UBS reported a 52% annual drop in net profit on Tuesday amid a legacy litigation matter, but maintained it is a “source of stability” for its clients during periods of high uncertainty. These are the bank’s first results since announcing its takeover of rival Credit Suisse. related investing news UBS said net profit came in…
A Santander office building in London. Luke MacGregor | Bloomberg via Getty Images Spain’s Santander on Tuesday said its net profit in the first quarter rose 1% compared to the same period of 2022 thanks to higher lending income, especially in Europe, which offset a weaker performance in Brazil and the United States. The euro…
Troubled regional bank First Republic said Monday that its deposits fell 40.8% to $104.5 billion in the first quarter, which saw the collapse of two other mid-sized banks and sparked fear from customers about widespread bank failures. The deposit flight at First Republic was worse than Wall Street expected, with analysts estimating the figure at…
Nokia new logo displayed on mobile, with Nokia logo on screen. Nurphoto | Nurphoto | Getty Images Nokia on Thursday reported quarterly operating profit below market expectations as the Finnish company is selling more 5G gear in low-margin markets and said it was seeing signs of customer spending slowing down. First-quarter comparable operating profit fell…
Details of Renault’s Scénic Vision concept car were presented to the public on May 19, 2022. Benjamin Girette | Bloomberg | Getty Images French car maker Renault said on Thursday revenues had grown by 30% in the first quarter thanks to a rebound in sales and higher prices. Boosted by the launch of several premium…
IBM Chairman and CEO Arvind Krishna appears on a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 17, 2023. Stefan Wermuth | Bloomberg | Getty Images IBM issued stronger-than-expected first-quarter earnings on Wednesday even as the technology and consulting company reported disappointing revenue. Here’s how the company did: Earnings: $1.36 per…
The Abbott manufacturing facility in Sturgis, Michigan, on May 13, 2022. Jeff Kowalsky | AFP | Getty Images Shares of Abbott Laboratories popped Wednesday after the company’s earnings and revenue topped Wall Street’s expectations, defying a dramatic slowdown in sales of its Covid-19 tests. The medical-products company posted adjusted earnings per share of $1.03. That’s…
Employees of the Tesla Gigafactory Berlin Brandenburg work on the final inspection of the finished Model Y electric vehicles. The Tesla plant was opened and put into operation on March 22, 2022. Patrick Pleuil | Picture Alliance | Getty Images Tesla is scheduled to report first-quarter earnings for 2023 after the close of trading on Wednesday.…
The Netherlands is pressing ahead with export restrictions – a policy that will affect ASML. Bloomberg | Bloomberg | Getty Images ASML Holding NV, a key supplier to computer chip makers, on Wednesday reported first quarter earnings that beat expectations, as customers received its products at swift clip despite signs of weakness in end markets.…
Citigroup reported rising net income and better-than-expected revenue for the first quarter, boosting its stock Friday. Here is how Citigroup’s key metrics compared with expectations. $4.6 billion in net income vs. $4.3 billion in the same period last year $21.45 billion in revenue vs. $19.99 billion expected, according to Refinitiv. Citigroup reported earnings of $2.19…
