Thu, Oct 29, 2015 - Page 15 News List

World Business Quick Take

Agencies

VIDEO GAMES

Nintendo’s sales boost profit

Nintendo Co yesterday posted a ¥3.17 billion (US$26.3 million) profit for the fiscal second quarter, buoyed by sales growth of portable video game machines and software titles. The Japanese maker of the Super Mario and Pokemon video games, said July-September sales rose 18 percent to ¥113.96 billion, allowing it to stay in the black for the second quarter in a row. The company reported a ¥8.97 billion operating profit for the fiscal first half compared with a loss of ¥215 million a year earlier. It left its annual profit forecast unchanged at ¥35 billion.

BREWERS

Heineken beats estimates

Heineken NV, the world’s third-largest brewer, reported third-quarter sales growth that beat analysts’ estimates as good weather in Europe spurred consumers to buy more beer. Revenue increased 7.5 percent, the Amsterdam-based company said yesterday. Analysts expected 3.9 percent growth, according to the median of 14 estimates. Beer volume rose 5.4 percent, compared with the 2.6 percent gain predicted by analysts. The company expects to “continue to deliver positive top and bottom line growth,” chief executive Jean-Francois van Boxmeer said in a statement.

INTERNET

Twitter reports slim growth

Twitter Inc on Tuesday reported slim growth in its user base and a disappointing outlook. The social network said its loss in the third quarter narrowed to US$132 million from US$175 million in the same period last year. For its base of users, Twitter reported 320 million monthly active users — only modestly up from 316 million in the previous quarter and 11 percent higher than the previous year. Revenues grew 58 percent year-on-year to US$569 million, in line with its recent lowered forecast. However, the outlook for the coming quarter was for revenue in the range of US$695 million to US$710 million — well below most analysts’ expectations of US$740 million.

TECHNOLOGY

IBM under investigation

IBM Corp on Tuesday said that federal regulators are investigating its accounting of some of its business transactions in the US, the UK and Ireland. The company made the disclosure in a filing with securities regulators, saying it learned of the investigation in August. IBM said in the filing that it is cooperating with the probe, which is focused on the way the commercial technology giant reported revenue for certain transactions. IBM declined to provide further details, but issued a statement that said it “has a rigorous and disciplined process for the preparation of its financial statements and the reporting of revenue.”

AUSTRALIA

Inflation lower than expected

Inflation came in at a lower-than-expected 0.5 percent in the third quarter, official figures showed yesterday, boosting hopes that the central bank will cut interest rates next week. The Consumer Price Index (CPI) reading follows a 0.7 percent increase in the three months to June and brings the rise through the year to 1.5 percent, the Australian Bureau of Statistics said. Expectations had been for a CPI rise of 0.7 percent for the quarter and 1.7 percent year-on-year, with economists agreeing that the surprisingly weak data boosted the rate cut argument.

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