French Open has extra incentive for Nadal, Djokovic, Williams as tournament prize money swells

The French Open has announced an 8 percent increase in its prize money this year. The French Open will be the next stop for Tennis on its Grand Slam calendar when it begins on May 26, with the tournament concluding with the men’s singles final on June 9th. The most significant increase in prize money on offer has come in the amounts offered for players who exit in the early rounds. A special effort has been made for the qualifying rounds, whose prize money has risen by an average of nearly 15 pe


The French Open has announced an 8 percent increase in its prize money this year. The French Open will be the next stop for Tennis on its Grand Slam calendar when it begins on May 26, with the tournament concluding with the men’s singles final on June 9th. The most significant increase in prize money on offer has come in the amounts offered for players who exit in the early rounds. A special effort has been made for the qualifying rounds, whose prize money has risen by an average of nearly 15 pe
French Open has extra incentive for Nadal, Djokovic, Williams as tournament prize money swells Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: adam reed, gonzalo fuentes
Keywords: news, cnbc, companies, swells, williams, mens, money, french, incentive, prize, tournament, euros, nadal, extra, round, increase, singles, players, open


French Open has extra incentive for Nadal, Djokovic, Williams as tournament prize money swells

The French Open has announced an 8 percent increase in its prize money this year.

The 2019 prize pot at the Roland Garros tournament has swelled by 8 per cent compared with 2018, to reach a total of 42,661,000 euros ($48.4 million), according to an official release published Friday.

The French Open will be the next stop for Tennis on its Grand Slam calendar when it begins on May 26, with the tournament concluding with the men’s singles final on June 9th.

Rafael Nadal and Simona Halep are the defending men’s and women’s singles champions and the clay court event has had a further boost this year with the news Roger Federer will be in the draw for the first time since 2015.

The most significant increase in prize money on offer has come in the amounts offered for players who exit in the early rounds.

Those who are beaten in “week 1” of the tournament will see a significant increase in their earnings, over 10 percent, on average, from the opening round to the Round of 16.

The loser of any first round match will still receive 46,000 euros, which is still considerably less than the 2.3 million euros the male or female champion will receive.

The President of the French Tennis Federation, Bernard Giudicelli, and the Tournament Director, Guy Forget said last week they wanted to continue narrowing the gap between the amounts awarded to the tournament winners, in both the women’s and men’s singles events and to the players who are knocked out in the first round.

A special effort has been made for the qualifying rounds, whose prize money has risen by an average of nearly 15 per cent. Players who now make it as far as the final qualifying round, but not into the main draw itself stand to earn 24,000 euros.


Company: cnbc, Activity: cnbc, Date: 2019-03-25  Authors: adam reed, gonzalo fuentes
Keywords: news, cnbc, companies, swells, williams, mens, money, french, incentive, prize, tournament, euros, nadal, extra, round, increase, singles, players, open


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Germany is forcing a marriage that may not work

Deutsche Bank has lost 600 billion euros of its assets and down more than 60 percent in terms of market capitalization. Commerzbank on the other hand has gained around 100 billion pounds or so in its total assets but lost half of its market cap. A merger would give Deutsche Bank and Commerzbank access to nearly 1.9 trillion euros of total assets and the German government seems to want to step on the accelerator to get this done. All along, the three have been reaffirming their faith in Deutsche


Deutsche Bank has lost 600 billion euros of its assets and down more than 60 percent in terms of market capitalization. Commerzbank on the other hand has gained around 100 billion pounds or so in its total assets but lost half of its market cap. A merger would give Deutsche Bank and Commerzbank access to nearly 1.9 trillion euros of total assets and the German government seems to want to step on the accelerator to get this done. All along, the three have been reaffirming their faith in Deutsche
Germany is forcing a marriage that may not work Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: spriha srivastava, frank rumpenhorst, dpa, getty images
Keywords: news, cnbc, companies, work, euros, marriage, market, merger, bank, total, germany, trillion, billion, forcing, banks, deutsche, assets


Germany is forcing a marriage that may not work

Back in 2007, Deutsche Bank had its own balance sheet of 2 trillion euros ($2.25 trillion) and a market capitalization of nearly 50 billion euros, compared to Commerzbank’s relatively humble total assets of 270 billion euros and a market cap of 17 billion euros. Over the last ten years the gap has narrowed.

Deutsche Bank has lost 600 billion euros of its assets and down more than 60 percent in terms of market capitalization. Commerzbank on the other hand has gained around 100 billion pounds or so in its total assets but lost half of its market cap.

A merger would give Deutsche Bank and Commerzbank access to nearly 1.9 trillion euros of total assets and the German government seems to want to step on the accelerator to get this done.

But any tie-up would likely be viewed as an embarrassment for the likes of John Cryan, the former CEO of Deutsche Bank, Christian Sewing, the bank’s current boss and Peter Altmaier, the German economy minister. All along, the three have been reaffirming their faith in Deutsche Bank’s strategy and its position as one of Europe’s strongest banks.

Sewing took over as CEO in April last year and in September he said that the bank may consider merger talks once it has boosted its profitability over the next 18 months. Little did Sewing know that he would be pressured into merger talks even before the end of this 18-month period.

While the merger will give Deutsche Bank access to a much bigger balance sheet, it could also mean a multi-billion euro financial hole because it would force the re-valuation of the lenders’ assets and a risk of 30,000 jobs being cut.

The merger, if it were to happen, will be embedded with certain caveats. The German government still owns about 15 percent of Commerzbank and a merger would mean a bigger say from the government in the bank’s dealings. It could also mean the banks may be pressured to be more risk averse in their dealings as compared to ten years ago.


Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: spriha srivastava, frank rumpenhorst, dpa, getty images
Keywords: news, cnbc, companies, work, euros, marriage, market, merger, bank, total, germany, trillion, billion, forcing, banks, deutsche, assets


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Generali beats 2018 targets despite ‘challenging’ Italian market, raises dividend

“But when people do not invest because the economy is not growing, the life insurance business and asset management is growing.” Donnet also claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors. Generali has reserved up to 4 billion euros for acquisitions and growth as it looks to asset management and high-margin business in Latin America and Asia. Clarification: This story has been updated to reflect that Donnet claimed that Generali’s 59 billion euros in Ital


“But when people do not invest because the economy is not growing, the life insurance business and asset management is growing.” Donnet also claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors. Generali has reserved up to 4 billion euros for acquisitions and growth as it looks to asset management and high-margin business in Latin America and Asia. Clarification: This story has been updated to reflect that Donnet claimed that Generali’s 59 billion euros in Ital
Generali beats 2018 targets despite ‘challenging’ Italian market, raises dividend Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: reuters with cnbccom, pier marco tacca, getty images
Keywords: news, cnbc, companies, management, euros, despite, 2018, generalis, growing, targets, dividend, billion, market, business, beats, reflect, raises, generali, challenging, btps, economy, italian


Generali beats 2018 targets despite 'challenging' Italian market, raises dividend

Europe’s third-largest insurer said it would pay a dividend of 0.90 euros per share, up from the previous year’s 0.85 euros.

When it came to a potential European slowdown in 2019, however, Donnet said Generali was not concerned. He explained that people sought out the solutions Generali provided whether the economy was booming or lagging.

“Our business is very resilient, because when people do invest and the economy is growing, the property and casualty business is growing,” he said. “But when people do not invest because the economy is not growing, the life insurance business and asset management is growing.”

However he noted heavy competition in its domestic market, especially with motor insurance, adding that it was “challenging.”

“In Italy and France, by the way, we had to face very important claims … which obviously had a significant impact on the operating result,” he added.

Donnet also claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors.

“(Investors) do not struggle any more on this — we have demonstrated that we have a strong capital position. We have further increased our solvency ratio by 9 percentage points, so our exposure to BTPs is no longer an issue,” he told CNBC.

Generali has reserved up to 4 billion euros for acquisitions and growth as it looks to asset management and high-margin business in Latin America and Asia.

Clarification: This story has been updated to reflect that Donnet claimed that Generali’s 59 billion euros in Italian BTPs was not a concern to investors. The headline has also been changed on this story to more accurately reflect Generali’s earnings release.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: reuters with cnbccom, pier marco tacca, getty images
Keywords: news, cnbc, companies, management, euros, despite, 2018, generalis, growing, targets, dividend, billion, market, business, beats, reflect, raises, generali, challenging, btps, economy, italian


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Cristiano Ronaldo’s goal-scoring heroics sends Juventus shares soaring 17 percent

“This was why Juventus brought me here,” remarked Portuguese soccer star Cristiano Ronaldo after he dragged his side back from a two-goal deficit and into the Champions League quarter-finals. It last won Europe’s premier club soccer competition in 1996. That cash is added to the 9.5 million euros the Italian club received for reaching the last 16. The Turin-based club paid 100 million euros to Spanish club Real Madrid to secure Ronaldo’s transfer last summer. He turned 34 years old in February,


“This was why Juventus brought me here,” remarked Portuguese soccer star Cristiano Ronaldo after he dragged his side back from a two-goal deficit and into the Champions League quarter-finals. It last won Europe’s premier club soccer competition in 1996. That cash is added to the 9.5 million euros the Italian club received for reaching the last 16. The Turin-based club paid 100 million euros to Spanish club Real Madrid to secure Ronaldo’s transfer last summer. He turned 34 years old in February,
Cristiano Ronaldo’s goal-scoring heroics sends Juventus shares soaring 17 percent Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: adam reed, marco rosi, getty images sport, getty images
Keywords: news, cnbc, companies, soccer, cristiano, sends, heroics, euros, champions, madrid, million, italian, shares, club, goalscoring, 17, soaring, league, juventus, ronaldos


Cristiano Ronaldo's goal-scoring heroics sends Juventus shares soaring 17 percent

“This was why Juventus brought me here,” remarked Portuguese soccer star Cristiano Ronaldo after he dragged his side back from a two-goal deficit and into the Champions League quarter-finals.

He may have been referring to his goals on the soccer field, but the knock-on effect will no doubt please the owners of his current employers Juventus.

Following the result, the club’s share price rose sharply Wednesday, opening 20 percent higher and was still up by 17 percent at 2:30 p.m. London time.

Ronaldo’s impact in Tuesday night’s win — a stunning hat-trick against Atletico Madrid — earned the Italian champions about 10.5 million euros ($11.8 million) in additional payments for making the last eight of the Champions League. It last won Europe’s premier club soccer competition in 1996.

That cash is added to the 9.5 million euros the Italian club received for reaching the last 16.

Juventus are controlled by Exor, the investment holding of Italy’s Agnelli family, which owns nearly 64 percent of the soccer team.

The Turin-based club paid 100 million euros to Spanish club Real Madrid to secure Ronaldo’s transfer last summer. In the 24 hours following the deal being announced, Juventus had sold over half a million replica shirts with Ronaldo’s name and number seven.

He turned 34 years old in February, but has just over three years to run on his current Juventus contract, which pays him 30 million euros a year.


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: adam reed, marco rosi, getty images sport, getty images
Keywords: news, cnbc, companies, soccer, cristiano, sends, heroics, euros, champions, madrid, million, italian, shares, club, goalscoring, 17, soaring, league, juventus, ronaldos


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Bayer adjusted profit gains 15.8% on Monsanto, consumer health

Bayer’s adjusted core earnings rose 15.8 percent in the fourth quarter, boosted by the addition of U.S. seeds maker Monsanto and as its consumer healthcare business bounced back from earlier declines. Fourth-quarter adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose to 2.07 billion euros, the maker of pharmaceuticals and farming pesticides said on Wednesday, beating the average analyst projection of 2.0 billion euros. Previously announced write-downs on the val


Bayer’s adjusted core earnings rose 15.8 percent in the fourth quarter, boosted by the addition of U.S. seeds maker Monsanto and as its consumer healthcare business bounced back from earlier declines. Fourth-quarter adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose to 2.07 billion euros, the maker of pharmaceuticals and farming pesticides said on Wednesday, beating the average analyst projection of 2.0 billion euros. Previously announced write-downs on the val
Bayer adjusted profit gains 15.8% on Monsanto, consumer health Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: krisztian bocsi, bloomberg, getty images
Keywords: news, cnbc, companies, profit, earnings, 158, value, health, euros, consumer, bayer, gains, adjusted, billion, rose, maker, taxes, monsanto, writedowns


Bayer adjusted profit gains 15.8% on Monsanto, consumer health

Bayer’s adjusted core earnings rose 15.8 percent in the fourth quarter, boosted by the addition of U.S. seeds maker Monsanto and as its consumer healthcare business bounced back from earlier declines.

Fourth-quarter adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose to 2.07 billion euros, the maker of pharmaceuticals and farming pesticides said on Wednesday, beating the average analyst projection of 2.0 billion euros.

Previously announced write-downs on the value of consumer health brands and one-off charges from the closure of a German hemophilia drug plant led to a quarterly net loss of 3.9 billion euros.


Company: cnbc, Activity: cnbc, Date: 2019-02-27  Authors: krisztian bocsi, bloomberg, getty images
Keywords: news, cnbc, companies, profit, earnings, 158, value, health, euros, consumer, bayer, gains, adjusted, billion, rose, maker, taxes, monsanto, writedowns


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French court fines UBS 4.5 billion euros in tax fraud case

A French court on Wednesday found Swiss bank UBS AG guilty of illegally soliciting clients in France and laundering the proceeds of tax evasion, and ordered it to pay 4.5 billion euros ($5.10 billion) in penalties. The penalties, almost equivalent to the bank’s net profit last year, included a 3.7 billion euro fine and additional damages of 800 million euros to the French state. UBS has set aside $2.46 billion to cover potential losses from litigation and regulatory requirements. The French tria


A French court on Wednesday found Swiss bank UBS AG guilty of illegally soliciting clients in France and laundering the proceeds of tax evasion, and ordered it to pay 4.5 billion euros ($5.10 billion) in penalties. The penalties, almost equivalent to the bank’s net profit last year, included a 3.7 billion euro fine and additional damages of 800 million euros to the French state. UBS has set aside $2.46 billion to cover potential losses from litigation and regulatory requirements. The French tria
French court fines UBS 4.5 billion euros in tax fraud case Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: fabrice coffrini, afp, getty images
Keywords: news, cnbc, companies, fines, court, french, 45, net, billion, case, million, ubs, fine, tax, profit, euros, euro, fraud


French court fines UBS 4.5 billion euros in tax fraud case

A French court on Wednesday found Swiss bank UBS AG guilty of illegally soliciting clients in France and laundering the proceeds of tax evasion, and ordered it to pay 4.5 billion euros ($5.10 billion) in penalties.

Shares in UBS fell 2 percent. A lawyer for UBS said the bank would appeal the ruling.

The penalties, almost equivalent to the bank’s net profit last year, included a 3.7 billion euro fine and additional damages of 800 million euros to the French state.

UBS has denied any wrongdoing. An appeal could see the case drag on for years, analysts say.

UBS has set aside $2.46 billion to cover potential losses from litigation and regulatory requirements.

The French trial follows a similar case in the United States, where UBS accepted a $780 million settlement in 2009, and in Germany, where it agreed to a 300 million euro fine in 2014. UBS last month reported a 2018 net profit of $4.9 billion.

($1 = 0.8821 euros)


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: fabrice coffrini, afp, getty images
Keywords: news, cnbc, companies, fines, court, french, 45, net, billion, case, million, ubs, fine, tax, profit, euros, euro, fraud


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Greece to reduce 50 billion euros of bad loans by 2021, CEO of one of the largest bank says

The high level of bad loans in Greece is still the biggest issue that the embattled economy needs to focus on, the head of Piraeus Bank told CNBC Monday. The southern European economy has taken several steps to bring down the level of bad loans or NPLs (non-performing loans) – loans that are in or close to default. Christos Megalou, CEO of Piraeus Bank, told CNBC that there has been a “significant improvement” in this area. “The four systemic banks have agreed among themselves to reduce the non-


The high level of bad loans in Greece is still the biggest issue that the embattled economy needs to focus on, the head of Piraeus Bank told CNBC Monday. The southern European economy has taken several steps to bring down the level of bad loans or NPLs (non-performing loans) – loans that are in or close to default. Christos Megalou, CEO of Piraeus Bank, told CNBC that there has been a “significant improvement” in this area. “The four systemic banks have agreed among themselves to reduce the non-
Greece to reduce 50 billion euros of bad loans by 2021, CEO of one of the largest bank says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: silvia amaro, bloomberg, getty images, kostas tsironis
Keywords: news, cnbc, companies, largest, bad, greece, nonperforming, euros, loans, 50, significant, bank, banks, piraeus, ceo, percentage, reduce, billion, told, npls, level


Greece to reduce 50 billion euros of bad loans by 2021, CEO of one of the largest bank says

The high level of bad loans in Greece is still the biggest issue that the embattled economy needs to focus on, the head of Piraeus Bank told CNBC Monday.

The southern European economy has taken several steps to bring down the level of bad loans or NPLs (non-performing loans) – loans that are in or close to default.

Greek banks have the highest NPL ratio across the euro zone at 44.8 percent, according to the most recent figures from the European Parliament. This is a much higher percentage than Italy’s, which stood at 9.7 percent.

Christos Megalou, CEO of Piraeus Bank, told CNBC that there has been a “significant improvement” in this area. But “I would like to see even more in reducing the amount of NPLs in the banks’ balance sheets.”.

“The four systemic banks have agreed among themselves to reduce the non-performing loans between now and 2021 by 50 billion euros ($56 billion). 50 billion is almost 28 percent of the GDP of this country. It is a significant percentage vis-a-vis the actual percentage being produced by this country. I would like to see this happening and I would be very happy if we are able to achieve these targets as we have set ourselves out to achieve,” he said in Athens.


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: silvia amaro, bloomberg, getty images, kostas tsironis
Keywords: news, cnbc, companies, largest, bad, greece, nonperforming, euros, loans, 50, significant, bank, banks, piraeus, ceo, percentage, reduce, billion, told, npls, level


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Allianz fourth-quarter net profit up 19 percent, in line with expectations

German insurer Allianz said on Friday that net profit rose 19 percent in the fourth quarter from a year earlier, in line with expectations. Net profit attributable to shareholders of 1.697 billion euros ($1.92 billion) compares with the 1.715 billion euro profit forecast by analysts in a Reuters poll and is up from 1.427 billion euros a year ago. Speaking to CNBC’s “Squawk Box Europe” on Friday, Allianz CFO Giulio Terzariol said: “In our performance in 2018 we have been very capable (of managing


German insurer Allianz said on Friday that net profit rose 19 percent in the fourth quarter from a year earlier, in line with expectations. Net profit attributable to shareholders of 1.697 billion euros ($1.92 billion) compares with the 1.715 billion euro profit forecast by analysts in a Reuters poll and is up from 1.427 billion euros a year ago. Speaking to CNBC’s “Squawk Box Europe” on Friday, Allianz CFO Giulio Terzariol said: “In our performance in 2018 we have been very capable (of managing
Allianz fourth-quarter net profit up 19 percent, in line with expectations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: getty images
Keywords: news, cnbc, companies, euros, profit, allianz, terzariol, net, europe, line, fourthquarter, 19, weve, billion, interest, unadjustedbecause, expectations, rates


Allianz fourth-quarter net profit up 19 percent, in line with expectations

German insurer Allianz said on Friday that net profit rose 19 percent in the fourth quarter from a year earlier, in line with expectations.

Net profit attributable to shareholders of 1.697 billion euros ($1.92 billion) compares with the 1.715 billion euro profit forecast by analysts in a Reuters poll and is up from 1.427 billion euros a year ago.

Speaking to CNBC’s “Squawk Box Europe” on Friday, Allianz CFO Giulio Terzariol said: “In our performance in 2018 we have been very capable (of managing) headwinds to achieve record results on most of our KPIs.”

He added that the bank expected the ECB to leave interest rates unadjusted.

“Because of the tension we might have – let’s say Italy and Brexit – and because of the economy we would expect interest rates to stay relatively flat in Europe, which is not necessarily an issue for us because we’ve been in this situation for a few years,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: getty images
Keywords: news, cnbc, companies, euros, profit, allianz, terzariol, net, europe, line, fourthquarter, 19, weve, billion, interest, unadjustedbecause, expectations, rates


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Credit Agricole’s fourth-quarter profits rise more than expected, meets targets a year early

French bank Credit Agricole booked a higher than expected net profit in the fourth quarter of last year and met its profit goals set for 2019 a year ahead of target. The bank said its fourth quarter net profit more than doubled to 1 billion euros ($1.13 billion) up from 387 million euros in the same period a year earlier, when the bank had to book almost 400 million in charges related to exceptional taxes. Analysts polled by Infront Data expected a 795 million profit during the quarter. Credit A


French bank Credit Agricole booked a higher than expected net profit in the fourth quarter of last year and met its profit goals set for 2019 a year ahead of target. The bank said its fourth quarter net profit more than doubled to 1 billion euros ($1.13 billion) up from 387 million euros in the same period a year earlier, when the bank had to book almost 400 million in charges related to exceptional taxes. Analysts polled by Infront Data expected a 795 million profit during the quarter. Credit A
Credit Agricole’s fourth-quarter profits rise more than expected, meets targets a year early Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: jaap arriens, nurphoto, getty images
Keywords: news, cnbc, companies, profits, revenue, early, set, targets, million, agricoles, fourthquarter, credit, bank, euros, quarter, profit, expected, net, fourth, rise, meets


Credit Agricole's fourth-quarter profits rise more than expected, meets targets a year early

French bank Credit Agricole booked a higher than expected net profit in the fourth quarter of last year and met its profit goals set for 2019 a year ahead of target.

The bank said its fourth quarter net profit more than doubled to 1 billion euros ($1.13 billion) up from 387 million euros in the same period a year earlier, when the bank had to book almost 400 million in charges related to exceptional taxes.

Analysts polled by Infront Data expected a 795 million profit during the quarter.

Credit Agricole said it surpassed targets set three years ago for 2019 on profitability and revenue growth. The bank’s revenue grew by an average 4.3 percent a year in 2016-2018, while return on tangible equity rose to 12.7 percent.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: jaap arriens, nurphoto, getty images
Keywords: news, cnbc, companies, profits, revenue, early, set, targets, million, agricoles, fourthquarter, credit, bank, euros, quarter, profit, expected, net, fourth, rise, meets


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Airbus’ fourth quarter profits rise and beat expectations

Airbus on Thursday posted stronger than expected fourth-quarter results overshadowed by a decision to close its flagship A380 program, while forecasting higher aircraft deliveries and profits in 2019. Revenues rose 11 percent to 23.286 billion euros. Analysts had expected quarterly adjusted operating income of 2.292 billion euros on revenues of 22.372 billion, according to a survey carried out for Reuters. An Airbus-compiled consensus pointed to core income of 2.36 billion euros on revenues of 2


Airbus on Thursday posted stronger than expected fourth-quarter results overshadowed by a decision to close its flagship A380 program, while forecasting higher aircraft deliveries and profits in 2019. Revenues rose 11 percent to 23.286 billion euros. Analysts had expected quarterly adjusted operating income of 2.292 billion euros on revenues of 22.372 billion, according to a survey carried out for Reuters. An Airbus-compiled consensus pointed to core income of 2.36 billion euros on revenues of 2
Airbus’ fourth quarter profits rise and beat expectations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: nicolas economou, nurphoto, getty images
Keywords: news, cnbc, companies, profits, posted, income, higher, operating, billion, expectations, euros, quarter, profit, deliveries, airbus, beat, quarterly, fourth, revenues, rise


Airbus' fourth quarter profits rise and beat expectations

Airbus on Thursday posted stronger than expected fourth-quarter results overshadowed by a decision to close its flagship A380 program, while forecasting higher aircraft deliveries and profits in 2019.

Europe’s largest aerospace group posted quarterly adjusted operating profit of 3.096 billion euros ($3.5 billion), up 56 percent from the same period in the previous year, after accelerating jetliner deliveries in the last three months to make up for earlier delays.

Revenues rose 11 percent to 23.286 billion euros. Analysts had expected quarterly adjusted operating income of 2.292 billion euros on revenues of 22.372 billion, according to a survey carried out for Reuters. An Airbus-compiled consensus pointed to core income of 2.36 billion euros on revenues of 22.818 billion.

Airbus predicted 880-890 commercial aircraft deliveries and a 15 percent higher operating profit in 2019.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: nicolas economou, nurphoto, getty images
Keywords: news, cnbc, companies, profits, posted, income, higher, operating, billion, expectations, euros, quarter, profit, deliveries, airbus, beat, quarterly, fourth, revenues, rise


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