
Walmart's Mexico unit posts 10% dip in Q2 profit even as sales rise
Revnues for the quarter were up 8% from the same quarter in 2024 to reach 246.25 billion pesos.
($1 = 18.7654 Mexican pesos at end-June)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Reuters
19 minutes ago
- Reuters
Endesa reports 30% profit rise but warns Spain's grid plan lacks incentives
MADRID, July 29 (Reuters) - Spanish power utility Endesa ( opens new tab reported on Tuesday a 30% rise in first-half net profit to 1.04 billion euros ($1.20 billion), while warning that a proposed remuneration framework for power grid investments in Spain fails to offer adequate incentives. The company, majority-owned by Italy's Enel ( opens new tab, has shifted its focus to expanding and upgrading power networks amid soaring electricity demand and connection requests, reducing spending on renewables. A massive blackout on April 28 affecting Spain and Portugal has reignited discussions about the investment needs for the country's power networks, which are regulated by Spain's competition and energy watchdog CNMC. The company criticised a proposal by Spain's competition and energy watchdog CNMC to update the remuneration framework for investments in grids in the coming year, including raising the guaranteed return on investments in power grids to 6.46%. "This proposal seriously jeopardises the level of investment Spain needs to achieve its decarbonisation, increase electricity demand and grid investment goals" included in the country's climate and energy plan, Chief Executive Jose Bogas said. Endesa booked a net profit of 1.04 billion euros ($1.20 billion) in the period. This compares with 800 million euros a year earlier, when results included a windfall tax on energy companies. The company said it is on track to meet its targets this year. "Endesa suffered a declining trend in its integrated electricity margin" in the second quarter "and lower, albeit still high, gas unit margins," RBC analyst Fernando Garcia said in a note. "We expect a declining trend in gas unit margins in the second half and beating guidance looks now more challenging," he said. ($1 = 0.8632 euros)


Reuters
19 minutes ago
- Reuters
BetMGM raises 2025 forecast on strong iGaming, sports betting growth
July 29 (Reuters) - U.S. sports-betting service BetMGM, a joint venture between Entain (ENT.L), opens new tab and MGM Resorts (MGM.N), opens new tab, has raised its full-year 2025 revenue and core earnings forecast after posting a 35% rise in first-half revenue, helped by strong demand in online sports betting and its iGaming division. Growth in player volumes and engagement helped lift iGaming revenue by 28% in the first half, Entain said. Founded in 2018, BetMGM has been expanding its digital footprint to tap into the fast-growing U.S. e-betting market amid stiff competition. BetMGM now expects revenue of at least $2.7 billion and core earnings of at least $150 million in fiscal year 2025, Entain said. It had earlier forecast revenue of at least $2.6 billion, and earnings before interest, taxes, depreciation, and amortization of at least $100 million.


Reuters
19 minutes ago
- Reuters
Russia's Sberbank reports marginal Q2 profit rise to $5.19 billion
MOSCOW, July 29 (Reuters) - Russia's dominant lender Sberbank ( opens new tab on Tuesday reported a slight increase in second-quarter net profit to 422.9 billion roubles ($5.19 billion), from 418.7 billion roubles a year earlier. Sberbank has coped relatively well with high interest rates squeezing lending portfolios. Banks are set to benefit with interest rates now coming down, nipping concerns about rising overdue consumer debt in the bud. ($1 = 81.5500 roubles)