Company briefs: Airbus; Nvidia; Cisco Systems

Europe's Airbus predicted 720 plane deliveries and higher profits in 2022 after core operating profit almost trebled last year on a partial recovery in jet deliveries and higher defence and helicopter earnings. It also restarted its dividend for the first time in two years after swinging to a record net profit of €4.2 billion (S$6.4 billion), boosted by the halting of its A380 superjumbo and a reversal of some Covid-19 charges. Airbus said it would propose a dividend of €1.50 a share. The group's adjusted operating profit soared to €4.9 billion from €1.7 billion a year earlier. For 2022, it predicted a core profit of €5.5 billion.

REUTERS

Nvidia, which walked away from a US$40 billion (S$53.8 billion) acquisition of Arm Limited earlier this month, failed to impress investors with its latest forecast, a sign of the lofty expectations for the most valuable US chipmaker.

Though it topped Wall Street estimates with its latest quarterly results on Wednesday - and projected strong growth for the current period - its shares slipped more than 2 per cent in late trading. Investors have high hopes for the company, and even a record-setting quarter can leave them underwhelmed.

BLOOMBERG

Cisco Systems, the biggest maker of computer networking equipment, gained in late trading after giving a bullish forecast for the current quarter and boosting its share buyback programme. Sales will increase 3 per cent to 5 per cent in the period ending in April, the company said on Wednesday. That compares with the average analyst projection of 4 per cent revenue growth, or US$13.3 billion (S$17.9 billion), according to data compiled by Bloomberg. Excluding certain items, earnings will be 85 to 87 US cents a share. Chief executive Chuck Robbins said his firm is seeing strong demand.

BLOOMBERG