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Citigroup, one of the largest US banks, reported net profit growth of 7% in the second quarter compared to the same period last year to $4.799 billion. The bank recorded adjusted earnings of $1.94 per share, while experts had predicted $1.81 per share. Revenue amounted to 18.758 billion dollars, an increase of 2% over the year. According to economists, the figure was expected at $18.5 billion. Net interest income reached $11.95 billion but turned out to be lower than economists' forecast of 12.03 billion. The main factors contributing to the growth of quarterly indicators were a reduction in bank expenses and a reduction in the tax rate. Thanks to the payment of dividends and the repurchase of 54 million of its own shares, the bank returned to shareholders 4.6 billion dollars during the earnings period.
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
American multinational automaker Ford Motor Co. (F.N) announced on Thursday that its vehicle sales increased by 3% from April to June in mainland China. It would be the first time that the company's first quarterly sales rose in the world's ...
The National Bank of Canada and Scotiabank reported acceptable second-quarter results on Tuesday. Both banks surpassed analysts’ estimates even though their respective profits suffered from loan-loss provisions due to the novel coronavirus ...
Japan’s Nintendo Co Ltd is posed to rally further, sustaining its decade-high earnings streak. The positive record is expected next week as sales of the recently-released gaming console Switch surged amid quarantine restrictions. Nintendo’s ...
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