BBVA Group 9-month Adj. Profit Rises – Quick Facts
The BBVA Group (BBVA) reported net attributable profit, excluding non-recurring impacts, of 3.73 billion euros for the nine month period of 2021, a year-on-year increase of 84.9%. Excluding non-recurring impacts, earning per share was 0.52 euros compared to 0.26 euros.
Including the non-recurring impacts, net attributable profit was 3.31 billion euros, compared to a loss of 15 million euros, last year which was severely affected by the effects of the COVID-19 pandemic. Profit per share was 0.46 euros compared to a loss of 0.05 euros.
For the nine month period, net interest income was 10.71 billion euros, up 2.5% at constant exchange rates, due to the good performance in South America and Mexico, which offset the poor evolution in Turkey, Spain and Rest of Business. Net fees and commissions rose 19.2% to 3.52 billion euros.
Gold Dips On Dollar Strength
Gold prices eased on Friday and the dollar ticked higher as investors looked for further guidance from the Federal Reserve’s upcoming policy meet.
Spot gold dipped 0.2 percent to $1,795.13 per ounce, while U.S. gold futures were down 0.3 percent at $1,796.85.
Amid a global inflation surge, the Fed is likely to announce its plan next week for scaling back, or tapering, its $120 billion in monthly bond purchases.
Flash data from Eurostat showed earlier today that Eurozone inflation accelerated sharply to the highest since 2008 on higher energy prices.
Inflation rose to 4.1 percent in October from 3.4 percent in September. This was also faster than the economists’ forecast of 3.7 percent. A similar higher rate was last registered in July 2008.
“While inflation will take longer to decline than previously expected, we expect these factors to ease in the course of next year,” European Central Bank President Christine Lagarde told a news conference on Thursday following the ECB’s policy meeting.
NY AG Letitia James, who oversaw Cuomo sex-harassment investigation, announces bid for governor
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New York Attorney General Letitia James, who oversaw the investigation into sexual harassment allegations against former Gov. Andrew Cuomo among other cases, announced Friday that she’s running for governor.
“New Yorkers need a governor who isn’t afraid to stand up to powerful interests on behalf of the vulnerable. Throughout my career, I’ve taken on big forces and New Yorkers know I will never back down when it comes to fighting for them,” James said in a statement. “Today, I am proud to announce my candidacy for governor of New York so we can bring transformational change that uplifts all New Yorkers.”
The move, which was forecasted this week, came just one day after prosecutors filed a misdemeanor charge against Cuomo for alleged forcible touching, a charge that carried a potential one-year prison sentence.
This is a developing story; check back for updates.
European Economics Preview: Germany Ifo Business Confidence Data Due
Business confidence survey data from Germany is due on Monday, headlining a light day for the European economic news.
At 3.00 AM ET, business confidence survey results are due from the Czech Statistical Office. Also, manufacturing sentiment survey data is due from Turkey.
At 4.00 am ET, ifo Institute is scheduled to issue Germany’s business confidence survey data. Economists expect the business climate index to fall to 97.9 in October from 98.8 in September.
In the meantime, unemployment report is due from Poland. The jobless rate is seen falling to 5.7 percent in September from 5.8 percent in August.
At 6.00 am ET, Bundesbank is set to publish its monthly report.
Cerner Increases Full-Year Guidance – Quick Facts
While reporting third-quarter results on Friday, Cerner Corporation (CERN) increased its full year guidance. During the third quarter, the company delivered revenue growth, expanded adjusted operating margin by 150 basis points and increased adjusted earnings per share by nearly 20%.
For the fourth quarter, Cerner currently expects revenue to grow upper-mid-single digits. Adjusted EPS growth is estimated in a range of 10% to 13%.
For the full year, Cerner currently expects revenue growth to approximately 5%, consistent with prior guidance for mid-single-digit growth. Adjusted EPS is estimated at $3.30, compared to prior guidance of approximately $3.25. Full year free cash flow is estimated more than $950 million, compared to prior guidance of approximately $900 million.
Analysts polled by Thomson Reuters expect the company to report profit per share of $3.26. Analysts’ estimates typically exclude special items.
Third quarter adjusted EPS was $0.86, up 19% compared to $0.72. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.82, for the quarter. Net profit was $175.80 million or $0.59 per share compared to $356.68 million or $1.16 per share.
Revenue was $1.47 billion, up 7% from a year ago. Analysts on average had estimated $1.45 billion in revenue.
Aon plc Q3 adjusted earnings Beat Estimates
Below are the earnings highlights for Aon plc (AON):
-Earnings: -$900 million in Q3 vs. $275 million in the same period last year.
-EPS: -$3.99 in Q3 vs. $1.18 in the same period last year.
-Excluding items, Aon plc reported adjusted earnings of $395 million or $1.74 per share for the period.
-Analysts projected $1.70 per share
-Revenue: $2.70 billion in Q3 vs. $2.39 billion in the same period last year.