Latest news with #LSEG
Yahoo
5 hours ago
- Business
- Yahoo
TSMC quarterly profit seen hitting record but Trump tariffs, forex a concern
TAIPEI (Reuters) -TSMC, the world's main producer of advanced AI chips, is expected to post a 52% jump in second-quarter profit to record levels on Thursday, though U.S. tariffs and a strong Taiwan dollar could weigh on its outlook. Taiwan Semiconductor Manufacturing Co, the world's largest contract chipmaker and a key supplier to Nvidia and Apple, is forecast to report net profit of T$377.4 billion ($12.9 billion) for the three months through June 30, according to an LSEG SmartEstimate compiled from 21 analysts. SmartEstimates place greater weight on forecasts from analysts who are more consistently accurate. The company will report the headline profit figure at 0530 GMT which will be followed by an earnings call from 0600 GMT that will include third-quarter guidance. TSMC has already flagged a rise in second-quarter revenue of 38.6%. Any profit result above T$374.68 billion would mark the company's highest-ever quarterly net income and its sixth consecutive quarter of profit growth. It remains unclear just how much U.S. President Donald Trump's tariffs will affect TSMC. Taiwan was threatened with a 32% reciprocal tariff rate in April but has yet to be notified of an updated figure that some countries have received. Trump also said this month that tariffs on semiconductors are likely to come soon. The company said in June that U.S. tariffs were having some indirect impact, noting they can lead to slightly higher prices, which may in turn weigh on demand. In March, TSMC announced a $100 billion investment in the U.S. alongside Trump at the White House, on top of $65 billion pledged for three Arizona plants - two of which have been built. Another key issue is the Taiwan dollar's 12% appreciation against the greenback so far this year. TSMC has said a 1% appreciation in the Taiwan dollar typically reduces its gross margin by 0.4 percentage points. In June, the company said that strengthening in the Taiwan dollar had shaved more than 3 percentage points off its gross margin. Shares in TSMC surged some 80% last year but have climbed just 5% for the year to date on worries about tariffs and unfavourable currency exchange rates.
Globe and Mail
6 hours ago
- Business
- Globe and Mail
United Airlines sees profit below estimates as travel spending falls
United Airlines Holding Inc. UAL-Q forecast on Wednesday a lower-than-expected profit in the quarter through September as worries about rising living costs and an uncertain economic outlook have led to a pullback in discretionary travel spending. The Chicago-based airline, however, said it has seen an improvement in overall bookings in the current quarter from a quarter ago, with a double-digit acceleration in business travel demand. United expects an adjusted profit in the range of US$2.25 a share to US$2.75 per share in the quarter through September. The midpoint of the forecast is US$2.50 per share, compared with analysts' average estimate of US$2.60, according to LSEG data. Its earnings in the third quarter are also expected to take a hit as a result of disruptions at Newark airport. The company's full-year adjusted profit is now estimated to come in the range of US$9 a share to US$11 a share. That compares with analysts' expectations of US$10.04 a share. The company's shares were down 2.5 per cent in after-hours trading. In April, United took an unusual step of offering two different earnings forecasts as President Donald Trump's trade war dented consumer and business confidence, making it harder for carriers to forecast their business. Since then, industry executives say travel demand has stabilized. Passenger traffic in the U.S., however, is still down from a year ago, leading to a decline in air fares, government data shows. United said demand trends have improved since the beginning of July, thanks to less geopolitical and macroeconomic uncertainty.
Yahoo
7 hours ago
- Business
- Yahoo
United Airlines sees profit below estimates as travel spending dips
CHICAGO (Reuters) -United Airlines on Wednesday forecast a lower-than-expected profit in the quarter through September as worries about rising living costs and an uncertain economic outlook have led to a pullback in discretionary travel spending. The Chicago-based airline, however, said it has seen an improvement in overall bookings in the current quarter from a quarter ago, with a double-digit acceleration in business travel demand. United expects an adjusted profit in the range of $2.25 a share to $2.75 per share in the quarter through September. The midpoint of the forecast is $2.50 per share, compared with analysts' average estimate of $2.60, according to LSEG data. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
9 hours ago
- Business
- Reuters
Omnicom tops revenue estimates on strong growth in advertising unit
July 15 (Reuters) - Advertising firm Omnicom (OMC.N), opens new tab on Tuesday beat Wall Street estimates for the second quarter, fueled by growth in its advertising and media segment. Shares of the company rose 2.2% in trading after the bell. The ad firm's results stayed immune to the ongoing macroeconomic and geopolitical uncertainty, helped by continued spending by businesses on Omnicom's services. Omnicom, which is leveraging AI in driving campaigns, is a marketing and communications firm that offers advertising, digital marketing solutions and branding to large corporations and government agencies across various sectors. The company's media and advertising segment, its largest by revenue, posted a growth of 8.2% in the second quarter. Omnicom's revenue stood at $4.02 billion in the quarter ended June 30, compared with analysts' average estimate of $3.96 billion, according to data compiled by LSEG. The company said it expects to close its acquisition of Interpublic Group of Companies (IPG.N), opens new tab in the second half of the year, as it cleared U.S. antitrust review. On an adjusted basis, it earned $2.05 per share, compared with expectations of $2.00.
Observer
10 hours ago
- Business
- Observer
China cuts electricity emissions to record lows in 2025
LITTLETON, Colorado: Surging clean power supplies have allowed China's utilities to reduce their emissions from electricity production to record lows during the opening half of 2025. Carbon dioxide emissions per kilowatt hour (kWh) of electricity averaged 492 grammes during the opening half of 2025, according to data from energy portal That was the first ever reading below 500 grammes per kWh, and is down from 514g/kWh during the same period in 2024 and 539g/kWh from January to June 2023. A nearly 23% rise in clean power generation from January to June 2024 was the main driver behind the reduction in emissions intensity, as higher volumes of clean energy allowed power firms to reduce output from coal and gas power plants. Total power generation from thermal power plants — mainly coal — dropped by 4% from a year ago to just under 7,000 terawatt hours (TWh), data from LSEG shows. Output from clean energy sources from January to June totalled 2,400 TWh, highlighting that fossil fuel power sources still account for a 75% share of China's power generation mix. But the growth of clean energy supplies continues to sharply outpace growth in fossil fuel power generation, suggesting that China's power mix looks set to keep getting cleaner. Total Chinese clean power output during the first half of 2025 was 200% more than during the first half of 2019, according to LSEG. In contrast, total Chinese thermal power output from January to June 2025 was 20% greater than during the same period in 2019. China's power sector emissions from fossil fuel generation have declined in line with the cleaner mix. Total emissions from fossil fuels used in electricity production from January to May were 2.24 billion metric tonnes of CO2, according to data from energy think tank Ember. That total is 60.5 million tonnes less than during the same months of 2024, and is an indication that some progress is being made against Beijing's goals of reducing energy sector pollution. However, the enduring economic drag caused by a lingering property downturn as well as the uncertainty surrounding tariffs charged by the United States on Chinese goods is also impacting China's power needs and emissions totals. The pace of construction in China has slowed sharply so far this decade following a debt crisis among property developers, which in turn has choked off demand for energy-intensive goods such as cement, piping, glass and construction steel. More recently, the fresh tariffs on Chinese goods set by US President Donald Trump this year have hit demand for China-made products, and slowed production lines across several manufactured items. — Reuters
