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☆ Drug distributor Cardinal sees sales boost from weight-loss drugs in 2024
▼ + stars: | 2023-08-15 | by ( Mariam E Sunny | ) www.reuters.com time to read: +2 min

Aug 15 (Reuters) - Drug distributor Cardinal Health Inc (CAH.N) on Tuesday raised fiscal 2024 expectations for sales at its pharmaceutical unit, banking on growing demand for newer weight-loss drugs, including GLP-1 treatments. Cardinal peers AmerisourceBergen (ABC.N) and McKesson (MCK.N) have also flagged a potential boost to revenues for drug distributors due to high demand for these drugs. It now expects revenue from its pharmaceuticals unit to rise 10% to 12% in fiscal 2024, compared with its previous expectation of about 10% growth. It raised its 2024 profit forecast slightly to a range of $6.50 to $6.75 per share, from $6.45 to $6.70 it had forecast previously. Excluding one-off items, Cardinal Health reported a profit of $1.55 per share in the fourth quarter ended June 30, topping expectations of $1.49 per share.

Persons: Novo, Eli Lilly's, it's, Cardinal, AmerisourceBergen, Aaron Alt, Vaibhav Sadhamta, Mariam Sunny, Pooja Desai Organizations: Health Inc, Cardinal Health, Thomson Locations: United States, Bengaluru

☆ MSCI to acquire remaining stake in Burgiss for $697 mln in cash
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Thomas White/Illustration/File PhotoAug 14 (Reuters) - Index provider MSCI (MSCI.N) said on Monday it will acquire the remaining 66% of Burgiss Group, a New Jersey-based provider of data and analytics solutions for investors, for $697 million in cash. The deal will boost MSCI's footprint in the private asset data analytics segment, as Burgiss's dataset covers over 13,000 private asset funds around the world, representing $15 trillion in cumulative investments in 195 countries. Global M&A volumes for the first half of 2023 fell 39%, to $1.38 trillion, according to data from Dealogic. MSCI said it anticipates funding the Burgiss purchase consideration from existing liquidity sources, adding that the transaction is expected to close in the fourth quarter of 2023. Since then, MSCI will have invested a total of $913 million to acquire all of Burgiss, according to the statement.

Persons: Thomas White, MSCI, Jaiveer Singh, Pooja Desai Organizations: Burgiss, Wall, Federal Reserve, Thomson Locations: New Jersey, U.S, China, Bengaluru

[1/2] FILE PHOTO: The PayPal app logo seen on a mobile phone in this illustration photo October 16, 2017. "We believe (Chriss's) experience sounds highly relevant to PayPal as it reemphasizes focus on small merchants and launches PayPal Complete Payments," William Blair analysts wrote in a note. PayPal Complete Payments is a payments processing solution for small and medium-sized businesses. According to Wolfe Research, his biggest accomplishment was the company's $12-billion acquisition and integration of Mailchimp in 2021. Outgoing CEO Schulman will remain on the board of the company until its next annual meeting of stockholders in May, PayPal said.

Persons: Thomas White, Alex Chriss, Dan Schulman, William Blair, Wolfe, Darrin Peller, Chriss, Schulman, Niket, Pooja Desai Organizations: PayPal, REUTERS, PayPal Holdings, Intuit, eBay, Intuit's, Wolfe Research, Reuters, Thomson Locations: San Jose , California, Bengaluru

☆ Wynn Resorts pulls the plug on WynnBET in certain US markets
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +1 min

Company logos are displayed at Wynn Macau resort in Macau, China February 8, 2018. The company said it was ceasing operations in Arizona, Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia, and West Virginia. The decision to pull out of West Virginia comes a couple of months after it launched WynnBet in the state. WynnBET is part of the company's majority-owned subsidiary, Wynn Interactive, which was expected to merge with Austerlitz Acquisition Corp I. On Wednesday, Wynn Resorts posted second-quarter results above Wall Street estimates, as its Las Vegas and Macau properties saw growth in gaming, dining and hotel bookings.

Persons: Bobby Yip, Wynn, Julie Cameron, Doe, Ananya Mariam Rajesh, Pooja Desai, Anil D'Silva Organizations: Wynn, REUTERS, Wynn Resorts, Wynn Interactive, Wall, Thomson Locations: Wynn Macau, Macau, China, Arizona , Colorado , Indiana , Louisiana , New Jersey , Tennessee, Virginia, West Virginia, Nevada, Massachusetts, New York, Michigan, Vegas, Bengaluru

☆ Roblox misses quarterly bookings estimates on lower spending, shares tumble
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

The videogame industry is struggling with a slowdown in spending as inflation-weary gamers become more selective in picking popular titles. Roblox, which operates a metaverse – an emerging virtual space where people play games and make transactions - is available on mobile devices, desktops and Microsoft's (MSFT.O) Xbox. and "Brookhaven", posted net bookings of $780.7 million in the quarter, missing analysts' average estimate of $784.9 million, according to Refinitiv data. Net loss attributable to shareholders stood at $282.8 million in the quarter, compared with $176.4 million, a year earlier. The company released its eponymous online game "Roblox Beta" on Meta Platforms' (META.O) Quest virtual reality headsets in July.

Persons: Brendan McDermid, Samrhitha, Pooja Desai Organizations: New York Stock Exchange, REUTERS, Electronic Arts, Quest, Thomson Locations: New York, U.S, Brookhaven, Bengaluru

☆ Aptiv expects semiconductor prices to remain high
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

Aug 9 (Reuters) - Aptiv PLC (APTV.N) does not expect semiconductor prices to cool off in the near future, the auto parts supplier said on Wednesday. Even though supply-chain challenges are easing, prices of certain parts remain high, denting profits. The company said the "real challenge" is in obtaining chips, whose prices have risen 25% to 30%, while supply chains remain tight. The Dublin-based company said demand for new vehicles remains strong in North America and Europe, but flagged concerns around underlying GDP growth in China. Reporting by Pratyush Thakur in Bengaluru; Editing by Shailesh Kuber and Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Kevin Clark, Pratyush Thakur, Shailesh Kuber, Pooja Desai Organizations: Aptiv, Ford, Detroit, JPMorgan, United Auto Workers, UAW, Ford Motor, General Motors, Thomson Locations: Dublin, North America, Europe, China, Bengaluru

☆ Energy stocks push TSX higher, Nuvei slumps after qtrly profit drops
▼ + stars: | 2023-08-09 | by ( Siddarth S | ) www.reuters.com time to read: +1 min

The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. REUTERS/Chris Helgren/File PhotoAug 9 (Reuters) - Canada's main stock index rose on Wednesday, driven by gains in energy stocks as oil prices rose on supply tightness, while Nuvei Corp shares slumped after the payments firm's quarterly profit more than halved. ET (1406 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was up 90.42 points, or 0.45%, at 20,296.4. Heavily weighted energy stocks (.SPTTEN) climbed 1.3% as oil touched new highs on supply tightness due to output cuts by Saudi Arabia and Russia. The value of Canadian building permits rose by 6.1% in June from May, data showed.

Persons: Chris Helgren, Brian Madden, Siddarth, Pooja Desai Organizations: Toronto Stock Exchange, REUTERS, Nuvei Corp, Toronto Stock, Investment, Cannabis, Manulife, Thomson Locations: Toronto , Ontario, Canada, Saudi Arabia, Russia, China, Bengaluru

☆ GM criticizes autoworkers union's contract demands
▼ + stars: | 2023-08-03 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca CookWASHINGTON, Aug 3 (Reuters) - General Motors (GM) (GM.N) on Thursday said it expected to offer unionized workers higher wages, but granting the United Auto Workers' (UAW) ambitious contract demands including large pay rises would hurt its ability to make sound business decisions. Company and union sources told Reuters the UAW was seeking at least a 40% pay hike over the life of the four-year contract, including an initial 20% hike upon ratification. "We think it's important to protect U.S. manufacturing and jobs in an industry that is dominated by non-unionized competition," GM said. Fain on Tuesday said the union demands were its "most audacious and ambitious" proposals in decades.

Persons: Rebecca Cook WASHINGTON, Mary Barra, Shawn Fain, Fain, David Shepardson, Shivansh, Pooja Desai, Cynthia Osterman, Jamie Freed Organizations: General Motors, REUTERS, United Auto Workers ', UAW, Reuters, Detroit, Chrysler, Ford, GM, U.S, Thomson Locations: Detroit , Michigan, U.S, Washington, Bengaluru

☆ Airbnb forecasts Q3 revenue above estimates on rebound in international travel
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/IllustrationAug 3 (Reuters) - Airbnb (ABNB.O) forecast revenue for the current quarter above market estimates on Thursday, as the vacation rental firm is set to gain from a rebound in international travel. The San Francisco-based company forecast revenue for the third quarter between $3.3 billion and $3.4 billion, ahead of analysts' average estimate of $3.22 billion, as per Refinitiv data. Travel operators have begun to benefit from a robust rebound in international travel, aided by pandemic restrictions easing and a strong U.S. dollar that has encouraged consumers to book flights and stays overseas. Gross bookings rose 13% to $19.1 billion, in line with analysts' average estimate. Airbnb's quarterly revenue rose 18.1%, to $2.48 billion, ahead of analysts' estimate of $2.42 billion.

Persons: Dado Ruvic, Airbnb, Gross, Priyamvada, Pooja Desai Organizations: REUTERS, Asia Pacific, Marriott, Hilton Worldwide Holdings, Spirit Airlines, Thomson Locations: San Francisco, United States, North America, Paris, France, Bengaluru

☆ Cloudflare raises full-year forecasts as tech spending bounces back
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

Aug 3 (Reuters) - Software firm Cloudflare (NET.N) raised its annual revenue and profit forecasts after delivering better-than-expected results for the second quarter on Thursday, sending its shares up nearly 6% in extended trading. Cloudflare now sees 2023 revenue in the range $1.283 billion to $1.287 billion, compared with its earlier forecast of $1.280 billion to $1.284 billion. It also raised its adjusted per-share profit forecast by more than 2 cents. San Francisco, California-based Cloudflare sells tools and software, grouped as content delivery network (CDN) services, that help companies manage their applications on the internet. The company forecast third-quarter revenue of between $330 million and $331 million, while analysts expect $329.4 million.

Persons: Cloudflare, Refinitiv, Yuvraj Malik, Pooja Desai Organizations: Companies, Thomson Locations: San Francisco , California, Bengaluru

☆ Gen Digital beats first-quarter revenue estimates on uptick in demand
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

Aug 3 (Reuters) - Cybersecurity firm Gen Digital (GEN.O) beat revenue estimates for the first quarter on Thursday, as demand for its antivirus software like Avast, Norton and Avira rose, sending shares surging 3.7% in trading after the bell. Demand for cybersecurity software has soared in the wake of continuously evolving cyber threats, privacy concerns and soaring hacking activity, as users expand their digital footprints. Revenue in the first quarter grew 34% to $946 million, slightly above analysts' average estimate of $945.4 million, according to Refinitiv data. The company earned adjusted profit per share of 47 cents, above analysts' average estimate of 46 cents. Gen Digital expects fiscal year 2024 revenue to be in the range $3.8 billion to $3.85 billion, the midpoint of which is slightly below analysts' average estimate of $3.85 billion, according to Refinitiv data.

Persons: Vincent Pilette, Jaspreet Singh, Pooja Desai Organizations: Digital, Norton, Gen Digital, Thomson Locations: Bengaluru

☆ Pfizer takes more steps to manage medicine stock at North Carolina plant
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

The roof of a Pfizer facility shows heavy damage after a tornado passed the area in Rocky Mount, North Carolina, U.S. July 19, 2023. The company's Rocky Mount plant is one of the world's largest factories for sterile injectable medicines. The tornado that struck the site completely destroyed the warehouse, but production facilities there did not suffer major damage, Pfizer had said earlier. Earlier this week, CEO Albert Bourla said the company is still assessing how long it will take to bring the plant back on line. Reporting by Sriparna Roy and Bhanvi Satija in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Albert Bourla, Sriparna Roy, Bhanvi, Pooja Desai Organizations: Pfizer, ABC, WTVD, REUTERS, Pfizer Inc, Thomson Locations: Rocky Mount, North Carolina, U.S, Bengaluru

☆ Qorvo forecasts second-quarter revenue above estimates on strength from Apple
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +1 min

Aug 2 (Reuters) - Wireless connectivity chip maker Qorvo (QRVO.O) projected second-quarter revenue above market estimates on Wednesday, as it expects more business from its biggest customer, Apple (AAPL.O). As a result, the company expects revenue in the second quarter to increase sequentially by over 50% and expects year-over-year revenue growth in fiscal 2024. Apple contributed 37% to the company's total revenue in fiscal 2023, ended April. Qorvo said it expected revenue of about $1 billion, plus or minus $15 million, for the second quarter, which was above analysts' expectations of $959.8 million. Analysts on an average had expected revenue of $639.8 million.

Persons: Bob Bruggeworth, Apple, Qorvo, Zaheer Kachwala, Pooja Desai Organizations: Apple, Thomson Locations: Greensboro, North Carolina

☆ Shopify beats quarterly revenue estimates
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: 1 min

The logo of Shopify is seen outside its headquarters in Ottawa, Ontario, Canada, September 28, 2018. REUTERS/Chris WattieAug 2 (Reuters) - Canada's Shopify (SHOP.TO), beat Wall Street estimates for revenue in the second quarter on Wednesday, as more merchants used its online tools and targeting services to attract customers. Total revenue grew 31%, to $1.7 billion in the quarter ended June, compared with analysts' estimate of $1.62 billion, according to Refinitiv data. Gross merchandise volume - or the total value of orders facilitated through the Shopify platform - grew 17%, to $55 billion, compared to an estimate of $53.34 billion. Reporting by Yuvraj Malik and Akshita Toshniwal in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Wattie, Gross, Yuvraj Malik, Akshita, Pooja Desai Organizations: REUTERS, Wall, U.S, Thomson Locations: Ottawa , Ontario, Canada, Bengaluru

☆ Apple's high-yield savings account hits over $10 bln in customer deposits
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +1 min

The Apple Inc logo is seen at the entrance to the Apple store in Brussels, Belgium November 28, 2022. REUTERS/Yves HermanAug 2 (Reuters) - Apple’s (AAPL.O) high-yield savings account offered by its partner Goldman Sachs (GS.N) has reached over $10 billion in customer deposits, the technology giant said on Wednesday. The deposit account, which was launched in April, lets Apple Card users earn an annual percentage yield of 4.15% on savings accounts. U.S. lenders have had to offer higher rates on customer deposits to prevent clients from moving their funds to other high-yield alternatives, especially after an industry crisis earlier this year shook customers' faith in the financial health of banks. In March, Apple also launched its "buy now, pay later" (BNPL) service in the United States, expanding its footprint in the financial technology space.

Persons: Yves Herman, Goldman Sachs, Manya Saini, Pooja Desai Organizations: Apple, REUTERS, Apple Card, Thomson Locations: Brussels, Belgium, United States, Bengaluru

☆ Shopify forecasts solid revenue growth on higher prices, more signups
▼ + stars: | 2023-08-02 | by ( Yuvraj Malik | ) www.reuters.com time to read: +2 min

REUTERS/Chris WattieAug 2 (Reuters) - Canada's Shopify (SHOP.TO), forecast strong revenue growth and delivered better-than-expected results for the second quarter on Wednesday, helped by new signups and price increases across its services. In the third quarter, the company expects revenue growth at "low-twenties" percentage and "mid-twenties" when adjusted for changes related to the divestiture of its logistics business. Following the results, Shopify's U.S.-listed shares, which have surged nearly 80% so far this year, added 7% before settling marginally lower in extended trading. In the second quarter, total revenue grew 31% to $1.69 billion and beat analysts' average estimate of $1.62 billion. "This could be a turnaround quarter for Shopify," said Michael Schulman, chief investment officer at Running Point Capital Advisors.

Persons: Chris Wattie, We're, Harley Finkelstein, Shopify, Michael Schulman, Yuvraj Malik, Akshita, Pooja Desai, Arun Koyyur Organizations: REUTERS, Merchants, Running, Capital Advisors, Thomson Locations: Ottawa , Ontario, Canada, Shopify, U.S, Bengaluru

☆ Tinder-parent Match sees third-quarter revenue above estimates on strong user growth
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

The company forecast revenue between $875 million and $885 million for the third quarter. It posted adjusted operating income of $301 million in the second quarter, compared with market estimates of $278.5 million. Match said Tinder's "It Starts with a Swipe" campaign was crucial in lifting new user signups, particularly among young women. It also said there has been strong demand for its weekly subscription packages, which benefited Tinder's revenue. The company posted a revenue of $830 million in the second quarter, compared to analysts' estimate of $811.4 million, according to Refinitiv IBES data.

Persons: Akhtar Soomro, Tinder, Akshita Toshniwal, Akash Sriram, Pooja Desai Organizations: REUTERS, Thomson Locations: Bengaluru

☆ Electronic Arts misses quarterly bookings expectations, forecast weak
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

EA (Eletronic Arts) Sports logo is seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/IllustrationAug 1 - Videogame publisher Electronic Arts (EA.O) missed booking estimates for its first quarter on Tuesday, hurt by competition from other franchise-based games and muted spending by gamers. Its shares fell 4.5% to $130.25 in extended trading as the company posted net bookings of $1.58 billion in the quarter ended June 30, compared with Refinitiv estimates of $1.59 billion. EA forecast second-quarter net bookings in the range $1.70 billion to $1.80 billion, also below analysts' estimate of $1.81 billion. Reporting by Yuvraj Malik in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Harry Potter, Yuvraj Malik, Pooja Desai Organizations: EA, Eletronic, REUTERS, Electronic Arts, Warner Bros Discovery, Thomson Locations: Bengaluru

☆ Western Digital's first-quarter forecast disappoints as weak cloud demand weighs
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

July 31 (Reuters) - Memory chipmaker Western Digital Corp (WDC.O) forecast a bigger-than-expected loss in the first quarter and revenue below Wall Street targets on Monday as weak demand, mainly for its cloud business, forces it to cut production. Cloud companies will take another "couple of quarters" to clear out excess inventory, finance chief Wissam Jabre said in June. Western Digital forecast its adjusted loss per share to be in the range of $2.10 to $1.80, compared to an estimated loss of $1.40 per share. It also forecast revenue for the same period below estimates. Rival Seagate Technology (STX.O) also forecast downbeat revenue for its first quarter last week, on weakness in major market China and lower tech spending.

Persons: Wissam Jabre, David Goeckeler, Goeckeler, Chavi Mehta, Stephen Nellis, Pooja Desai Organizations: Digital Corp, Seagate Technology, Western Digital, Samsung Electronics, SK Hynix, Thomson Locations: China, South, Bengaluru, San Francisco

☆ US FDA approves second over-the-counter opioid overdose reversal drug
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

July 28 (Reuters) - The U.S. Food and Drug Administration has approved the prescription-free sale of the second opioid overdose reversal drug, its manufacturer Harm Reduction Therapeutics said on Friday. The approval of the drug, called RiVive, will provide patients with another over-the-counter option in the United States, where drug-related overdose deaths surpassed 100,000 in 2021. Harm Reduction said it anticipates that RiVive will be available early next year, primarily to harm-reduction organizations and state governments. Harm Reduction Therapeutics has partnered with contract drug manufacturer Catalent Inc (CTLT.N) to manufacture RiVive. Reporting by Sriparna Roy and Bhanvi Satija in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: drugmaker, Michael Hufford, Sriparna Roy, Bhanvi, Pooja Desai Organizations: U.S . Food, Drug Administration, Therapeutics, Harm, Catalent Inc, Thomson Locations: U.S, United States, Bengaluru

☆ Trucking firm Yellow cuts jobs - WSJ
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

Companies Yellow Corp FollowJuly 28 (Reuters) - U.S. trucking firm Yellow (YELL.O) has laid off a large number of workers as the company copes with a cash crunch and weighs options including an imminent bankruptcy filing, people familiar with the actions told the Wall Street Journal on Friday. The third-biggest U.S. trucking company, which has been in ongoing negotiations with union of Teamsters-represented workers regarding worker benefits and pension accruals, averted a threatened strike on Sunday. WSJ had earlier reported that Yellow was preparing to file for bankruptcy. Yellow did not immediately respond to a Reuters request for comment. Reporting by Savyata Mishra in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Savyata Mishra, Pooja Desai Organizations: Wall, U.S, Teamsters, Thomson Locations: U.S, Bengaluru

☆ T-Mobile posts highest Q2 subscriber adds in eight years, beating estimates
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

July 27 (Reuters) - T-Mobile US (TMUS.O) topped Wall Street expectations for quarterly wireless subscriber additions on Thursday, as cost-conscious customers flocked to its cheaper plans and superior 5G services in a highly competitive market. The U.S. wireless carrier said it added 760,000 postpaid phone subscribers - its highest second-quarter additions in eight years. The figure was also higher than additions posted by rivals AT&T and Verizon and beat expectations of 708,800, according to Visible Alpha. Total revenue for the quarter fell 2.6% to $19.20 billion, missing analysts' estimate of $19.31 billion, according to Refinitiv data. By contrast, Verizon reported a churn of 0.83% for monthly phone subscribers, while AT&T's came in at 0.79%.

Persons: Samrhitha, Pooja Desai Organizations: Mobile, Sprint, AT, Verizon, Alpha, T's, Thomson Locations: U.S, Bengaluru

☆ Cadbury-maker Mondelez lifts annual revenue growth forecast on strong demand
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

July 27 (Reuters) - Mondelez International (MDLZ.O) on Thursday raised its annual 2023 revenue growth forecast for the second time this year, helped by robust demand for the Oreo maker's snacks and chocolates despite higher prices. Shares of the Cadbury chocolate maker rose 1.6% in after-hours trading as the company also beat second-quarter revenue expectations. Mondelez's upbeat forecast came on the back of a strong first quarter and indicated that consumers remained resilient to higher prices for their favorite snack brands. The company said it expects a full-year organic net revenue growth of more than 12% in 2023, up from a prior forecast of more than 10% growth. The company's net revenue rose 17% to $8.51 billion in the second quarter, surpassing analysts' average estimate of $8.21 billion.

Persons: Campbell, General Mills, Kraft Heinz, Savyata Mishra, Pooja Desai Organizations: Mondelez, Cadbury, Kellogg, Thomson Locations: Bengaluru

☆ Verisign posts higher revenue on demand for domain-name registry
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

July 27 (Reuters) - Internet services firm Verisign (VRSN.O) reported higher second-quarter revenue on Thursday on steady demand for its domain-name registry services and increasing reliance on internet infrastructure. The company reported second-quarter revenue of $372 million, compared with $351.9 million a year ago. Verisign posted a profit of $1.79 per share in the April-June period, higher than $1.54 per share in year-ago period. Meanwhile, it processed 174.4 million domain-name registrations, compared with 174.3 million in the second quarter of 2022. Reporting by Akash Sriram and Tanya Jain in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Verisign, Akash Sriram, Tanya Jain, Pooja Desai Organizations: Thomson Locations: Bengaluru

☆ Juniper Networks sees weak third-quarter revenue on lower cloud spending
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +1 min

July 13 (Reuters) - Juniper Networks (JNPR.N) forecast third-quarter revenue below market estimates on Thursday on lower spending by cloud computing clients in a turbulent economy, sending the shares of the networking equipment maker down 6% after the bell. Cloud service providers have been cutting back on orders for infrastructure equipment such as routers and switches in a blow for companies like Juniper Networks due to an overall drop in tech spending. Juniper, which also provides network management software for companies like AT&T, Seagate and BlackBerry, said it expects revenue of about $1.38 billion, plus or minus $50 million, in the third quarter. It forecast adjusted earnings per share of 54 cents, plus or minus 5 cents, which was below expectations of 62 cents. On an adjusted basis, the company earned 58 cents per share, compared with estimates of 55 cents.

Persons: Rami Rahim, Zaheer Kachwala, Pooja Desai, Arun Koyyur Organizations: Juniper Networks, Seagate, BlackBerry, Thomson

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