Linkedin Shares Dropped 26% at First Quarter on Lower Profit Forecast

LinkedIn shares fall 26% after the company projected lower than expected profits for the first quarter of 2016.

 

The social media site forecast earnings of $0.55 per share - far below analysts expectations of $0.74 per share. 

Ford to cut jobs to save $200m in Europe

The carmaker said it was launching a voluntary redundancy programme and improving manufacturing efficiencies.

It also said it would focus on its most profitable models, such as sports utility vehicles (SUVs).

 

Ford Europe returned to profit for the first time in four years in 2015, as the parent group recorded record profits of $10.8bn.

Amazon missed analysts' estimates fourth quarter despite posting a 21.8% rise in sales and record profits.

Net sales rose to $35.75bn, which was about $200m short of Wall Street predictions. 

That was enough to send shares tumbling more than 13% in after-hours trading in New York.

Annual net profit of $596m also missed estimates as operating expenses jumped almost 18%.

However, profits for the three months to 31 December more than doubled to a record $482m (£335m).

Toshiba Record $4.5bn loss since April.

The company, whose activities range from laptops to TVs to nuclear energy, is planning to cut 6,800 jobs.

Investors sold Toshiba shares on Monday, leaving them down 10%. 

Toshiba's president and vice-president resigned in July after the firm said it had overstated profits for six years.

Masashi Muromachi took over as chief executive and president from president Hisao Tanaka and vice-chairman Norio Sasaki also resigned in the wake of the scandal.

Facebook reprot profits rise of 11%on advertising revenue hike

The social media firm reported a net income rise of 11% to $891m (£579m) in July to September, compared with $806m in the same period last year.

Facebook also reported that developing markets had seen strong growth in the number of users. 

 

Facebook chief Mark Zuckerberg said the company was "focused on innovating and investing for the long term".

Facebook's product

British Airways (IAG) reports strong profits

IAG posted a pre-tax profit for July to September of €1.1bn ($1.2bn; £792m), up 48% from last year.

The company owns British Airways, Iberia, Vueling, and bought Aer Lingus earlier this year.

 

IAG announced on Thursday that it would be paying its first dividend, which will be 10 euro cents per share.

Lloyds Bank rise in third quarter profit- Report

Lloyds Banking Group has said pre-tax profits for the three months to the end of September rose to £958m, up from £751m a year earlier.

 

However, the bank's shares fell as it set aside more money to compensate customers over the mis-selling of Payment Protection Insurance (PPI).

Conoil may drop profit for the second year

conoil

Conoil has not maintained a stable record earnings growth in the past five years and a sustaining drop in profit looks likely for the oil marketing company this year. The company closed last year with the lowest sales revenue figure in four years and profit fell to less than one-third of the preceding year’s figure. This year, sales revenue is headed for another sharp drop based on the second quarter performance and profit could drop for the second year as well.

Alphabet company reports profit gain

Net income was $3.98bn, up from $2.74bn for the same quarter last year.

 

Google's revenue was $18.7 (£12.1bn) compared with $16.5bn.

Growth came mainly from mobile searches and YouTube users. 

In August, the company created Alphabet as the new parent company of Google and its other diverse businesses.

In a year Tesco sees new fall in profits

Underlying profits for the first half of its financial year were £354m, 55% down on the same period last year, when it made £779m.

TESCO

Its pre-tax profit was £74m, compared with a loss of £19m for the same period a year ago.

Like-for-like sales were down 1.1% for the UK and the Republic of Ireland.

The group warned price deflation was still having a detrimental effect.

Chief executive Dave Lewis said in a BBC interview he was "quietly confident" about Tesco's turnaround, admitting the group hit a low point at the end of last year.

Delayed subsidy Payments, leads to fall in Conoil Income

Conoil Nigeria Plc has succumbed to the delays in the payments of outstanding monies by governments as the company’s net income dropped 72.82 percent to end the 2014 financial year.

These delays have hindered most major petroleum oil marketers from importing products in the last two quarters of 2014 and earlier in the year as the banks were unable to finance LCs for importation due to the huge exposure to subsidy.

Conoil’s profit was N834.42 million in June 2015 as against N3.07 billion the previous year.

Logistics Company, Red Star Express posts N6.7bn turnover

red star express

Red Star Express Plc, leading logistics Company, today posted N6.7Billion turnover  for the financial year ended March 31, 2015 and a profit after tax of N611million representing one percent increase in profit over 603.9 million profit for last year.

In spite of Challenges, UBA profit rises 40% as half year earnings,

Pan-African financial services group, United Bank for Africa Plc, has announced its audited 2015 half year financial results.

UBA

The results showed strong growth in earnings and profits, as the Bank continued to benefit from its determination to provide value to its large customer base in Nigeria, its increasingly important pan African network, now contributing over 23 percent of profit after tax and its prudent management of costs and risk.

In a time of increased economic challenge, the Bank has continued to extend loans to Nigeria and to support domestic Nigerian businesses.

 In line with best practice in corporate governance, UBA has elected to have its half year results audited, before its release to the Nigerian Stock Exchange.

 UBA’s earnings grew strongly by 21 percent to N166.9 billion during the period, compared to N138.2 billion in the same period of June 2014. 

The Bank’s profit before tax (PBT) also rose 35.1 percent to N39.0 billion, while profit after tax (PAT) was up a significant 40 percent to N32 billion within the same period. As a reward to shareholders, the Bank has announced the payment of an interim dividend of 20 kobo per share.

Nairobi goes lower, as Jo’burg gains high on Stock Markets.

For stock investors in Major African stock markets like the Nigerian Stock Exchange (NSE), Egyptian Exchange, Kenya Securities Exchange, Ghana Stock Exchange, and Mauritius Stock Exchange, it has been a mixed bag of fortunes in terms of returns this year.

On the positives, investors in the Johannesburg Stock Exchange and that of Morroco (Bourse de Casablanca) have had reasons to smile.

Prudential Business Profit Boosted by Asia and US by 17%

The insurer said profit in the six months to June was £1.88bn, a 17% rise from £1.6bn last year after currency movements are stripped out.

 

It also said its life and asset management products in the UK had done particularly well during the period.

MTN South Africa Group report 10.3% fall Profit

MTN Group has reported a 10.3 percent fall in half-year profit on Wednesday, hit by handset supply disruptions in its mainstay South African market following a seven-week long strike.

 

MTN, which operates in several African countries, including Nigeria, said diluted headline earnings per share (EPS) were 654 cents in the six months to the end of June compared with 727 cents a year earlier.

Takata Centre Huge Profit Despite Global Airbag Recall

The company has been at the centre of a huge global recall over faulty airbags it supplied to numerous car companies.

The airbags have been linked to six deaths in the US. 

Despite the recalls, the company saw higher sales in the US, India and South East Asia and maintains its profit forecast for the full year at 20bn yen.

The fault has led to 34 million cars being recalled in the US, the biggest vehicle safety recall in US history.

Thorntons shares Jump 42% on £112m Ferrero offer

The cash offer of 145p per share valued Thorntons at around £112m, and represented a premium of around 43% on the closing price on Friday.

 

Thorntons saw sales and profits fall in the half year to 10 January, and issued a profit warning in December.

De La Rue shares dive as Profits Fall

It warned last year that profits would be £20m lower than in the year before.

Operating profits were down 22% at £69.5m, in line with that guidance, but the company also chopped its dividend from 42p to 25p.

Our Quarterly Earnings Beat Forecasts-BMW

Underlying earnings rose more than 20% to €2.52bn ($2.84bn; £1.85bn), beating analysts' forecasts.

Revenues in the January-to-March period rose 14.7% to €20.9bn.