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Taiwan's Foxconn, the world's largest contract electronics maker and Apple's biggest iPhone assembler, on Friday reported first quarter revenue fell 9.6% year-on-year, but predicted second quarter revenue would rise year-on-year.
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The world's largest memory chip and TV maker estimated its operating profit rose to a better-than-expected 6.6 trillion won ($4.89 billion) in the quarter ended March 31. That was up 931% from 640 billion won a year earlier, the South Korean firm said in a short preliminary earnings statement.
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Operating profit for the world's biggest maker of memory chips and TVs likely rose to 5.7 trillion won ($4.24 billion) in the quarter ended March 31, according to the average of an LSEG SmartEstimate from 27 analysts, weighted toward those who are more consistently accurate.
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The company reported an adjusted net profit of 3 cents per share for the quarter ended Feb. 29, compared with analysts' average estimate of a loss of 3 cents, according to LSEG data.
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The impact of strikes and a drop in logistics profits will lead to a higher expected operating loss in the first quarter than in earlier years, the German airline said, offsetting strong post-COVID travel demand.
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EBay's board of directors also authorized an additional $2 billion share repurchase program.
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Zoom also authorized a stock buyback of up to $1.5 billion of its outstanding Class A common stock.
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VinFast's net losses in the final quarter of 2023 reached $650.1 million, also 1.3% higher than the same period of 2022.
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Nvidia Corp's net income for the fourth quarter ended January 28, 2024 grew by 769 percent on-year and 33 percent sequentially to $12.3 billion, driven by increasing demand for artificial intelligence worldwide.
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Revenue should increase about 4% in 2024 on an organic basis after gaining 7.2% last year, Nestle said Thursday. The company also expects a 6% to 10% gain in underlying earnings per share.
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While EPAM expects revenue to decline in January-March, Capgemini projected a slower revenue growth in 2024 vis-a-vis 2023
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The firm, which offers consulting, digital, technical and engineering services, expects its revenue to grow between 0% and 3% at constant currency this year, compared with 4.4% growth it reported for 2023.
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Profit in the April-December period was 979 billion yen ($6.50 billion). The company's profit for the first six months of the financial year was 516 billion.
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The Tokyo-based technology investor reported a net income of ¥950 billion ($6.4 billion) for the December quarter, reversing a ¥783 billion loss for the same period a year ago.
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Amazon's roster of high-spending business customers have provided it stable growth in an uncertain economy, but its position as the world's biggest cloud provider is being challenged by rival Microsoft.
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Shares soared more than 14% after the bell, pushing the company's stock market valuation up by more than $140 billion and extending a long recovery that saw Meta hit record highs in recent weeks for the first time in more than two years.
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Apple Chief Financial Officer Luca Maestri indicated that revenue in the current quarter would be less than a year ago, when the quarter benefited from a post-COVID boost of about $5 billion in sales.
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Sales, excluding partner payouts, jumped 15% to $72.3 billion in the three months ended Dec. 31, the company said Tuesday in a statement.
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Revenue in the second quarter, which ended Dec. 31, rose 18% to $62 billion, while profit was $2.93 a share, the company said in a statement Tuesday. Analysts polled by Bloomberg on average estimated per-share earnings of $2.78 on sales of $61.1 billion.
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Sticky inflation and high borrowing costs have forced firms to cut back on expenditure, hurting companies like Oracle that depend on enterprise spending.
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Vendors in the market have seen a slowdown in demand following the surge in sales of electronic devices during COVID lockdowns on the back of increased work-from-home measures.
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The company has in recent years grappled with supply chain issues and a post-pandemic slowdown in demand, which has hastened its push into software offerings like cybersecurity.
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Sachem Head Capital Management increased its stake in Salesforce by 33% during the third quarter while Farallon Capital Management upped its holding by 30% to own 2.5 million shares on September 30, the filings show.
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Organic service revenue in the second quarter rose 4.7%, the Newbury, England-based phone carrier said in a statement on Tuesday.
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The Taiwanese company, the world's largest contract electronics maker, said net profit for the July-September quarter rose to T$43.1 billion ($1.3 billion) from T$38.8 billion in the same period the previous year.
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The company reported a 127% rise in July-September operating profit to 208.1 billion yen ($1.38 billion), compared with an average estimate of 155.9 billion yen in a poll of 10 analysts by LSEG and a 91.7 billion yen operating profit in the same period a year earlier.
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The world’s top steelmaker outside of China reported a 28% decline in earnings from the previous quarter, better than analysts expected. Margins and sales were squeezed as the manufacturing and construction sectors languished.
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The result compared with an average estimate of 345.3 billion yen in a poll of 10 analysts by LSEG and a 231.2 billion yen operating profit the same period a year earlier.
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Its Vision Fund investment unit, meanwhile, booked an investment profit of 21.4 billion yen in the latest quarter, having made a 160 billion yen profit three months earlier.
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Profit for the July-September quarter was 263 billion yen ($1.74 billion). That compared with a 306 billion yen estimate from 10 analysts polled by LSEG.
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Telkomsel, the Indonesian associate of Southeast Asia's largest telecom firm, had agreed to merge with its parent's IndiHome broadband arm in an effort to expand into Indonesia's fixed broadband market.
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The Kyoto-based gaming firm maintained its full-year forecast for the console of 15 million units, which would be a 16.5% decline on a year earlier.
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At least two new IPOs will open for subscription. The US Fed will decide on interest rates. Corporate earnings, PMI, auto sales are other key data to track
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While Intel remains under heavy competitive pressure from Nvidia in the data center chip market, the easing PC slump and stabilization of its server chip business helped raise gross margins faster than analysts had expected.
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IBM, like the rest of the IT services industry, is operating in a tough macroeconomic environment that has triggered a further tightening of client budgets.
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The company, which supplies Tesla, GM and other automakers, reported an operating profit of 731 billion won ($543.46 million) for the July-September period, up from 522 billion won a year earlier.
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Revenue for the third quarter ended September rose 5% to $1.19 billion, beating analysts' expectations of $1.11 billion, according to LSEG data.
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Alphabet's shares fell 7% in after hours trading on Tuesday. Microsoft's rose 5%.
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The Austin, Texas, maker of electric vehicles, solar panels and batteries on Wednesday reported net income of USD 1.85 billion for the July-September quarter, a 44 per cent decline from a year earlier. Earnings per share fell to 53 cents from 95 cents.
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The Shenzhen-based company forecasts net profit for the July to September period at between 9.55 billion yuan ($1.31 billion) and 11.55 billion yuan, an increase of 67% to 102% from a year earlier.
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Companies such as HP, Lenovo and Dell Technologies have seen demand ease from peaks hit during the pandemic, when work-from-home trends drove up sales of laptops and other electronic devices.
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The world's largest memory chip and smartphone maker estimated its operating profit fell to 2.4 trillion won ($1.79 billion) in July-September, from 10.85 trillion won a year earlier in a short preliminary earnings statement.
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Total group sales increased by 5.8% that quarter and by 5.1% over the first nine months of the year, the company added.
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The fourth quarter is traditionally the hot season for Taiwan's tech companies as they race to supply smartphones, tablets and other electronics to major vendors such as Apple for the year-end holiday period in Western markets.
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Infosys, TCS, HCL have won several large projects in Q2 with total revenue potential of more than $1 billion
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Shares of the company fell 4.9% in trading before the bell after its fourth-quarter revenue also missed estimates.
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The world's largest sportswear maker also forecast a 100 basis point increase in second-quarter gross margins, following six consecutive quarters of declines, on the back of fewer planned markdowns and lower freight costs.
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Biden's backing comes hours after António Guterres, Secretary-General of the United Nations, said the Security Council needed reforms to reflect the reality.
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The possibility of a joint communique remains uncertain as the Ukraine conflict continues to come in the way of a consensus
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The company's U.S.-listed shares rose 2.4% in premarket trading.
