Latest news with #quarterlyprofit
Reuters
13 hours ago
- Business
- Reuters
FedEx cost cuts boost quarterly profit above Wall Street target
LOS ANGELES, June 24 (Reuters) - FedEx (FDX.N), opens new tab reported better-than-expected quarterly profit, after cost cuts and improved export volumes pushed operating margins higher, and signaled caution ahead with a forecast for the current quarter that was short of analysts' target. The Memphis-based package delivery firm's adjusted profit was $1.46 billion, or $6.07 per share, for the fiscal fourth quarter ended May 31. That was up from adjusted profit of $1.34 billion, or $5.41 per share, a year earlier. Revenue was up just 0.5% to $22.2 billion. Analysts, on average, expected earnings of $5.81 per share on revenue of $21.79 billion, according to data compiled by LSEG. FedEx forecasts fiscal first quarter adjusted profit of $3.40 to $4 per share, below analysts' estimates of $4.06 per share, according to LSEG.
Reuters
19-05-2025
- Business
- Reuters
Israel Discount Bank's first-quarter profit slips on higher default provision
TEL AVIV, May 19 (Reuters) - Israel Discount Bank ( opens new tab reported a 2% decline in quarterly profit after a higher provision to protect against loan defaults offset a gain in financing income. Discount, Israel's fourth-largest bank, on Monday said it earned 1.04 billion shekels ($294 million) in the first quarter, compared with 1.05 billion a year earlier. Its return on equity slipped to 13% from 14.6%. Credit loss expenses jumped 39% to 114 million shekels, while net financing income grew 5% to 2.66 billion shekels. Discount said it would raise its distribution to shareholders to 50% from 40% once permitted by Israel's banking regulator. For the first quarter, Discount will pay a dividend of 30% of quarterly net profit plus buy back shares for another 10%. The bank's Tier 1 capital ratio dipped to 10.54% in March from 10.66 at the end of 2024. Earlier, larger rival Hapoalim ( opens new tab reported a first-quarter profit of 2.42 billion shekels, up from 1.94 billion a year earlier. ($1 = 3.5396 shekels)
Reuters
13-05-2025
- Automotive
- Reuters
India's Tata Motors tops fourth-quarter profit view
May 13 (Reuters) - Indian automaker Tata Motors ( opens new tab reported a bigger-than-expected quarterly profit on Tuesday, helped by higher sales at its luxury stable Jaguar Land Rover (JLR) and lower expenses. The company reported a consolidated net profit of 84.70 billion rupees ($993 million) for the fourth quarter ended March 31, topping analysts' expectations of 74.58 billion rupees, as per data compiled by LSEG. ($1 = 85.2750 Indian rupees)
