Earnings

Volvo Cars experienced a significant increase in operating profit for the second quarter, leading to a surge in its shares. The core operating profit for the quarter reached 8.2 billion Swedish kronor, marking a 28% increase from the previous year. This performance was historic for the company, with the highest-ever figure recorded for an individual
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Taiwan Semiconductor Manufacturing Company (TSMC) exceeded revenue and profit expectations for the second quarter of the year. The company reported a revenue of 673.51 billion New Taiwan dollars (approximately $20.82 billion), surpassing the NT$657.58 billion expected by LSEG consensus estimates. Additionally, TSMC’s net income stood at NT$247.85 billion, outperforming the NT$238.8 billion LSEG SmartEstimate. This
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Nokia, a Finnish telecom company, experienced a significant setback in its second-quarter operating profit. The company reported a 32% drop in operating profit, primarily attributed to weak demand for its 5G equipment. This led to a sharp decline in the firm’s Helsinki-listed stock, with an 8% decrease shortly after the market opened in London. The
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ASML, the Dutch semiconductor manufacturing equipment firm, has reported second-quarter earnings and sales that exceeded forecasts. The company’s net sales of 6.24 billion euros ($6.8 billion) surpassed the expected 6.03 billion euros, while net profit reached 1.58 billion euros compared to the anticipated 1.43 billion euros. Despite a 9.5% year-on-year decrease in net sales and
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Bank of America reported second-quarter revenue and profit that exceeded expectations. The earnings per share came in at 83 cents, surpassing the 80 cents estimated by LSEG. The revenue also outperformed estimates, reaching $25.54 billion compared to the $25.22 billion expected figure. However, the profit did experience a 6.9% decline from the previous year, landing
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Burberry, the iconic British luxury brand, faced a significant setback as shares plummeted by over 15% in early trading on Monday. The company issued a profit warning, announcing the possibility of an operating loss for the first half of the year and a full-year operating profit below expectations. Joshua Schulman, a former executive of Michael
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On Friday, U.S. stocks saw a rebound after the S&P 500 recovered from its worst trading session in months. The market had been on a seven-day winning streak until Thursday when investors shifted their focus from Big Tech to smaller-cap stocks. This rotation caused many Club holdings, including Nvidia, to experience a 5% drop. However,
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Citigroup recently released its second-quarter results, which exceeded expectations in terms of both profit and revenue. The company reported earnings of $1.52 a share, surpassing the anticipated $1.39 a share. Additionally, Citigroup’s revenue totaled $20.14 billion, slightly higher than the expected $20.07 billion. The bank’s net income rose by 10% compared to the previous year,
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