Tag: profit

BUSINESS

Nokia Sees Decline In Sales And Profit

Nokia recently reported a double-digit decline in sales and a fall in profit in the last three months of 2023, with the wireless and fixed-network equipment maker saying operators are cutting back on investments into 5G and other technology due to economic uncertainty. “In 2023 we saw a meaningful shift in customer behavior impacting our industry driven by the macro-economic […]

BUSINESS

Spotify Set To Cut Workforce

According to press reports, Spotify is set to cut 6% of its workforce. This comes against the background of tech companies ‘great layoffs.’ Spotify, the Swedish music-streaming company, has argued that the company needs to improve efficiency, thus the need for a cut of about 10,000 employees. The company’s chief, Daniel Ek, reportedly said his investment goals were initially too […]

BUSINESS

ExxonMobil Sets Profit Record

America’s largest oil company ExxonMobil set a profit record for the second-straight quarter as oil and gas prices remained high. No. 2 US oil company Chevron also posted much-better-than-expected results. ExxonMobil earned $18.7 billion, excluding special items, up 6% from the second quarter results, which had been the record, and up 177% from a year ago. Earnings per share of […]

BUSINESS

BP Sees Record Quarterly Profit

BP sees record-high quarterly profit after oil and gas prices ratchet up. The energy giant saw underlying profits hit 8 point 45 billion dollars between April and June – more than triple the amount it made in the same period last year. The oil company recorded its highest profit for the first time in 14 years. This comes against the […]

BUSINESS

BP Sees Mammoth Increase In Profit

BP plc, the British oil and gas company has seen its profits for the first quarter of this year more than doubled after oil and gas prices soared. The energy company reported an underlying profit of $6.2 billion compared to $2.6 billion in the same period last year. BP said the increase was ahead of expectations and due in part […]

BUSINESS

Shell Sees Record High Quarterly Profits

Energy company Shell has reported its highest ever quarterly profits as oil and gas prices surge around the world. Shell made $9.13 billion in the first three months of the year, nearly triple the $2.2 billion profit it announced for the same period last year. But the firm said pulling out of Russian oil and gas due to the Ukraine […]