International Results

DBS' results rounded up a strong second-quarter earnings season for Singapore banks, as more inflows and trading by wealthy clients ahead of anticipated rate cuts boost their wealth businesses.

Airbnb forecasts lower third-quarter revenue as economic worries slow demand

Domestic travel in the United States has been pressured since the start of the year as more Americans have grown cautious about travel spending on worries about the health of the economy.

Saudi Aramco Q2 profit dips 3% as output stays low

The decrease of 3.4 percent "mainly reflects the impact of lower crude oil volumes sold and weakening refining margins", the company said in a statement posted to the Saudi stock exchange.

ArcelorMittal June quarter net income drops 73%

The company had posted a net income of USD 1,860 million in the corresponding period of the previous fiscal. The net income is attributable to equity holders of the parent company.

EBay beats quarterly results estimates on steady demand for refurbished goods

The e-commerce giant's third-quarter revenue forecast, however, fell short of analysts' estimates, signaling effects of a tough economy.

Facebook parent Meta sees strong global ad sales while keeping AI costs in check

The Facebook and Instagram parent said it anticipates third-quarter revenue in the range of $38.5 billion to $41 billion, the midpoint of which is higher than analysts' estimates of $39.1 billion, according to LSEG data.

Panasonic's battery unit Q1 operating profit hurt by decreasing sales

Operating income for the key segment, which makes batteries for Tesla and other automakers, posted a 27% year-on-year decline to 21.6 billion yen ($141.97 million).

HSBC records $21.6 billion pre-tax profit in first half 2024

"After delivering record profits in 2023, we had another strong profit performance in the first half of 2024, which is further evidence that our strategy is working," said Noel Quinn, the group's outgoing chief executive.

Starbucks quarterly revenue falls on weak traffic in US and China

Narasimhan said consumers in many markets have gotten more cautious with their spending and are staying home. Starbucks' comments mirrored those at McDonald’s, which said earlier this week that its same-store sales fell 1% in the April-June period.

AMD raises forecast for AI chip revenue and sees supplies remaining tight

The AI chips designed by AMD are largely bought by cloud computing giants. Industry insiders and Wall Street view AMD's line of AI chips as one of the few potentially viable competitors to Nvidia, which dominates the market. Shares of Nvidia rose 4.7% following the AMD report.

Pinterest forecasts downbeat revenue as competition grows; shares slump

The company, whose shares shed about $3 billion in value, competes with the likes of TikTok and Meta Platforms-owned Facebook and Instagram - the preferred platforms for advertisers because of their larger user base and higher engagement for targeted ads.

Samsung flags strong AI demand as second-quarter profit soars on higher chip prices

"In the second half of 2024, AI servers are expected to take up a larger portion of the (memory) market as major cloud service providers and enterprises expand their AI investments," Samsung said in a statement.

Under pressure in China, Mercedes trims profit outlook

German automakers have been struggling with lacklustre demand for EVs, coupled with tough local competition in China, supply bottlenecks and persistently high interest rates.

Hyundai profit tops estimates on robust hybrid vehicle sales

Operating profit for the three months ended June was 4.3 trillion won ($3 billion), compared with the 4.2 trillion won median estimate compiled by Bloomberg.

Unilever shares rise on volume growth, higher profitability

The Anglo-Dutch consumer group’s underlying operating margin was almost 20% in the first half, compared with around 18% expected by analysts. Volume growth also ramped up as some shoppers started buying more branded goods again as inflationary pressures eased.

Nestle cuts full year sales guidance as price rises ease off

Nestle now expects sales to grow at least 3%, lower than the roughly 4% it had previously targeted.

LG Display reports Q2 loss on weak demand for panels

The Apple supplier posted an operating loss of 94 billion won ($67.8 million) for the April-June quarter.

Renault posts 1.9% rise in first-half sales volume

The company sold 1,154,700 vehicles globally, compared to 1,133,478 units last year, with almost three-quarters of that volume going to Europe.

Volvo Cars beats Q2 expectations, lowers 2024 retail sales outlook

The stakes are high for automakers and suppliers who have for years been betting on rising demand for electric vehicles, as the industry faces slowing sales while investment in capacity and technology development outpace demand.

Nokia Q2 profit falls 32% on weak demand for telecom gear

Its comparable operating profit fell to 423 million euros ($462.38 million), from 619 million euros in the same quarter a year earlier.

Samsung flags better-than-expected rise in second-quarter profit as chip prices jump

The world's largest memory chip, smartphone and TV maker estimated its operating profit rose to 10.4 trillion won ($7.54 billion) in the quarter ended June 30, from 670 billion won a year earlier.

Oracle expects double-digit revenue growth for fiscal 2025 on strong AI demand

The company also announced a partnership with ChatGPT-maker OpenAI and Google Cloud to extend its own cloud infrastructure to customers.

Grab raises annual profit view after strong Q1 revenue growth

A significant restructuring at Grab, which included reducing 1,000 jobs and slashing some technology costs in 2023, is helping the company push ahead in its goal to deliver positive free cash flow this year.

Sony sees higher profit from image sensors, to conduct stock split

Sony is a major supplier of image sensors for smartphones and that business is expected to book a 40% rise in operating profit on higher sales and lower costs.

Long-haul carrier Emirates sees $4.7 billion profit in 2023 as airline takes flight after pandemic

Emirates, owned by Dubai's government, announced revenues of USD 33 billion, compared to USD 29.3 billion the year before. Profit the year prior had been USD 2.9 billion.