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The world's largest express delivery service, United States company United Parcel Service, following the results of the first quarter, reported the decline in net profit due to the costs of business reorganization, as well as due to bad weather conditions in the United States. The figure for the first quarter of last year fell by 17.4% to 1 billion 111 million dollars. Calculated per share, the profit amounted to 1 dollar 28 cents, not reaching the experts' forecast of 1 dollar 41 cents per share. Revenue for the quarter was at 17 billion 160 million dollars, rising by 0.3% over the year. Economists had predicted a figure of 17 billion 780 million dollars. The parcel delivery service in the United States brought the company $10.480 billion in revenue, which grew by 2.5% over the year. Moreover, its operating profit declined by 12%. International business recorded revenue growth of 1.2% to 3 billion 460 million 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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