7h ago
Fast Retailing posts record annual profit of 542.52 billion yen, forecasts further gains
Fast Retailing, the owner of Uniqlo, reported record results for the fiscal year ended August, with net profit rising 25% to 5425.2 billion yen and revenue up 17% to 3.963 trillion yen. North America contributed 9.2% of total sales and Europe accounted for 13%. The company forecast revenue growth of 12% to 4.45 trillion yen in the new fiscal year, with net profit expected to rise 3.2% to 5600 billion yen.
7h ago
10h ago
Samsung forecasts Q3 operating profit of 107.4 trillion won ($80.18 billion), a first above 100 trillion won
Samsung Electronics said it expects third-quarter operating profit of about 107.4 trillion won ($80.18 billion), nearly nine times higher than a year earlier. The figure would mark its first quarterly operating profit above 100 trillion won and surpass the prior record of about 89 trillion won set in the second quarter. The company continues to benefit from strong demand for memory chips tied to the artificial-intelligence boom.
10h ago
15h ago
Samsung Electronics projects nearly ninefold Q3 operating profit surge to 107.4 trillion won on AI memory demand
Samsung Electronics released preliminary third-quarter results, projecting operating profit to surge nearly ninefold year on year to 107.4 trillion won ($80.17 billion), beating analysts’ expectations. The jump was driven by stronger profitability in its memory business as demand for AI chips climbed. The company has posted record operating profit for four consecutive quarters.
15h ago
1d ago
Indian stocks set to open lower as RBI rate hike of 25 basis points looms
Indian shares are expected to open lower on Wednesday, with markets widely pricing in a 25-basis-point rate hike by the Reserve Bank of India to counter persistent inflation pressures tied to the war in the Middle East. Since the RBI paused rate increases on Aug. 5, the Nifty 50 has fallen 7.5%, weighed by higher oil prices, rising U.S. bond yields and foreign outflows. Investors will closely watch Governor Sanjay Malhotra’s remarks on inflation risks for clues on the future path of rates.
1d ago