Profit of Chevron reached 5.4 billions USD
The second-largest U.S. oil company Chevron has managed to increase its profits tripled in the second quarter thanks to higher oil prices and increased production. Its net profit for the three months ended June 30 amounted to 5.41 billion dollars or 2.70 dollars per share. For the same period in 2009 Chevron has had positive financial result of 1.75 billion dollars, or 87 cents a share. The revenues of the California-based energy company rose to 53 billion dollars in the second quarter compared with 40.2 billion dollars a year ago. This is due to 3-percent increase in production and the price of oil and gas last year. Market analysts had expected Chevron to leave a profit of 2.43 dollars per share on revenue of 59 billion dollars. Its production of crude oil increased by 3 percent annually in the second quarter to 2.75 million barrels per day. Moreover, Chevron has suspended its three-year program to repurchase the shares for 15 billion dollars. Its leadership does not intend to repurchase additional shares in the current quarter. Shares of Chevron dropped by 0.9 percent to 75.35 dollars in early session today on the New York Petroleum Exchange in line with decreases of the U.S. indexes.
GlaxoSmithKline with loses of 465 millions USD
The British medicine manufacturer GlaxoSmithKline posted a net loss amounted to 304 million pounds (464.2 million dollars) for the second quarter. For the same period last year, pharmaceutical giant was a profit of 1.46 billion pounds. The sales for the quarter amount to 7 billion pounds, up to 6.7 billion pounds a year earlier. On the net result is influenced reporting 890 million pounds for restructuring costs and legal costs to 1.57 billion pounds. The company invested large amount of money into marketing strategy for populating the medicines of the company in Asia, which brought serious expenses now. The investment of the company came from mortgage fixed interest rate and repaid the unsecured bad credit loans from the last year. This was tyhe main result for the bad financial result. According to Executive Director of the GlaxoSmithKline group achieved good progress in the diversification of portoflioto and the results of the investigations division and development.
EADS with 40% drop of the profit
The European aerospace consortium and defensive EADS reported a profit decline for the first quarter, as the "Airbus A380" continues to hamper the presentation of the group. However, the company confirms its forecast for the year, AFP reported. EADS net profit fell by 39% yoy to 103 million. With 92% targets crashes the operating result of the fundamental unit Airbus. Sales for the quarter rose 6 percent to 8.95 billion euros, which coincided with the average market expectations. The huge passenger plane A380 still had a strong negative impact on financial results of the company, says its message. From the consortium confirmed the outlook for 2010. Expectations are for a 'global sound' sales (42.8 billion euros in 2009) and operating profit of around 1 billion USD. The company realized politic for decreasing of the expenses in the administration and headquarter, which caused only 39% decreasing of the profits for the company. The new Fixed Rate Mortgage, which was invested into developing of the new "Airbus A380", but till that moment this investment can be threated as bad loan.
DuPont doubled its profit to 1.1 billion USD
Profits of U.S. chemical concern DuPont has doubled over the past 12 months and exceeded market expectations because of increased demand for genetically modified seeds and materials for the manufacture of electronics. The management of the company and raised its forecast for the year, expected earnings per share from 2,5 to 2,7 dollars. In January of Group forecast earnings per share of 2.15 to 2.45 dollars. DuPont's net profit for the first three months of the year rose to 1.13 billion dollars or 1.24 dollars per share, compared with a positive financial result of 488 million dollars or 54 dollars a share, a year ago. Analysts expected a Delaware-based company to reported earnings per share of 1.06 dollars. DuPont's revenue in the first quarter increased by 23 percent annually to 8.48 billion dollars, the volume of its sales grew by 19 per cent. Revenue from the sale of seeds have increased the most, while the units for the production of electronics and automotive paints are again placed on earnings. CEO of DuPont Ellen Kuhlmann The company cut costs by $ 1 billion last year by cutting jobs and close several factories of the company. Shares of DuPont rose 1.3 dollars or 3.2 percent, to 42.25 dollars per share during today's electronic trade on the New York Petroleum Exchange. Participate in the DuPont Dow Jones IA index since 1935 and is one of the longest-detained therein companies. The price increased due to Low Mortgage Rates, which stimulated the profits of the chemical concern. The company trusted on 5 Year Fixed Mortgage, which was offered by Citibank and financed the projects, which turned into high profit the investment in new technologies.
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