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Baidu beats sales estimates after Chinese search leader holds off ByteDance

Baidu Inc.’s quarterly revenue beat analysts’ estimates after China’s biggest search giant managed to hold onto advertising despite a challenge from aggressive rivals like ByteDance Inc.Revenue rose 1.4 per cent to 26.33 billion yuan ($3.84 billion) for the three months ended June 30, beating the 25.8 billion yuan average of analysts’ estimates. The company’s shares rose 8.4 per cent in extended trading.China Internet Report 2019Baidu’s better-than-expected results will soothe investors’… Source link

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JD.com beats estimates with strong second-quarter sales, rebounding from loss a year ago

Chinese e-commerce giant JD.com on Tuesday reported better-than-expected second-quarter revenue, boosted by stronger sales in its online retail business, sending its shares 5 per cent higher in pre-market trading.The Beijing-based company’s revenue rose 23 per cent year on year to 150.3 billion yuan (US$21.3 billion) in the quarter ended June 30. That was ahead of analysts’ forecast revenue of 147.49 billion yuan, according to IBES data from Refinitiv.Net income reached 618.8 million yuan, up… Source link

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Standard Chartered’s first half profit declines 6 per cent, beats analysts expectations

Standard Chartered said on Thursday that its profit declined 6 per cent in the first half of the year, as weaker investor activity weighed on its wealth management business, particularly in its retail banking segment.The bank, one of three lenders authorised to issue Hong Kong’s currency notes, reported a profit of US$1.49 billion in the first half, compared with US$1.59 billion in the same period a year ago.The bank also took a charge of US$204 million for regulatory matters after it agreed to… Source link

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French cosmetics maker L’Occitane’s profit beats expectations as sales strategy pay off

L’Occitane International reported a 21.8 per cent growth in annual net profit on the back of strong sales, handily beating estimates.The Hong Kong-listed French cosmetics said on Monday that profit attributed to shareholders stood at €117.6 million (US$131.88 million) for the year ended March compared to €96.5 million a year earlier. Analysts polled by Bloomberg had a consensus estimate of 14.5 per cent growth in net profit to €108.33 million.Net sales jumped 8.7 per cent to €1.42 billion,… Source link

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Singapore 

Singapore beats Sweden, South Korea to top list of 176 as best country for children, Singapore News

For the second year in a row, Singapore has been ranked the top country in the world for a child to live in. The annual Global Childhood Report, to be released today by non-governmental organisation Save The Children, has the Republic beating eight Western European nations and South Korea – the only other Asian country in the top 10 list – to clinch the top spot out of 176 countries, in terms of providing healthcare, education, nutrition and protection for its children. Singapore scored 989 out of 1,000 in the…

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Ecommerce 

Tencent Music profit beats estimates as paid subscribers continue to sign up for service

China’s Tencent Music Entertainment Group beat Wall Street estimates for quarterly profit on Monday, as more users paid for its music streaming services.The company, controlled by Chinese tech giant Tencent Holdings, said paid users of its online music service jumped 27.4 per cent to 28.4 million in the first quarter ended March 31.“As our users increasingly consume music content through streaming services, we are riding on this trend to gradually transition into a pay-for-streaming model over… Source link

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Hong Kong’s benchmark stock index bursts through 30,000 points again as HSBC profit beats estimates

Hong Kong stocks rose on Friday after HSBC beat estimates with its first-quarter earnings, the benchmark Hang Seng Index finishing above the key 30,000-point level.The gauge added 0.5 per cent to close at 30,081.55, bringing the week’s gains to 1.6 per cent, the largest increase in four weeks.Turnover in the market stood at HK$66.9 billion (US$8.5 billion), well below the daily average of HK$110.6 billion achieved in March. The mainland Chinese markets remained closed for the Labour Day public… Source link

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Apple forecast beats Wall Street estimates as iPhone demand stabilises

Apple projected quarterly sales that topped analysts’ estimates, suggesting demand for iPhones has stabilised after a disappointing holiday period. Shares of the mobile technology giant rose about 5 per cent in extended trading.The company also reported Services revenue grew 16 per cent as consumers sign up for an expanding smorgasbord of digital subscriptions. That was just ahead of Wall Street expectations. A new buyback plan also helped.“IPhone clearly was in line or a little bit above… Source link

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Chinese sportswear giant Li-Ning’s shares surge close to eight-year high as profit beats estimates

Shares of Chinese sports brand Li-Ning sailed close to an eight-year high on Friday after the company beat full-year earnings expectations.The eponymous brand, founded by a former top Chinese Olympic gymnast in 1989, on Friday posted net profit of 715.26 million yuan (US$10.68 million) for 2018, up 39 per cent from the year before and beating the average estimate of 707.32 million by analysts polled by Bloomberg.Revenue rose 18 per cent to 10.51 billion yuan, beating predictions of 10.32… Source link

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Manila beats Boston, Paris, Tokyo as world’s hottest luxury home market

Manila is the hottest luxury home market in the world, beating out the likes of Boston, Tokyo and Paris, property consultancy Knight Frank said.Luxury prices shot up 11 per cent in 2018, as the capital city of the Philippines got a boost from a robust economy, shortage of luxury homes and increased appetite for them by wealthy foreigners living there.The ranking of 100 cities is based solely on how much their luxury home prices increased last year.The only other Asian city in the top 10 list… Source link

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