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Alphabet lifts revenues in Q1 but profit hit by EU fine, higher R&D

2019-04-30 09:17:00| Telecompaper Headlines

(Telecompaper) Alphabet, the parent company of Google, said revenues for first quarter lifted to USD 36.339 billion from 31.146 billion the year before, an increase of 17 percent that was a bit slower than previous quarters. Profit was hit by the EUR 1.5 billion fine from the European Commission for anti-competitive practices with its AdSense for Search product. This meant that the operating profit fell to USD 6.608 billion from 7.633 billion, while the net profit sank to USD 6.657 billion from 9.401 billion, with diluted earnings per share at USD 9.50 from 13.33. Without the fine, the operating profit would have reached USD 8.305 billion and the net profit USD 8.339 billion. Finally, the operating margin slipped to 18 percent from 25 percent.

Tags: hit fine higher rd

Bakken Producer Continental Resources Posts 15% Drop In Profit

2019-04-29 22:40:19| OGI

Top Bakken producer Continental Resources on April 29 reported a 15% fall in adjusted quarterly profit as weaker crude prices muted higher production.

Tags: resources posts drop profit

ZTE returns to profit in Q1, revenues fall 19%

2019-04-29 14:15:00| Telecompaper Headlines

(Telecompaper) ZTE confirmed a return to net profit in the first quarter, at CNY 863 million compared to a loss of CNY 5.4 billion a year earlier. The result was at the low end of its outlook of CNY 0.8-1.2 billion, and ZTE said it expects the result to reach a profit of CNY 1.2-1.8 billion over the first half of 2019, versus a loss of CNY 7.8 billion a year earlier.

Tags: fall returns profit revenues

Chevron Profit Down On Lower Oil Prices; Anadarko Deal In Focus

2019-04-26 16:25:45| OGI

CEO Mike Wirth signaled that Chevron considers itself on track to make a deal for Anadarko Petroleum despite the takeover duel started this week by Occidental Petroleum.

Tags: prices lower focus deal