LONDON—Barclays reported on Thursday a doubling of third-quarter profits, beating market expectations, as it followed Wall Street rivals in reaping bumper investment banking fees from a surge in advisory mandates and equities trading. The British bank posted profit before tax of 2 billion pounds ($2.8 billion) for the July-September period, better than the 1.6 billion…
American Airlines Posts Profit Versus Year-Ago Loss as Travel Demand Improves
American Airlines Group Inc. reported a quarterly profit compared to a year-ago loss on Thursday, as easing COVID-19 curbs strengthened travel demand ahead of the peak holiday season. The No.1 U.S. airline reported a net income of $169 million, or 25 cents per share, in the third quarter ended Sept. 30, compared with a loss…
Nasdaq Profit Beats on Robust Demand for Investment Products
October 20, 2021
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Nasdaq Inc. on Wednesday reported a third-quarter profit that topped Wall Street estimates, helped by strong demand for its investment-related products and a jump in the number of initial public offerings. While the transatlantic exchange operator is best known for its bourses, Nasdaq has tried to push into the anti-money laundering software sector and reposition…
Goldman Sachs Thrives on Global Dealmaking Frenzy to Post Bumper Profit
Goldman Sachs Group Inc. reported a 66 percent surge in third-quarter earnings that swept past expectations on Friday, as Wall Street’s biggest investment bank rode a record wave of M&A activity that has also boosted profit for other big U.S. banks. Net earnings applicable to common shareholders rose to $5.28 billion in the quarter ended…
BlackRock Quarterly Profit Beats Estimates as Rise in Assets Boosts Fee Income
October 13, 2021
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BlackRock Inc., the world’s largest money manager beat third-quarter profit estimates as an improving economy helped boost its assets under management, driving up fee income. Asset managers have benefited from rising global financial markets in recent quarters as investors put money to work, making the most of the post-pandemic economic reopening, driven by progress on…
JPMorgan Smashes Profit Estimates on M&A Boom, Wealth Management Strength
JPMorgan Chase & Co. reported a bigger-than-expected 24 percent jump in third-quarter profit on Wednesday, boosted by a global dealmaking boom and strength in its wealth management arm. The bank, whose fortunes reflect the health of the U.S. economy, said robust M&A activity offset a slowdown in trading. Its consumer bank also reported a strong…
Tesco Defies Supply Chain Challenges to Lift Profit Forecast
LONDON—Tesco, Britain’s biggest retailer, raised its full-year earnings forecast on Wednesday after the unmatched scale of its store and online operations helped it outperform rivals in the first half and deliver a better-than-expected 16.6 percent increase in profit. British retailers are battling supply chain disruptions and labor shortages. Supermarkets also face tough comparisons against record…
Boohoo’s Margins Dented by Higher Freight and Labour Costs
LONDON—British online fashion retailer Boohoo warned on Thursday that full year profit margins will be lower than its previous guidance due to a rise in freight costs in its supply chain and higher wages for its distribution centre workers. Shares in the group dropped 11 percent, extending year-on-year losses to 37 percent after it said…
H&M’s Sept Sales Hit by Supply Delays After Profit Tops Pre-Pandemic Level
STOCKHOLM—Supply disruptions hampered H&M’s sales in September, the Swedish retailer said on Thursday, after its June-August profit surpassed expectations and pre-pandemic levels. Disruptions to the global economy during the pandemic have upset global supply chains, leading to shortages of goods as well as containers, storage and drivers for the transportation of goods, and causing a…
Santander to Pay Shareholder Remuneration of 1.7 Billion Euros
MADRID—Spain’s Santander said on Tuesday its board had decided to make an interim distribution from 2021 earnings through a cash dividend and share buyback worth 1.7 billion euros ($2 billion), equivalent to 40 percent of its first-half underlying profit, The announcement comes after the ECB said in July it would lift restrictions on bank dividend…
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