Nokia to Cut Thousands of Jobs as Profit Plummets
Nokia launched a plan to cut as many as 14,000 jobs as it seeks to save up to EUR1.2 billion after it posted a 45% fall in profit in the third quarter.
Nestle Reports Sales Miss
Nestle’s organic sales rose by a less-than-expected 7.8% in the first nine months driven by price increases as inflation remained high, but backed its full-year outlook.
SAP Backs Guidance After Third-Quarter Revenue Boost
The software company confirmed its guidance for the year after posting higher revenue and operating profit for the third quarter, led by growth at its core cloud business.
Merck Sees Return to Sales Growth in 2024
Germany’s Merck said it expected to return to organic sales growth next year after a broadly flat performance in 2023, helped by reduced Covid-19 headwinds and recovering demand for semiconductor materials.
Chinese-Owned Pork Producer Smithfield Prepares for U.S. Listing
WH Group, the Chinese parent of pork giant Smithfield Foods, is working with banks to take the 87-year-old business public again in the U.S.
TSMC’s Profit Fell on Weaker Demand for Smartphones, High-Speed Computing
The world’s largest contract chip maker said third-quarter net profit declined 25% from a year earlier.
Netflix Plans Price Increase as Password-Sharing Crackdown Boosts Subscriber Growth
The company says that the Hollywood strikes will lead to lower content spending, more free cash flow this year.
Tesla’s Musk Warns of Cybertruck Challenges
The EV maker reported bigger-than-expected drop in third-quarter profits.
Honda, GM and Cruise to Begin Driverless Ride Service in Tokyo in 2026
General Motors, its self-driving unit, Cruise, and Honda plan to begin offering a driverless ride service in Japan in early 2026.
Disney Sheds New Light on ESPN’s Financial Challenges
Profits from Disney’s sports segment, home to ESPN, declined 20% in the first nine months of its fiscal year, according to a new filing that offers a clearer look at the toll cord-cutting is taking on the business.
Source: Dow Jones Newswires