Finance

BorgWarner Posts 10% Earning Hike

October 25, 2018 at 5:43 PM

BorgWarner Inc.’s third quarter revenue and net income rose 3% to $2.5 billion and 10% to $204 million, respectively.

Daimler’s Net Profit Slides 21%

October 25, 2018 at 10:41 AM

Daimler AG’s net profit in the third quarter fell to €1.8 billion ($2 billion) from €2.2 billion in the same period last year.

Hyundai’s Quarterly Earnings Plunge 68%

October 25, 2018 at 2:20 AM

Hyundai Motor Co. reports its net profit in July-September plummeted 68% to 269 billion won ($236 million) year on year.

Tesla Reports a $312 Million Net Profit

October 24, 2018 at 6:32 PM

Tesla Inc. generated a net income of $312 million in the third quarter as revenue from automotive operations soared 82% to a record-high $6.1 billion.

Ford’s Quarterly Earnings Plunge 37%

October 24, 2018 at 4:39 PM

Ford Motor Co.’s third-quarter revenue rose 3% to $37.6 billion. But a slump in China caused net income to shrink to $991 million from nearly $1.6 billion in the same period last year.

Subaru Cuts First-Half Profit Forecast by 45%

October 23, 2018 at 12:02 PM

Subaru Inc. says the cost of domestic recalls will slash its first-half operating profit in April-September to 61 billion yen ($544 million), down 45% from its previous guidance.

Gentex Quarterly Profit Jumps 23%

October 19, 2018 at 3:20 PM

Electronic rearview mirror supplier Gentex Corp. reports its net earnings climbed to $111 million in the third quarter from $90 million in the same period last year.

Daimler Issues Second Profit Warning

October 19, 2018 at 2:55 PM

Daimler AG has lowered its financial guidance for the second time in four months, citing recall costs and diesel emission compliance issues.

Chinese Autonomous Driving Tech Startup Raises $1 Billion

October 18, 2018 at 9:20 AM

Momenta, a Beijing-based startup specializing in autonomous vehicle software, says it has secured more than $1 billion in its latest funding round.

Uber IPO Estimated at $120 Billion

October 16, 2018 at 2:35 PM

Uber Technologies Inc. has received proposals from banks for an initial public stock offering valued at $120 billion, The Wall Street Journal reports.

U.K. Developers Seek Investors for Speed Record Attempt

October 15, 2018 at 11:05 AM

Bloodhound Programme Ltd., the U.K.-based company that aims to break the land speed record, has gone into administration and says it needs to raise £25 million ($32.9 million) to continue operations.

BMW: U.S.-China Trade War Could Cut Earnings €500 Billion

October 15, 2018 at 1:40 AM

BMW AG estimates that its earnings could drop €500 million ($578 million) in 2019 is the trade war between the U.S. and China persists.