Friday 13 December 2019

Apple posts $4.64 for fourth quarter


APPLE, the maker of the iPhone and iPad, had fourth-quarter earnings of $4.64 a share.

The average analyst estimate in a Bloomberg survey was $4.10. The company posted fourth-quarter revenue of $20.34 billion, above the average analyst estimate of $18.9 billion.

Apple forecast first-quarter revenue of about $23 billion, higher than the estimate of $22.3 billion.

O2 chief executive Gray to step down

DANUTA Gray is to step down as chief executive of O2 Ireland after nine years, it was announced yesterday. She will be succeeded on December 1 by Stephen Shurrock, the current consumer sales director with O2 UK. Ms Gray will become part-time non-executive chairman of O2 Ireland as well as undertaking an advisory role within O2's parent company, Telefonica Europe. Matthew Key, chief executive of Telefonica Europe, said: "Danuta has successfully led our Irish business from the outset -- constantly changing and adapting to the fast paced and competitive market."

Circle Oil issues operations update

OIL and gas explorer Circle Oil yesterday issued an operational update on its activities in northern Africa. At the NW Gemsa development lease in Egypt, preparations for testing in the exploration/appraisal well Al Ola-1X are in their final stages. At the Sebou Permit in Morocco, the exploration well KAB-1 has been drilled. Significant gas shows were observed at expected levels during the drilling of the well and wireline logging and pressure sampling tools were prepared for formation evaluation.

Rio Tinto and BHP abandon merger

MINING giants Rio Tinto and BHP Billiton yesterday abandoned a controversial merger of their Australian iron ore operations after anti-competition complaints from regulators and top customers, including China. The Anglo-Australian companies, both among the world's top three miners, said they were disappointed at the collapse of the $116bn (€83bn) deal, which was set to save $10bn in shared costs. Rio Tinto said the European Commission, Australia, Japan, South Korea and Germany had all refused to approve the deal.

Irish Independent

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