With the price of chicken soaring, the third-largest poultry producer in the United States is being bought for $4.53 billion. Cargill and Continental Grain have formed a joint venture to acquire Sanderson Farms, paying $203 per share in cash for a company that last year processed more than 4.8 billion pounds of meat. The companies…
Huawei Revenue Sinks as Smartphones Hurt by US Sanctions
BEIJING—Chinese tech giant Huawei’s revenue fell 29.4 percent from a year earlier in the first half of 2021 as smartphones sales tumbled under U.S. sanctions imposed in a fight with Beijing over technology and security. Revenue declined to 320.4 billion yuan ($49.6 billion), according to figures released Friday, from 454 billion yuan ($70.2 billion) reported…
Spotify Quarterly Revenue Beats on Paid Users, Ad Rebound
STOCKHOLM—Spotify Technology SA beat Wall Street estimates for second-quarter revenue on Wednesday, as the music streaming company reported a 20 percent jump in paid subscribers for its premium service driven by demand in Europe and North America. While Europe and North America accounted for more than half of its monthly active users (MAUs), the pandemic…
American Airlines Beats Second-Quarter Revenue Estimates as Travel Recovers
American Airlines Group beat Wall Street estimates for second-quarter revenue on the back of a recovery in demand as leisure travel rebounds from pandemic lows. The airline reported positive cash flow in the second quarter for the first time since the COVID-19 pandemic began, reversing a trend of cash burn of about $100 million a…
Increase Revenue Through Subscription Services
When one thinks of subscription services, the first thought that comes to mind is newspapers or magazines. While periodicals may have established the subscription model over a century ago, more and more businesses are successfully adopting it. From razor blades to socks, the subscription service model is more popular than ever. If your business is…
American Airlines Expects First-Quarter Revenue to Plunge 62% vs 2019
American Airlines said on Tuesday it expects its first-quarter revenue to plunge about 62 percent compared with the same period in 2019, and to post a loss of about $2.7 billion to $2.8 billion, excluding the gains from a payroll support program. The company had previously forecast a decline of between 60 percent and 65…
Orange County City Looks to Recoup Lost Revenue Through Cannabis Sales
Costa Mesa is moving forward with its cannabis retail plans as it tries to offset revenue lost from the ongoing COVID-19 pandemic. During a Feb. 23 special study session, city council will discuss a staffing plan for implementing Costa Mesa’s retail cannabis tax. The move comes after voters last November passed a ballot measure that will allow the city to…
Pfizer Forecasts Roughly $15 Billion in Revenue for 2021 From COVID-19 Vaccine
Pfizer Inc. said they expect total revenue in sales of CCP virus vaccines in 2021 to generate roughly $15 billion.
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