AT&T beats expectations
Telecoms firm AT&T posted higher than expected second quarter earnings yesterday. Gross profit was at $3.9bn, up from $3.59bn a year before. Customers waiting for the new iPhone postponed upgrades in the last quarter, falling to six per cent from seven per cent.
Europe drags on Whirlpool
Household appliance maker Whirlpool was hit by anemic Eurozone demand as its quarterly results yesterday showed sales falling 4.6 per cent. Sales were especially hit in the EMEA region, falling to $692m from $841m a year earlier.
UPS cuts its outlook
Global courier UPS said yesterday earnings rose in the second quarter but came in below estimates due to Eurozone woes and weakening Asian trade. Net earnings were $1.12bn from $1.09bn a year earlier, and the firm pared back its full year forecasts.
Western Union income rises
The world’s largest payment transfer company Western Union reported a second-quarter profit above analysts’ estimates yesterday as it was boosted by higher revenue from its business solutions segment. Net income rose to $271.2m from $263.2m a year earlier.