Sat, Oct 29, 2011 - Page 10 News List

World Business Quick Take

Agencies

CELLPHONES

Motorola Mobility posts loss

Motorola Mobility Holdings Inc, which makes cellphones and cable set-top boxes, reported a smaller loss in the latest quarter as phone shipments rose by a quarter from a year ago. Motorola Mobility on Thursday said it had a net loss of US$32 million, or US$0.11 per share, in the third quarter, which ended Oct. 1. That compares with a loss of US$34 million a year ago, when the company was still part of Motorola Inc. Motorola split into two companies in January. Excluding one-time items, the company earned US$0.12 per share, double what analysts polled by FactSet expected. Revenue rose 11 percent to US$3.3 billion, slightly lower than analyst estimates. The bulk of this came from phone revenue, which rose 20 percent to US$2.4 billion.

AVIATION

All Nippon profit up 72%

All Nippon Airways yesterday said its first-half interim net profit jumped 72.1 percent as brisk international services offset the impact of the March 11 disaster on domestic flights. The Japanese carrier, which operated the maiden commercial flight of Boeing’s 787 Dreamliner earlier this week, said group net profit in the April-to-September period was ¥22.9 billion (US$302 million), up from ¥13.3 billion for the same period last year. First-half revenue rose 3 percent from a year earlier to ¥704.8 billion, while operating profit fell 11.8 percent to ¥50.1 billion, it said.

INTERNET

Baidu sees strong Q4

Top Chinese search engine Baidu Inc forecast strong sales that topped Wall Street estimates, after reporting robust quarterly earnings, shrugging off concerns that a weak economy could hit advertisers. Baidu said it expects fourth-quarter revenue of US$691.4 million to US$711.0 million, above analysts’ forecasts of US$649.5 million according to Thomson Reuters I/B/E/S.

For the third quarter, Baidu reported net income of US$295 million, or US$0.84 per share. On an adjusted basis, the company earned US$0.86 a share. Total revenue rose 85 percent to US$654.7 million, above its own forecast of US$611.1 million to US$626.6 million.

ENERGY

Soaring crude boosts Total

French oil company Total yesterday said soaring crude prices boosted its third-quarter profits despite a weak dollar. It saw its net profit rise to 3.3 billion euros (US$4.6 billion) in the third quarter, up 17 percent from the same period last year. Revenue was 46.2 billion euros in July to September, up from 40.2 billion euros last year. Total said it was expecting its solid growth to continue, thanks to the start of production in a new Pazflor offshore field in Angola and several new discoveries in the quarter.

CHIPMAKERS

AMD shares rise on forecast

Advanced Micro Devices Inc’s (AMD) shares rose in extended trading on Thursday after the chipmaker forecast sales that may top some analysts’ estimates, citing laptop demand in emerging markets. Revenue in the current period will increase as much as 5 percent from the third quarter, AMD said in a statement on Thursday. That indicates sales as high as US$1.77 billion. Analysts on average had projected US$1.71 billion, according to Bloomberg data. Third-quarter net income was US$97 million, or US$0.13 a share, compared with a loss of US$118 million, or US$0.17, a year earlier. Sales were US$1.69 billion, 4.4 percent higher than a year earlier and up 7.4 percent from the prior period, AMD said.

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