Business News » profits

Banks in USA made 21.7 billion USD profits for the 4th quarter

viliyana89 — Thu, 24 Feb 2011 00:03:20 +0000

The U.S. banks have made with a profit of 21.7 billion dollars in the fourth quarter of 2010, which is the fourth consecutive profitable quarter for the banking industry in the U.S. For the same period the previous year was reported loss of 1,8 billion dollars. The net profit of banks in the U.S. decreases compared with those reported in the third quarter, 24.7 billion dollars profit, writes Wall Street Journal, citing data from the FDIC to insure deposits in the U.S. They reveal also that the list of problem banks in the country has increased by 24 over the last three months of 2010, although the banking sector continues to recover with the economy. At the end of last year’s total of 884 of all 7,657 U.S. banks are troubled list compared with 860 at the end of September. Since the beginning of the year, 22 failed U.S. banks, from FDIC to insure deposits expected number for the whole year will not surpass question last year, a record for the past 18 years from 157. The FDIC to insure deposits set 2010 as a year of turnaround for the banking sector, net profit is greatest for the last three years and amounted to 87.5 billion dollars. The increase was helped by its reduction in reserves for problem loans, which decreased by 50% yoy in the fourth quarter to 31.6 billion dollars.
About 21% of U.S. banks have come to a profit last year compared with nearly 32% in 2009. In 2009, the U.S. banking industry reported a loss of 10.6 billion dollars.

Big airline companies with 3,9 billion USD profits

viliyana89 — Tue, 31 Aug 2010 12:38:11 +0000

The major airlines have made a profit of 3.9 billion dollars in the second quarter of 2010 show to the International Air Transport Association IATA. This indicates that the sector is in much better financial position compared to same period last year. Then the 47 largest airlines, the results of which are monitored by International Air Transport Association IATA, registered a loss of 881 million dollars. Main tribute to the strong performance had stable fuel prices and the gradual recovery of demand in recent months. With the strong performance are North America and Asia-Pacific region, the results of European airlines have been supported by sales of assets for 1.3 billion dollars. The profits of the airline companies, increased after the summer season in Europe, Asia and North America, which caused serious profits for the airlines. The companies removed the losses after the Iceland vulcano and realized high increase of the profits, which is also good sign for economy recovery. For the same period last year 47 leading airline suffered a loss of 881 million dollars.
The positive financial report of many companies supported world increases in the beginning of the current week.

Deutsche Bank with higher profit than expected

viliyana89 — Mon, 26 Apr 2010 22:49:16 +0000

The largest commercial bank in Germany Deutsche Bank reported 48 percent profit increase for first quarter, thanks to the good performance of the investment division of a financial institution. The positive financial result of the bank is 1.76 billion euros or 2.66 euros a share for 1.19 billion reported January-March 2009 analysts’ expectations were more modest profit of 1.33 billion. The investment bank division has doubled its profits tax shouting to 2.6 billion due to the trade in shares and debt instruments. Agency sign that Bank of America and JP Morgan reported record profits of banking investment. Write-offs of assets were EUR 241 million. against EUR 1.5 billion a year ago. Although data reach an inhabited the company’s shares fell to 67 cents to 54.68 EUR at 10:32 local time.
The financial report of Deutsche Bank is good sign for economy recovering of Eurozone and Germany.

The profits of Johnson & Johnson is increasing

viliyana89 — Thu, 22 Apr 2010 07:55:28 +0000

Largest producer of healthcare products worldwide Johnson & Johnson reported 29 percent profit growth for first quarter of this year, which is a sign that the company continues to recover from the crisis, which affected its operations last year, forward AP. Much of the growth of profit, however, due to the effects off, bearing the company 910 million dollars in revenue from the liquidation fee. Its sales have also increased – by 4% yoy to 15.63 billion dollars. U.S. sales decreased by 5% over the past 12 months, while its revenues from international markets increased by 14.4 per cent. Nearly two-thirds of this increase is due to changes in exchange rates over the past year. The net profit of Johnson & Johnson for the first quarter amounted to 4.53 billion dollars or 1.62 dollars per share, compared with a positive result of 3.51 billion dollars or 1.26 dollars per share for the same period 2009. If one-off effects are excluded, the positive financial result increased by 3.1 percent to 3.6 billion dollars or 1.29 dollars per share. This was more than economists forecast profit of 1.27 dollars per share and revenue of 15.6 billion dollars. Relatively good financial results for the company’s first quarter was marred by the projections of its management, which reduced its forecast for the entire 2010 to U.S. $ 4.8 earnings per share compared to previous 4.9 dollars.
Market capitalization of the company, which participated in 1997 in the prestigious stock index Dow Jones IA, increased by 24 percent over the past 12 months and at the end of yesterday’s trading session was 182 billion dollars. Shares of Johnson & Johnson rose 0.4 percent to 66.26 dollars per share in times of today’s electronic trading on the New York Stock Exchange.

Coca Cola profits with 19% increase

viliyana89 — Wed, 21 Apr 2010 21:51:01 +0000

The largest company producing soft drinks in the world – the U.S. Coca-Cola, announced profit growth of 19 per cent in the first quarter. That has contributed to the strong performance of the company’s products on foreign markets. This is offset significant cost savings to American consumers because of the crisis. Profits of Coca-Cola for the quarter to April 2 at the rate of 1.61 billion dollars, or 69 cents a share, compared to a profit of 1.35 billion dollars, or 58 cents a share for the same period last year. Company revenue rose 5 percent to 7.53 billion dollars. The results of Coca-Cola are among the few who were below the expectations of market analysts for major companies in the U.S.. The forecasts were for earnings of 75 cents per share on revenue of 7.72 billion dollars, transmits AP. Most improved results of Coca-Cola in Eurasia and Africa, where sales volumes increased by 11 per cent. Surge in India is 29 per cent, while in Turkey – 11 per cent. Double-digit growth was achieved even in Russia, Egypt, Brazil, Vietnam and the Philippines.
In the first quarter of the year about three-quarters of the revenues of Coca-Cola came from markets outside North America, which, however, remains the largest market for soft drinks in the world.

Don’t worry for your money!

viliyana89 — Fri, 16 Apr 2010 17:30:05 +0000

The Germans are outraged that have to pay the debts of Greece. Politicians exploit these feelings without having to bother to explain to people the whole truth, says the publication of the newspaper Suddeutsche Zeitung, quoted by Radio Deutsche Welle. Reality has little to do with clichés. Worse is that the Germany government totally failed in its mission to inform and calm just Germans the truth about what is highly indebted to Greece for the common currency, responsibility and interests of Germany. Silence continued so long that finally Luxembourg Prime Minister Juncker seemed forced to take over the role of educator.
No money – no jobbery
In an interview on the radio Juncker said what chancellor Merkel suppressed. He explained that no European taxpayer and at least Germany should be afraid for their money. In the event that Athens asked for money, she will get a loan, which will be quite normal to pay interest. Germany Government may even benefit from such a loan, since it would take the money market at much more favorable conditions than those under which they grant to the Greeks. And not only Germans could allocate money to Athens. No, we should help all countries in the euro area, the burden will be distributed in accordance with a special key.
Furthermore, why the government did not explain Germany finally, that it is not very unselfish when it comes to financial aid? Germany Greece credits are beneficial for Germany’s economy. Greece is an important market for Germany companies. Greeks love Germany as much goods as the Germans like to go on holiday in Greece. No money – no jobbery, this is the truth.
Who wins and who loses?
And do not forget the interests of Germany and banks. Special provincial banks have invested in the cool Greek securities – total around 30 billion euros. If these securities suddenly lose its value, then even before the end of the year just rescued so many billions of taxpayers’ financial institutions will once again prove to the brink. And that means they probably will again need to be saved.

Profits of Hyundai jumped fourfold in the fourth quarter

viliyana89 — Tue, 02 Feb 2010 07:32:58 +0000

The largest South Korean carmaker Hyundai please their shareholders with news that profits for the last three months of 2009 increased nearly four-fold. This helped and government programs in many countries around the world to promote sales of new and more efficient vehicles, police Bloomberg. The net profit of Seoul-based car company is increased to 945.5 billion South Korean won (821 million dollars) for the fourth quarter of last year from 243.5 billion won profit a year ago. This was more than market expectations for a positive financial result of 815.6 billion won. Hyundai sales in the fourth quarter rose by 9.3 percent annually to 9.65 trillion. won. Leadership plans to market in South Korea for at least three new models this year. This continues to be the most profitable market for the company as sales there rose by 63% yoy in the fourth quarter. Throughout the past year the retail sales of Hyundai’s worldwide increased by 14 percent to a record 3.2 million vehicles. The company’s market share is increasing in the United States, China and India. The global market share of the company last year reached 5.2 percent, according to Chief Financial Officer of Hyundai Hee Lee Vaughn.
Shares of Hyundai Increase 4.1% to 113 500 won on the Seoul stock exchange. Since the beginning of this year the market capitalization of the automotive company declined with 6,2 per cent, having previously tripled in 2009. Hyundai sales in the United States throughout the past year increased by 8.3 percent to 435 064 vehicles, which is the strongest growth among all leading car manufacturers in the world. Hyundai was able to increase its market share to the Japanese rival Toyota and American General Motors, thanks to good marketing and supply of small, economical cars.

The software for mobile phones – business for 6.2 billion USD

viliyana89 — Fri, 22 Jan 2010 09:39:02 +0000

The Consumers worldwide will spend 6.2 billion dollars in 2010 in the stores for mobile applications, predicts Gartner. Analysts think of the famous agency that stores mobile applications will register more than 8 billion “Download” in 2010 Eight out of ten downloads of free will, even predict the company. Until 2013 did the total number of withdrawn applications will reach 21.6 billion if free downloads will account for about 82% of all withdrawals in 2010, then three years later free download will represent 87 percent of all. The growing popularity of smartphones and growing sales volumes of such devices will prompt users to experiment with mobile applications analyzed by Gartner. Researchers are categorical that the games remain the number one use for mobile gadgets, followed by applications for mobile shopping, social networks.
The companies in this financial sector made high profits in the years of crisis

Sberbank with 82% drop in profits due to provisioning for bad loans

viliyana89 — Mon, 07 Dec 2009 21:41:02 +0000

The Russia’s largest bank – Sberbank, reported a decline in profits for the third quarter by 82 percent for allocation to cover bad loans. The bank’s profit for the period July-September fell to 4.25 billion rubles (144 million dollars) from 23.2 billion rubles a year earlier. The overdue loans at the end of the third quarter accounted for 7.9 percent of total lending to the share of 1,8 per cent in the beginning of the year from 6,4 percent in late half. Provisions for bad debts jumped by 27 percent during the third quarter to 493.8 billion rubles, an increase of more than eight times the comparable period last year. Total bank lending increased by 4,8 percent to 5,5 trillion rubles.
The corporate loans increased by 8.4 per cent for the period, a consumer declined by 6,7 per cent.

Large profit drop of Fiat

viliyana89 — Thu, 22 Oct 2009 20:18:26 +0000

Italian Fiat automobile concern announced that for the third quarter of the year, sales revenue fell by 62 percent, and the reason for this is mostly a partnership with Chrysler Group, wrote in an online version of newspaper Wall Street Journal. The report of the company shows that its net profit in the third quarter fell nearly 19 times – up to 25 million, compared to 468 million EUR a year earlier. Revenue fell to 12 billion euro, 14.3 billion EUR a year ago at this time. “The company may reconsider the viability of investments made and planned, and even lead to their reduction,” he wrote in a message distributed to the media of concern. Because of this Fiat forecasts that revenue from sales by the end of the year will fall by another 1 billion EUR and losses of the Group will reach 5 billion EUR.
This report came after a lot of speculations for the good financial situation of the company, which increased the shares of Fiat with 1.3 percents last week.