Latest news with #profit
Bloomberg
3 hours ago
- Business
- Bloomberg
Lender SEB's Net Interest Income Beats Estimates on Loan Growth
Sweden's largest lender by market value, SEB AB, posted better-than-expected profit from lending thanks to continued growth in loan and deposit volumes. While net interest income in the period shrank nearly 12% from a year ago, to 10.3 billion Swedish kronor ($1.1 billion), it nevertheless exceeded analyst expectations.
Yahoo
11 hours ago
- Business
- Yahoo
UnitedHealth's Quiet Profit Boost Under The Scanner
According to Bloomberg, UnitedHealth (NYSE:UNH) quietly sold stakes in its business units to generate an extra $3.3 billion in profit last year, preserving its 60-quarter streak of earnings beats, padding profits in the process. The insurer struck deals with private equity firms like Warburg Pincus and KKR that included clauses to buy back those stakes at a premium. Most of the gains showed up in the fourth quarter and slipped into its annual report with little fanfare. Warning! GuruFocus has detected 8 Warning Signs with KKR. That maneuver helped offset rising medical costs and prevented UnitedHealth from missing its first quarterly beat in over 15 years. It also highlights the lengths companies will go to meet Wall Street's expectations. Investors and regulators will be watching UnitedHealth's next results closely to see if this becomes a regular play or draws tougher scrutiny. This article first appeared on GuruFocus. 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
Wall Street Journal
11 hours ago
- Business
- Wall Street Journal
Omnicom Posts Lower Earnings Amid Interpublic Acquisition
Omnicom OMC -2.57%decrease; red down pointing triangle reported a lower profit for the second quarter, citing increased costs from its acquisition of rival Interpublic Group and severance actions stemming from efficiency initiatives. The advertising and media company reported $257.6 million in net income, or $1.31 a share, down from $328.1 million, or $1.65 a share, from the prior year.
Yahoo
12 hours ago
- Business
- Yahoo
Omnicom: Q2 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Omnicom Group Inc. (OMC) on Tuesday reported second-quarter earnings of $257.6 million. The New York-based company said it had profit of $1.31 per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were $2.05 per share. The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.02 per share. The advertising company posted revenue of $4.02 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $3.95 billion. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on OMC at
Yahoo
12 hours ago
- Business
- Yahoo
Hancock Whitney: Q2 Earnings Snapshot
GULFPORT, Miss. (AP) — GULFPORT, Miss. (AP) — Hancock Whitney Corporation (HWC) on Tuesday reported second-quarter profit of $113.5 million. The bank, based in Gulfport, Mississippi, said it had earnings of $1.32 per share. Earnings, adjusted for costs related to mergers and acquisitions, came to $1.37 per share. The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.34 per share. The holding company of Whitney Bank and Hancock Bank posted revenue of $501.1 million in the period. Its revenue net of interest expense was $375.5 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $371.3 million. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on HWC at
