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  • Business
    Reuters

    STMicro cuts FY revenue outlook as slowing car demand bites

    The company, whose clients include Tesla and Apple, said it expects revenue in the range of $14 billion to $15 billion for 2024, down from its previous forecast range of $15.9 billion to $16.9 billion. Analysts polled by LSEG were expecting revenue of $16.1 billion for the year.

  • Business
    Reuters

    BNP Paribas profit tops estimates on lower costs and global banking

    BNP Paribas reported a fall in first-quarter profit and revenue on Thursday but beat analyst forecasts, as lower expenses and a strong performance in its corporate banking business offset flat or falling revenues elsewhere. The euro zone's biggest bank said group net income over the first three months of the year declined by 2.2% from a year earlier to 3.10 billion euros ($3.31 billion), beating the 2.4 billion-euro average of 19 analyst estimates compiled by the company. Revenues over the period came in at 12.5 billion euros, down 0.4% but also above the average analyst estimate of 12.2 billion euros.

  • Business
    Bloomberg

    Deutsche Bank’s Investment Bankers Step Up as Rate Boost Fades

    (Bloomberg) -- Deutsche Bank AG relied on its traders and investment bankers to make up for a slowdown in income from lending, as Chief Executive Officer Christian Sewing seeks to deliver on an ambitious revenue goal.Most Read from BloombergBiden’s Gains Against Trump Vanish on Deep Economic Pessimism, Poll ShowsZuckerberg Asks for Patience After Meta’s AI Push Irks InvestorsTaylor Swift Is Proof That How We Critique Music Is BrokenTech Giants Hit in Late Hours After Meta’s Outlook: Markets Wrap

  • Business
    Reuters

    Equinor Q1 profit beats forecast

    OSLO (Reuters) -Equinor on Thursday posted higher-than-expected profits for the first quarter and said this was driven by high production in its native Norway and strong operational performance. The Norwegian oil and gas producer's adjusted earnings before tax for January-March fell to $7.53 billion from $11.92 billion a year earlier amid lower gas prices, beating the $7.2 billion seen in a poll of 22 analysts compiled by Equinor. The decline in gas prices was only partially offset by production growth and increased oil prices, the company said.