Mena News

 

  Apple ‘misses’ in Q3 2012: $35B revenue, $8.8B profit with $9.32 EPS, 26M iPhones, 17M iPads sold
Oct , 26 , 2012  
  Apple today announced its earnings for its third fiscal quarter of 2012. Apple’s revenue amounted to $35B in Q3. With earnings of $9.32 per share. The company’s net profit in Q3 was $8.8B. These numbers ‘missed’ industry estimates slightly but beat Apple’s own estimates. Note that Apple’s estimates are typically low, but it still did edge itself out by a bit over a billion in profit. The industry estimates by both independents and professionals are what cause people to say this is a ‘miss’, but those estimates are rarely correct anyhow. Apple sold 26M iPhones, up 28% year over year, and 17M iPads this quarter, up 84% year over year. Apple sold 4M Macs during the quarter, bringing sales up 2% when compared to the same quarter a year ago. iPod sales were at 6.8M down 10%. “We’re thrilled with record sales of 17 million iPads in the June quarter,” said Tim Cook, Apple’s CEO. “We’ve also just updated the entire MacBook line, will release Mountain Lion tomorrow and will be launching iOS 6 this Fall. We are also really looking forward to the amazing new products we’ve got in the pipeline.” “We’re continuing to invest in the growth of our business and are pleased to be declaring a dividend of $2.65 per share today,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the fourth fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $7.65.” Dare to compare Fortune estimates of Apple’s Q3 had placed overall revenue estimates from analysts at around $37.21B in revenue, with earnings of $10.33 EPS. Estimates had placed iPhone sales at around 28.97M and iPad sales at around 15.69M. In the first fiscal quarter of 2012, Apple’s revenue amounted to $46.33B, with earnings of $13.87 per share. The company’s net profit in Q1 was $13.06B. In the Q2 2012 earnings report, issued in April, Apple reported $39.2B revenue, $13.06BB profit, $12.30 EPS, 35.1M iPhones, 11.8M iPads, 4.89M Macs. Apple’s own estimates for Q3 were easily beat. “Our record March quarter results drove $14 billion in cash flow from operations,” said Peter Oppenheimer, Apple’s CFO, back in April. “Looking ahead to the third fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $8.68.” Apple will be streaming its earnings call live at 2pm, we will bring you important news and analysis from the call shortly thereafter. The stash Apple now has a cash hoard, including cash, short term and long term investments, of some $117.2 billion.
 

Read More

  Saudi Savola seeks shareholder OK for sukuk issue
Oct , 23 , 2012  
  Saudi Arabia's Savola Group said it will call for a meeting of its shareholders to amend its statutes in order to allow the company to issue Islamic bonds or any other securities. The issues should be "in accordance with the terms and in the amounts decided by the board provided that the total of those securities' value shall not exceed at any time the company's paid-up capital," Savola said in a statement posted on the Saudi bourse website. According to the proposal, the bonds would be issued "through one or more tranches or series of issues under one or more programs," the statement said.
 

Read More

  Alwaleed says Citigroup has great potential
Oct , 23 , 2012  
  Saudi billionaire Prince Alwaleed bin Talal, who has a stake in Citigroup , said the U.S. bank has great potential under new management following the departure of Vikram Pandit as chief executive. Alwaleed, speaking at a conference, said Pandit had done "a pretty good job" at Citigroup over the past several years and investors would need 2-3 years to see the results of the new management. Alwaleed also said he would stick with his investment in Apple.
 

Read More

  DP World sells stake in Russian firm for USD230mn
Oct , 23 , 2012  
  Dubai port operator DP World sold its quarter stake in a Russian container terminal to Global Ports Investment for USD230mn, as part of efforts to dispose of non-core assets. Dubai Ports said its minority ownership in Vostochnaya Stevedoring Co was a legacy investment with limited management involvement. Global Ports already holds 75 percent of Vostochnaya and will now take full control of the terminal following the sale. The transaction is expected to close this week, the Dubai-based firm said in a statement to Nasdaq Dubai.
 

Read More

  Arab Bank Group ups net profit by 13% in 9 months
Oct , 23 , 2012  
  Arab Bank Group announced Sunday in a press statement that its net profit increased by 13 per cent during the nine months period ended September 30, 2012 compared to the same period in 2011. Nemeh Sabbagh, Arab Bank’s chief executive officer, indicated in the press release that net profit after tax and provisions amounted to $484.5 million, up from $428.8 million, as a result of growth in net interest earnings and operating income. “The financial results of Arab Bank Group show a 7 per cent increase in operating income, reaching $1329.2 million as of September 30, 2012 as compared to $1245.9 million for the same period in 2011, while operating expenses rose by 5 per cent,” the bank pointed out in the press statement. “Customer deposits grew to $32.4 billion, while credit facilities reached $20.1 billion and total assets stood at $45.2 billion,” it said. Arab Bank Chairman Sabih Masri described the results as positive at a time when a number of countries in the region are facing a challenging environment and the world economy is slowing down. Stressing that the bank derives its dynamism from a diversified global network spanning 30 countries worldwide, Masri credited customer confidence as an underlying strength for the bank’s financial results The chairman expressed confidence in the bank’s future growth prospects and reiterated the commitment to its core values of conservative and prudent policies which are the cornerstone of Arab Bank. “The group continues to maintain a high quality loan portfolio thanks to its prudent policies and a high capital adequacy ratio which, at 14.73 per cent, exceeds the 8 per cent minimum required by the Basel Committee and the 12 per cent required by the Central Bank of Jordan. Liquidity remains strong as reflected in the loan deposit ratio of 62 per cent as of September 30, 2012” the press release indicated. Fitch credit ratings agency affirmed on July 25, 2012 the rating of Arab Bank at A- with a stable outlook. In a separate press release, Arab Bank announced that it was recently recognised by the international banking publication, EMEA Finance with Best Foreign Exchange and Best Cash Management services awards in the Middle East for 2012. These recognitions are part of EMEA Finance’s Transaction Banking awards recognising excellence in this field. “Arab Bank’s extensive global network of over 600 branches in 30 countries positions us as the leaders in cross-border services and at the same time allows corporate customers to leverage our network for their growing business needs,” Sabbagh said. He added: “This award is a testament to our ongoing commitment to provide the highest standards in corporate banking services in the region.” Nadya Talhouni, senior vice president, head of cash management and trade finance at Arab Bank, said: “Arab Bank’s cash management offering includes an extensive product suite that enables our customers to effectively manage their liquidity and payment needs. We have placed special focus on our cash management offering to ensure that we provide comprehensive solutions and drive our customer’s business forward.”
 

Read More

  Kuwait sets oil well on fire after gas leak
Oct , 18 , 2012  
  Kuwait Oil Company set fire to an oil well in the north of the KUWAIT state to get rid of gas leaking from the site, state news agency KUNA said. The state-owned company said levels of the hydrogen sulphide gas from a well at the Rawdatain oil field close to the Iraqi border were "far below danger levels", KUNA said.
 

Read More

  U.S. crude stocks up, oil products mixed
Oct , 18 , 2012  
  U.S. crude stocks rose last week as imports increased and oil product inventories were mixed after refiners boosted processing rates. Domestic stocks of crude oil rose by 2.86mn barrels in the week to October 12. Analysts polled in advance by Reuters had forecast an increase of 1.7mn barrels. Crude stocks at Cushing, Oklahoma fell by 140,000 barrels to 44.03mn barrels. Imports of crude rose by 126,000 barrels per day to 8.31mn bpd during the week. EIA data also showed that U.S. oil production last week reached 6.61mn barrels per day, the highest level since May 1995. Distillate stocks, which include diesel and heating oil, fell by 2.22mn barrels in the week, compared with analyst forecasts for a drop of 1.2mn barrels. U.S. gasoline inventories rose by 1.72mn barrels, compared with analyst expectations for a 500,000-barrel increase.
 

Read More

  Brent crude steady above USD113 as China GDP meets expectations
Oct , 18 , 2012  
  Brent futures held above USD113 on early Thursday, October 18, buoyed by hopes for steady growth in demand after China, the world's second-biggest oil consumer, posted growth that met expectations, and simmering tension in the Middle East provided additional support.
 

Read More

  China economy slows for 7th quarter, pick-up seen in Q4
Oct , 18 , 2012  
  China's economy slowed for a seventh straight quarter in July-September, missing the government's target for the first time since the depths of the global financial crisis. The National Bureau of Statistics said GDP grew 7.4 percent in the third quarter from a year earlier - in line with forecasts from economists polled by Reuters - the first miss of the official target since the first quarter of 2009's 6.5 percent.
 

Read More

  Record number of Britons in work in August, claimant count falls in September
Oct , 18 , 2012  
  The number of Britons claiming unemployment benefit fell unexpectedly and employment rose to a record high. The Office for National Statistics said the number of people claiming jobless benefit fell by 4,000 last month. Analysts had forecast an unchanged reading after a sharp fall in August, which -- as the ONS said -- was possibly helped by hiring for the London Olympics. The number of people without a job on the wider ILO measure dropped by 50,000 in the three months to August to 2.528mn. The ILO jobless rate stood at 7.9 percent, compared with forecasts for 8.1 percent.
 

Read More

[First Page] [Prev] 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 [Next] [Last Page]

  
New Page 1
Privacy Statement

Copyright © 2012 LOTUS All Rights Reserved
Developed By Superlink