TAIPEI, Taiwan—Taiwan Semiconductor Manufacturing Co., the biggest contract manufacturer of processor chips for smartphones and other products, said Thursday its quarterly profit rose 78 percent over a year earlier but forecast weak demand this year. Revenue for the final quarter of 2022 rose 42.8 percent over a year earlier to 625.5 billion New Taiwan dollars…
Ryanair Hikes Full Year Profit Forecast After Strong Christmas Season
DUBLIN—Ryanair hiked its forecast for after-tax profit by up to 325 million euros on Wednesday, citing recent pent-up travel demand while warning that COVID-19 and the war in Ukraine could still affect the outcome. Europe’s largest airline by passenger numbers saw profit for the year to end-March at between 1.325 billion euros and 1.425 billion…
Porsche Sees Strong 2023 as 9-Month Profits Soar
BERLIN—Porsche reported a 40.6 percent leap in operating profit to more than 5 billion euros ($5 billion) in the first nine months of 2022 and predicted a strong 2023 as its ability to raise prices protected it from the costs of supply chain snags. Still, the carmaker did not raise its annual margin outlook from…
Mercedes-Benz Lifts Profit Forecast as Luxury Cars Boom
BERLIN—Mercedes-Benz raised its full-year profit forecast on Wednesday as strong demand for luxury cars and cost savings offset the supply chain bottlenecks that have hampered industry output this year. The German automaker said it now expected group earnings to rise at least 15 percent this year, compared with a previous forecast of 5 percent–15 percent…
Insurer Travelers Profit Falls on Hurricane Costs, Lower Investment Returns
Property and casualty insurer Travelers Companies Inc. reported a 20 percent fall in quarterly profit on Wednesday, hurt by hurricane-related claims and lower returns on its investments. The company’s core income fell to $526 million, or $2.20 per share, in the third quarter ended Sept. 30, from $655 million, or $2.60 per share, a year…
JPMorgan Profit Beats Estimates on Gains From Higher Interest Rates
JPMorgan Chase & Co. reported a smaller-than-feared drop in third-quarter profit on Friday, as a rise in interest income cushioned a blow from higher loan loss provisions and a slump in dealmaking due to a worsening economic outlook. Shares of the largest U.S. bank rose nearly 4 percent after the results, which are being closely…
Chinese Domestic Stocks Disclose Interim Results, Half Record Significant Drop in Profit
As of Aug. 31, Chinese shares listed on domestic stock exchanges have disclosed their interim operating results, with over half of them reporting a huge loss in profits. There are 4,888 Chinese companies listed on China’s domestic stock exchanges in Shenzhen, Shanghai, and Beijing; 4,887 companies have published their performance results for the first half…
Walmart Sees Smaller Profit Drop as Discounts Draw Inflation-Hit Shoppers
Walmart Inc. nudged up its annual profit forecast on Tuesday, partly reversing a hefty cut less than a month ago, as discounts to clear excess merchandise and lower fuel prices helped it beat expectations for quarterly sales. The stock, which has fallen over 8 percent this year, rose 3.7 percent in premarket trading. Shares of…
BioNTech Reports Strong First Half, Expects Demand to Grow
BERLIN—BioNTech, which teamed with Pfizer to develop a COVID-19 vaccine, has reported higher revenue and net profit in the first half of the year and expects demand to grow as it releases updated vaccines to target new omicron strains. The German pharmaceutical company said Monday that revenue hit about 9.57 billion euros ($9.76 billion) in…
McDonald’s Posts Lower Q2 Revenue, Charges Weigh Down Profit
McDonald’s revenue fell short of expectations in the second quarter as coronavirus restrictions shuttered stores in China and higher prices took a toll on U.S. demand. The Chicago burger giant said its revenue fell 3 percent to $5.72 billion in the April–June period. That was short of Wall Street’s forecast of $5.8 billion, according to…
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