Meta profits soar but costs of AI cause worry
Facebook-owner Meta on Wednesday said its quarterly profits soared last quarter, but worries about the cost of artificial intelligence saw its share price take a hit on Wall Street.
Apr 25, 2024
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Facebook-owner Meta on Wednesday said its quarterly profits soared last quarter, but worries about the cost of artificial intelligence saw its share price take a hit on Wall Street.
Apr 25, 2024
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Shares in Dutch tech giant ASML, which supplies chip-making machines to the semiconductor industry, slumped Wednesday after the firm reported a drop in net profits and orders amid a high-tech trade spat between China and ...
Apr 17, 2024
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Chinese battery and automotive giant BYD achieved a record profit in 2023, annual results showed Tuesday, despite fierce competition in the country as demand for electric vehicles grows.
Mar 26, 2024
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Wireless and fixed-network equipment maker Nokia on Thursday reported a smaller-than-expected profit and a double-digit fall in sales in the first quarter due to a market weakened by a lack of clients investing in 5G technology.
Apr 18, 2024
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Taiwanese semiconductor giant TSMC announced Thursday a nearly 9 percent increase in net profits in the first quarter of 2024, buoyed by global demand for its microchips used to power everything from mobile phones to AI technology.
Apr 18, 2024
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South Korean regulators are investigating the hugely popular Chinese shopping app Temu on suspicion of false advertising and unfair practices, the Yonhap news agency reported Monday.
Apr 8, 2024
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In business and finance accounting, net profit is equal to the gross profit minus overheads minus interest payable plus/minus one off items for a given time period (usually: accounting period).
A common synonym for "net profit" when discussing financial statements (which include a balance sheet and an income statement) is the bottom line. This term results from the traditional appearance of an income statement which shows all allocated revenues and expenses over a specified time period with the resulting summation on the bottom line of the report.
In simplistic terms, net profit is the money left over after paying all the expenses of an endeavor. In practice this can get very complex in large organizations or endeavors. The bookkeeper or accountant must itemise and allocate revenues and expenses properly to the specific working scope and context in which the term is applied.
Definitions of the term can however vary between the UK and US. In the US, net profit is often associated with net income or profit after tax (see table below).
The net margin percentage is a related ratio. This figure is calculated by dividing net profit by turnover, and it represents profitability, as a percentage.
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