General Electric reported 18% profit decrease in Q4 2011
The American corporation General Electric announced a significant drop in profits last quarter of last year. This was not accepted by optimistic investors and the company's shares fell sharply before the start of today's session. The General Electric's profit for the fourth quarter of 2011 amounted to 3.73 billion, or 35 cents a share. This is a drop of 18% achieved against the same period in 2010 4.54 billion, or 42 cents a share.
The revenues also show a decrease - 7.9 percent yoy to 37.97 dollars per share. This is not entirely indicative of the performance of the company since last year's results fall in revenue from the sale of NBC Universal. Without taking into account their income grow by 3.6 per cent on annual base. For the entire 2011 revenue of General Electric are 147.3 billion USD.
Before the start of the official trading session on Wall Street shares of General Electric dropped 2.1 percent to 18.75 dollars per share.
The profit of McDonald’s exceeded the forecasts
The U.S. company McDonald's announced higher than expected profit for the third quarter, supported by new products in the U.S. menu. The largest fast food chain in the world, announced an increase in net profit to 1.51 billion USD, or 1.45 USD per share, compared with profit of 1.39 billion dollars or 1.29 USD per share, for the same period of 2010. The average estimate of analysts was for earnings of 1.43 dollars per share. The sales in developed stores (open to more than 12 months) have increased worldwide, as the U.S. market increased from 4.4% in Europe - 4.9% and in Asia Pacific, Middle East and Africa - 3.4 percent.
"The investments we make in order to optimize our menu, catering practices to modernize and increase accessibility to McDonald's comfortable with existing platforms and valuable lead to an increase in the yield on the shares, which is a clear indication that our strategy is working", said the CEO Jim Skinner Company.
Before opening the markets shares of McDonald's rose 1.5%.
Boeing reported 1.1 billion USD profit for Q3 2011
The Boeing's profit for the third quarter exceeded analysts' expectations. The largest producer of aviation, aerospace and military equipment in the world said it realized a profit of 1.1 billion USD or 1.46 USD per share, in the period from July to September. For comparison, the same time last year the company reported a profit of 837 million USD, writes Reuters. The analysts expectations were that Boeing will realize a profit of 1.1 USD per share. Because of the economic situation, however, the company shrank its expectations for revenue in 2011 to 70 billion USD in the previous forecast of 71 billion USD. Despite a hint of skepticism in the third quarter the company's revenue increased to 17.7 billion USD. Orders of the company at the end of the quarter grew to 332 million USD for 323 million USD reported in early July. The revenue Unit of the Civil Aviation Boeing has increased to 9.5 billion USD for the growth of supply of aircraft. Earlier this month the company announced that it has shipped 127 machines in the period from July to September, including 100 aircraft from the model 737 and 21 - by 777. The number of aircraft delivered is slightly increased compared to the third quarter of last year when the account delivered 124 aircraft. The revenues of the division of Boeing Defense and Space technology in the third quarter were 8.2 billion USD, which is unchanged from last year.
DuPont surprised investors with positive financial report for Q2 2011
The profit of DuPont for the second quarter was higher than analysts' expectations. The good results achieved by the company have enabled management to raise forecasts for the full year. The DuPont's net profit for the period April to June amounted to 1.22 billion USD or 1.29 USD per share. For the same period last year positive result was 1.17 billion USD or 1.26 USD per share. If the acquisition of the Danish company Danisco is removed, the DuPont's profit would be 1.37 USD per share. Expectations of analysts this indicator were to be 1.34 USD per share. The revenues of U.S. second quarter amounted to 10.26 billion USD, recorded growth of 19 percent to 10.26 billion USD. The forecasts were for earnings of 9.68 billion USD. The good results help to increase DuPont forecast for the year. The new forecast is for a positive result within 3.90 to 4.05 USD per share, up over 25 cents more than the previous target range.
At the beginning of today's trading session shares of DuPont rise in price by 1.2 percent to 52.91 USD per share.
Rio Tinto got 30% profit increase due to the strong Asian market
One of the giants in the mining sector - Rio Tinto, announced impressive profit growth for first half of 2011. With a major contribution to the strong results were higher commodity prices and strong demand from Asian economies. The net profit for the first six months of the year amounted to 7.6 billion USD. For the same period last year Rio Tinto profit of 5.8 billion USD. The growth of 30 per cent of profit, however, proved unsatisfactory for market participants and the company's shares have lost about 2 percent today. From Rio Tinto has announced that the program for the repurchase of shares will be increased by 2 billion USD to 7 billion USD. The deadline for operation by the end of March 2012.
"Rio Tinto has achieved yet another record result. Market conditions remained favorable during the past six months due to high demand from Asia", was announced in a statement. The company, however, indicate a risk to the markets of raw materials, mostly related to the debt crisis in Europe and the unclear prospects for the US.
General Electric reported 22% profit growth for the Q2
The General Electric's profit rose in the second quarter with 21.6 percent annually to 3.69 billion, helped by increased demand for jet engines and equipment for oil and natural gas. The profit before extraordinary income / expenses is 34 cents per share - slightly above the forecast of analysts 32 cents. The Revenues of the Group for the period decreased by 3.5% yoy to 35.63 billion dollars in analyst expectations for 34.7 billion, reflecting the sale of majority stake in NBC Universal to Comcast Corp. The largest U.S. conglomerate said that its results for the quarter were supported from the sales of locomotives, which offset weaker demand for wind turbines. GE General orders have increased by 24% to a volume of 189 billion dollars, says chief executive officer Jeffrey mistletoe, which has encouraged growth in the remainder of the year and beyond. The industrial company revenues outside the U.S. increased by 23% annually for a period exceeding total revenue growth from continuing operations, which is 7%.
The analysts say this indicates that the focus of General Electric to emerging markets is paying off.
Disappointing quarterly report from Societe Generale
The second largest public bank in France - Societe Generale, published weaker than expected results for the first quarter of 2011. Net profit of the financial institution for the period was 916 million, down nearly 14 per cent over the same period last year. As the cause highlighted declining interest income. The operating profit of Societe Generale fell by 13.1 percent to 2.243 billion EUR. The expectations of analysts was for net profit of 1.06 billion euros and operating profit at 2.49 billion expected. The revenues of the bank increased the minimum, increasing by 0.6 percent to 6.61 billion in expected to increase to 6.733 billion.
In return on equity is also worsening, as the index is at 8.8 per cent after the first quarter of 2010 was 11.1 per cent. Societe Generale has a network in 83 countries around the world, as problems in the Middle East, North Africa and Ivory Coast have affected significantly the results of the financial institution.
BMW reported 4 times increase of the profit
The Munich-based automobile concern BMW has managed to increase almost four times its profit for the first quarter and thus vulnerable to competition in the high price segment of the Mercedes and Audi. The company is the last major German manufacturer, who presented his results for the first three months of the year. Data show that they were most successful for her as well as its competitors in developing countries and the already established markets like the U.S. and Europe. Furthermore, the Group has managed to sell more limousines and vans, which is the reason for the increase in operating margin of 11.9%. The same indicator for Mercedes is 9.3 percent and for Audi - 10,6%.
"BMW Group started the year strongly", said in the presentation of data CEO Norbert Reithofer. "We achieved record profits and sold more cars per quarter than it was."
The sales of the main brand BMW are up 21% to 321,175 vehicles, thus the concern ahead of Audi and Mercedes. Not see an end to this upward trend - the U.S., the most important export market, the Bavarians have sold considerably more cars than its German competitors in the high segment.
Adidas reported 25% profit increase for the first quarter
The German company producing sporting goods Adidas announced profit growth of 25% to 209 million EUR for the first quarter of 2011. This is well above the expected 182 million EUR, which allowed the company to raise its forecast for the year. Total sales rose 18 percent year on year to 3.27 billion EUR. Expectations were for sales of 2.99 billion EUR. The retail sales grew by 22 percent annually, while operating profit grew by 21 percent to 314 million EUR.
The strongest growth in the first quarter was made in China, where sales grew by 36 percent without taking into account currency differences. In North America and developing countries in Europe the increase was 26 percent.
The new forecast for 2011 is for profit growth of around 10 per cent. For sales expected to increase by over 5 per cent.
General Motors increased strong its profit for the first quarter
General Motors' profit for the first quarter tripled on an annual basis, exceeding forecasts, driven by recovery in the U.S. and strong sales in Asia. The net profit for the company's first quarter rose to 3.2 billion USD compared to only 900 million USD for the same period last year. The GM's revenue rose by 15% to 36.2 billion dollars in the expectation of 35.6 billion USD. Excluding extraordinary income, as are sales of shares of General Motors' Ally Financial and parts manufacturer Delphi, profit for the period was 1.72 billion USD in forecasts for 1.65 billion USD analysts interviewed by Thomson Reuters. The U.S. carmaker has said it expects profit this year without extra elements to increase significantly aided by more favorable prices and lower fixed costs in North America. According to Chief Financial Officer Dan Aman company General Motors is in a position to benefit from higher gasoline prices because of the diversified portfolio to three years ago when the last fuel reached 4 USD per gallon.
"April was very strong for us with a market share of 19.8 percent, the concessions for the purchase are the lowest of the reorganization of the company," said Aman.
GM has been criticized by analysts on Wall Street for big discounts in January and February, which reduced the profits of vehicles sold. Rebates were reduced in March and April, but still larger than those of city rival Ford.
Categories
- American Companies
- Asian Companies
- Australian Companies
- European Companies
- Half Year Report
- Monthly Report
- Quarter Reports
- Yearly Report
Useful Links
Calendar
Recent Comments
- zaki on Unilever with unexpected high profit
- alam on Unilever with unexpected high profit
- Tailynn on Veolia with a profit jump of 44 percent for the year 2009
- Alina Thornton on AT&T hardly increased its profit in the first quarter
- Darrell Hardaway on Adidas with profit increase with the support of the World Cup