Xiaomi announced that the heaviest pressures on its smartphone business have likely passed, even as second-quarter earnings missed analyst projections due to elevated component prices. High memory costs severely squeezed margins across its mobile division, but management expects cost inflation to temper throughout the second half of the year as its fast-growing electric vehicle (EV)…
Tecnotree Delivers Double-Digit Profit Growth and Accelerated Deployment Momentum in H1 2026 Tecnotree, a global leader in AI-native Digital Business Support Systems (BSS) and digital platform solutions for the telecommunications industry, today announced its financial results for the first half of 2026. The company delivered growth across every principal financial measure, expanded operating margin by…
False payment declines are eroding bank revenue and customer loyalty. (Image created via ChatGPT) South African banks are losing significant amounts of interchange revenue as legitimate card transactions are increasingly incorrectly declined by outdated fraud detection systems. This is one of the key findings of a new report by payment technology provider BPC. It examines…
Britain’s BP on Tuesday reported a sharp upswing in second-quarter profit, as energy supermajors reap massive profits from higher fossil fuel prices amid hostilities between the U.S. and Iran. The oil giant posted underlying replacement cost profit, used as a proxy for net profit, of $5.7 billion for the April to June period. That comfortably…
Naspers reported an 84% increase in profitability for the year ended 31 March 2026, supported by growth across its digital platforms portfolio and continued investment in artificial intelligence. Naspers’ logo is pictured on a smartphone in this illustration taken, 4 December 2021. Reuters/Dado Ruvic/Illustration The group said ecosystem adjusted EBITDA increased to $1.3bn, while free…
The Foschini Group’s online business was one of the few bright spots in a bruising financial year, with its Bash platform driving a 49.2% surge in e-commerce sales across its South African operation even as group profit slumped and the retailer took R1-billion in write-downs against its offshore brands. TFG, the JSE-listed owner of brands…
Reunert CEO Anthonie de Beer. Image: Reunert JSE-listed industrial and technology group Reunert posted a 23% decline in operating profit for the six months to 31 March 2026, with weakness in its power cable businesses overshadowing solid performances from its ICT and Applied Electronics segments and a 41% jump in operating profit at its Defence…
The Samsung exhibition stand features the prominent ”A new era of mobile agentic AI” slogan by the South Korean company Samsung Electronics. Joan Cros | Nurphoto | Getty Images Samsung Electronics reported an over eight-fold increase in first-quarter operating profits on Thursday, hitting a new record and beating analysts’ estimates on the explosive growth of…
A SK Hynix flag (R) and a South Korean national flag (L) flutter outside the company’s Bundang office in Seongnam on Jan. 26, 2024. Jung Yeon-je | Afp | Getty Images South Korean memory chip giant SK Hynix posted yet another quarter of record profit and revenue on Thursday, as prices for its products continue…
Rhys Summerton, iOCO CEO. (Graphic by Nicola Mawson, with official collateral) JSE-listed iOCO this morning reported profit of R180 million, an increase of 45.6%, from revenue of R2.8 billion in the first half, as its three-step strategy starts to bear fruit. As part of this strategy, iOCO made its first acquisition in eight years, says…
