Page 98 - Q2 Results

US economy remains resilient in second quarter, labour market tight

Tight labour market conditions continue to prevail, with the number of Americans filing new claims for unemployment benefits rising slightly last week, other data showed on Thursday

Oyo to report first profitable quarter in Q2 FY24 at Rs 16 crore PAT

The company's revenue from operations in FY23, Agarwal added, stood at approximately Rs 5,463 crore in FY23 up from Rs 4,781 crore in FY22, marking a 14 per cent increase

OYO set to report maiden profit of over Rs 16 crore in Q2: Report

Oravel Stays Ltd, which operates travel tech brand OYO, is set to report its first-ever profit after tax of over Rs 16 crore in the current quarter ending September, according to an email sent by OYO's founder and CEO Ritesh Agarwal to the company's top management on Tuesday, sources said. "This year marks the 10th year of OYO, making it momentous and special. I have news to share befitting this occasion. As per the current trajectory in this quarter, Q2 FY24 will mark our maiden profitable quarter with a projected profit after tax (PAT) of over Rs 16 crore," Agarwal said in an email to the company's leadership, seen by PTI. Talking about future growth prospects, Agarwal said: "We see immense potential in future growth markets like the US & UK where we are dedicated to instilling confidence in our patrons and utilizing innovative technologies, such as contactless check-in, to cater to their evolving needs of the customer." He also informed that as per the just-released annual ...

Potential for Indian IT sector stocks likely to see some rerating

Much of the bad news seems priced in, and a gradual recovery in US tech spending could happen from Q2

UBS smashes Q2 banking profit record on heels of Credit Suisse takeover

The $29 billion gain is a result of the accounting difference between the $3 billion price UBS paid for Credit Suisse and the value of the acquired lender's balance sheet

Growth concerns weighing on Nykaa's stock; it may be a blip though

Company optimistic about Q2 and analysts continue to see high long-term growth prospects

Economy gathering momentum in Q2, inflation remains concern, says RBI

Indian economy is gathering momentum in the second quarter, though inflation would continue to average above the central bank's comfort zone of 6 per cent, said an article in the RBI's monthly bulletin released on Thursday. The consumer price index (CPI) based retail inflation shot up significantly to 7.44 per cent in July, from 4.87 per cent in the preceding month, mainly due to soaring prices of tomato, vegetables and other food items. In his address to the nation on the Independence Day, Prime Minister Narendra Modi vowed to take more steps to contain price rise. The uptick in inflation in its June reading mutated in July, with the unprecedented shock to tomato prices spilling over to prices of other vegetables, said the article on 'State of the Economy'. "While core inflation witnessed a moderation, headline inflation is expected to average well above 6 per cent in the second quarter," it said. The article has been authored by a team lead by Reserve Bank Deputy Governor Michae

Amazon crosses Wall Street's estimates, posts $134 bn revenue in Q2

Online sales lift earnings; shares surge about 11% in early trade

Warner Bros Discovery reports smaller quarterly loss on cost cuts

Warner Bros Discovery's new streaming service launched during the quarter in the United States, combining HBO Max's scripted entertainment with Discovery's reality shows

Cognizant Q2 profit down 19.7%, retains 2023 revenue growth guidance

Chief Financial Officer Jan Siegmund to retire in early 2024 but plans to stay in his role until the company identifies a successor and transition is completed

Pepsi India bottler Varun Beverages posts profit growth on steady volumes

The company, which also sells Aquafina packaged bottled water, said its consolidated revenue from operations grew 13.60 per cent to Rs 5,700 crore year-on-year

Varun Beverages rises 3% on strong Q2 results; stock up 26% so far in 2023

The company's revenue rose 13 per cent year-on-year (YoY) to Rs 5,611 crore in the second quarter of calendar year 2023 (Q2CY23)

Hilton beats Wall Street Q2 estimates on rebounding travel demand

The company's revenue per available room, or RevPAR, an important metric in the hospitality industry, rose about 12% in the quarter from a year earlier

General Motors Q2 profit up 52% on strong sales, confirms new Chevy Bolt EV

Despite taking on a huge chunk of an expensive electric vehicle recall, General Motors posted USD 2.54 billion in second-quarter net income, a 52 per cent increase over a year ago. Continued strong vehicle sales and pricing, as well as cost cuts, led to the better-than-expected quarter. The Detroit automaker on Tuesday raised its financial guidance for the full year with one qualification: that it can negotiate union labor contracts without a strike. Chief Financial Officer Paul Jacobson told reporters that customers paid about USD 1,600 more per vehicle last quarter than from January through March with an average US sale price of USD 52,000. Discounts and inventory remained flat as the company sold 19 per cent more vehicles than a year ago in the US, its most profitable market. We've had an ability and a willingness and a capability to remain disciplined in our pricing and our incentives, Jacobson said. GM raised its full-year guidance for the second straight quarter, saying it w

Abbott beats quarterly profit estimates on demand for medical devices

Abbott's diagnostic sales came in at $2.3 billion in the quarter, in line with analysts' average estimates.

CIE Automotive India's Q2 profit surges on robust domestic, European demand

The company's European business, which constituted around 49% of its consolidated segmental revenue for the quarter, grew 5.3% year-on-year, outperforming the Indian business, which grew 4.8%

Bank of America profit rises in second qtr on boost from interest income

Bank of America's net interest income (NII) rose 14% to $14.2 billion in the second quarter

JPMorgan second-quarter profit rises 67% on higher interest income

The largest US lender's profit climbed to $14.47 billion, or $4.75 per share, for the quarter ended June 30

Foxconn Q2 sales fall 14%, Q3 outlook brighter ahead of shopping season

For the month of June, sales fell 19.7% year-on-year, though at T$422.8 billion it was still the second highest figure on record for the same period

Despite layoffs, Accenture Q2 outlook a relief for IT companies

Accenture's performance was evident among Indian IT stocks, which were up in the early hours of trading