OCBC beats forecast with 5% rise in Q1 profit to $1.98 billion
SINGAPORE – OCBC Bank started the year strong as its earnings rose on the back of higher non-interest income and a pickup in loan growth, even as its net interest margin fell.…
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profit
Samsung profit surges after AI boom reverses chip losses
SEOUL – Samsung Electronics’ earnings surged after the semiconductor business turned profitable for the first time since 2022, reflecting the global AI development boom.
The…
UBS starts job cuts at Asia wealth unit after profit slump
UBS Group started cutting jobs at its Asia private banking division this week as a slump in profits weighs on the region’s largest wealth manager, according to people familiar…
Jack Ma-backed Ant’s profit fell 65% due to 7 billion yuan fine
Ant Group’s quarterly profit fell by 65 per cent, dented by a one-time fine that signalled the end of China’s years-long crackdown on the tech industry.
The Hangzhou-based…
SIA posts record $1.44 billion net profit for first half
SINGAPORE – Geopolitical tensions, elevated fuel prices and softer economic conditions did little to prevent Singapore Airlines from posting record first-half earnings.
Boosted…
LOT Polish Airlines Posts $28 Million Profit In 2022
This week, LOT Polish Airlines, the flag carrier of the Central European nation, announced its financial results for 2022, a report that served as the culmination of months of…
Shell posts higher Q1 profit of $12.8 billion despite lower energy prices
LONDON – Shell on Thursday posted first-quarter net profit of US$9.65 billion (S$12.8 billion), topping analysts’ forecasts, as strong earnings from fuel trading offset cooling…
HSBC rewards shareholders with buyback, dividend as profit triples
HONG KONG – HSBC Holdings said on Tuesday its profit tripled in the first quarter, beating expectations, as rising interest rates boosted the lender’s income and helped it pay…
TSMC profit beats forecasts after chip demand fares better than feared
TAIPEI – Taiwan Semiconductor Manufacturing Co.’s (TSMC) profit beat expectations after its chip margins held up better than anticipated, assuaging concerns about fallout from a…
Sats reverses two quarters of losses with Q3 profit of $500,000
SINGAPORE – Inflight caterer and ground handler Sats reported a net profit of $500,000 for the third quarter to December, reversing two consecutive quarters of losses, as…