Tag: profit

Investors Watch US Companies’ Record Profit Margins as Costs Rise Further

NEW YORK—U.S. companies have retained strong profit margins through the pandemic because they have cut costs and passed along high prices to customers. The question is: How long can this go on? With inflation still strong, the ability for companies to keep margins at record levels is being closely watched by some investors and strategists…


FedEx Labor Shortfall Hits Quarterly Profit, Earnings Forecast

U.S. delivery firm FedEx Corp. posted a 7 percent drop in quarterly profit and cut its full-year forecast on Tuesday, after labor shortages crimped earnings, slowed packages and drove up costs ahead of the all-important holiday peak season. Shares in the Memphis, Tennessee-based company fell 4.6 percent to $240.50 in extended trading after FedEx said staffing…


Profit at Bid Target Morrisons Falls 37 Percent on COVID-19 Hit

LONDON—British supermarket group Morrisons, at the centre of a bid battle between two U.S. private equity firms, on Thursday reported a 37.1 percent fall in first-half profit, hurt by COVID-19 costs and lost profit in cafes, fuel and food-to-go areas. The group, which trails market leader Tesco, Sainsbury’s and Asda in annual revenue, maintained its…


Sales, Profit Soar Again at Target; a $100 Billion Year Is in Sight

By Nicole Norfleet From Star Tribune MINNEAPOLIS—Target Corp. is still growing faster than it did before the pandemic, and executives on Wednesday signaled they expect no letup in the months ahead. Sales grew 8.9 percent in May, June, and July, which is the second quarter of Target’s fiscal year, on top of record growth of…


Vaccine-Maker BioNTech Sees 2nd-Quarter Profits Soar

German pharmaceutical giant BioNTech, which jointly with Pfizer developed the first COVID-19 vaccine to be granted emergency use authorization by U.S. regulators, saw its profits surge in the second quarter of 2021. In an earnings report released on Monday, the Mainz-based company said that it made a net profit of nearly $3.3 billion between April…


Taiwan Chipmaker TSMC Says Profit up 11.2 Percent as Demand Rises

TAIPEI, Taiwan—TSMC, the biggest contract manufacturer of processor chips for Apple Inc. and other global brands, said Thursday its latest quarterly profit rose 11.2 percent over a year earlier to $4.8 billion as demand for smartphones and consumer electronics increased. Sales in the three months ending June 30 rose 19.8 percent to $13.3 billion, said…


Tesla Posts $438 Million 1Q Profit on Strong Electric Vehicle Sales

DETROIT—Charged up by strong sales of its electric cars and SUVs, Tesla on Monday posted its seventh-straight profitable quarter. The company made $438 million in the three-month period that ended March 31, as sales more than doubled the same period last year to nearly 185,000 vehicles. Tesla said adjusted net income, excluding stock-based compensation, passed…


GM 2020 Profit Drops, but It Makes $6.43 Billion Despite Pandemic

DETROIT—General Motors’ profit fell 4.5 percent in 2020, but a strong second half more than offset the effects of pandemic-related factory closures and a costly airbag recall. The Detroit automaker said Wednesday it made $6.43 billion as demand for its vehicles surged late in a year dominated by coronavirus upheaval. In the fourth quarter, the…


GM 2020 Profit Drops, but Makes $6.43 Billion Despite Pandemic

DETROIT—General Motors’ profit fell 4.5 percent in 2020, but a strong second half more than offset the effects of pandemic-related factory closures and a costly airbag recall. The Detroit automaker stated on Feb. 10 that it made $6.43 billion as demand for its vehicles surged late in a year dominated by coronavirus upheaval. In the…