Yahoo Finance Trending tickers: Ryanair | Vodafone | Ocado
Ryanair (RYA.IR)
Budget airline Ryanair (RYA.IR) stormed to record profits off the back of its summer flight sales, but has trimmed forecasts for passenger numbers due to Boeing (BA) aircraft delivery delays.
Bumper profit of €663m (£572.6m/$735m) came for the three months to the end of June via higher costs for flights and increased demand over the summer months. Profit for the quarter was nearly four times higher than the same quarter the previous year.
Revenues were up 40% to €3.65bn — offsetting a 23% rise in costs of paying staff and fuel bills.
Ryanair said its year-on-year comparisons in the quarter were boosted by a strong Easter and an extra bank holiday in the UK, as well as a weaker performance in 2022 because of Russia’s invasion of Ukraine.
Despite positive numbers, the airline's CEO Michael O'leary urged caution due to uncertainty ahead for the winter.
Read more: UK economy 'stalling' over poor demand and high prices
On an earnings call after the results came out he said the company doesn't want "irrational exuberance" building up off the back of the latest results.
He added that while there could be pressure due to oil prices, the "narrative that era of low fares is over is not a correct one."
Vodafone (VOD.L)
Vodafone's share price was up more than 4% by late morning in London as it reported Q1 service revenue growth which was ahead of analysts expectations. It also named a Luka Mucic its new CFO to boost performance in Germany. Mucic came from software company SAP (SAP.DE).
Service revenue was up 3.7% in the quarter compared with a year earlier, beating average estimates of 2.9% via analysts surveyed by Bloomberg.
There was particular strength in its enterprise division — a focus area for new CEO Margherita Della Valle, as well as growth in African operations.
Read more: FTSE and European stocks lower ahead of ECB and Fed meetings
The company has seen an uphill struggle in Germany to maintain momentum. The German division's quarterly service revenue was down 1.3% from a year ago — the fifth consecutive quarterly decline.
Meanwhile, it is nearing submitting a proposal to regulators for its blockbuster merger with Three.
Ocado (OCDO.L)
Ocado's stock ticked up more than 10% on Monday in London as the grocery tech company settled a long-running legal battle against a Norwegian rival Autostore (AUTO.OL).
The three-year spat was over claims Ocado had breached Autostore's patents. Both companies use robots to improve productivity in warehouses and designed systems to do this. Ocado sells its tech in other markets, too.
Read more: Stocks that are trending today
A high court judge ruled Autostore's patents were invalid.
The new agreement sees Autostore pay Ocado £200m, over 24 monthly instalments.
Watch: Ryanair operating 'full schedule' to wildfire-hit Greece as Europe heatwave fails to deter holidaymakers
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