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Verizon Q1 results, profit fall on pandemic but cash flow still strong

2020-04-24 15:31:00| Telecompaper Headlines

(Telecompaper) Verizon reported lower results for the first quarter, impacted by the coronavirus pandemic and the adoption of a new revenue recognition standard, as well as an increase in bad debt due to crisis. The company said it increased its bad debt reserve in the quarter by USD 288 million based on the number of customers seeking payment relief under the Keep Americans Connected pledge.

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Kinder Morgan Cuts 2020 Core Profit Outlook, Spending

2020-04-23 15:05:00| OGI

Kinder Morgan also took a non-cash impairment charge of $950 million in the first quarter related to certain oil and gas producing assets in its CO unit.

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China Mobile Q1 customer numbers, revenues, profit fall amid virus pandemic

2020-04-20 14:18:00| Telecompaper Headlines

(Telecompaper) Preliminary operating revenues for the quarter fell 2 percent from the year before to CNY 181.3 billion, impacted by measures taken during the coronavirus (covid-19) pandemic and despite service revenue rising 1.8 percent to CNY 168.9 billion. Revenue from the sale of products and others was down 34.9 percent to CNY 12.4 billion, mainly due to lower handset and IoT device sales amid the virus hit. Meanwhile, EBITDA slipped 5.8 percent to CNY 68.5 billion while the profit attributable to shareholders dipped 0.8 percent lower to RMB 23.5 billion. 

Tags: customer china mobile fall

 

Samsung guides for higher Q1 revenues, operating profit

2020-04-07 08:59:00| Telecompaper Headlines

(Telecompaper) Samsung has provided guidance for the first quarter, saying it sees revenues at KRW 54-56 trillion and the operating profit at KRW 6.3-6.5 trillion. Both figures are lower than the previous quarter's respective KRW 59.88 trillion and KRW 7.16 trillion, but higher than the KRW 52.39 trillion and KRW 6.23 trillion reported the year before.

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Woolworths cuts apparel orders, warns on FY profit drop

2020-04-06 14:19:00| Daily apparel & textile news and comment - from just-style.com

Woolworths South Africa is cutting down orders from its apparel suppliers as part of measures to manage costs during the coronavirus crisis, amid a warning it will miss full-year earnings by at least 20%.

Tags: orders apparel drop profit

 

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