Latest Financial performance News
Home Depot's Q3 results top Wall Street as pullback in consumer spending eases a bit
Home Depot continued to deal with a pullback in spending from customers in its fiscal third quarter, but it was less severe than in the past, and its performance beat Wall Street's expectations. The home improvement retailer also boosted its full-year revenue outlook. Revenue for the...
Japanese automaker Nissan cuts 9,000 jobs as its vehicles fail to sell
TOKYO (AP) — Nissan reported Thursday a loss for the latest fiscal quarter as its vehicle sales sank while costs and inventory ballooned, prompting the Japanese automaker to slash 9,000 jobs. Chief Executive Makoto Uchida said he was taking a 50% pay cut to take responsibility for...
Nintendo reports lower profits as demand drops for its aging Switch console
TOKYO (AP) — Nintendo, the Japanese video game maker behind the Super Mario franchise, said Tuesday that its profit fell 60% in the first half of the fiscal year, as demand waned for its Switch console, now in its eighth year since going on sale. Kyoto-based Nintendo Co. reported a...
Warren Buffett is sitting on over $325 billion cash as Berkshire Hathaway keeps selling Apple stock
OMAHA, Neb. (AP) — Warren Buffett is now sitting on more than $325 billion cash after continuing to unload billions of dollars worth of Apple and Bank of America shares this year and continuing to collect a steady stream of profits from all of Berkshire Hathaway's assorted businesses without...
Financial market worries over the UK budget appear to ease
LONDON (AP) — Worries about this week's tax-raising U.K. budget within financial markets appeared to ease Friday with the interest rates charged on British debt steadying and the pound rising against most other currencies. In the wake of Wednesday's budget statement, the first by a...
Security tech company Evolv fires its chief executive
NEW YORK (AP) — Amid the backdrop of a sales misconduct investigation and other looming legal troubles, security technology company Evolv is now firing its CEO. Evolv's board of directors terminated chief executive Peter George on Wednesday, effective immediately, according to a...
Summer pullback in mortgage rates helped pave way for lower down payments for many homebuyers
LOS ANGELES (AP) — Homebuyers opted to make smaller down payments this summer as declining mortgage rates helped boost their purchasing power, though home shoppers’ upfront costs remain near their peak. The average down payment on a U.S. home as a percentage of the purchase price...
Samsung reports 'major' progress in supply deal for AI chips
SEOUL, South Korea (AP) — Samsung Electronics on Thursday reported progress on a major supply deal for artificial intelligence-focused chips, aiming to reassure investors following a slowdown in semiconductor profits during the last quarter. The South Korean technology giant said...
Reddit's explosive user growth and AI tools help it soar to its first profit as a public company
NEW YORK (AP) — Reddit has turned a profit for the first time as a public company. The social platform claimed a profit of $29.9 million, or 16 cents per share, for the period ending in September, and reported sales of $348.4 million, an amount surpassing the $312.8 million...
PepsiCo is closing 4 bottling plants and cutting nearly 400 jobs as it streamlines operations
PepsiCo said Wednesday it plans to close four U.S. bottling plants and lay off nearly 400 workers as part of its efforts to streamline its operations. The company said the closures will impact 136 workers in Cincinnati; 131 in Chicago; 127 in Harrisburg, Pennsylvania; and fewer than...
