Earnings

February 06, 2020 - 1:17 am

Nokia reports higher profit, boosts 5G investments

HELSINKI (AP) — Finnish telecom equipment maker Nokia Corp. has reported a rise in fourth-quarter earnings mainly due to cost savings and pledged to boost investments in next-generation 5G networks, of which it is one of the world's main suppliers. Net profit during the October-December period rose...
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A visitor stands by the logo of Toyota at its showroom Thursday, Jan. 30, 2020, in Tokyo. German automaker Volkswagen has kept its lead as the world's largest automaker as Japanese rival Toyota sold fewer vehicles last year. Toyota Motor Corp. said Thursday it sold 10.74 million vehicles around the world in 2019, trailing Volkswagen at 10.97 million vehicles. (AP Photo/Eugene Hoshiko)
February 05, 2020 - 10:17 pm

Toyota raises annual forecast on cost cuts, healthy sales

TOKYO (AP) — Japan's top automaker Toyota raised its annual forecast Thursday after cost cuts and healthy sales quadrupled quarterly profits from the previous year. As with other businesses that have operations in China, the threat of the virus outbreak remains. Toyota Motor Corp. has halted...
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FILE- This May 1, 2018, file photo shows Merck corporate headquarters in Kenilworth, N.J. Merck is posting a 29% jump in fourth-quarter profit and it's spinning off its women's health division and other operations that churn out $6.5 billion in annual revenues. The drugmaker on Wednesday, Feb. 5, 2020 reported net income of $2.36 billion, up from $1.83 billion, a year earlier. (AP Photo/Seth Wenig, File)
February 05, 2020 - 8:41 am

Merck to spin off assets with $6.5B in sales; 4Q profit up

Drugmaker Merck beat Wall Street's fourth-quarter profit expectations, but investors weren't as happy with the biggest move Merck's made in years: deciding to spin off its women's health division and other operations with $6.5 billion in annual revenues. The maker of cancer blockbuster Keytruda...
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February 05, 2020 - 5:01 am

GM turns full-year profit despite strike, slumping sales

DETROIT (AP) — Despite a 40-day strike by factory workers and slumping sales in the U.S. and China, General Motors still made money last year. The company posted a $6.58 billion profit for the year, but that was down almost 17% from 2018. GM couldn't avoid red ink the fourth quarter, though. The...
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February 04, 2020 - 11:52 pm

Siemens Q1 orders, earnings lower as autos, energy weaker

BERLIN (AP) — Orders and earnings at industrial conglomerate Siemens were lower than a year earlier in the October-December period, the company said Wednesday, weighed down by weaker performances in the auto and energy sectors. Siemens said orders for the period, its fiscal first quarter, were down...
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Stock trader Frank Masiello works at the New York Stock Exchange, Tuesday, Feb. 4, 2020. Stocks are opening broadly higher on Wall Street, following gains overseas. (AP Photo/Mark Lennihan)
February 04, 2020 - 7:31 pm

Asian shares up on China efforts despite virus worries

TOKYO (AP) — Asian shares rose Wednesday on optimism that China's latest actions may help curtail some of the expected economic damage from the virus outbreak. Japan's benchmark Nikkei 225 gained 1.1% to 23,330.11 in morning trading. Australia's S&P/ASX 200 added 0.3% to 6,967.20. South Korea's...
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February 04, 2020 - 1:34 pm

Disney Plus has 26.5M subscribers; costs weigh on profit

NEW YORK (AP) — The Walt Disney Co. said Tuesday that profit fell 23% in its latest quarter to $2.13 billion as it absorbed losses — and a big revenue boost — from its new streaming service, Disney Plus. The company says it has 26.5 million Disney Plus subscribers as of Dec. 28, the end of its...
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February 04, 2020 - 3:45 am

Ferrari reports 11% profit drop last year but raises outlook

MILAN (AP) — Italian luxury sports car maker Ferrari on Tuesday reported that its profits last year sank 11% as it shifted its geographical footprint, but raised its forecasts for 2020. Ferrari said net profit fell to 699 million euros ($772 million) from 787 million euros the previous year...
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In this July 19, 2019, file, photo, people walk out from the headquarters of Sony Corp., in Tokyo. Japanese electronics and entertainment company Sony reports October-December profit dipped to about half of what it was the previous year as its video-game, networking and film businesses stumbled. (AP Photo/Koji Sasahara, File)
February 04, 2020 - 1:51 am

Sony warns of China virus impact on raised forecast for year

TOKYO (AP) — Japanese electronics and entertainment company Sony Corp. warned Tuesday that forecasts and results were at risk because of the new virus in China, as it reported a drop in fiscal third quarter on stumbling video game, networking and film businesses. Tokyo-based Sony, which makes...
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February 03, 2020 - 1:24 pm

Google parent Alphabet posts mixed 4Q results; profit soars

Google parent company Alphabet posted mixed fourth-quarter results on Monday, falling short on Wall Street's expectations for revenue but beating on profit. The Mountain View, California-based company earned $10.67 billion, or $15.35 per share, in the final three months of 2019. That's up from $8...
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