Apparel brand Under Armour on Thursday raised its annual profit and margin predictions, anticipating that lower input and freight costs would help overcome poor demand in North America, sending its shares up 6 per cent. The firm is relying on decreased manufacturing costs to boost profits at a time when demand for its garments and footwear has […]
Earnings for the Indian poultry companies improved in H1 FY2024 but commodity inflation could disrupt the momentum in H2, the rating agency Icra has said. The rating agency has maintained its revenue growth expectations at eight to ten per cent for the domestic poultry industry in FY2024. “This will be driven by significant volume expansion […]
Dell Technologies reported third-quarter revenue below estimates on Thursday, attributing it to a slower-than-expected recovery in the hardware and software market. The company’s shares declined by 4 per cent after the announcement. The overall market witnessed a demand slowdown following the surge in electronic device sales during Covid lockdowns, driven by increased work-from-home measures. In […]
Smartphone maker Xiaomi Corp posted a forecast-beating jump in third-quarter net income on Monday, while revenue also topped estimates as flat device shipments outperformed the wider market. The company’s sales for the period totalled 70.9 billion yuan, beating an average estimate of 70.2 billion yuan from 13 analysts polled by LSEG. Net income jumped by […]
Amazon posted its third quarter revenue rose beating street estimates. The tech giant revenue increased by 13 per cent to USD 143.1 billion, which is USD 2 billion higher than analyst expectations of USD 141 billion, Reuters reported Amazon’s net income rose to USD 9.9 billion in the third quarter from USD 2.87 billion in […]
Nike, the world’s leading sportswear manufacturer, has exceeded Wall Street expectations for its first-quarter profit, primarily driven by higher pricing for its sneakers and apparel. The company reported a profit of USD 1.45 billion, equivalent to 94 cents per share, surpassing analysts’ estimates of 75 cents per share. However, its total revenue for the quarter, […]
Transport Corporation of India (TCI), an integrated supply chain and logistics solutions provider on Monday reported a 5.9 per cent year-on-year (YoY) growth in its consolidated net profit at Rs. 832 million for the first quarter of the financial year 2024, compared to Rs 786 million in Q1FY23. The company’s consolidated revenue from operations […]
Toothpaste maker Colgate-Palmolive (India)’s quarterly profit rose 30.5 per cent on Wednesday, aided by improved domestic demand. Net profit rose to Rs 274 crore for the quarter ended 30 June compared to Rs 210 crore a year earlier. Steady rural demand pick-up and some ease in domestic retail inflation helped Indian consumer goods companies log […]
Apple Inc’s stock market value has exceeded USD 3 trillion for the first time, buoyed by signs of improving inflation and optimistic projections of the company’s expansion into new markets. On Friday, Apple’s shares climbed 2.3 per cent to reach USD 193.97, resulting in a market capitalisation of USD 3.05 trillion, as reported by Refinitiv […]
The Railways achieved a freight loading of 134 million tonnes (MT) in May 2023, showing an improvement of 2 per cent over last year’s freight loading of 131 MT for the same period, stated the Ministry of Railways. “Freight revenue of Rs. 14641.83 crores have been achieved in May 2023 against Rs 14083.86 crore freight […]
