Latest news with #net loss
Yahoo
a day ago
- Business
- Yahoo
Rumble Second-Quarter Loss Narrows; Discloses Intent to Buy German AI Firm
Rumble (RUM) shares rose early Monday as the video-sharing platform's second-quarter net loss narrow 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
Zawya
2 days ago
- Business
- Zawya
Saudi-listed Flynas turns to losses of $229mln in Q2 2025
Saudi Arabia's budget airline Flynas reported a net loss of 862.5 million riyals ($229.82 million) in the second quarter of 2025 compared to a net profit of SAR 238.86 million a year ago. The losses were entirely due to non-recurring initial public offering (IPO)-related expenses totalling SAR 1.08 billion. Revenue for the second quarter reached SAR 2.1 billion, down 1.5% year-on-year, due to temporary headwinds from the early suspension of Saudi Umrah and regional instability. The airline reported a net loss of SAR 714.6 million for the first half of 2025 compared to a profit of SAR 388 million a year earlier. Revenue rose 1.3% YoY to SAR 3.9 billion despite temporary headwinds faced in the second quarter. Total shareholders' equity doubled to SAR 3.37 billion by the end of June 2025, compared to SAR 1.64 billion in the same period last year.
Japan Times
7 days ago
- Automotive
- Japan Times
Mazda swings to net loss in April-June
Mazda Motor said Tuesday that it swung to a net loss in the April-June period due to a hit from U.S. President Donald Trump's steep tariffs and a stronger yen. The Japanese automaker posted a consolidated net loss of ¥42.1 billion ($286 million) for the three-month period, its first loss in the fiscal first quarter since 2020, during the COVID-19 pandemic. In the same quarter of 2024, the company reported a profit of ¥49.8 billion. The company posted an operating loss of ¥46.1 billion in the three months to June, compared with a profit of ¥50.3 billion a year earlier, as the U.S. tariffs cost it ¥69.7 billion. A 15% U.S. tariff on automobiles is an "extremely heavy burden on corporate finances," Mazda President and CEO Masahiro Moro told a news conference. The automaker's sales decreased 8.8% to ¥1.01 trillion. For the full year ending in March 2026, Mazda expects its net profit to decline 82.5% from the previous year to ¥20 billion. The U.S. tariffs are estimated to have an annual impact of about ¥230 billion on the company's operating profit. Mazda plans to offset more than 60% of the amount by increasing U.S. production and cutting costs. Mazda is more exposed to U.S. tariffs than Japanese rivals as it significantly relies on imports from Japan for sales in the U.S. market. The company will consider whether to raise prices in the United States when it updates its models, Moro said.
NHK
30-07-2025
- Automotive
- NHK
Nissan reports net loss of about $780 mil. for April-June quarter
Nissan Motor has announced its financial results for the April to June quarter, reporting a net loss of more than 115.7 billion yen, or about 780 million dollars. The struggling Japanese automaker also posted an operating loss of more than 79.1 billion yen. Nissan cited a decline in sales, as well as the impact of the US administration's tariff measures, which it says amounts to 68.7 billion yen, as causes for its poor performance. The firm also forecast an operating loss for the April to September period, predicting a loss of 180 billion yen. Nissan President and CEO Ivan Espinosa told reporters on Wednesday that it is difficult at this point to make an accurate forecast about the impact of US tariffs as some conditions and the timing of when the tariffs will be imposed are unclear. He added that once the new tariff rules become clear, the automaker will update the information accordingly.
France 24
21-07-2025
- Automotive
- France 24
US tariffs help push Jeep owner Stellantis into big loss
The 2.3-billion-euro ($2.7-billion) net loss in the first half of the year came as sales in North America continued to slump, down 25 percent by volume in the second quarter year-on-year. The carmaker, whose stable of brands also includes Peugeot, Citroen and Fiat, said first-half net revenues dropped 12.6 percent to 74.3 billion euros, according to the preliminary and unaudited results. Sales of vehicles fell by six percent in the second quarter year-on-year, after having dropped nine percent in the first three months of 2025. Stellantis said "the early effects of US tariffs" had a 300-million-euro negative impact and disrupted its plans to boost its struggling performance in North America. Automakers have struggled to respond to US President Donald Trump's new US tariff of 25 percent on imported cars that are not largely made within North America. The company, which also owns the Chrysler, Dodge and Ram Truck brands, paused production at some plants in Canada and Mexico in April as the tariffs went into force. Stellantis said the sharp drop in North American sales volume was "due to factors including the reduced manufacture and shipments of imported vehicles, most impacted by tariffs," as well as lower sales for corporate fleets. Restructuring charge Stellantis also took a 3.3-billion-euro charge, which it said was "primarily related to programme cancellation costs and platform impairments, net impact of the recent legislation eliminating the CAFE penalty rate and restructuring". Trump's massive tax and spending legislation, approved earlier this month, removed the penalties for not respecting the so-called CAFE fuel economy targets, meaning automakers can produce and sell more higher polluting cars in the United States. The company said it was in the early stage of taking action to improve performance and profitability, with new products expected to deliver a larger impact in the second half of 2025. Stellantis suspended its financial guidance in April due to the heightened uncertainty generated by US tariffs. Analysts at finance group ODDO BHF said a drop in sales was widely expected and noted that new chief executives often clean house by passing new provisions or restructuring charges. Company veteran Antonio Filosa took over as chief executive in June and immediately launched a management shake-up. Filosa headed up the North American region that accounts for most company profits and whose struggles last year precipitated the sacking of Carlos Tavares, and has retained responsibility for the region. While the overall six-percent drop in sales volumes was in line with analyst expectations, according to ODDO BHF, the 25-percent drop was double the 12 percent foreseen by analysts. Shares in Stellantis fell 2.1 percent in morning trading on the Paris stock exchange, which was 0.4 percent lower overall. Stellantis said it would release audited first half results on July 29 as scheduled. © 2025 AFP
