Prince Harry and Meghan Markle are said to be reeling after new figures revealed Prince William’s annual earnings. A recent annual report from the Duchy of Cornwall, which funds the work of the Prince and Princess of Wales, revealed that William earned around $30 million in the 2024 to 2025 financial year. The figure quickly […]
EARNINGS
US oil giants to keep a lid on spending even as profits surge
US oil giants ExxonMobil and Chevron reported strong profits Friday riding a wave of higher prices amid recovering demand, but pledged to keep a lid on spending. The results marked a 180-degree reversal from this time last year when the companies suffered hefty losses amid heavy pandemic restrictions that crimped economic activity and halted travel. […]
AstraZeneca says Covid vaccine sales top $1.0 bn
British pharmaceuticals giant AstraZeneca said Thursday that its Covid jab generated $1.2 billion (1.0 billion euros) in sales in the first half of the year as global vaccination programmes accelerated. Sales more than tripled to $894 million in the three months to June, from $275 million in the three months to March, it said in […]
Samsung reports surge in profit on pandemic-led demand for chips
Samsung Electronics’ net profits surged more than 70 percent in the second quarter thanks to higher memory chip prices fuelled by pandemic-led demand, the South Korean tech giant reported Thursday. Coronavirus-driven working from home boosted demand for devices and appliances powered by Samsung’s memory chips. The company said that “memory shipments exceeded previous guidance and […]
Higher oil prices boost Mexico’s Pemex in Q2
Mexican state energy giant Pemex said Wednesday that a recovery in oil prices helped it make a profit of around $720 million in the second quarter of 2021. The company reported net earnings of 14.4 billion pesos for the three months through June, compared with a loss of 44.3 billion pesos in the same period […]
Apple quarterly profit nearly doubles to $21.7 bn
Apple said Tuesday its profit in the just-ended quarter nearly doubled to $21.7 billion on growth in iPhone sales and digital services. Revenue surged 36 percent from a year ago to $81.4 billion, the best ever for the tech titan’s fiscal third quarter. “This quarter, our teams built on a period of unmatched innovation by […]
Tesla quarterly profits top $1 bn for 1st time
US electric carmaker Tesla reported its first-ever quarterly profit above $1 billion Monday as it reiterated its 2021 production targets despite supply chain upheaval. Profits surged to $1.1 billion in the quarter ending June 30, up from $104 million in the year-ago period as revenues nearly doubled to $12.0 billion. The fast-growing automaker led by […]
Philips takes profit hit from product safety fault
Dutch electronics giant Philips said Monday sales were up for the second quarter, but that profits took a hit from a recall of faulty sleep and respiratory care equipment. The company, which has diversified into healthcare and in March sold off its domestic appliance business, said sales came in at 4.23 billion euros ($5.0 billion) […]
Swedish Ericsson in $8.3 bn 5G deal with Verizon
Swedish telecommunications group Ericsson unveiled Friday a contract worth $8.3 billion to provide US operator Verizon with equipment for its 5G network, Ericsson’s biggest single contract ever. Ericsson also reported that its second quarter net profit had jumped by 51 percent, but noted a sharp decline in sales in China after rival Huawei was barred […]
Better economy, merger boom boosts US bank earnings
Profits at Goldman Sachs jumped amid a merger boom, while JPMorgan Chase’s results were boosted by the impact of the recovering economy on loan quality, according to results released Tuesday. The financial heavyweights reported soaring second-quarter profits compared with the year-ago period when large banks set aside massive reserves in case clients defaulted amid the coronavirus […]