Automotive Profitability

Apple’s Quarterly Profit Down Because of Tax Payment in Europe

Sales for the iPhone maker were up 6 percent to to $94.93 billion. But a $14.4 billion tax bill cut profits that would have topped expectations.

Tech - The New York Times - 5 days ago

Nomura profits surge as chief takes pay cut over trading scandal

Japan’s biggest investment bank and brokerage beats expectations but is still dogged by controversy

Business - Financial Times - 5 days ago

Profiteers Are Exploiting US Election Conspiracies and Hate to Make Millions

Unscrupulous online operators are spreading toxic lies to push bitcoin scams and sell MAGA shirts to Facebook users in the run-up to the US presidential election.

Tech - Wired - 5 days ago

Chevron’s stock climbs after a triple beat of profit, revenue and production

Chevron’s stock rallies after earnings and production beat expectations, and a record amount of cash was returned to shareholders.

Business - MarketWatch - 5 days ago

Exxon and Chevron suffer profit falls on lower oil prices

Cheaper commodities and weaker refining margins hit earnings after bumper performances in 2022 and 2023

Business - Financial Times - 5 days ago

Asylum housing provider Clearsprings’ profits jump on high demand

Bumper profits risk fuelling government concerns over large amounts paid to private companies to handle politically sensitive issue

World - Financial Times - 5 days ago

Foreclosures in China Soar, Threatening to Choke Off Bank Profits

When the housing market was flying high, mortgage defaults were almost nonexistent. But now the legal system is struggling to keep up with evictions.

Business - The New York Times - 2 days ago

Ryanair profits plunge amid lower fares and Boeing delays

Problems with delivery of 737 aircraft left airline ‘over-crewed and over-costed’, says CEO Michael O’Leary. Business live – latest updates Ryanair’s profits have dropped by nearly a fifth, as ...

World - The Guardian - 2 days ago

Why Constellation Energy’s stock is seeing a record selloff despite profit beat

Shares of Constellation Energy Corp. were in danger of a record selloff on Monday and were headed for their lowest prices since before the nuclear-power company signed a 20-year power-purchasing ...

Business - MarketWatch - 2 days ago

ADM Discloses More Accounting Issues, Cuts Profit Outlook

The agriculture company disclosed more accounting problems and will amend some past financial results while slashing its profit forecast for the year.

Business - The Wall Street Journal - Yesterday

Nintendo profit plunges 69% as it cuts forecast for sales of ageing Switch console

Investors are waiting for news surrounding a successor to the Switch which they hope will re-energize Nintendo's gaming business.

Business - CNBC - Yesterday

Nintendo reports lower profits as demand drops for its aging Switch console

Nintendo, the Japanese video game maker behind the Super Mario franchise, says its profit fell 60% in the first half of the fiscal year, as demand waned for its Switch console, now in its eighth ...

Entertainment - ABC News - Yesterday

Nintendo cuts profit guidance on reduced Switch sales forecast

Nintendo on Tuesday trimmed its sales and profit guidance for the March-ending fiscal year, citing reduced demand for the Nintendo Switch.

Business - MarketWatch - Yesterday

Apple warns future products may never be as profitable as iPhone

Analysts say artificial intelligence and virtual reality headsets might have lower margins than smartphones and App Store

Business - Financial Times - Yesterday

Labour hedge fund donor’s profits drop 76% after restructure

Quadrature made largest single donation to party after UK election called in May

Business - Financial Times - Yesterday

OpenAI Speaks to California Attorney General About Becoming For-Profit Company

A new report says CEO Sam Altman’s efforts to shed its nonprofit AI research lab status are moving forward.

Business - Inc. - Yesterday

Commerzbank Raises Guidance After Net Profit Beats Market Views

Commerzbank raised its full-year outlook after net profit came in ahead of analysts’ expectations.

Business - The Wall Street Journal - 12 hours ago

Toyota Motor Cuts Sales Forecast After Quarterly Profit Halves

The Japanese auto giant cut its annual forecast for group vehicle sales after its second-quarter profit more than halved due partly to weaker sales globally.