profits
German sportswear giant Adidas showed a robust sales performance for its iconic Samba trainers as it reported earnings up for the first quarter of 2024. Media fears some weeks ago that Sunak being seen wearing the trainers might put buyers off have proved unfounded. Adidas reported a revenue of €5.46 billion, an increase of 3.5% on the same quarter last year. Net income came in at €171 million, a significant change on the €33 million loss seen in the first quarter of 2023. Operating profit for Q1 2024 was €336 million, up considerably on the €60 million seen for the same period last year. Earn...
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German national carrier Lufthansa reported its first quarter 2024 earnings on Tuesday, clocking in an operating loss of -€849 million, a steep plunge from Q1 2023's loss of -€273 million euros. However, the group saw its revenue for the first quarter rise 5% year-on-year to €7.4 billion, up from €7 billion in Q1 2023. Net loss for the group was -€734 million, down from Q1 2023's -€467 million. This was mainly due to ongoing strike actions by both Lufthansa's employees, as well as partner companies' employees, which also affected the wider airline industry. Unit costs for Lufthansa's Passenger ...
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Volkswagen Group has reported a 20% year-on-year drop in first quarter operating profit for 2024, as falling sales and increasing costs continued to bite. In addition, a disappointing brand, country and model mix also added to dampened results. The group's sales volume for the same quarter was down 2% compared to the corresponding quarter in 2023, which sold 2.1 million units. Sales revenue also decreased 1% year-on-year to €75.5 billion, with operating profit falling 20% to €4.6 billion. In the first quarter of the year, the South American market saw a 19% growth, with the Asia-Pacific market...
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The share price of the UK banking giant Barclays surged nearly 5% after the lender reported higher than expected profits for the first three months of this year, as it carried out an ambitious plan to get back into the investors' good books. The pre-tax profit was £2.3 billion (€2.68 billion), slightly more than the expected £2.2 billion, however, down from £2.6 billion a year ago. The group income was also slightly above expectations, £7 billion (€8.16 billion), but again, a drop of 4% year-on-year, while the operating expenses increased by 2% to £4.2 billion (€4.9 billion). "Barclays has sho...
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Goldman Sachs has surprised analysts its report of a double-digit rise in revenues and profits for the first three months of this year. Net revenues for the American multinational investment bank and financial services group reached $14.21 billion (€13.36 billion), 16% higher than last year and net earnings jumped to $4.13 billion (€3.88 billion) resulting in a 28% surge compared with a year ago. The New York-based company said it had earnings of $11.58 per share. The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for e...
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The largest US bank JPMorgan kicked off earnings season with a modest 6% annual rise in first-quarter profits on Friday, however, CEO Jamie Dimon warned that inflation and geopolitical risks may impact the bank's operations in the future. Most metrics of JPMorgan's business were solid for the year's first three months. The lender earned a profit of $13.42 billion, or $4.44 a share. JPMorgan's results were impacted by a $725 million one-time charge to the Federal Deposit Insurance Corporation. While investment banking revenues were largely flat, the bank reported an uptick in activity. In the c...
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The Czech power company CEZ said Thursday its 2023 net profit reached 29.6 billion Czech crowns (€1.17 billion), down more than 63% from the previous year, which saw record profits. The country’s main electricity producer attributed the decline to a windfall tax on profits introduced as prices for energy soared. “Despite the extraordinary levy on excess revenues from generation, in 2023 we achieved the highest profit in the last 10 years, with the exception of the extraordinary year 2022,” CEZ chief executive Daniel Beneš said. Still, CEZ said the profit exceeded its initial goal due to additi...
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Barbie and Oppenheimer came out tops in the cinema world in 2023, winning both the approval of the public and Hollywood's most-respected award-giving juries. However, while these films are profiting from their most recent release, older movies are still appealing to the punters. Costumes, makeup, accessories or even swords and magic wands are all part of classic merchandise fancied by some movies' fans. Whether those items are purchased around the film's release or continue to be years after, many movies make profits away from the actual cinema. Here's what the past two months of internet rese...
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Lufthansa, Europe's largest airline group by revenue, saw net profits more than double last year. It is planning to pay dividends again for the first time since the pandemic. The German carrier group, which also includes SWISS, Austrian Airlines, Brussels Airlines and Eurowings, described its 2023 performance as the "third-best financial result in the history of the Lufthansa Group". The group reported a net profit of €1.67 billion for 2023 compared with €791 million on the year earlier. Revenue was up by 15% at €35.4 billion while passenger numbers climbed 20% to more than 120 million. "The L...
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Youth campaign group Bite Back, founded by chef Jamie Oliver, claims that the UK food system is broken and that young people are paying the price. In their ‘Fuel Us, Don’t Fool Us’ report, released on Thursday, they name and shame big companies reliant on junk food products. According to Bite Back, Ferrero and Cadbury-owner Mondelez are the firms with the highest proportion of unhealthy items in their portfolios, with an estimated 100% and 98% of their UK sales coming from junk food. This includes sweet snacks like Kinder Surprise and Freddo bars. Other companies criticised in the report are U...
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