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Amazon revenues jump in Q1 but profit takes a backseat on covid-19-related expenses
2020-05-01 09:26:00| Telecompaper Headlines
(Telecompaper) Amazon reported revenues up 26 percent from the year before in the first quarter to USD 75.5 billion, beating expectations, but profit came under pressure from higher costs amid the coronavirus pandemic, with the operating profit down to USD 4.0 billion from 4.4 billion and the net profit off at USD 2.5 billion or USD 5.01 per diluted share, from 3.6 billion and 7.09 per share. Operating expenses jumped to USD 71.463 billion from 55.280 billion. Looking ahead, CEO Jeff Bezos told shareholders to "take a seat, because we are not thinking small." Amazon plans to plow its USD 4 billion operating profit back into the company, on covid-19-related expenses, on getting products to customers and on keeping employees safe.
Reliance Jio nearly triples quarterly net profit, sales up 27%
2020-05-01 08:55:00| Telecompaper Headlines
(Telecompaper) Indian operator Reliance Jio Infocomm reported a near tripling in its net profit for the fiscal fourth quarter to March, to INR 23.3 billion from INR 8.4 billion a year earlier. The customer base rose by 26.3 percent year-on-year to 387.5 million, and Jio added a net 17.5 million new customers in Q4 alone.
Sainsbury's warns of GBP500m profit hit as clothing sales slump
2020-04-30 12:37:00| Daily apparel & textile news and comment - from just-style.com
UK supermarket retailer Sainsbury's has warned of a GBP500m (US$624m) profit hit for its next financial year as significant costs related to safety measures amid the Covid-19 pandemic and lower clothing sales take their toll.
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Adidas in 97% profit slide as store closures weigh on Q1
2020-04-27 15:09:00| Daily apparel & textile news and comment - from just-style.com
Adidas has booked a 97% slide in profits as the impact of coronavirus weighed heavily on its first-quarter results.
ZTE reports 20% better underlying profit in Q1
2020-04-24 17:34:00| Telecompaper Headlines
(Telecompaper) ZTE said operating revenues for the first quarter slipped to CNY 21.48 billion from 22.02 billion the year before, and that the net profit declined to CNY 780 million from 863 million year-on-year. The net profit after extraordinary items however rose 20.5 percent to CNY 160 million. Basic earnings per share went to CNY 0.18.
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