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Earnings News Headlines - Yahoo! News

Get the latest earnings news headlines from Yahoo! News. Find breaking earnings news, including analysis and opinion on top earnings stories, photos and more.

South Africa's Naspers posts 18 pct rise in annual profit
Fri, 24 Jun 2016 13:53:45 -0400 - South African ecommerce and media group Naspers reported an 18 percent rise in full-year profit on Friday, lifted by growth in its Internet business, which includes a stake in China's Tencent Holdings. Naspers, which owns 34 percent of the Chinese social network and online entertainment firm, said fully diluted core headline earnings per share (EPS) rose to 292 US cents for the year ended March, from 249 cents a year earlier. Headline EPS is the main profit measure in South Africa and strips out certain one-off items.
Engie CEO personally regrets Brexit, confirms commitment to UK
Fri, 24 Jun 2016 03:53:37 -0400 - Engie chief executive officer Isabelle Kocher said she regretted the British people's decision to leave the European Union but that the French gas and power group remained committed to investing in the UK. Kocher said the Brexit vote does not affect the utility's view of Britain - where it employs 17,000 people and which contributes three percent of Engie's global core earnings - or indeed its future capacity for UK-based development. "However, my personal reflection is one of regret at this decision, when one considers the mutually beneficial contributions made between the UK and the EU over the last 43 years," Kocher told Reuters in a written statement.
Pensions hit FedEx, may weigh on fiscal 2017 results
Tue, 21 Jun 2016 18:42:07 -0400 -

A Federal Express truck on delivery is pictured in downtown Los AngelesPackage delivery company FedEx Corp on Tuesday reported a quarterly loss due to mark-to-market pension adjustments and expenses related to acquiring Dutch package delivery company TNT, and said it did not know how those two factors would affect its earnings for the coming fiscal year. FedEx shares fell more than 1 percent after the news. Excluding one-off charges, FedEx reported a profit that beat market expectations.

Fed warns U.S. equity valuations 'well above' median
Tue, 21 Jun 2016 17:09:49 -0400 -

The Federal Reserve building in WashingtonBy Rodrigo Campos NEW YORK (Reuters) - The Federal Reserve on Tuesday delivered its starkest warning yet under Chair Janet Yellen that by its assessment U.S. stocks are pricey. "Forward price-to-earnings ratios for equities have increased to a level well above their median of the past three decades," the Fed's twice-annual Monetary Policy Report, the U.S. central bank concluded. "All asset prices are high and they’re high because of the Fed's activity," said Jack DeGan, chief investment officer at Harbor Advisory in Portsmouth, New Hampshire.

Axa feels pain from low interest rates
Tue, 21 Jun 2016 05:29:36 -0400 -

AXA plans to cut costs by 2.1 billion euros before taxes by 2020France's biggest insurer Axa has lowered its earnings target for the next few years and is seeking to cut costs as low interest rates take their toll on the industry's profits. Axa, which is to unveil its new strategic plan Tuesday, said it now eyed an average annual increase in underlying earnings per share of between 3 and 7 percent for 2016 to 2020, compared to 5 to 10 percent in the previous five years. The company said its new target range "reflects cautious assumptions for interest rates".

South Africa's Amplats warns H1 profit to fall at least 20 pct
Tue, 21 Jun 2016 04:16:12 -0400 -

A cow is seen near the AngloAmerican sign board outside the Mogalakwena platinum mine in MokopaneAnglo American Platinum (Amplats) expects its half-year profit to fall by at least 20 percent due to weaker metal prices, the South African miner said on Tuesday. Platinum prices have been hurt by growth concerns in China and oversupply worries which have forced firms to abandon projects and sell mines. Amplats, which produces around 40 percent of the world's platinum group metals, said it would make a further announcement once it had determined a likely range for its headline earnings per share.

Canada's OpenText to buy some HP Inc assets for $315 million
Mon, 20 Jun 2016 14:39:59 -0400 -

OpenText Corporation executive chairman Jenkins speaks during an event upon the release of his report on military procurement in Ottawa(Reuters) - Canadian business software maker OpenText Corp said it would buy HP Inc's customer management software business for $315 million. The business is expected to generate between $110 million and $125 million of annualized revenue and immediately add to earnings, OpenText said on Monday. The deal comes two months after Open Text bought a set of content management software tools from HP for about $170 million.

Japan May exports fall on earthquake disruption, emerging market slowdown
Sun, 19 Jun 2016 20:59:09 -0400 -

Newly manufactured cars of the automobile maker Honda await export at port in YokohamaJapan's exports fell at the fastest pace in four months in May on supply chain disruptions from the Kumamoto earthquake and slow growth in emerging markets - foreshadowing gloomy trade prospects for the current quarter. Exports declined 11.3 percent year-on-year in May, Ministry of Finance data showed on Monday, versus the median estimate for a 10.4 percent annual fall and a 10.1 percent annual drop in April. Exports are likely to expand in coming months as overseas demand shows signs of stabilizing, but Prime Minister Shinzo Abe remains under pressure to support growth as further gains in the yen threaten exports and corporate earnings.

TSX rises as commodities rally; ends 1 percent lower for week
Fri, 17 Jun 2016 17:07:56 -0400 -

A man walks past an old Toronto Stock Exchange sign in TorontoBy Fergal Smith TORONTO (Reuters) - Canada's main stock index edged higher on Friday as commodities rallied and global worries about Britain voting to leave the European Union next week abated. Reasonable earnings, economic recovery and low interest rates are supportive of stocks, but lack of clarity about the outcome of the referendum and related volatility may restrain investors near-term, said Irwin Michael, portfolio manager at ABC Funds. Canada's currency will weaken and the chances its central bank cuts interest rates would jump if Britain votes next week to leave the European Union, strategists warn, noting the result could hit global growth and spell bad news for commodity-exporting countries.

Viacom cuts outlook, says boardroom fight hurts business
Fri, 17 Jun 2016 16:02:21 -0400 -

Viacom is a $40 billion entertainment business, which controls hit names like MTV, Nickelodeon, and Comedy Central, as well as Hollywood giant Paramount Pictures Viacom cuts its earnings outlook Friday, blaming in part the high-stakes battle over control of the entertainment giant. One day after the daughter of Viacom's elderly main shareholder Sumner Redstone moved to oust key members of the board of directors, the company said it now expects earnings per share in the current quarter to come in at just $1.00-$1.05, far shy of the average analyst estimate of $1.38. Viacom said the company suffered in the quarter from poor box-office sales of its "Teenage Mutant Ninja Turtles: Out of the Shadows" film.

Siemens sees most of synergies from Gamesa deal on cost side
Fri, 17 Jun 2016 11:39:56 -0400 - Siemens said it expected around 70 percent of synergies from its wind power deal with Gamesa to come from cost savings, while the rest will be derived from revenue synergies. Siemens and Spain's Gamesa agreed earlier on Friday to create the world's biggest builder of windfarms, with the German industrial group paying 1 billion euros ($1.1 billion) for a majority stake in the combined business. Asked whether the cost synergies would result from job cuts, Siemens Chief Executive Joe Kaeser said on a conference call on Friday: "This is not so much about jobs, but it is that there are two companies that were very active in onshore... we only need R&D (research and development) for the next generation of onshore once, not twice." Siemens and Gamesa expect cost savings and benefits from the new business to be worth 230 million euros of earnings before interest and taxes (EBIT) within four years, more than half of which should come into effect after two years already.
Brexit to hurt large U.S. banks' 2016 earnings by 1-6 percent: KBW
Thu, 16 Jun 2016 14:02:35 -0400 -

Union flags and the Big Ben clocktower cover notebooks are seen on sale in London, Britain(Reuters) - Earnings of large U.S. banks would be hit by 1-6 percent this year if Britons vote in favor of leaving the European Union next week, according to brokerage Keefe, Bruyette & Woods (KBW).

Naspers leads as South African stocks snap losses, rand steadies
Wed, 15 Jun 2016 13:18:45 -0400 -

A worker sweeps in front of the Johannesburg Stock Exchange (JSE)South African stocks snapped a five-day losing streak on Wednesday, partly due to investors chasing bargains, with Naspers among the top gainers after the media and e-commerce firm flagged higher earnings. The rand recouped some of the previous day's heavy losses against the dollar, although traders did not anticipate any substantial gains in coming sessions, with recent data pointing to lethargic output in Africa's most developed economy. "There is also a little bit of bargain hunting creeping in as well." Naspers, South Africa's biggest company by market value, gained 2.07 percent to 2,185.36 rand after the company said full-year profit likely rose as much as 20 percent.

Algeria plans to launch Islamic finance, push banking reform
Tue, 14 Jun 2016 13:52:41 -0400 - By Hamid Ould Ahmed ALGIERS (Reuters) - Algeria is preparing to launch Islamic financial services as the OPEC member seeks new ways to raise money after a sharp fall in energy earnings, a senior financial official told Reuters in an interview. Boualem Djebbar, head of the state-run Banks and Financial Institutions Association, said plans to offer Islamic finance products were part of wider reforms aimed at modernising the underdeveloped banking sector. Algeria's outdated financial system has been a barrier to investment as the government seeks to diversify its economy away from oil and gas, which account for 60 percent of the state budget and 95 percent of the country's revenue from exports.
DR Congo slashes growth forecast for 2016 to 5.3 pct: cenbank
Tue, 14 Jun 2016 03:23:53 -0400 -

Workers at Tenke Fungurume, a copper mine in the southern Congolese province of Katanga, check bundles of copper cathode sheets ready to be loaded and sent out to buyersThe central bank of the Democratic Republic of Congo has slashed its GDP growth forecast for 2016 to 5.3 percent, compared with 6.9 percent last year, as a slump in commodity prices batters its mineral-dependent economy. Congo has suffered from falling prices in its key mineral exports, including copper, cobalt, tin and diamonds. Congo, Africa's biggest copper producer, relies heavily on raw materials, which account for 98 percent of export earnings.

Moody's reviews Microsoft credit rating for cut after LinkedIn deal
Mon, 13 Jun 2016 23:15:38 -0400 - (Reuters) - Rating agency Moody's placed Microsoft Corp's 'AAA' credit rating under review for downgrade following the software giant's deal to buy LinkedIn Corp for $26.2 billion, citing concerns that it would be funded through new debt. Funding the deal entirely with debt will increase Microsoft's gross debt to EBITDA (earnings before interest, taxes, depreciation and amortization) ratio, that could pressure its credit rating, Moody's said in a statement on Monday. Microsoft, which will buy LinkedIn in its biggest-ever deal, said it would issue new debt to fund the acquisition.
New Algerian energy and finance ministers named in reshuffle
Sun, 12 Jun 2016 03:49:20 -0400 -

President Abdelaziz Bouteflika looks on during a swearing-in ceremony in AlgiersBy Hamid Ould Ahmed ALGIERS (Reuters) - Algerian President Abdelaziz Bouteflika named new energy and finance ministers on Saturday in a cabinet reshuffle, as the OPEC member tries to cope with a sharp fall in oil and gas earnings that have placed increasing pressure on its finances. Nouredine Bouterfa, the head of state power firm Sonelgaz, was named as the new energy minister, replacing Salah Khebri, while junior budget minister Hadji Baba Ammi was appointed to replace Abderrahmane Benkhalfa at the finance ministry, a statement carried by state media said. No reason was give for the changes, but the reshuffle comes as Algeria struggles to revive its economy and boost oil and gas production, with divergent views over how hard to push for foreign investment and for domestic economic reform.

Axel Springer buys U.S. eMarketer for $242 million
Fri, 10 Jun 2016 04:29:24 -0400 -

Logo of German publisher Axel Springer is seen outside its headquarters in BerlinFRANKFURT (Reuters) - Axel Springer said on Friday it had agreed to buy 93 percent of U.S. digital market data analyst eMarketer for about $242 million, continuing its move into digital media. The rest of the shares will remain with the company's founders and management. The company had earnings before interest, tax, depreciation and amortisation (EBITDA) of $13.5 million last year on $45.5 million in sales. (Reporting by Harro ten Wolde; Editing by Tina Bellon)

Thai AIS to spend about $200 million on broadband network in 2016
Thu, 09 Jun 2016 23:50:16 -0400 -

The logo of the Advanced Info Service Public Company Limited is pictured at an exhibition hall in BangkokThailand's largest mobile operator Advanced Info Service Pcl (AIS) said on Friday it plans to invest 7 billion baht ($198.53 million) this year to expand its fixed broadband network to serve 6.5 million households by the end of 2016. AIS, 23 percent owned by Singapore Telecommunications Ltd , aims to be one of the leading high-speed broadband internet providers over the next three to five years, Siraphop Paphatthananan, investor relations' official at AIS, said at a quarterly earnings briefing. Thailand's broadband penetration is expected to rise to 50 percent of households by 2020 from 30 percent in 2015 when 20.6 million households connected to fixed high-speed internet, Siraphop said.

Ski-Doo snowmobile maker BRP's profit misses estimates
Thu, 09 Jun 2016 06:53:50 -0400 -

FILE PHOTO OF SERBIAN SPECIAL POLICE ON A BOMBARDIER SKI DOO.(Reuters) - Canada's BRP Inc reported a lower-than-expected quarterly profit as the company offered aggressive promotions to stimulate demand for its snowmobiles amid poor snowfall. BRP, which makes Ski-Doo snowmobiles and Sea-Doo watercraft, said gross margin for the first quarter ended April 30 slipped to 20.9 percent from 23.7 percent a year earlier. However, the company raised its adjusted earnings forecast for the fiscal year as it expects to launch new products in the coming months. BRP now expects earnings of C$1.79-C$1.89 per share for the year ending January 2017, compared with C$1. ...

With men gone, women shake up farming in rural Nepal
Thu, 09 Jun 2016 05:28:44 -0400 - By Zoe Tabary PHULBARI, Nepal (Thomson Reuters Foundation) - Ratna Chaudhary delicately lifts the hem of her pink and green dress with one hand, while using the other to scoop up a batch of cabbages in her garden in the village of Phulbari, a dozen kilometers from the Nepal-India border. "Since my husband works in India now, I'm responsible for harvesting all our crops," said Chaudhary, holding two cabbages to her face before throwing the yellower one to the ground. It pays more than the daily jobs he used to do in his hometown, and he returns to Phulbari every four months to see his family and hand over his earnings.
Smooth success: Remy rides on cognac sales
Thu, 09 Jun 2016 05:00:25 -0400 -

Cognac makers have had a rough ride the past few years after Chinese authorities cracked down on expensive gifts to officials, which had helped drive up sales for luxury itemsFrench spirits group Remy Cointreau said Thursday that record cognac sales and a shift upmarket had helped it increase net profit in its 2015-2016 fiscal year to 102.4 million euros ($116.6 million). "Exceptional spirits" of more than $50 per bottle and record sales of its Remy Martin cognac helped push sales up 8.9 percent to 1.05 billion euros and operating profit up by 14.7 percent to 178.4 million. Despite the uncertain economic environment "the Group remains confident in its strategy of accelerating its move upmarket, supported by product creativity, targeted increases in communications investments, and optimisation of its distribution network," Chief Financial Officer Luca Marotta said in a presentation accompanying the earnings statement.

Canada oil producer Baytex restarts idled wells as prices rise: source
Wed, 08 Jun 2016 18:58:40 -0400 - By Nia Williams CALGARY, Alberta (Reuters) - Baytex Energy Corp has restarted nearly all the heavy crude output it shut last year, encouraged by the months-long rally in oil prices, a source familiar with the matter said on Wednesday. It is among the first signs of a North American producer restarting wells that were deemed uneconomic during the deepest part of the global crude price slump. The medium-sized producer did not immediately respond to a request for comment, but on a May 3 earnings call Chief Executive Officer James Bowzer said if prices held around $45 a barrel he expected to have most production back online by July.
Verizon strike seen hitting second-quarter earnings: CFO
Wed, 08 Jun 2016 12:30:56 -0400 -

People demonstrate outside a Verizon wireless store during a strike in New YorkThe seven-week strike by Verizon Communications Inc's wireline workers will hurt the company's second-quarter earnings and potentially cost up to 7 cents per share, its chief financial officer said. The company "will see about a 5 cent to 7 cent impact to the bottom line for the quarter," CFO Fran Shammo said at the Bank of America Merrill Lynch global telecom and media conference in London on Tuesday. The remarks were the first Verizon has made to quantify the strike's cost.

South Africa's rand, bonds rally after Fitch affirms rating; stocks slip
Wed, 08 Jun 2016 12:26:27 -0400 -

A street trader counts out change for a customer in DurbanSouth Africa's rand rose its firmest in five weeks on Wednesday and government bonds also gained after ratings agency Fitch affirmed the country's investment grade credit status. Stocks fell led by insurer Sanlam, the biggest loser among bluechips, after it flagged lower earnings for the four months to end-April due to slow growth in its markets. The rand has gained 5.5 percent since Friday's decision by S&P's to maintain South Africa's investment grade BBB- rating.

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