Exxon Vaults to Record Annual Profit of $55.7 Billion

Only Apple and Microsoft so far have surpassed Exxon's fiscal 2022 profit as the oil giant capitalized on high commodity prices.

 
Paramount+ and Showtime to integrate content, rebrand later this year

Media giant Paramount Global Inc. on Monday announced it plans to merge its Paramount+ streaming service with its premium cable channel, Showtime.

 
CEO of Penguin Random House U.S. Steps Down

Madeline McIntosh is the third top executive to leave the company in the past two months.

 
GM's Profit Soars as Supply-Chain Problems Ease

The auto maker said strong results in North America helped offset weakness in China to lift its net profit during the October-to-December period to $2 billion.

 
Pfizer Expects Drop in Revenue as Vaccine Demand Wanes

The drugmaker said revenue from Covid-19 products is slated to reach a low point this year due to a significant government stockpile on hand.

 
Caterpillar Sales Rise 20% on Strong Demand

Demand for construction and mining equipment as well as engines for transportation and energy generation stayed strong even as the company charged higher prices.

 
McDonald's Sales Boosted by New Menu Offerings, Price Increases

McDonald's said global same-store sales were up 12.6% in the fourth quarter, but cautioned that inflation will continue to pressure its business this year.

 
UPS Prepares for Slowdown in Global Delivery Volumes

The delivery company said annual revenue could decline for the first time in years.

 
Spotify Adds Users, Reports Loss After Big Investments in Podcasts

Spotify reported strong user growth but another quarterly loss after the company invested extensively to build its podcast business.

 
Whole Foods Asks Suppliers to Lower Prices

The grocery chain told suppliers at a virtual summit that it wants to bring down retail prices in its store aisles as inflation moderates.

(END) Dow Jones Newswires

January 31, 2023 09:15 ET (14:15 GMT)

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