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The American company Caterpillar, the world's largest producer of road construction and mining equipment, said that in the second quarter, its net profit increased 2.1-fold year-on-year to $1 billion 710 million. Adjusted earnings increased 2-fold and reached 2 dollars 97 cents per share, while analysts had predicted 2 dollars 75 cents per share. Quarterly revenue increased by 24% to $14 billion and coincided with forecasts of analysts. Revenues in the transport equipment and equipment segment for the energy sector increased by 20%, from the supply of construction equipment - by 24%. The company expects the growth of expenses in the second half of the year by 100-200 million dollars due to imposed duties on imports of various products in the US.
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 ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
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, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
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