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Exxon 1st quarter profit misses estimates on refining, chemical woes

Exxon 1st quarter profit misses estimates on refining, chemical woes. As declared in REUTERS/Jessica Rinaldi/File PhotoIt was the 2nd consecutive quarter of weakness in Exxon units which make gasoline, plastics & linked products.
Shares of Irving, Texas-based Exxon fell 2.5 % to $78.86 in premarket trading.
The Corporation posted internet revenue of $4.7 billion, or $1.09 per share, compared to $4.01 billion, or 95 cents per share, in the year-ago quarter.
In the downstream refining unit, though, profit fell twelve percent, & in the chemical unit, profit dropped 14 percent.
The shutdown cut quarterly earnings with $80 mn & produce with about 25,000 boe/d, Exxon said.

Exxon
Exxon

Amazon declares powerful profit for 1st quarter of 2018 as discounds jump to $51 billion

Sales jumped 43 % to $51.0 bn in the quarter, topping estimates of $49.8 billion, according to Thomson Reuters I/B/E/S.
The fee hike Information Systems foreseen to add a windfall to Amazon’s membership revenue, endeed up sixty % in the 1st quarter at $3.1 billion.
Despite the surge in shopping, Olsavsky gave credit for Amazon’s $1.6 bn profit final quarter to 2 younger businesses — advertising & Amazon Web Services.
“They are only getting started here.”Amazon told it expects operating profit this quarter among $1.1 bn & $1.9 billion, up from $628 mn a year earlier.
Amazon Web Services, that handles information & computing for big enterprises in the cloud, beat fresh business & saw its profit margin expand.

 

Amazon
Amazon

Kobe Steel posts 1st profit in 3 years in spite of information fraud scandal

According to Kobe Steel announced profit of ¥63.19 bn ($578 million) for the fiscal year ending March 31, against a loss of ¥23.05 bn a year earlier.
“Solid request in steel, aluminium & copper, as well as construction machineries helped boost our sales,” Senior Managing Executive Officer Yoshihiko Katsukawa told a break news conference.
For fiscal 2018, Kobe Steel predicts a ¥45 bn profit, in line with a mean profit prediction of ¥44.62 bn from 6 analysts.
This week, Kobe Steel told it was under probe with domestic authorities due to the scandal.
No financial chock from these investigations has been participate in its earnings forecast, Kawahara said.

 

 

Collected by :Victor Alphen

 

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