Latest news with #ThomasSchinecker
Qatar Tribune
24-07-2025
- Business
- Qatar Tribune
Some bright spots emerge in corporate earnings despite tariffs
Agencies Some of the world's top tech firms, including U.S. tech giant Alphabet, South Korean chipmaker SK Hynix and Indian IT services provider Infosys, have provided upbeat guidance in their latest earnings reports, setting aside uncertainty originating from changing U.S. trade policy. Corporate operations have been overshadowed by erratic U.S. trade action that has upended supply chains and left firms to navigate fluid tariffs on top of broader economic uncertainties such as regulatory change and currency tech titans Alphabet, SK Hynix and Infosys – which all reported earnings that beat market forecasts – predicted brighter days to come, with Alphabet and SK Hynix both flagging plans to boost spending. Nvidia supplier SK Hynix booked a record quarterly profit, boosted by strong demand for artificial intelligence chips and customers stockpiling ahead of potential U.S. tariffs. Indian IT services provider Infosys raised the floor of its annual revenue forecast range to 1% to 3%, from flat to 3%, matching analyst expectations. In Europe, Swiss drugmaker Roche reported a better-than-expected first-half operating profit on Thursday and said it is in close contact with the U.S. government on tariffs. It said it has ramped up inventories in the United States in case tariffs do come into effect to avoid any initial impact. 'We hope that the U.S. government then also sees with all the investments that we and other companies are making, that the companies are intending to produce the medicines that are needed in the U.S. for the U.S. also in locations in the U.S.,' said CEO Thomas Schinecker. Nestle, the world's biggest packaged food company, also on Thursday posted better-than-expected first-half organic sales growth and maintained its 2025 outlook. The upbeat earnings and guidance amounted to a bright spot in a turbulent second-quarter earnings season that has seen businesses as varied as chipmakers and steelmakers report downbeat results. Companies have reported over July 16-22 a combined full-year loss of as much as $7.8 billion, with the automotive, aerospace and pharmaceutical sectors being hurt most by Korea's Hyundai Motor on Thursday posted a 16% decline in second-quarter operating profit as U.S. tariffs on vehicles and parts started to weigh on its bottom line. The automaker said U.S. tariffs cost it 828 billion won ($606.5 million) in the second quarter and that it expects tariffs to have a bigger impact in the current Motors said tariffs knocked $1.1 billion from second-quarter earnings. On Wednesday, Tesla Chief Executive Elon Musk said U.S. government cuts in support for electric vehicle makers could lead to a 'few rough quarters,' as his firm reported its worst quarterly sales decline in over a that the U.S. had struck a deal with Japan to lower new tariffs on auto imports and spare it punishing levies on other goods lifted stock markets on Wednesday. It stirred hope for a similar deal with the European Union ahead of August 1, when the U.S. said new tariffs will go into effect. The European Union is moving toward a trade deal that could include a 15% U.S. baseline tariff on EU goods and possible exemptions, two European diplomats surprise on Thursday was South Korea's finance ministry saying tariff negotiations had been postponed due to a scheduling conflict for U.S. Treasury Secretary Scott Bessent. The announcement cast doubt about whether South Korea would be able to avert U.S. import duties that could hit some of its major exporting industries. All eyes are on Washington as governments scramble to close trade deals ahead of next week's deadline that the White House has already pushed back under pressure from markets and intense lobbying by the Japan deal has eased investor worry, the threat of higher tariffs on other large economies remains, including the European Union, Canada and Brazil. An EU-China summit on Thursday will test European resolve and unity as the bloc faces trade pressure from both China as well as the United States, while U.S. Treasury Secretary Scott Bessent meets Chinese officials in Sweden next week.
Fashion Network
24-07-2025
- Business
- Fashion Network
Roche confirms guidance as H1 core operating profit up 6%
Swiss drugmaker Roche reported a better-than-expected first-half operating profit on Thursday, which was up 6% due to strong sales growth from breast cancer drug Phesgo and allergy treatment Xolair. Roche reported operating profit at 12 billion Swiss francs ($15.15 billion), above forecasts for around 11.7 billion, driven by higher sales and effective cost management, it said. Roche added that the appreciation of the franc against the U.S. dollar had an adverse impact on results reported in francs compared with constant exchange rates. At currency-adjusted rates, profit was up 11%. "We are confident in our continued strong momentum and resilience of our business due to our innovative on-market portfolio and pipeline," said CEO Thomas Schinecker. He said Roche was still targeting an increase in full-year adjusted earnings per share at a high single-digit percentage. Diagnostics division sales were stable at 7 billion francs, Roche said, citing growing demand for pathology solutions and blood screening tests as offsetting the effect of China's healthcare pricing reforms. Headquartered in Basel, Switzerland, Roche owns skincare brand La Roche-Posay. The label's products include cleansers, moisturisers, and sunscreens.
Fashion Network
24-07-2025
- Business
- Fashion Network
Roche confirms guidance as H1 core operating profit up 6%
Swiss drugmaker Roche reported a better-than-expected first-half operating profit on Thursday, which was up 6% due to strong sales growth from breast cancer drug Phesgo and allergy treatment Xolair. Roche reported operating profit at 12 billion Swiss francs ($15.15 billion), above forecasts for around 11.7 billion, driven by higher sales and effective cost management, it said. Roche added that the appreciation of the franc against the U.S. dollar had an adverse impact on results reported in francs compared with constant exchange rates. At currency-adjusted rates, profit was up 11%. "We are confident in our continued strong momentum and resilience of our business due to our innovative on-market portfolio and pipeline," said CEO Thomas Schinecker. He said Roche was still targeting an increase in full-year adjusted earnings per share at a high single-digit percentage. Diagnostics division sales were stable at 7 billion francs, Roche said, citing growing demand for pathology solutions and blood screening tests as offsetting the effect of China's healthcare pricing reforms. Headquartered in Basel, Switzerland, Roche owns skincare brand La Roche-Posay. The label's products include cleansers, moisturisers, and sunscreens. © Thomson Reuters 2025 All rights reserved.
Fashion Network
24-07-2025
- Business
- Fashion Network
Roche confirms guidance as H1 core operating profit up 6%
Swiss drugmaker Roche reported a better-than-expected first-half operating profit on Thursday, which was up 6% due to strong sales growth from breast cancer drug Phesgo and allergy treatment Xolair. Roche reported operating profit at 12 billion Swiss francs ($15.15 billion), above forecasts for around 11.7 billion, driven by higher sales and effective cost management, it said. Roche added that the appreciation of the franc against the U.S. dollar had an adverse impact on results reported in francs compared with constant exchange rates. At currency-adjusted rates, profit was up 11%. "We are confident in our continued strong momentum and resilience of our business due to our innovative on-market portfolio and pipeline," said CEO Thomas Schinecker. He said Roche was still targeting an increase in full-year adjusted earnings per share at a high single-digit percentage. Diagnostics division sales were stable at 7 billion francs, Roche said, citing growing demand for pathology solutions and blood screening tests as offsetting the effect of China's healthcare pricing reforms. Headquartered in Basel, Switzerland, Roche owns skincare brand La Roche-Posay. The label's products include cleansers, moisturisers, and sunscreens. © Thomson Reuters 2025 All rights reserved.
Fashion Network
24-07-2025
- Business
- Fashion Network
Roche confirms guidance as H1 core operating profit up 6%
Swiss drugmaker Roche reported a better-than-expected first-half operating profit on Thursday, which was up 6% due to strong sales growth from breast cancer drug Phesgo and allergy treatment Xolair. Roche reported operating profit at 12 billion Swiss francs ($15.15 billion), above forecasts for around 11.7 billion, driven by higher sales and effective cost management, it said. Roche added that the appreciation of the franc against the U.S. dollar had an adverse impact on results reported in francs compared with constant exchange rates. At currency-adjusted rates, profit was up 11%. "We are confident in our continued strong momentum and resilience of our business due to our innovative on-market portfolio and pipeline," said CEO Thomas Schinecker. He said Roche was still targeting an increase in full-year adjusted earnings per share at a high single-digit percentage. Diagnostics division sales were stable at 7 billion francs, Roche said, citing growing demand for pathology solutions and blood screening tests as offsetting the effect of China's healthcare pricing reforms. Headquartered in Basel, Switzerland, Roche owns skincare brand La Roche-Posay. The label's products include cleansers, moisturisers, and sunscreens. © Thomson Reuters 2025 All rights reserved.
