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Chevron posts unexpected loss of $588 million in fourth quarter, warns of job cuts
2016-01-29 17:10:01| Oil & Gas - Topix.net
Chevron lost $588 million in the fourth quarter of 2015, a setback that was unleashed by a slide in oil prices, leading Chevron to warn that a fresh round of expense reductions, including job cuts, would be in the offing for 2016, the company reported Friday. "Our 2015 earnings were down significantly from the previous year, reflecting a nearly 50 percent year-on-year decline in crude oil prices," said George Watson, Chevron's chief executive officer, in a prepared release.
Bristol-Myers posts 4Q loss, but beats views as sales rise
2016-01-28 15:49:17| Biotech - Topix.net
Bristol-Myers Squibb Co. swung from a tiny profit to a loss in the fourth quarter as it fought multiple headwinds, but it still beat Wall Street expectations.
LG Electronics posts 4Q loss as mobile business struggles
2016-01-26 11:10:48| Electronics - Topix.net
South Korea's second-largest consumer electronics company said Tuesday it had a net loss of 140.4 billion won for the October-December period, compared with a net loss of 205.7 billion won a year earlier. Quarterly sales fell 5 per cent to 14.6 trillion won.
Tags: business
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LG posts Q4 loss on flat smartphone sales
2016-01-26 08:29:00| Telecompaper Headlines
(Telecompaper) LG Electronics reported improved operating profit for the fourth quarter compared to a year earlier, as better margins in TVs and home appliances helped offset losses at its mobile phone business. The company's operating profit rose 27 percent year-on-year to KRW 349 billion. Sales were still down 4.7 percent to KRW 14.56 trillion, and the bottom line was a net loss of KRW 141 billion, due to losses at LG Display. At the mobile phone business, sales were flat year-on-year at KRW 3.8 trillion, and the operating margin was a negative 1.2 percent, the second consecutive quarter in the red. Worldwide, LG shipped a total of 15.3 million smartphones in the quarter, contributing to a total of 59.7 million units in 2015, a slight increase from the 59.1 million in 2014. LG said it expects the smartphone marketplace to be increasingly competitive in 2016 amid new premium models from competitors and further price competition in the mass-market tier. The introduction of two new flagship models and a more cost-competitive value chain is expected to improve the company's profitability in 2016.
Monsanto posts 1Q loss amid currency pressures, falling sales of biotech-enhanced corn seeds
2016-01-06 15:41:20| Chemicals - Topix.net
Monsanto on Wednesday said it swung to a $253-million loss in the first fiscal quarter, amid foreign currency pressures and falling sales of its biotech-enhanced corn seeds. On a per-share basis, the St. Louis-based company said it had a loss of 56 cents.
Tags: sales
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