American Express Co.’s profit missed Wall Street estimates on Thursday despite higher spending by its customers as the credit card giant kept aside a large sum to cover potential defaults and spent more on promotions. Shares fell as much as 7 percent to a near three-month low of $154.01 as expenses surged 22 percent to…

MANCHESTER, England—Manchester United reported a net profit of 6.3 million pounds ($7.77 million) in its second quarterly fiscal results. The English Premier League club, which is subject to takeover bids, on Thursday released its key financial figures for the three months ending Dec. 31, 2022. United’s total revenue was 167.3 million pounds, down 9.8 percent…

STOCKHOLM—Fashion retailer H&M reported a surprise operating profit for its first quarter due to a one-off gain and as cost-cutting measures started to bear fruit despite consumers curbing spending. While H&M showed signs of bringing its costs under control, it still struggled to compete with major rival Inditex, owner of Zara and other brands, as…

FedEx Corp on Thursday raised its fiscal 2023 profit forecast despite weak market conditions, citing progress on its plan to shave $3.7 billion in costs from its global delivery business. The Memphis, Tennessee-based company also posted a higher-than-expected quarterly profit despite a drop in volume. Fedex has been wringing costs from its bloated operations by…

DUBAI—Saudi Arabian oil giant Aramco on Sunday reported a record annual net profit of $161.1 billion for 2022, up 46 percent from the previous year on higher energy prices, increased volumes sold, and improved margins for refined products. The profits, which are around triple that of Exxon’s $56 billion, follow similar reports in February from…

NEW YORK—More of Walmart’s future profitability is likely to come from its sales of ads on Walmart.com and from fees it collects from merchants using its online marketplace and delivery services, than from sales of merchandise at its 10,000 stores, its chief financial officer said on Tuesday. “Today, the vast majority of our overall profits…

Kroger Co. on Thursday reported bumper quarterly results and forecast annual profit above Wall Street estimates, as the U.S. grocer bets on higher food prices and embarks on cost-cutting measures across its digital business and supply chain. The supermarket chain’s shares rose 3 percent as the outlook took Wall Street by surprise, after a string…

PARIS—Airbus is urging stepped-up European cooperation to ensure the continent’s security and future access to space after a year that saw the company suffer fallout from Russia’s war in Ukraine and the crash of a European satellite launcher. The France-based plane maker on Thursday reported a record overall 2022 profit of 4.25 billion euros ($4.55…

DETROIT—Ford Motor Co. on Thursday said quarterly profits fell and the automaker predicted a difficult year ahead, sending its shares down after the bell as investors were disappointed following this week’s robust report from rival General Motors Co. Ford blamed chip shortages and other supply chain issues and production “instabilities” that raised costs, along with…

American construction equipment manufacturer Caterpillar saw strong sales growth in the fourth quarter, but registered lower year-over-year profit per share, reportedly owing to foreign exchange headwinds. Caterpillar’s fourth-quarter 2022 sales and revenues came in at $16.6 billion, which is a 20 percent increase from the $13.8 billion made in fourth quarter 2021, according to a press…