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CNBC Europe Video: Earnings Roundup

CNBC.com
Tuesday, 23 Oct 2007 | 11:24 AM ET
BP's Profit Slips
BP posted a 45 percent drop in third-quarter replacement cost profit Tuesday, but the UK oil giant's battered stock could provide an investment opportunity, Clem Chambers, CEO of ADVFN, told CNBC's Ross Westgate.

It was a busy Tuesday for earnings reports, with several big-name companies issuing latest results. Here's what market analysts and corporate executives appearing on CNBC Europe had to say about the latest numbers.

BP suffered one of its worst quarters in recent history, with a 45 percent drop in third-quarter replacement cost profit, but the UK oil giant's battered stock could provide an investment opportunity, Clem Chambers, CEO of ADVFN, told "Power Lunch Europe."

Akzo Nobel Profit Falls Short of Forecasts
Dutch chemicals company Akzo Nobel posted a 11% rise in third-quarter core profit on Tuesday, which came slightly below analysts' forecasts. Rob Frohn, CFO of Akzo Nobel, speaks to CNBC's Steve Sedgwick about the group's earnings and recent proposed acquisition of ICI.

"All the oil companies are out of favor, they've all had a bad period in terms of profits … I think for long-term investors (they) are a must have," Chambers said Tuesday.

Meanwhile Akzo Nobel also reported a decline in third-quarter profit. The Dutch chemicalcompany said its merger and acquisition plans were on track, but the weak results pushed shares down 1 percenton a positive AEX Index.

Autonomy Reports Record Results
Autonomy said third-quarter revenue increased by 49% and profit rose by 38% on Tuesday, on strong software demand. Mike Lynch, CEO of Autonomy, speaks to CNBC's Steve Sedgwick about the software firm's results and outlook.

"Our goal is to outgrow the world GDP, whatever that is, it seems to be that some of the economies are slowing down somewhat (but) for us the growth outlook is still very healthy," Rob Frohn, CFO of Akzo Nobel, told "Squawk Box Europe."

And Information retrieval software firm Autonomy said third-quarter profit jumped 38 percent, as new legislation in the U.S. prompted companies to buy its technology.

Hagemeyer Dismisses Sonepar's Offer
Hagemeyer said that Sonepar's offer of 4.25 euros per share is too low on Tuesday, just after releasing third-quarter sales figures, which came in slightly below analysts' expectations. Rudi de Becker, CEO of Hagemeyer, speaks to CNBC's Steve Sedgwick about the results.

"If you're sued now (in the U.S.) you've got to put your hands on everything and know what's going on in 99 days -- you can only do that if you have technology already installed," Mike Lynch, CEO of Autonomy, explains to CNBC Europe.

Another European company reporting earnings Tuesday was Industrial supplier Hagemeyer, which reported sales at the top end of analysts' forecasts. Shares of the Amsterdam-listed company gained 2.5 percent.

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