us profit

collected by :Jack Luxor

Wells Fargo's profit rises along with interest rates

noreply@blogger.com (jack luxor) — Sun, 16 Jul 2017 11:17:00 +0000

In this Thursday, April 13, 2017, photo, a man uses a Wells Fargo ATM in Charlotte, N.C. Wells Fargo & Co. reports earnings, Friday, July 14, 2017. Wells Fargo stock is down slightly this year, while the Standard & Poor's 500 index has risen almost 10 percent. Wells Fargo, JPMorgan and Citigroup all disclosed their second-quarter results Friday, and said they collected more money on interest because of rising interest rates, which let the banks charge more money for lending. The Federal Reserve has raised interest rates three times since December. Like other banks, Wells Fargo's stock surged since Donald Trump was elected president in November as investors hoped for stronger economic growth and higher interest rates along with looser regulations.

as declared in

PNC Financial 2nd-quarter profit beats on higher interest income

Regional bank PNC Financial Services reported a better-than-expected quarterly profit on Friday helped by a higher interest income and fall in provision for credit losses. Net interest income rose 9.2 percent to $2.3 billion, while non-interest expenses increased 5 percent to $2.5 billion. Banks in the United States have got a much-needed boost from the Federal Reserve raising overnight interest rates. The bank said provisions for bad loans dropped 23 percent to $98 million for the reported quarter. The Fed has raised rates three times since second quarter last year, the latest increase coming in June.

When bond yields decline, it forces interest rates on loans lower, which makes it harder for banks to make money from lending. The Federal Reserve has raised interest rates three times since December, which enables banks to charge more money for lending, and Wells Fargo said its net interest income climbed 6% to $12.5 billion. Wells Fargo & Co. said Friday its profit edged up in the second quarter as the bank got a boost from rising interest rates and the planned sale of its insurance service business. Like other bank stocks, Wells Fargo facebook/" target="_blank">shares have surged since Donald Trump was elected president in November as investors hope for stronger economic growth and higher interest rates. Wells Fargo shares have risen almost 1% since the beginning of the year while the Standard & Poor's 500 index has climbed slightly more than 9%.

read more visit us profit

collected by :Jack Luxor

J.P. Morgan's profit and revenue top estimates

noreply@blogger.com (jack luxor) — Sun, 16 Jul 2017 10:47:00 +0000

Dollar revenue growth was 3.2 percent at USD 2,651 million against expectations of 2.6 percent increase and constant currency revenue growth came in at 2.7 percent against estimates of 2 percent. It raised its FY18 dollar revenue growth guidance to 7.1-9.1 percent from 6.1-8.1 percent earlier. The IT bellwether has maintained its constant currency revenue growth guidance at 6.5-8.5 percent (which was 8.3 percent in FY17 and 13.3 percent in FY16) and also retained operating margin guidance at 23-25 percent for the current financial year. Consolidated profit during the quarter fell 3.3 percent sequentially to Rs 3,483 crore and revenue declined 0.2 percent to Rs 17,078 crore. Sunil Shankar MatkarMoneycontrol NewsIt was a good start to the year by Infosys as its first quarter earnings beat analysts' expectations on all counts on Friday, with the company retaining its full year constant currency revenue growth guidance.

as mentioned in

Citigroup profit beats on smaller drop in trading revenue

Fixed-income trading revenue fell 6 percent, while equity trading revenue dropped 11 percent. (Reuters) - Citigroup Inc (C.N) reported a quarterly profit that beat analysts' estimates as trading revenue held up better than the company's forecast and loans grew. Wells Fargo & Co (WFC.N), the third-biggest U.S. bank by assets, also reported on Friday. Citigroup's total revenue rose 2 percent to $17.90 billion and beat estimates of $17.37 billion. The fourth-biggest U.S. bank by assets said on Friday net income fell 3.2 percent to $3.87 billion in the second quarter ended June 30.

NEW DELHI: Infosys, second largest domestic IT firm, on Friday reported a 3.3 per cent sequential drop in net profit at Rs 3,483 crore for June quarter. The numbers though beat Rs 3,429 crore profit estimate projected by analysts in an ETNow poll.The IT major had reported Rs 3,603 crore profit for the corresponding quarter last year.Revenue for the quarter dropped 0.2 per cent to Rs 17,078 crore compared with Rs 17,120 crore in the corresponding quarter of last year. This was against ET Now poll estimate of Rs 16,987.90 crore.The company maintained its constant currency revenue growth guidance of 6.5 to 8.5 per cent. Revenue growth in constant currency terms came in at 2.7 per cent for the quarter.Ebit for the quarter at Rs 4,111 crore beat ET NOW poll estimate of Rs 4,009 crore. The company added 6 clients in $25 million category."Our persistent focus on execution in Q1 is reflected in broad-based performance on multiple fronts– revenue growth, resilient margins despite multiple headwinds, healthy cash generation and overall business results.

read more visit us profit

collected by :Jack Luxor

19 AGs sue DeVos for delaying for-profit college rules quoting : "ABC News"

noreply@blogger.com (jack luxor) — Thu, 06 Jul 2017 16:16:00 +0000

Already have an account?

as mentioned in

Massachusetts Attorney General Maura Healey is leading the lawsuit and says DeVos' decision is "a betrayal of her office's responsibility and a violation of federal law." The lawsuit was filed Thursday in federal court in Washington and demands implementation of borrower defense to repayment rules. On June 14, DeVos announced the rules would be delayed and rewritten, saying they created "a muddled process that's unfair to students and schools." Democratic attorneys general in 18 states and the District of Columbia are suing Education Secretary Betsy DeVos over her decision to suspend rules meant to protect students from abuses by for-profit colleges. The rules aim to make schools financially responsible for fraud and forbid them from forcing students to resolve complaints outside court.

read more visit us profit

collected by :Jack Luxor

Santander Sees First-Half Profit Rising as Bank Sells Stock quoting : "Markets Insider"

noreply@blogger.com (jack luxor) — Wed, 05 Jul 2017 13:19:00 +0000

as mentioned in

Grupo Santander acquired Banco Popular Español, S.A. and its subsidiaries on June 7, 2017 and has consolidated Banco Popular in the accounts of Grupo Santander since such date. The company noted that the estimate is before considering the contribution of Banco Popular Espanol, S.A. Thus, as from such date, the results of Banco Popular have contributed to the results of Grupo Santander. (RTTNews) - Banco Santander S.A. (BNC.L, BSBR, SAN), a Spanish retail and commercial bank, said Tuesday that it expects a nearly 24 percent increase in its net profit for the six-month period ended June 30, 2017. The bank said it expects net profit attributable to the parent of about 3.6 billion euros for the half-year period, representing an increase of nearly 24 percent over net profit attributable to the parent recorded during the six-month period ended June 30, 2016.

read more visit us profit

collected by :Jack Luxor

Monte Paschi eyes profit of over €1.2 billion by 2021 quoting : "Business Insider"

noreply@blogger.com (jack luxor) — Wed, 05 Jul 2017 12:49:00 +0000

In a statement, Monte dei Paschi said its 2017-2021 plan sees a return on equity of more than 10% in 2021. Italy's Monte dei Paschi di Siena said it expected to report a net profit of more than €1.2 billion in 2021 as part of its restructuring plan approved by the European Commission. At the same time Monte dei Paschi has earmarked €1.5 billion to compensate retail junior bondholders who are the victims of mis-selling, it added. Burdened by bad loans and a mismanagement scandal, Monte dei Paschi has been at the forefront of Italy's slow-moving banking crisis. "I am confident state money will be recouped, perhaps at a premium," finance minister Pier Carlo Padoan said yesterday, referring to Monte dei Paschi.

as informed in

Morelli said 5.5 billion euros in deposits were recovered in the first quarter, adding "liquidity is not an issue any more." Last year it reported a net loss of 3.24 billion euros. MILAN (Reuters) - Italian bank Monte dei Paschi di Siena set out plans to get out of the "emergency room" and return to profit, clearing the way for a state bailout that should remove the biggest threat to the country's financial stability. Burdened by bad loans and a mismanagement scandal, Monte dei Paschi has been for years at the forefront of Italy's slow-brewing banking crisis. The world's oldest bank said on Wednesday it expected to post a net profit of more than 1.2 billion euros ($1.4 billion) in 2021 as part of a restructuring plan approved by European authorities.

read more visit us profit

collected by :Jack Luxor

Citi India profit rises 12% in FY 17 quoting : "Business Line"

noreply@blogger.com (jack luxor) — Tue, 04 Jul 2017 12:10:00 +0000

Mumbai: Citibank's net profit in India increased 12% to Rs 3,626 crore in the fiscal year ended March 2017 from Rs 3,233 crore in the year ended March 2016 driven by a 30 basis points improvement in net interest margins (NIMs) and a 13% growth in loan disbursements in India and abroad. Low cost current and savings account deposits increased to 58.2% of total deposits in fiscal 2017 from 49.7%.Citibank's capital adequacy also improved to 17.6% from 15.8% in fiscal year 2016. One basis point is 0.01 percentage point Net interest margin or the yield a bank earns on loans and that it pays on deposits rose to 5.4% in fiscal 2017 from 5.1% in fiscal 2016. Citi in India is well placed and committed to supporting our clients' investments and growth," chief financial officer Niraj Parekh said in the release.The bank's net NPAs remained unchanged at 0.50%. It was unclear as to why the bank's CASA as well as capital adequacy had improved.

referring to

"Citibank India serves 2.5 million retail customers with 1.2 million bank accounts and 2.4 million cards nationally. For Citi India, in aggregate, total assets, including credit extended to Indian corporate clients from offshore Citi entities, stood at Rs 2,02,855 crore. Citi India today reported 12 per cent growth in its net profit at Rs 3,626 crore for the 2016-17 fiscal on account of increase in loan book size. On the numbers, Citi India Chief Finance Officer Niraj Parekh said, "Our results are a consequence of our execution focus, judicious expense controls and sound risk management. It had earned a profit of Rs 3,233 crore in 2015-16.

read more visit us profit

collected by :Jack Luxor

How Warren Buffett bagged a $12 billion profit on bank deal

noreply@blogger.com (jack luxor) — Sun, 02 Jul 2017 08:53:00 +0000

Berkshire said Friday it would use the $5 billion in preferred stock it owned to fund the common stock purchase. Berkshire owned about 11 million common facebook/" target="_blank">shares of Goldman as of March 31, according to recent filings. With Bank of America's stock BAC, -0.25% closing Friday down 0.2% at $24.26, 700 million shares would be worth $16.98 billion, a 240% gain. A 700-million-share stake would represent 7% of Bank of America's common shares outstanding. That would make Berkshire the largest shareholder, according to FactSet, just above the 652.4 million shares, or 6.6% stake, owned by The Vanguard Group.

as mentioned in

How Warren Buffett bagged a $12 billion profit on bank deal

That allowed Buffett to turn a farsighted investment he made in 2011, when BofA was reeling from the aftermath of the financial crisis, into a $12 billion paper profit. The warrants paid Berkshire about $300 million annually, and the common stock will generate an estimated $336 million, a 12 percent boost in dividend income. Similarly, he made a $5 billion loan to Goldman Sachs (GS), which garnered him $1.7 billion in profit. At the time, Buffett bought $5 billion worth of the company's warrants, which gave him the right to buy a certain amount of its common stock in the future. But cleaning up the lender's ensuing toxic mortgage mess cost Bank of America more than $50 billion.

And to show there was a bit of risk involved, BofA facebook/" target="_blank">shares dipped to below $6 a shares later that year. Fast-forward to Thursday, when BofA shares closed at $24.32 — more than three times the value of Buffett's warrants. The shares came with warrants for 700 million shares of the company at about $7.14 a share, about where the stock was trading at that time. Warren Buffett's Berkshire Hathaway is preparing to pocket a $12 billion gain for bailing out Bank of America — more than doubling his initial investment in 2011. Buffett, seeing a deal, swooped in and brokered a deal with the bank: $5 billion in preferred shares that paid a 6 percent dividend — or $300 million a year.

read more visit us profit

collected by :Jack Luxor