SoftBank posts ¥1.1 trillion quarterly loss after US data center setback
The Japanese technology investor recorded a $3.7 billion loss tied to equipment spending for revised AI infrastructure projects.
Singapore Airlines' half-year profit falls nearly 44% as fuel costs rise
Net profit of S$134 million exceeded the Visible Alpha consensus of S$65.3 million, while revenue increased 16.8%.
Singapore Airlines reported S$134 million in half-year net profit on November 11, a decline of nearly 44% from S$239 million a year earlier, as higher jet fuel costs weighed on earnings.
Spending increased more than 20% to S$10.73 billion. Fuel costs before hedging climbed over 90%, accounting for much of the rise in expenditure.
The company said jet fuel averaged $171 per barrel during the six-month period, an increase of 86.7% from a year earlier amid the Middle East conflict. A weaker first-quarter performance also contributed to the profit decline.
Narrower losses attributable to Air India and other associates partly cushioned the impact. Singapore Airlines' share of Air India's losses decreased to S$361.7 million, compared with S$429.5 million in the corresponding period a year earlier.
First-half revenue reached S$11.30 billion, up 16.8% year over year. Despite the earnings decline, net profit was above the S$65.3 million consensus compiled by Visible Alpha.