Result Corner

Written by fe Bureau | Updated: Jul 31 2010, 04:19am hrs
High demand sees Sony back in black

Sony bounced back to profit last quarter and raised its full-year earnings forecast, fueled by stronger demand for its PlayStation 3 gaming consoles. The electronics and entertainment giant said it booked a net profit of 25.7 billion yen or $294 million at current exchange rates - for the April-June quarter. That was a sharp turnaround from a 37.1 billion yen loss a year earlier. Revenue grew 3.8% to 1.66 trillion yen.

Shell Q2 profit surges on higher production

Royal Dutch Shell, Europes largest oil company, posted a 15% increase in second-quarter profit on higher oil prices and production as it exceeded a target for cost savings. Net income rose to $4.39 billion from $3.82 billion a year earlier, The Hague-based Shell said on Thursday in a statement. Excluding one-time items and inventory changes, earnings beat analyst estimates.

Siemens profit up 40% on job cuts, cost savings

Siemens AG on Thursday said profit rose 40% owing to job cuts and cost savings, combined with a rebound in demand for factory automation gear, healthcare products and light bulbs. Sector profit, or operating income at Siemenss energy, healthcare and industry divisions, was 2.33 billion euros ($3.03 billion) in the quarter ended June 30, compared with 1.67 billion euros a year earlier. Net income rose 12% to 1.41 billion euros.

Lufthansa operating profit triples on cargo

Deutsche Lufthansa AG, Europes second-biggest airline, tripled its quarterly operating profit, topping analysts estimates, on a recovery in demand for travel and freight transport. Operating income was 159 million euros ($207 million), compared with 52 million euros a year earlier, the carrier said in a statement late yesterday. The company was predicted to earn 131 million euros, according to estimates. Sales rose 33% to 6.9 billion euros.