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The new chair’s policy leanings, communication style and appetite for risk management will shape expectations for years to come.
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Post Modi-Trump meet, India and the US will work towards a more detailed bilateral agreement for nuclear reactors, after the Civil Liability for Nuclear Damage Act (CLNDA) is amended in the Parliament, senior government officials told Moneycontrol.
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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.
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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.
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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.
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The e-commerce giant's third-quarter revenue forecast, however, fell short of analysts' estimates, signaling effects of a tough economy.
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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.
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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).
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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.
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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.
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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.
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"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.
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German automakers have been struggling with lacklustre demand for EVs, coupled with tough local competition in China, supply bottlenecks and persistently high interest rates.
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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.
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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.
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Nestle now expects sales to grow at least 3%, lower than the roughly 4% it had previously targeted.
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The Apple supplier posted an operating loss of 94 billion won ($67.8 million) for the April-June quarter.
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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.
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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.
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Its comparable operating profit fell to 423 million euros ($462.38 million), from 619 million euros in the same quarter a year earlier.
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Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker and a major Apple and Nvidia supplier, saw April-June net profit rise to T$247.8 billion from T$181.8 billion a year earlier.
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An LSEG SmartEstimate, drawn from 21 analysts, predicted second quarter revenue of T$654.27 billion.
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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.
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Data on Wednesday showed cooling consumer price inflation, although that was offset on Thursday by news that U.S. jobless claims fell in the latest week and by figures showing U.S. import prices increased 0.9% last month.
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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.
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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.
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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.
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The result mark the second straight quarter of profit for SoftBank, which has been long known for both volatile earnings and outsized bets on technology companies.
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Both firms, which combined account for about 69% of China's e-commerce market revenue, according to DBS estimates, have faced increasing competition in recent years from low-cost platforms, such as PDD Holding's Pinduoduo and ByteDance-owned Douyin.
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Last month, the company said first-quarter revenue slid 10% from a year earlier but it has been bullish about 2024.
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The Luxembourg-based company said core profit (EBITDA) was $1.96 billion, higher than the average forecast in a company poll of $1.81 billion.
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CEO Andy Jassy told analysts that for Amazon "there is a big opportunity in front of us" in servicing AI customers.
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Snap shares jumped 29% in early trading on the German market. They rose as much as 25% in after-hours trading in New York on Thursday.
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Shares in Google-parent Alphabet were up over 11% in Frankfurt on Friday, while Microsoft shares rose nearly 5%.
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Businesses have prioritized spending on advanced and speedy artificial intelligence server chips, hurting demand for Intel's central processing units (CPUs), which have been the mainstay chip powering data centers for decades.
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Executives forecast ranges for current quarter cloud revenue that were mostly above Wall Street targets.
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The Google parent is returning capital while spending billions of dollars on data centers to catch up with rivals on generative artificial intelligence. The dividend will be 20 cents per share.
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It expects its 2024 net sales to grow by a high-single to low double-digit percentage with adjusted operating income growing by a low double-digit to mid-teens percentage, Novartis said in a statement.
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Taiwan's Foxconn, the world's largest contract electronics maker and Apple's biggest iPhone assembler, on Friday reported first quarter revenue fell 9.6% year-on-year, but predicted second quarter revenue would rise year-on-year.
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The world's largest memory chip and TV maker estimated its operating profit rose to a better-than-expected 6.6 trillion won ($4.89 billion) in the quarter ended March 31. That was up 931% from 640 billion won a year earlier, the South Korean firm said in a short preliminary earnings statement.
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Operating profit for the world's biggest maker of memory chips and TVs likely rose to 5.7 trillion won ($4.24 billion) in the quarter ended March 31, according to the average of an LSEG SmartEstimate from 27 analysts, weighted toward those who are more consistently accurate.
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The company reported an adjusted net profit of 3 cents per share for the quarter ended Feb. 29, compared with analysts' average estimate of a loss of 3 cents, according to LSEG data.
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The impact of strikes and a drop in logistics profits will lead to a higher expected operating loss in the first quarter than in earlier years, the German airline said, offsetting strong post-COVID travel demand.
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EBay's board of directors also authorized an additional $2 billion share repurchase program.
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Zoom also authorized a stock buyback of up to $1.5 billion of its outstanding Class A common stock.
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VinFast's net losses in the final quarter of 2023 reached $650.1 million, also 1.3% higher than the same period of 2022.
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Nvidia Corp's net income for the fourth quarter ended January 28, 2024 grew by 769 percent on-year and 33 percent sequentially to $12.3 billion, driven by increasing demand for artificial intelligence worldwide.
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Revenue should increase about 4% in 2024 on an organic basis after gaining 7.2% last year, Nestle said Thursday. The company also expects a 6% to 10% gain in underlying earnings per share.
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While EPAM expects revenue to decline in January-March, Capgemini projected a slower revenue growth in 2024 vis-a-vis 2023
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The firm, which offers consulting, digital, technical and engineering services, expects its revenue to grow between 0% and 3% at constant currency this year, compared with 4.4% growth it reported for 2023.
