On Monday, Ryanair announced that its quarterly profit after tax had decreased by 46% compared to the same period last year. The budget airline reported a profit after tax of 360 million euros in the first quarter, down from 663 million euros in the previous year. The airline attributed the drop in profit to weaker-than-expected
Earnings
Volvo Cars experienced a significant increase in its annual operating profit for the second quarter, leading to a surge in its stock price by 7.11%. The company’s core operating profit reached 8.2 billion Swedish kronor, marking a 28% rise from the previous year. This remarkable growth in profitability was attributed to a 15% increase in
Taiwan Semiconductor Manufacturing Company (TSMC) has exceeded revenue and profit expectations in the second quarter, showcasing a strong performance fueled by the increasing demand for advanced chips used in AI applications. The company reported a revenue of 673.51 billion New Taiwan dollars, surpassing the LSEG consensus estimate of NT$657.58 billion. Additionally, TSMC’s net income of
Nokia, the Finnish telecom company, experienced a massive setback as its shares plummeted following a 32% decline in second-quarter operating profit. The weak demand for its 5G equipment was cited as the primary reason for the disappointing financial results. The company’s Helsinki-listed stock took a hit, dropping by 8% shortly after the market opened in
The recent optimism surrounding the Federal Reserve’s potential decision to lower interest rates has had a significant impact on the stock market. With the likelihood of a rate cut by September standing at 100%, traders have been pushing stocks to new highs, as seen with the Dow Jones Industrial Average and the S&P 500 reaching
Adidas stocks saw a significant boost after the company’s announcement of an increase in its full-year 2024 earnings guidance. The shares surged by 4.42% at 9:07 a.m. London time, showcasing investor confidence in the brand’s future prospects. Adidas reported a remarkable 11% increase in revenues for the second quarter, surpassing expectations. The company also witnessed
ASML recently reported second-quarter earnings and sales that surpassed expectations, with net sales reaching 6.24 billion euros compared to the anticipated 6.03 billion euros. Similarly, net profit came in at 1.58 billion euros, exceeding the estimated 1.43 billion euros. These figures showcase ASML’s ability to thrive in the semiconductor market, particularly as interest in artificial
Bank of America reported a second-quarter performance that surpassed expectations, with earnings coming in at 83 cents a share, higher than the estimated 80 cents a share. The revenue also showed growth, reaching $25.54 billion compared to the estimated $25.22 billion. Despite a 6.9% decrease in profit from the previous year, the bank managed to
Burberry, a renowned British luxury brand with a history spanning over 168 years, faced a significant setback as its shares plummeted by over 15% following a lackluster first-quarter performance. The company issued a profit warning, signaling a potential operating loss for the first half of the year and a full-year operating profit below market expectations.
The week started off on a positive note for U.S. stocks, with the S & P 500 rebounding from a recent downturn. This followed a seven-day win streak being broken as investors shifted their focus from Big Tech names to smaller-cap stocks. Nvidia, a Club holding, experienced a 5% drop but managed to recover with