Siemens annual profits up despite supply chain snags

German industrial giant Siemens reported a jump in yearly net profit on Thursday despite a fourth quarter troubled by global supply chain issues that the company predicts will improve next year.

Automotive

Nissan triples profit forecast despite chip crunch

Nissan tripled its full-year net profit forecast on Tuesday as it rebounded from the impact of the pandemic with a strong quarterly performance, saying it expected to withstand challenges including the chip crunch and rising ...

Business

Nintendo's profit drops from last year's pandemic boom

Japanese video game maker Nintendo's profit dropped 19% in the first half of its fiscal year from the previous year, when it received a big lift as people stuck at home by the coronavirus pandemic turned to its products.

Business

Apple's strong quarter suffers $6B blow from supply shortage

Apple's iPhone sales soared yet again in the past quarter, but didn't grow as rapidly as analysts anticipated because of supply shortages that have made it more difficult to meet the demand for a wide range of products.

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Fiscal year

A fiscal year (or financial year, or sometimes budget year) is a period used for calculating annual ("yearly") financial statements in businesses and other organizations. In many jurisdictions, regulatory laws regarding accounting and taxation require such reports once per twelve months, but do not require that the period reported on constitutes a calendar year (i.e., January through December). Fiscal years vary between businesses and countries.

In addition, many companies find that it is convenient for purposes of comparison and for accurate stock taking to always end their fiscal year on the same day of the week, where local legislation permits. Thus some fiscal years will have 52 weeks and others 53. Major corporations that adopt this approach include Cisco Systems and Tesco.[citation needed]

In the United Kingdom, a number of major corporations that were once government owned, such as BT Group and the National Grid, continue to use the government's financial year, which ends on the last day of March, as they have found no reason to change since privatisation.

Nevertheless, the fiscal year is identical to the calendar year for about 65% of publicly traded companies in the United States and for a majority of large corporations in the UK and elsewhere (with notable exceptions Australia, New Zealand and Japan).[citation needed]

Many universities have a fiscal year which ends during the summer, both to align the fiscal year with the school year, and because the school is normally less busy during the summer months.

Some media/communication based organizations use a Broadcast calendar as the basis for their fiscal year.

This text uses material from Wikipedia, licensed under CC BY-SA