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LabCorp sees revenues jump from Covance deal, but profits slide

2015-04-28 08:14:57| Biotech - Topix.net

Laboraratory Corp. of American saw its revenues rise during the first quarter thanks largely to its purchase in mid-February of drug development services company Covance . But that boost in revenues didn't translate into stronger profits, with the Burlington-based LabCorp posting net earnings of only $700,000 after more than $100 million in costs related to the Covance deal were factored in.

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Alibaba Q3 revenues jump 54% on mobile expansion

2014-11-04 14:26:00| Telecompaper Headlines

(Telecompaper) Alibaba Group reported third-quarter revenues up 53.7 percent year-on-year to CNY 16.83 billion (USD 2.74 billion). The Chinese e-commerce group reported gross merchandise value and active users up around 10 percent, to respectively CNY 555.67 billion and 202 million. Mobile also showed a growing contribution to results, accounting for CNY 3.72 billion in revenue and 35.8 percent of merchandise value, more than double the year-earlier figures. The number of monthly mobile users rose 15.4 percent compared to Q2 to 217 million. The company's adjusted EBITDA rose 30.6 percent year-on-year to CNY 8.49 billion. Net profit fell 38.6 percent to CNY 3.03 billion, due to an increase in stock option costs after its IPO and higher taxes, as well as costs for the acquisitions UCWeb and AutoNavi and investments in the cloud computing platform. Adjusted EPS rose 9.4 percent to CNY 2.79. Alibaba spent CNY 1.703 billion in the quarter on capital equipment, while free cash flow rose 33.7 percent to CNY 8.94 billion. It finished September with total cash of CNY 109.91 billion.

Tags: mobile jump expansion revenues

LG Q3 revenues jump 7.4% on record smartphone sales

2014-10-29 08:08:00| Telecompaper Headlines

(Telecompaper) LG Electronics has reported third-quarter revenues of KRW 14.92 trillion (approximately USD 14.54 billion), which represents an increase of 7.4 percent year-on-year. Third-quarter operating profit reached KRW 461.3 billion, more than double the figure from the same period a year ago. Net profit jumped to KRW 203 billion from KRW 109 billion a year ago. Earnings reflected a strong performance from LG's mobile business which saw record smartphone sales in the third quarter with sales of 16.8 million units, the company said.

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Baidu sees Q2 revenues jump 58%, net profit up 34%

2014-07-25 08:44:00| Telecompaper Headlines

(Telecompaper) Chinese internet search provider Baidu saw its second-quarter revenues jump by 58.5 percent year-on-year to CNY 11.9 billion. Operating profit increased by 22.5 percent to CNY 3.5 billion. Traffic acquisition costs reached CNY 1.5 billion, accounting for 12.7 percent of revenue from 11.6 a year ago. Net profit was up 34.1 percent year-on-year to CNY 3.5 billion in the second quarter. Adjusted EBITDA (non-GAAP) amounted to CNY 4.494 billion for the second quarter of 2014, representing a 29.3 percent increase from the year-earlier period. For the second quarter, Baidu expects revenues of ranging from CNY 13.4 and CNY 13.7 billion, representing a increase of 50.9 to 55 percent year-on-year.

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