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Luxoft, software and IT solutions developer, following the results of the third quarter, which ended in December, reported about the decline in financial performance. During the earnings period, revenue fell by 2.6% in annual terms to $230 million 400 thousand. Net profit fell to 10 billion 800 million dollars from a similar figure of the previous year to 20 billion 600 million dollars. Adjusted profit amounted to 32 million 600 thousand dollars, a decrease of 18.6%. The EBITDA margin of 14.1% also turned out to be significantly lower than the previous year's figure of 16.9%. Earlier it was reported about the conclusion of the deal for the purchase of Luxoft by DXC Technology for approximately $2 billion. The transaction is expected to be completed in June 2019.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
The Dollar traded lower earlier on Thursday in European markets after new hope of an economic recovery in Europe bolstered sentiment. The Dollar index fell by 0.1% to 954.808 at 3:10 AM ET (0710 GMT), gaining only slightly from the four-month ...
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