Apple’s recent quarter results were slightly weaker than expected, with a turnover of $90.8 billion and a net profit of $24.2 billion. Despite a decrease in revenue and net profit, managing director Tim Cook remains optimistic about future growth, particularly with investments in artificial intelligence. Apple’s shares have fallen by around ten percent this year due to factors like weakening demand for iPhones and increased competition in China, which accounts for a fifth of Apple’s sales.
On the other hand, the Eurozone economy has shown signs of strengthening, with inflation slowing down according to data from Eurostat. Total inflation remained at 2.4 percent in April, while core inflation and service inflation saw a decrease. Remedy, a game company, also saw improvements in its financial performance, with a smaller operating loss and increased turnover.
Nokian Tires, a vehicle tire manufacturer, experienced a weakening in profitability at the beginning of the year, with a loss in operating result despite an increase in turnover. Meanwhile, gaming company Supercell’s founder Ilkka Paananen has been appointed to the board of Lego, along with the product director of Google’s YouTube studio.
In other news, cargo and load handling company Cargotec reported an increase in comparable operating profit in the first quarter, while oil refiner Neste announced a change in leadership with CEO Matti Lehmus leaving his position. Danish drug manufacturer Novo Nordisk reported a strong result in the first quarter, driven by its slimming and diabetes drugs.
Courier service company Wolt has initiated change negotiations to renew its organizational structure and ensure operational efficiency. Doordash, which Wolt is a part of, experienced a decline in sales at the beginning of the year.