Gamera has reported that they had 29% growth in the first-half net profit. They have increased the production in markets such as China and India while defending the operating margins, which came in at 5.2% for the quarter whereas the company target was about 4-5%.

On Thursday, the company has reported that they have sold 2.27 Gigawatts (GW) of turbines in the first quarter as compared with the targeted sales of 2.8-3.1 GW. They have covered their sale targets of 2011 by the end of the June.

According to the recent developments in the earnings made by Telefonica, the leading telecom firm in Spain, the net profits of the firm have gone down by a tremendous 16.2% in the first half of the year to 3.162 billion Euros now.

On Thursday, the Banco Bilbao Vizcaya Argentaria SA revealed that the net profit of the bank fell 7.6% in the second quarter. The main reason behind the decline was that the income of the bank was hit by economic weakness in the Spanish bank's home market, whereas cost climbed due to expansion abroad.

Net profit fell of the Spanish Bank fell to 2.34 billion Euros from 2.53 billion Euros a year ago, but exceeded 2.226 billion Euros from the forecast.

According to reports, Spain’s Banco Santander’s second quarter net profit dropped by 38%, as the growth of Latin America was disrupted by a poor result in the crisis that hit Europe and the’ onetime charge in Britain’.

Also, the eurozone’s biggest bank by market capitalization net profit is said to have fallen to €1.39 billion between April and June, when compared with €2.23 billion for the last corresponding period.

Vodafone Group Plc (VOD) is the world’s largest mobile phone company. And, its service revenue growth for the fiscal first quarter has also proved the same. The rise in sales was due to increases in sales of its phones, which could surf the web.

Due to the increase in the usage of smart-phones, data revenue has grown by 25%. It is expected that Vodafone in Newbury, England has sought to drive the data sales from other smart phone makers. The stock of it has risen by 2% amounting to 165.50 pence in the London trading.

Telefonica TEF had announced last year's results that were normally in line with the company's estimations, and the company won't be changing its fair value estimate.

The report showed fall of 2.1 percent year over year against their expectation of a decline of 1.7 percent.

Excluding negative currency movements, profit would have been raised by 0.2 percent.

In spite of the weak economy, the company raised its subscribers 5.1 percent to 265 million accesses.

Banco Espanol de Credito (Banesto), said that it has recorded 95 per cent fall in its net profit for fourth quarter previous fiscal.

Banesto, Spain's fourth-biggest bank by market capitalization and managed by global giant Banco Santander, posted a net profit of only EUR6.2 million in the last three months of 2009, which is nowhere near to the net profit of EUR126 million in 2008. However, analysts had estimated EUR12.5 million net profits.

Oil firm Repsol YPF SA declared that its adjusted profit dropped 61% in the third quarter due to the decreased refining margins and the decline in output.

The clean replacement cost of supplies or the adjusted net profit, excluding the inventory effects decreased to EUR279 million in the third quarter, from EUR723 million in a year earlier.

Europe’s second largest phone company, Telefonica SA, announced a drop of 0.6 percent in its profit in the third quarter due to Spanish recession in last six decades.

In a regulatory filing, Madrid based Telefonica said that net income has decreased to 1.99 billion euros ($2.98 billion) from 2 billion euros one year before, and the sales have fallen by 5.7 percent to 14.13 billion euros.

Mr. Cesar Alierta, Chief Executive Officer of Telefonica, agreed to spend 3.6 billion euros for buying companies in Brazil and Germany, in order to increase growth outside the Spain.

Spain’s largest bank, Banco Santander announced that its 3Q profits remained steady at €2.22 billion.

Despite doing a decent business in Britain, bank’s loan losses had gone up during the period.

European zone’s largest bank said that its third quarter revenue surged 11% year on year, and profits by Santander units, which were located in Britain, rose 58% to 1.16 billion pound sterling till September.

Despite having such a fantastic run, non-performing loans continued to sink bank’s bottom line.