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.
Philips reported 1.3 billion EUR loses for the second quarter
Philips reported 1.3 billion (1.8 billion) net loss for the second quarter. Only weeks ago the company warned of declining revenues from two of its main units for lower sales - for the production of medical equipment and consumer electronics. "This is a signal that demand does not recover," said Hans Slobo, an analyst at Rabobank. The CEO of the company Frans van Houten said the company does not expect improvement in the near future. For CNBC, however, van Houten said he sees good prospects in emerging markets. Because of poor performance Philips will begin implementing a program to cut costs by 500 million, which will continue until 2014, and redemption of shares of EUR 2 billion. Frans van Houten depressed and MTOs to Philips. In 2013, he expects 4-6 percent sales growth and 10-12% growth in profit before taxes and depreciation, writes Reuters.
Profit of Credit Agricole with 89% increase for the second quarter
The French bank Credit Agricole said its profit growth of 89% in the second quarter on an annual basis. So the result is much stronger than prior analyst expectations. The profit of the financial institution 379 million after the second quarter of last year the positive result was 201 million euros. Analysts had forecast a positive result of 318 million euros. With great credit for the strong results, division of corporate and investment banking. It has brought a profit of 330 million targets after the same period last year its profits were 87 million. Thus the bank has managed to neutralize most of the losses caused by the Greek crisis. That is why it is Credit Agricole derecognition of assets for 418 million related to its possession a Greek bank Emporiki. The financial institution realized good financial results of fixed rate mortgages and good business management. Credit Agricole is among the largest creditors in Greece and having large market stake in this branch.
Unilever with about 40% growing of the quarterly profit
The net profit of Unilever NV for the second quarter increased by 39 percent annually to 1.15 billion, exceeding analysts' forecasts rather. Revenues from sales of the Dutch manufacturer of consumer goods increased by 12.4 percent to 11.75 billion. The largest share of which are products body care (over 30%), while that of ice cream and beverages is nearly 23%. Analysts interviewed by Thomson Reuters expected profit of 1 billion euros and sales of 10.22 billion. Among the products are teas Unilever Lipton, soap Dove, Rexona deodorants and ice cream Ben & Jerry's. Company trying to boost sales and gain a greater market share in the fight against major rivals Procter & Gamble Co. and Nestle SA by reducing prices. "The results reflect continued investment in our brands, imposition of new markets, successful innovation and better realization of goods," said CEO Paul Poulman Unilever. He expects weak economic growth, particularly in Europe and North America and boost competition. This means that the company will face difficulties in raising their prices even if the expected growth in commodity prices in the second half of the year.
Profit of BMW increased 7 times for the second quarter
Bayerische Motoren Werke AG (BMW) - the largest maker of luxury cars in the world, reported its largest gain of two and a half years. Net profit for the company's second quarter increased 7 times yoy to 831 million, with an average forecast of 546 million analysts interviewed by the agency. The revenue for the quarter increased to 18% annually to 15.3 billion, aided by increased demand for the new fifth series and increased sales in China and the U.S. "The sharp increase in sales of major markets and product portfolio focused on high value segment, the main reason for good performance in the second quarter," said Chief Executive Norbert Raythofer of BMW. "We have a lot of progress in achieving targets on profitability," he said. Record sales in China - the largest market for cars in the world, and the recovery of the U.S. market forced BMW to raise its forecast for this year. On July 13 the company said it expected its sales for 2010 to increase by about 10% to more than 1.4 million vehicles. BMW, which also makes Mini and Rolls-Royce, has sold 13% more cars in the first half of 2010 compared to the same period last year. "Fantastic results," said Alexei Vunrau, an analyst at BHF-Bank. "It is surprise among the accounts for the second quarter compared to forecasts for the sector so far."
Moody’s profits increased with 11% in the second quarter
The rating agency Moody's announced profit growth for the second quarter by 11 percent annually, transmit Wall Street Journal. A positive result is estimated at 121 million dollars, or 51 cents a share. A year earlier the company's profit was 109.3 million, or 46 cents a share. Of Moody's revenue grew by 6 percent to 477.8 million dollars. Only the U.S. market is an increase in revenue by 10 percent, while the rest of the world recorded a growth of 1 percent. Preliminary analyst expectations were for earnings of 44 cents a share and revenue of 459 million dollars. The report led to the company's growth of 5.6 per cent in the first minutes of today's trading session at 23.92 dollars in cash. The Moody's profit returned to high value, after the bad credits and crisis financing of the company. The company realized good financial policy and increased the incomes for the second quarter of 2010. Also the business management decreased the expenses. The company invested large amount of money in repaying the bad credit loans, but now the finances are stable and company is getting good future.
Siemens also surprised with good financial report
Germany became the latest concern Siemens a leading company which transmits a stronger than expected report for the second quarter of 2010. With a major contribution to this are cutting costs and weak euro, which has helped exports. During the quarter, a third for the fiscal year the company achieved operating profit of 2.33 billion dollars, which is 40 percent more than half the year-earlier profit of 1.66 billion dollars. Siemens operating profit calculated as profit from all sectors in which the company operates. Preliminary analyst expectations that earnings had amounted to 2.1 billion, reports CNBC. Sales during the quarter rose 4 percent to 19.2 billion euros and new orders increased by 22 percent to 20.9 billion. Analysts had forecast sales to rise to 18.6 billion euros and new orders increased to 18.5 billion. Because of the strong results Siemens has picked up slightly its forecast for profit for the fiscal year ending in late September. New profit expectations are from all sectors will be "pretty" over last year's result of 7.5 billion. In its previous forecasts of the management company said it expects "slightly higher" than last year's results.
ArcelorMittal gone on profit for the second quarter
ArcelorMittal - the largest steel producer in the world, posted a net profit for the second quarter amounted to 1.7 billion dollars in losses from 792 million a year earlier. The sales revenue for the period increased by 43% yoy to 21.65 billion dollars. "The improved results are in line with our expectations and reflect continued slow and progressive recovery," said CEO Lakshmi Mittal. "The challenge in the second half of the year will be to transfer the cost of production in the entire increase in its cost," he said. Earnings before interest, taxes, depreciation and amortization for the quarter increased nearly two and a half times yoy to $ 3 billion (estimated). However, it is expected to be 2.1 to 2.5 spadne billion in the next quarter due to seasonal factors and the economic slowdown in China, have made the company, while pointing estimates 2.75 billion dollars. ArcelorMittal announced that is considering a split from his band stainless steel division.
Morgan Stanley gone on profit for the second quarter
The U.S. bank Morgan Stanley announced that it has issued a profit in the second quarter of 2010. The main role is played revenue growth in the company's three main business segments in which it operates - asset management and investment activities. Profit for the period the bank was 1.96 billion dollars or 1.09 dollars per share. Year earlier, financial institution reported a loss of 1.26 billion dollars or 1.10 dollars per share. Preliminary analyst expectations were for earnings of 57 cents per share. The revenues of the bank amounted to 7.95 billion dollars, an increase of 53% over the same period last year. However, below estimates were for earnings of 8.11 billion dollars. Trading in shares of the bank has achieved revenues of 1.42 billion dollars, which is twice more than last year. This result than achieved by Goldman Sachs 1,21 billion dollars and 1.04 billion dollars from JPMorgan. Investment banking has brought 885 million dollars in Morgan Stanley, and from asset management have also received 207 million dollars, the report shows.
The profit of Coca-Cola is increasing
The company producing soft drinks Coca-Cola announced a profit of 2.37 billion dollars for the second quarter, equating to a positive result of 1.02 dollars per share. This represents an increase of 16% annually after the same period last year it was 2.04 billion dollars. Revenues of the giant rose by 5 percent to 8.67 billion dollars, while estimates were for earnings of 8.74 billion dollars and a profit of 1.02 dollars per share, transmit Market Watch. Operating profit of Coca-Cola rose by 13 percent during the quarter and 15 percent this year. If you clear the effects of exchange rates it in the second quarter operating profit increased 11 per cent. Yesterday a report for the second quarter was submitted by a major competitor to Coca-Cola - PepsiCo. Profits came above expectations, due mainly to strong performance of foreign markets and the acquisition of part of businesses, the company's bottled products. Following the publication of the report and before the start of formal session of the New York Stock Exchange shares of Coca-Cola rose 1.4 per cent to 54 dollars cash.
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