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American company Netflix, which supplies movies and TV series based on streaming media, reported that in the first quarter of this year, the number of new users of the service grew by a record 9 million 600 thousand paid subscribers. The indicator significantly exceeded the forecast of analysts who had expected an increase in the number of subscribers by 8 million 60 thousand people. Its net profit was 344 million dollars with revenue of 4.5 billion dollars. Earnings per share rose to 76 cents from 64 cents per share a year earlier. The company also announced that, according to its forecast, earnings in the second quarter would be 55 cents per share, which is 85 cents lower than the same period last year. The forecast disappointed analysts, who had expected 99 cents per share. Against this background, Netflix shares lost 5% on Wednesday.
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 ...
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
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, ...
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