Fri, Jul 21, 2017 - Page 10 News List

World Business Quick Take

Agencies

CHIPMAKERS

Qualcomm profits tumble

Qualcomm Inc, the biggest maker of chips used in mobile phones, forecast steep declines in profit and licensing sales, underscoring its dependence on the royalties that one of its largest customers, Apple Inc, has stopped paying. Sales in the company’s licensing division, which collects fees for use of its mobile technology, will sink as much as 47 percent in the current period to as little as US$1 billion, the company said on Wednesday. That will drag down overall revenue by as much as 13 percent in the quarter, which ends in September. The guidance excludes patent fees related to products from Apple and another customer whose contract is in dispute.

SOFTWARE

SAP raises revenue outlook

Software giant SAP SE yesterday raised its annual revenue outlook and said it would buy back up to US$500 million in stock after reporting a better-than-expected jump in sales, lifted by a revamped version of its flagship software. The German maker of applications that run businesses’ finances, manufacturing and personnel is projecting sales of 23.3 billion euros to 23.7 billion euros (US$26.8 billion to US$27.2 billion) this year, based on constant currencies. That is up about a 100 million euros on both ends of its prior forecast. SAP is about to start a share buyback of up to 500 million euros this year and it is raising its outlook for cloud and software revenue.

CONSUMER PRODUCTS

Unilever reports sales hike

Unilever PLC, the owner of brands like Hellman’s, Lipton, and Knorr, yesterday said its net profit rose 22.4 percent in the first half of this year compared with the same period last year, to 3.3 billion euros as a company-wide growth program bore fruit. Unilever said that first-half sales rose 5.5 percent to 27.7 billion euros, calling its earnings a “substantial step-up in profitability despite the persisting volatile global trading environment.” The strong results came in a period in which rival consumer products giant Kraft Heinz withdrew a US$143 billion takeover offer.

JAPAN

Trade surplus rebounds

The nation logged a trade surplus of nearly US$4 billion last month, rebounding from a deficit the previous month, but its politically sensitive surplus with the US slipped, government data showed yesterday. The world’s third-largest economy logged a surplus of ¥439.9 billion (US$3.92 billion), down 35.9 percent from the same month a year earlier, according to data from the finance ministry. Overall exports last month rose 9.7 percent from a year earlier to ¥6.61 trillion, marking the seventh consecutive monthly rise. Imports expanded 15.5 percent to ¥6.17 trillion, logging the sixth straight monthly increase.

AUSTRALIA

Record rise in employment

The nation recorded the biggest back-to-back increase in full-time hiring in 29 years as the center of its mining boom showed signs of exiting a protracted investment slump. Government data released yesterday showed employment advanced 14,000 last month from May, compared with economists’ forecast of a 15,000 gain, as the jobless rate rose to 5.6 percent. Full-time jobs surged by 62,000 after a 53,400 gain in May, the biggest two-month increase since January 1988, while part-time roles fell 48,000, data showed. The labor participation rate rose to 65 percent from 64.9 percent.

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