profit

Aug. 4 (UPI) — British oil giant BP posted second-quarter profit on Tuesday of $5.7 billion, more than double the $2.35 billion it made in the April to June period in 2025, amid sharply higher oil and gas prices caused by the U.S.-Iran conflict.

Profit was $2.5 billion more than what the company made in the first quarter, the first two months of which were before the United States and Israel attacked Iran on Feb. 28, and easily beat the $5 billion expected by analysts.

BP’s results, the latest of the oil giants to report bumper profits in recent days following on from Shell, Exxon Mobil and Chevron, came a day after U.S. President Donald Trump accused energy firms of exploiting the current shortage of supply.

“Based on a shortage, they’re making too much money,” he said Monday after Exxon Mobil and Chevron last week reported a combined $26.5 billion profit for the second quarter.

Trump demanded the companies return some of their windfall to the public by cutting their retail prices, saying profits that had jumped as much as 12-fold were not acceptable and that he was not happy about it.

On Friday, Shell, the other British supermajor, also posted results showing it more than doubled its earnings, reporting a $9.84 billion profit for the April to June period, up from $4.26 billion in the same period last year.

Environmental groups criticized the profit made by BP as unseemly.

“Clearly not everyone is feeling the pain of the energy crisis. While BP banks another round of enormous profits, millions of households are paying the price through sky-high energy bills and a climate crisis accelerating rapidly out of control with increasingly severe heatwaves, wildfires and droughts,” said Friends of the Earth campaigns head Rosie Downes.

BP CEO Meg O’Neill told CNBC on Tuesday that while she understood the pressure ordinary consumers felt when they were confronted by the prices at the pump, the company had little control over the cost.

“The reality is we produce a global commodity and the prices for the product we sell hangs off that global commodity price, said O’Neill, who stressed that the sterling financial results were due to strong performances across all its businesses,” she said.

She added that the company had tweaked the firm’s refining runs to ensure the products consumers needed most at any given point in time were available in sufficient quantities but insisted BP was “there was more to do.”

“We are not making the most of our potential. Our performance over the past few years has not met our own expectations, let alone those of our shareholders. We have not delivered consistently; we have written off too much value; and our costs and liabilities are not resilient enough in a low price environment,” said O’Neill.

BP’s results came four days after it put its North Sea oil business on the market amid uncertainty over whether the British government will forge ahead with phasing out North Sea oil and gas, in line with its Net Zero by 2050 target, or issue some new drilling licences to meet U.K. demand in the interim.

O’Neill said Tuesday that in a conversation with Prime Minister Andy Burnham he had assured her that he would take a “pragmatic” approach to the issue.

“The U.K. is still using a huge amount of oil and natural gas every single day, and we ought to be using our domestic resources first instead of buying those resources from a third party,” O’Neill added.

Analysts estimate BP’s 24 fields, about half of which are still producing, should fetch around $2.6 billion.

There are estimated to be at least 12 billion barrels of oil left under the North Sea, although developed reserves awaiting to be pumped are much lower.

Despite the big rise in profits, BP chief executive Meg O’Neill said the company was not reaching its full potential.

BP, which employs nearly 14,000 people in the UK, confirmed plans to move further away from clean energy, revealing plans to sell off its US renewable natural gas business Archaea.

O’Neill said this was part of her plan to prioritise “value, not sentiment or history”.

“We have to focus on the assets with the strongest potential to deliver competitive returns and long-term value,” she said.

Last week, BP announced it was putting its North Sea business up for sale in a move that would end 60 years of production in the region by the company.

Russ Mould, investment director at AJ Bell, said the sell-offs intended to make the business more streamlined.

“O’Neill will be aware she cannot rely on oil and gas prices remaining this high indefinitely,” he said.

“She needs to make sure it can prosper even when the backdrop is less helpful.”

The bumper profits reported by oil companies have led to an angry response from campaign groups.

Angharad Hopkinson, from environmental group Greenpeace, said BP’s results showed that “corporate gains have become entirely divorced from the public good”.

She said “the one point on which we agree with BP” is its decision to sell off its North Sea operations.

“Prolonging this parasitic relationship by trying to squeeze the last few drops of expensive oil out of the North Sea is sheer folly,” Hopkinson said.

Simon Francis, co-ordinator of the End Fuel Poverty Coalition, said oil firms “have banked more billions from a crisis that has created real hardship for millions of households”.

“The lesson is not to hand yet more tax breaks to an industry posting billions in profit every quarter, but to use Windfall Tax receipts to clear the record energy debt households built up during the crisis,” he said.

Energy firms operating in the UK are subject to a windfall tax – called the Energy Profits Levy – that was introduced in 2022.

However, the tax only applies to profits made from extracting oil and gas in the UK.

Peacock, NBCUniversal’s streaming service, reached profitability for the first time, boosted by FIFA World Cup, NBA playoffs and reality dating show “Love Island USA.”

The milestone comes as Comcast Corp. prepares to spin off NBCUniversal entertainment and news media businesses into a separate company. Peacock, which launched in 2020, grew its paid subscribers by 4% to 48 million in the second quarter, compared to the previous quarter. The company said Peacock’s earnings before interest, taxes, depreciation and amortization was $189 million.

“In just six years, we built Peacock into a streaming business with real scale in the U.S.,” said Brian Roberts, chairman and co-CEO of Comcast on Thursday in an earnings call, adding that Peacock has added 2 million paid subscribers in each of the last two quarters.

Co-CEO Mike Cavanagh said that performance “reinforces the value of NBC, Telemundo, Bravo, and Peacock together as one integrated media business with continued opportunity to drive stronger engagement, advertising, and profitability into the future.”

Comcast plans to spin off Peacock, NBC and Telemundo broadcast networks, Bravo, Universal film, television studios and theme parks and British TV service Sky into its own separate company, with a goal of completing the separation in about a year.

Michael J. Wolf, CEO of Activate Consulting, said Peacock’s first profit proves that live sports and premium programming “remain the single most powerful anchors for consumer attention and subscriber growth.”

“As Comcast prepares to spin off NBCUniversal, freeing it from legacy cable, a standalone NBCU is now structurally positioned to compete at the highest level of streaming,” Wolf said in a statement.

Peacock was the last major premium subscription video-on-demand service launched by a legacy studio to reach profitability, said Brandon Katz, director of insights and content strategy at Greenlight Analytics. The streaming service is available only in the U.S. and certain U.S. territories. Its reach is much smaller than other rivals like Netflix, which has about 80 million households in the U.S. and Canada.

“It was a long and arduous process for Peacock to reach profitability, and this is obviously a very important step for their business, but one small step in a much larger journey,” Katz said.

The Peacock news was part of Comcast’s earnings results. Comcast said revenue declined 1% to $29.9 billion in the second quarter, compared to a year ago, hurt by the loss of broadband residential customers.

Net income was $3.5 billion, down 68% from a year ago, when its profit was boosted by a $9.4 billion gain from Comcast’s sale of its share in Hulu.

Content and experiences revenue increased 22.9% to $10.7 billion, thanks to increases in advertising and theatrical revenue from popular movies including “The Super Mario Galaxy Movie,” horror movie “Obsession” and the international distribution of “Michael.”

Comcast’s stock closed Thursday at $21.92 a share, down about 7%.

Published on
16/07/2026 – 14:24 GMT+2

TSMC posted a record quarterly profit on Thursday and raised its revenue outlook as booming demand for artificial intelligence chips continued to fuel growth at the world’s largest contract chipmaker.

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Taiwan-based TSMC reported earnings of $4.31 per share for the April-June quarter, beating analysts’ expectations.

Revenue came in at $40.2 billion (€36.8bn), above analysts’ estimates of $39.63 billion (€34.6bn).

In local currency, net profit reached a record NT$706.6bn (€19.1bn), up 77% from a year earlier, while revenue climbed 36% to NT$1.27 trillion (€36.8bn), as appetite for the advanced chips TSMC makes for customers such as Nvidia and Apple showed no sign of cooling.

Given that it manufactures semiconductors for almost every major chip designer, the Hsinchu-based firm’s results are closely read as a gauge of the wider sector and of broader AI demand itself, just as investors fret over a possible bubble.

CEO Che-Chia Wei described global AI-related demand as “extremely robust” and said he expected it to remain very strong until around 2029 or 2030. On that basis, TSMC now forecasts 2026 revenue growth of slightly above 40% year on year, up from its previous guidance of more than 30%.

Thursday’s figures confirmed what monthly sales data had already suggested.

As reported on Monday, June revenue jumped 67.9% year on year, and first-half sales rose 35.6% from the same period in 2025, slightly ahead of analysts’ consensus forecasts for the quarter.

TSMC shares rose about 1% after the earnings release but later pared those gains as a sell-off in AI-related shares weighed on benchmarks across Asia during Thursday’s session.

Expanding US manufacturing

Alongside the results, TSMC said it would spend an additional $100 billion (€87.4bn) to expand its manufacturing capacity in the US, on top of the $165 billion (€144bn) already committed to building six fabrication plants in Arizona.

The move would bring the company’s total US investment pledges to around $265 billion (€231bn).

The fresh funds are expected to fund four further Arizona plants dedicated to the most advanced chips, those of 2 nanometres and below, and are intended to “support the strong multi-year demand” from the company’s leading American customers, CEO Che-Chia Wei said during the firm’s earnings conference.

TSMC also said it would spend more this year than previously planned, increasing its capital expenditure budget to between $60 billion (€52.4bn) and $64 billion (€55.9bn), up from an earlier range of $52 billion (€45.4bn) to $56 billion (€48.9bn).

The announcement follows a trade agreement struck earlier this year between the Trump administration and Taiwan, under which Taiwanese companies committed to invest at least $250 billion (€218bn) in the US technology sector inreturn for lower tariffs.

Additional sources • AP

Published on 07/07/2026 – 11:28 GMT+2•Updated
11:34

The South Korean technology giant Samsung said on Tuesday it expects operating profit of about 89.4 trillion won (€51bn) for the April-June quarter, roughly nineteen times the 4.7tr won (€2.7bn) it earned a year earlier and more than it made in the previous three years combined.

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The extraordinary numbers reflect the same force reshaping the memory industry worldwide: the race to build AI data centres has pushed chip prices to record highs.

According to Citi Research, average selling prices for DRAM memory rose 44% quarter on quarter, and NAND flash 53%, as AI demand spilled beyond specialised high-bandwidth memory into the conventional chips that go into phones, servers and PCs, with customers now chasing longer-term supply contracts.

The estimate beat analyst forecasts, but far from celebrating, the market sold.

Samsung shares fell by over 10% before closing nearly 7% lower, dragging rival SK Hynix and the wider Kospi index down with them.

Samsung’s stock has more than doubled this year alone, so a historic quarter was already priced in, and leveraged local ETF products tracking the shares have made them prone to outsized moves.

There was also a blemish in the numbers as revenue of 171tr won (€97.6bn), though up 129% year on year, came in slightly below forecasts.

“We believe the slight revenue miss was largely driven by more moderate DRAM price hikes than expected, which likely spooked investors who are increasingly pricing in structural strength in memory prices,” said Jing Jie Yu, an analyst at Morningstar.

Hanging over everything is durability.

Investors are increasingly asking whether the technology giants bankrolling the AI build-out can sustain their spending without piling up debt against a payoff that remains unproven, the worry behind last week’s chip sell-off across Asia.

Samsung publishes its full results, with a breakdown by division, on 30 July, a report the market will scour for clues about whether the boom is structural or simply another memory cycle nearing its peak.

Additional sources • AP

July 3 (UPI) — South Korea’s biopharmaceutical company Celltrion said Friday that its sales amounted to $840 million in the second quarter of this year, up 35.2% from a year earlier.

The firm noted that its operating income for the April-June period jumped 77.3% year-on-year to reach $280 million, lifting its operating profit margin to 33% from 25% a year ago.

Celltrion attributed the solid performance to an improved product mix and lower manufacturing costs. In particular, its newly launched products accounted for more than 60% of total revenue during the latest three months.

On the cost side, Celltrion said that profitability has gotbetter following the completion of post-merger integration. In late 2023, the Incheon-based company, located west of Seoul, merged with its sales affiliate, Celltrion Healthcare.

Celltrion expects growth momentum to strengthen in the second half, when the biosimilar industry typically benefits from increased government procurement deliveries and year-end inventory replenishment.

The company also plans to further broaden its pipeline of biosimilars and novel drugs beyond its current portfolio.

“This performance shows that our efforts to expand new products and improve profitability are beginning to deliver meaningful results, “Celltrion said in a statement.

“We expect stronger participation in major national tenders and continued growth from new products, which will be reflected more fully in the second half,” it added.

The share price of Celltrion rose 3.96% on the Seoul bourse on Friday, while the benchmark KOSPI gained 5.76%.

Published on
25/06/2026 – 10:43 GMT+2

Micron, one of only a handful of companies able to make advanced memory chips at scale, said on Wednesday that revenue in the third quarter reached $41.4 billion (€36.5bn), more than four times the $9.3 billion (€8.2bn) it recorded in the same period last year.

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The figure also comfortably beat the roughly $35.7 billion (€31.4bn) analysts had forecast, while profit climbed even more dramatically.

The Idaho-based group posted net income of $28.24 billion (€24.9bn), or $24.67 per share, against less than $2 billion (€1.7bn) a year ago. Adjusted earnings of $25.11 a share sailed past the $20.49 expected.

The market reaction to the impressive results was immediate.

Micron shares rose more than 15% in after-hours trading to around $1,213, leaving the company valued at roughly $1.16 trillion (€1tn).

The stock has now climbed about 700% over the past year, one of the most dramatic re-ratings of any large company through the AI boom, reflecting a fundamental shift in the economics of the AI build-out.

The vast data centres being constructed by hyperscalers such as Amazon, Microsoft, Google and Meta, which have collectively earmarked hundreds of billions of dollars in capital spending this year, depend on enormous quantities of high-bandwidth memory, a specialised chip that sits alongside the processors made by Nvidia and others.

Micron has said its entire 2026 output of these chips is already sold out under fixed-price contracts.

According to CEO Sanjay Mehrotra, the results reflect what he called the strategic value of memory in the AI era.

The company pointed to a series of multi-year customer agreements that it expects to make earnings more durable and predictable, a notable claim in an industry long defined by brutal boom-and-bust cycles.

Margins to rival the biggest names

What has startled analysts most is Micron’s profitability.

The company reported a gross margin of around 85% for the quarter, a level that now rivals or exceeds those of far larger technology names such as Nvidia and Meta, an extraordinary position for a memory maker historically squeezed by volatile chip prices.

The tightness of supply, with new factories not expected to add meaningful output until 2028, has handed producers exceptional pricing power.

Micron’s guidance was more striking still.

The company expects revenue of around $50 billion (€44bn) in the current quarter and adjusted earnings of roughly $31 a share, implying the boom is accelerating rather than fading. It is ramping up investment to match, lifting planned capital spending to about $27 billion (€23.7bn) this fiscal year and signalling a further jump in 2027, management told analysts during the earnings call.

The results offer reassurance to investors betting that AI infrastructure spending remains robust, with Micron’s order book serving as a real-time gauge of that demand.

The open question, as ever in the memory industry, is how long the upswing can last before supply catches up. Even the most bullish observers acknowledge that risk has not completely disappeared.