Tag Archives: Profit

(Adds detail) MOSCOW, Oct 27 (Reuters) – Russian internet giant Yandex on Wednesday reported an 82% year-on-year drop in third-quarter adjusted net income, in part due to e-commerce investments, but raised its full-year group revenue forecast for a second time. The rapidly expanding company, which is spending $650 million on an e-commerce drive this year, offers services ranging from advertising to ride-hailing and food delivery. It now expects group revenue this year of 340-350 billion roubles… Source link

Check out what’s clicking on FoxBusiness.com. A continued rebound in digital ad spending at Google drove its parent company’s profit up 68% in the third quarter. Mountain View, California-based Alphabet Inc. said Tuesday that it earned $18.94 billion, or $27.99 per share, in the July-September period. Revenue rose 41% to $65.12 billion. GET FOX BUSINESS ON THE GO BY CLICKING HERE Analysts polled by FactSet expected earnings of $23.73 per share on revenue of $63.53 billion. Shares… Source link

Google’s parent company, Alphabet, shrugged off any concerns about a downturn in online advertising with another quarter of blockbuster earnings, lifted by continued strong demand for ads on YouTube and steady growth at its cloud computing business. Alphabet said on Tuesday that net profit in the third quarter rose 68 percent, to $18.94 billion, while revenue jumped 41 percent, to $65.12 billion. The results topped analysts’ estimates for $16.2 billion in profit and sales of $63.5… Source link

A new bipartisan bill announced Wednesday seeks to bring more competition to the app store market currently dominated by Apple and Google. The Open App Markets Act, led by Sens. Marsha Blackburn, R-Tenn., and Richard Blumenthal, D-Conn., and Amy Klobuchar, D-Minn., would shake up the business model of both company’s app stores and the structure of their mobile operating systems. The bill targets, in part, the in-app payment systems for companies that own app stores with more than 50 million… Source link

(Bloomberg) — Tyson Foods Inc., the top poultry producer in the U.S., is racing to get its chicken unit back on track as a new, formidable competitor emerges. The third and sixth biggest U.S. chicken companies, Sanderson Farms Inc. and Wayne Farms Inc., are combining in a $4.53 billion deal, according to a statement Monday from buyers Cargill Inc. and Continental Grain Co. The deal comes as Tyson’s chicken unit posted a loss in its third quarter amid a series of headaches including high… Source link

Facebook (FB) reported second-quarter earnings after market close on Wednesday, with the recovery across the internet advertising industry helping lift the social media company’s results beyond Wall Street’s expectations.  However, Facebook flagged an expected slowdown in revenue growth, and said that decreased ad targeting abilities following an Apple iOS update would negatively impact results going forward. Shares slid more than 3.5% in late trading.  Here were the main metrics from… Source link

July 27 (Reuters) – Google parent Alphabet Inc’s (GOOGL.O) quarterly revenue and profit surged to record highs, the company reported on Tuesday, powered by a rise in advertising spending as more consumers shopped online. Shares of Alphabet, the world’s largest provider of search and video ads, rose 3.3% in extended trading after the results, which handily beat analyst estimates. Shares of Facebook, which competes with Google in web ad sales and reports its own results on Wednesday, rose 1.3%.

(Bloomberg) — Rio Tinto Group, the world’s biggest iron ore miner, reported its highest-ever interim profit and will pay $9.1 billion in dividends as the company and its global rivals cash in on this year’s commodities rally. Rio is the first of the majors to post earnings, kicking off a reporting season that’s expected to see record results across the board. The industry has been one of the biggest beneficiaries from the world’s efforts to emerge from the pandemic. The trillions of… Source link

By Sheila Dang, Nivedita Balu (Reuters) -Google parent Alphabet Inc’s quarterly revenue and profit surged to record highs, the company reported on Tuesday, powered by a rise in advertising spending as more consumers shopped online. Shares of Alphabet, the world’s largest provider of search and video ads, rose 3.3% in extended trading after the results, which handily beat analyst estimates. Shares of Facebook, which competes with Google in web ad sales and reports its own results on… Source link

JOHANNESBURG (Reuters) – South African media and e-commerce group Naspers Ltd reported a 24% rise in profit for the year that ended March 31, boosted primarily by the performance of its investment in China’s Tencent Holdings, the company said on Monday. Africa’s biggest company by market capitalisation reported core headline earnings per share – the main gauge of corporate profit in South Africa – of 814 U.S. cents, up from 656 cents reported for the same period a year earlier. Its 28.9% stake… Source link