Maersk raises profit outlook on strong market
Danish shipping group AP Moller-Maersk said on Monday (Oct 21) it had raised its full-year forecasts on the back of strong third quarter results, robust demand and the continuing…
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profit
AmEx profit beats estimate on robust customer spending
American Express reported third-quarter profit above Wall Street estimates on Friday (Oct 18), as higher spending on its cards offset a hit from bigger provisions for credit losses. The…
Blackstone tops profit estimate as its assets hit record, dealmaking picks up
BLACKSTONE beat Wall Street’s expectations on its key quarterly earnings metric on Thursday (Oct 17), as the world’s largest alternative investment firm’s assets under management (AUM) hit…
TSMC’s Q3 profit handily beats forecasts on AI boom
TAIWAN Semiconductor Manufacturing Company (TSMC), the dominant producer of advanced chips used in artificial intelligence (AI) applications, reported on Thursday (Oct 17) a…
China Life says profit to jump up to 185% on market rally
CHINA Life Insurance said profit for the first nine months is expected to increase as much as 185 per cent, buoyed by investment returns. The country’s largest life insurer forecasts that…
Morgan Stanley’s profit jumps on recovery in dealmaking
MORGAN Stanley’s profit rose in the third quarter, fuelled by a rebound in dealmaking that also helped its rivals. The investment bank reported a profit of US$3.19 billion on Wednesday…
Morgan Stanley profit exceeds forecasts on dealmaking surge; shares jump to record
MORGAN Stanley’s profit surpassed estimates on a bumper third quarter for investment banking that had also buoyed rivals, sending its stock to a record. A revival in corporate debt…
Goldman Sachs profit jumps 45% as dealmaking activity rebounds
GOLDMAN Sachs’ profit has jumped 45 per cent in the third quarter, as the investment bank benefited from a rebound in dealmaking. It joined JPMorgan Chase, which also gained from an…
India’s Reliance reports drop in Q2 profit on weaker fuel margins
INDIA’S Reliance Industries reported a drop in second-quarter profit on Monday, hurt by weak fuel refining margins and lower demand for petrochemicals. The Mukesh Ambani-led conglomerate…
TSMC third-quarter profit seen jumping 40% on strong AI chip demand
TAIWAN Semiconductor Manufacturing Company (TSMC), the main producer of advanced chips used in artificial intelligence (AI) applications, is expected to report a 40 per cent leap in…
Wells Fargo’s profit falls on lower interest income
WELLS Fargo’s profit fell in the third quarter as the bank’s interest income was squeezed by subdued loan demand and higher payments to depositors. The fourth-largest US lender reported…
JPMorgan profit drops as it sets aside bigger provisions, but interest income climbs
JPMORGAN Chase’s third-quarter profit dropped as it set aside more money to cover potential loan defaults, while rising interest payments and investment banking revenue lifted its shares…
Delta forecasts record Q4 profit on improved pricing, strong holiday bookings
DELTA Airlines said on Thursday (Oct 10) that the current quarter has shaped up to be one of the most profitable fourth quarters in its history, with improved pricing power and strong…
Uniqlo owner Fast Retailing posts 31% rise in full-year profit, beats estimates
JAPAN’S Fast Retailing, owner of clothing brand Uniqlo, booked its third consecutive year of record earnings on Thursday (Oct 10), boosted by widened profit margins in its international…
Battery maker LG Energy profit declines as global EV sales slump
THE global slowdown in electric vehicle (EV) sales has hit LG Energy Solution, with the Korean battery maker’s third-quarter profit falling almost 40 per cent. Operating profit for three…
Samsung apologises for disappointing profit as it struggles in AI chips
SAMSUNG Electronics estimated on Tuesday (Oct 8) that its third-quarter operating profit jumped nearly four-fold but missed analysts’ estimates, prompting a rare apology from the tech…
Samsung’s profit recovery seen weakening in Q3
SAMSUNG Electronics is expected to flag more than a four-fold jump in quarterly profit on Tuesday (Oct 8) on improving demand for chips, but the pace of its recovery is weakening, as it is…
Aston Martin plunges as supply woes prompt profit warning
SHARES of Aston Martin Lagonda Global plunged after the luxury sports-car maker lowered its guidance for the year, blaming supply chain disruption and weak demand in China. The shares…
Volkswagen’s second profit warning exposes a carmaker in decline
VOLKSWAGEN’s (VW) second profit warning in three months makes one thing clear: Europe’s biggest automaker is in decline. The German manufacturer on Friday (Sep 27) slashed expectations for…
Commerzbank to begin talks with UniCredit as it woos investors with profit goals
Commerzbank will hold a first round of talks with UniCredit on Friday (Sep 27) as the Italian lender presses for a possible tie-up, the German bank’s designated CEO, Bettina Orlopp, said…
Higher sales, occupancy to improve profit trajectory of Max Healthcare
Shares of healthcare services major Max Healthcare Institute gained over 23 per cent since the start of this month and the stock crossed the Rs 1 lakh crore mark on Tuesday. On Wednesday,…
Opinion: Silicon Valley is maximizing profit at everyone's expense. It doesn't have to be this way
A public battle has broken out among the titans of Silicon Valley. One side, led by Elon Musk, PayPal co-founder Peter Thiel and venture capitalists Marc Andreessen and Ben Horowitz, is…