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American company Kraft Heinz, one of the world's largest food producers, reported a second-quarter drop in net profit by 34.8%, or 1.5 times, year-on-year to $756 million. Adjusted earnings were $1 per share, while analysts had predicted 92 cents per share. Total revenue increased by 0.8% to 6 billion 690 million dollars. Experts had expected the figure at 6 billion 580 million dollars. The reason for the decline in profit was the weak performance in North America. Sales in the US fell by 1.9%. Since early 2018, the company's capitalization has decreased by 19% and amounted to 72.5 billion dollars.
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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