November 11, 20240 Comments

SoftBank expected to book $1.87 billion profit on IPOs By Reuters

By Anton Bridge TOKYO (Reuters) – Japanese technology investor SoftBank (TYO:) Group is expected to report a 287 billion yen ($1.87 billion) quarterly profit on Tuesday, boosted by successful portfolio company listings even as a stronger yen dampened foreign currency-denominated gains. Analysts are also looking out for signs of new investment momentum driven by SoftBank’s robust balance sheet and management’s bullish stance on artificial intelligence (AI). The net profit forecast

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November 11, 20240 Comments

Continental cuts sales guidance, posts Q3 profit beat By Reuters

(Reuters) – German automotive and industrial supplier Continental on Monday (NASDAQ:) cut its sales guidance for the second time this year, blaming weak demand in Europe and North America, even as it posted third-quarter core profit above expectations. Continental now expects sales for 2024 to be between 39.5 and 42 billion euros ($42.9 and $45 billion), down from the 40 to 42.5 billion euro range it gave in August. That

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November 11, 20240 Comments

SIA shares fall 6% as profit nearly halves amid intensifying competition

An Airbus A350-941 from Singapore Airlines is preparing to take off on the runway at Barcelona-El Prat Airport in Barcelona, Spain, on May 1, 2024. Nurphoto | Nurphoto | Getty Images SINGAPORE — Shares of Singapore Airlines dropped after the city-state’s flag carrier reported a fall of almost 50% in net profit for its first half April to September period, citing lower yields and growing competition. As markets opened on Monday,

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November 8, 20240 Comments

Sony operating profit jumps 42% in H1 By Reuters

TOKYO (Reuters) – Sony (NYSE:)’s operating profit soared 42.3% in the first half of the financial year ending March, the company reported on Friday. Profit for the April-September period was 734.18 billion yen ($4.80 billion). ($1 = 152.8700 yen) Source link

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November 7, 20240 Comments

Rivian sticks to gross profit target despite part supply disruption By Reuters

By Akash Sriram and Abhirup Roy (Reuters) -Rivian stuck to its forecast of achieving gross profit in the fourth quarter even as it reported its first drop in quarterly revenue hurt in part by shortage of a component. Shares of Rivian (NASDAQ:) rose nearly 2% as the Irvine, California-based company expects to “generate modest positive gross margin” in the current quarter helped largely by cost cuts, and higher revenue per

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