Volvo reported growth of the net profit
The Swedish automaker Volvo today announced an increase in the net profit and orders received in the third quarter but said it is difficult to assess the development of world economy and the impact on demand over the next year. The net profit was 3.83 billion Swedish kronor (583 million USD) compared to 2.81 billion Swedish kronor in the same period of 2010, revenue grew 15% to 73.32 billion Swedish kronor. Operating profit reached 5.77 billion Swedish kronor from 4.91 billion a year ago, and orders for trucks increased by 18% to 59,975 units. The company, which ranks second in world production of trucks after the German concern Daimler AG, said it expects 10% drop in demand in Europe, but an increase in orders from North America due to the replacement of older trucks, and growth in Japan in the ongoing rehabilitation of the country after the devastating earthquake and tsunami waves in March this year. From Volvo remain cautious about global growth in orders, indicating that monitor user activity. The company plans to reduce production to Europe in 2012 to be closer to expected lower orders in the region.
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.
Procter&Gamble reported 8.2% profit growth
The giant in the production of consumer goods Procter & Gamble announced profit growth for the second quarter after cut costs and price increases helped to reduce the impact of more expensive materials and some weaker markets like the U.S. The American company that produces everything - from Gillette razors to disposables, has earned 2.51 billion USD, or 84 cents a share in the second quarter.
During the same period of 2010 profits of Procter & Gamble was 2.19 billion USD, or 71 cents a share. The revenue rose 10% to 20.86 billion USD, the volume of goods sold increased by 3%.
The analysts polled by Reuters expected earnings of 82 cents per share on revenue of 20.6 billion USD.
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.
Bank of America with 1.2 billions USD loses for the 4th quarter of 2010
The biggest U.S. bank in terms of its assets Bank of America announced a loss of 1.24 billion dollars for the fourth quarter of 2010 due to increased provisions for problem loans. The removal of the division of the Bank's mortgage lending and Countrywide Financial costs led it against lawsuits also affect its financial results during the quarter. The loss of 1.24 billion dollars, or 16 cents a share, to increase the negative financial result of 194 million dollars for the same quarter of 2009. After excluding one-off income and expenses, however, Bank of America made a net profit of 4 cents a share. This proved to be less than analysts expected 21 cents per share. Revenues for the fourth quarter amounted to 22.6 billion dollars. Throughout the 2010 Bank of America has suffered a loss of 2.23 billion dollars, or 37 cents a share. The bank is really the largest in USA, but realized very good business management last years, which stabilized the financial conditions in it and whole economy and banking sector of USA.
Ford reported 1.7 billions USD profit
The U.S. carmaker Ford reported a profit of 1,7 billion dollars for the third quarter, the sixth consecutive quarter with positive financial results. Earnings per share was 43 cents, which is a significant increase compared to earnings of 29 cents per share achieved for the same period last year. As the exclusion of certain one-off effects, profit, Ford is 48 cents a share, well above analysts' expectations of 38 cents per share. Revenues of the American company, without taking into account the results of Volvo Cars, amounted to 30.7 billion dollars. Due to the improved financial condition by Ford have paid a credit line of $ 2 billion. The company also announced that this week will be paid 3.6 billion dollars to cover commitments associated with health insurance for employees. The company reduced debt by 27.3 billion dollars at the end of the second quarter to 22.8 billion dollars to 30th September. The company repaid its Loans got in the beginning of the financial crisis, and now feel the recovery of the economy and good business conditions.
AIG with 2.4 billions USD loses, in spite of assets sales
The rescued by U.S. government insurance company AIG announced a loss of 2.4 billion dollars for the third quarter. This negative result is equal to 17.62 dollars per share, for the same period last year was reported profit of 455 million dollars, or 68 cents a share. The company released a loss during the quarter despite the executed sale of many of its assets worldwide. This indicates that AIG is quite difficult to collect the sum of $ 100 billion, which was given by the U.S. government in the midst of crisis, writes Reuters. The operating results for the third quarter, without taking into account one-off effects, show a loss of $ 200 million, or 1.47 dollars per share. Expectations of analysts was that this indicator will amount to 1.35 dollars per share. Today, shares of AIG lost 0.4 percent to 44.57 dollars a share. Since the beginning of the year, they have increased by nearly 50 per cent. The company realized bad management, which almost turned it to bankruptcy in the top of the financial crisis. AIG is the strongest and largest insurance company in the world, but even this did not helped to the them with Bad Credit Loans insurance.
Chevron disappointed with quarterly financial report
The American company Chevron disappointing financial results for the third quarter. They are due to the imposed by U.S. authorities moratorium on deep sea oil drilling and the low value of the dollar. The company reported a 1.6 per cent of profit to 3.77 billion dollars or 1.87 dollars per share. For the third quarter of last year the profit of the second oil company market capitalization in the U.S. there was 3.83 billion dollars or 1.92 dollars per share. The sSales of Chevron has increased by 7.5 percent to 48.55 billion dollars. Expectations of analysts was for earnings of 2.15 billion dollars. The production is a growth of 1 percent to 2.74 million barrels of oil equivalent per day. Today, shares of Chevron lost 1.7 percent to 83.03 dollars a share. The company has made solid investments in reinforcing security and invest a lot in innovation technologies for oil. After the incident in the Gulf of Mexico and spills was imposed strict moratorium on drilling for oil in deepwater areas. This aggravates the situation on financial markets, where one of the biggest streams of money for American companies running down black gold.
Carrefour with 82 million USD profit for the half year
The French retail chain retail Carrefour has issued a profit in the first half of 2010. This is mainly due to the good performance of emerging markets, which offsets the negative effects seen in Western Europe. Of Carrefour profit was 82 million after the first six months of last year was reported a loss of 58 million. Do sales increased by 5.9 percent to 48.9 billion EUR, reported Wall Street Journal. Operating profit for the first half was 1.1 billion following last year were achieved 1.02 billion. Preliminary expectations were for an operating profit of 1.05 billion. This allows the company, which is the second largest chain of retail sales in the world after the American Wal-Mart, to confirm its forecasts for operating profit in 2010. It is a positive result of 3.1 billion. Over the last six months of Carrefour shares have increased by 1,5 per cent of the exchange in Paris. This presentation is much better than the presentation of the overall market as the main CAC 40 index lost 7.5 per cent for the period.
Pfizer increased its profit with 10% to about 2.5 billion USD
The strong jump in sales of drugs increased more than expected profits of U.S. pharmaceutical company Pfizer in the second quarter of this year. That contributes to the greatest extent the acquisition of its competitor Wyeth in the last quarter of 2009. Pfizer net profit increased by 9.5 percent annually to 2.48 billion dollars, or 31 cents a share. Net profit per share amounted to 62 cents after excluding one-off effects, which was more than forecast by analysts 52 cents. A year ago, the positive financial result was EUR 2.26 billion, or 34 cents a share. New York-based company has revenues of 17.3 billion dollars for the second quarter, up 58 per cent more than the same period of 2009. The acquisition of rights over medicines and vaccines to Wyeth contributes greatly to the strong increase in sales to Pfizer. The management of the pharmaceutical company plans to cut 19 thousand employees this year and close eight factories producing medicines, as well as six research centers. Confirmed by Pfizer and forecasts of financial results in 2010, expecting earnings per share is the range of 2.10 to USD 2.20.
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