News updates from July 25: US economy grows 2.8% in second quarter; Ackman slashes IPO fundraising target

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Financial Times 2d ago

News updates from July 25: US economy grows 2.8% in second quarter; Ackman slashes IPO fundraising target - Financial Times

Quick Summary:

Net income for the second quarter was $854mn or $3.11 per share, compared with $459mn or $1.70 per share for the same period last year, the Miami-based company said on Thursday.“These results were better than the company’s guidance due to stronger pricing . . . and continued strength in onboard revenue,” the company said in a statement.

Second quarter sales by the Birkin bag maker grew 13.3 per cent at constant exchange rates in the second quarter for a total of €3.7bn, in line with expectations compiled by Reuters.

Ford Motor missed Wall Street’s expectations on earnings per share by 22 cents in the second quarter, sending shares down nearly 12 per cent in after-hours trading.