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Governor Phil Murphy Sees Huge Profit Margin in High Energy Prices for State Finances
TRENTON, NJ – New Jersey’s government bank accounts are about to see a huge increase in tax revenue collected from anyone who pays an electric bill, thanks to a 20% price hike…
Tech investor Prosus flags sharp drop in full-year profit
AMSTERDAM (Reuters) – Technology investor Prosus on Wednesday said its profit dropped significantly last year due to impairments and lower contributions from its biggest holding, Chinese software and gaming giant Tencent. Prosus…
Exclusive-VTB profit seen at record of 400 billion roubles in 2023 – CEO Kostin
MOSCOW (Reuters) – Russian state-owned lender VTB will see profit of “not less” than 400 billion roubles ($4.9 billion) in 2023 after a bumper first five months of the year and a…
Brazil’s PagSeguro posts $74 million quarterly profit, beats forecast
SAO PAULO (Reuters) – Brazilian financial technology firm PagSeguro Digital on Thursday posted a better-than-expected 6% increase in its first-quarter profit, which the company said was boosted by payment processing revenue. The…
Bank of Montreal quarterly profit rises on higher interest income
(Reuters) – Bank of Montreal’s second-quarter profit jumped as higher interest rates shored up the lender’s net interest income, the Canadian bank said on Wednesday. Net income excluding one-off items rose to…
Ross Stores lifts annual profit forecast on strong demand, easing freight costs
By Ananya Mariam Rajesh (Reuters) – Ross Stores on Thursday raised its annual profit forecast after upbeat quarterly results, buoyed by budget-conscious customers increasingly shopping at the off-price retailer and easing freight…
Bath & Body Works beats quarterly profit estimates on higher prices
(Reuters) – Bath & Body Works Inc beat first-quarter profit expectations on Thursday, as higher product prices outweighed cost pressures and a slowdown in demand, sending its shares up over 9% in…
Russia’s Sberbank reports record Q1 profit, raises forecasts
By Elena Fabrichnaya and Alexander Marrow MOSCOW (Reuters) -Russia’s largest lender Sberbank on Thursday reported record first-quarter net profit of 357.2 billion roubles ($4.6 billion) and raised forecasts for several indicators, keeping…
Foxconn shares fall after Apple supplier’s Q1 profit plunges
TAIPEI (Reuters) – Shares of Foxconn fell more than 2% on Friday after the Apple Inc supplier’s quarterly profit missed forecasts and it cited a big writedown from its stake in Japan’s…
Deutsche Telekom slightly raises 2023 profit outlook
BERLIN (Reuters) – Deutsche Telekom slightly raised its full-year operating profit target on Thursday after reporting a small bump in first-quarter revenue and profit that was in line with expectations. The group…
Shares of data analytics firm Palantir surge 22% on profit forecast
(Reuters) – Palantir Technologies’ stock surged 22% on Tuesday, putting it on track for its biggest one-day gain in more than two years, after the data analytics firm said it expected to…
Duke Energy misses profit estimates as warm weather weighs on power usage
(Reuters) – Duke Energy Corp on Tuesday missed Wall Street estimates for first-quarter profit, as the gas and electric utilities firm was hit by unfavorable weather, higher interest expenses, and lower volumes.…
VW’s Skoda Auto reports 61% rise in Q1 operating profit
PRAGUE (Reuters) – Czech carmaker Skoda Auto, part of the Volkswagen group, lifted operating profit by 60.8% year-on-year to 542 million euros ($598 million) in the first quarter, while revenue rose by…
Johnson Controls beats estimates on strong demand, raises annual profit guidance
(Reuters) – Johnson Controls International posted quarterly earnings ahead of analysts’ expectations on Friday, underpinned by strong demand for heating and air-conditioning systems from commercial buildings, sending its shares nearly 5% higher…
EOG, Coterra beat profit estimates on higher prices, oil demand
(Reuters) -U.S. shale producers EOG Resources Inc and Coterra Energy Inc beat first-quarter estimates on Thursday, joining their peers in benefiting from a sustained fuel demand and tight crude supplies. Shares of…
Booking Holdings beats profit estimates on strong travel demand
(Reuters) – Booking Holdings Inc reported a better-than-expected profit for the first quarter on Thursday, as the online travel agency benefited from pent-up demand that drove consumers to book flights and hotels…
Insurer AIG exceeds profit estimates on strong underwriting gains
(Reuters) – American International Group Inc beat market estimates for first-quarter profit on Thursday, as record underwriting gains cushioned the blow from lower alternative investment returns. AIG, one of the world’s biggest…
Coterra Energy first-quarter profit beats expectations
(Reuters) – U.S. oil and gas exploration and production company Coterra Energy Inc beat profit expectations on Thursday, helped by sustained fuel demand and strong crude prices on tight supplies. On an…
Austria’s RBI Q1 net profit up better-than-expected 49%
FRANKFURT (Reuters) – Austria’s Raiffeisen Bank International, one of the banks in Europe most exposed to Russia, posted a bigger-than-expected 49% rise in profit in the first quarter. Net profit in the…
Sempra beats profit estimates on strength in California units
(Reuters) – U.S. power and gas utility Sempra beat first-quarter profit expectations on Thursday, helped by higher earnings at its California units. While rising output and mostly mild weather so far this…
LATAM Airlines reverses loss, posts $122 million net profit in Q1
(Reuters) – LATAM Airlines reported a first-quarter net profit of $121.8 million, the company said on Wednesday, reversing a net loss of $380 million in the year-ago period. The airline, created by…
Deutsche Post Q1 operating profit slumps amid economic downturn
By Tristan Veyet (Reuters) -Deutsche Post suffered a slump in first-quarter operating profit amid deteriorating macroeconomic conditions, it reported on Wednesday, a day before its new chief executive takes the helm at…
Barrick beats quarterly profit estimates on higher prices
(Reuters) – Canadian miner Barrick Gold Corp beat Wall Street expectations for first-quarter profit on Wednesday, as higher prices of the metal outweighed a decline in production. Average prices of gold rose…
Sysco Corp misses profit estimates on higher input costs
(Reuters) – U.S. food distributor Sysco Corp missed Wall Street expectations for third-quarter profit on Tuesday, hurt by higher raw material costs and a stronger dollar. Shares of the Texas-based company fell…
Sharpie-maker Newell sees 2023 profit at low end of forecast on higher costs, softer demand
(Reuters) – Sharpie-maker Newell Brands Inc on Friday forecast annual sales and profit at the low end of its previous outlook, signaling a hit from softer demand for its products and higher…
Starbucks operator Alsea posts profit bump on sales boost
MEXICO CITY (Reuters) -Mexican restaurant chain operator Alsea posted a 12% bump in net profit for the first three months of this year, the company said in a statement on Thursday, its…
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