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Search resuls for: "Nivedita Balu Akash Sriram"


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☆ Apple set to post rare revenue drop as focus shifts to demand rebound
  + stars: | 2023-02-01 | by ( Nivedita Balu Akash Sriram | Nivedita Balu | Akash Sriram | ) www.reuters.com   time to read: +3 min
The world's biggest public company is expected to report on Thursday that iPhone sales fell about 5% for the all-important holiday quarter, according to Refinitiv. The last time iPhone sales slipped was in the August-October period in 2020, months into the COVID-19 pandemic. Greater China, including Hong Kong, is key to Apple's fortunes, contributing roughly a fifth to annual revenue. FUNDAMENTALS** Revenue estimated to have fallen 2% in the last three months of 2022, Apple's first fiscal quarter. ** IPhone sales likely fell for first time since 2020, while services business rose 6%.
☆ Snap sets off alarm bells in ad-reliant social media sector
  + stars: | 2022-10-21 | by ( Nivedita Balu Akash Sriram | Nivedita Balu | Akash Sriram | ) www.reuters.com   time to read: +3 min
Oct 21 (Reuters) - Snap Inc (SNAP.N) shares sank more than 30% on Friday and hit their lowest since the pandemic, after the company's forecast of zero revenue growth pointed to more pain ahead for a social media sector heavily dependant on digital advertising. Facebook-parent Meta Platform Inc (META.O) and Pinterest Inc (PINS.N) fell between 2% and 7%. read moreAnalysts rushed to cut their price target on Snap, with Morgan Stanley taking it to a Wall Street low of $7. Register now for FREE unlimited access to Reuters.com RegisterMacroeconomic concerns, changing social media user behavior affects advertiser spendingThe digital ad space has suffered as brands have cut marketing and ad budgets in response to declining consumer demand. Snap reported its slowest revenue growth as a public company for the latest quarter on Thursday, and forecast no revenue growth for the typically busy holiday quarter.
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