DIRS.INFO The most relevant business & tech news

The company’s revenue was slightly better than what Wall Street had expected, but it nonetheless represented the second consecutive quarterly revenue decline for the iPhone maker. Despite the continued revenue decline, there were bright spots in the report. Apple also posted an all-time services sales record of $20.9 billion for the quarter. The services business — which includes Apple Music and Apple TV+ — is an increasingly important revenue driver for Apple that is less cyclical than hardware sales. Apple’s latest quarterly earnings report comes amid a sharp decline in PC and smartphone sales globally after a surge earlier in the pandemic.

☆ Uber’s revenue climbs 29% as it continues to defy tech slump
▼ + stars: | 2023-05-02 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

CNN —Uber on Tuesday reported revenue of $8.8 billion for the quarter ending in March, a 29% increase from the same period last year and beating Wall Street’s estimates. The company’s continued strength comes despite lingering recession fears and stands in stark contrast to the slowing growth at other tech companies. It also sets Uber apart from its chief rival Lyft, which is undergoing significant layoffs and a shakeup in its C-Suite. Even with higher interest rates and tighter access to capital, Khosrowshahi said “we are well positioned to improve our competitive position across our key markets.”Shares for Uber surged more than 8% in pre-market trading Tuesday morning. Uber has largely avoided having to undergo the significant layoffs that have dominated headlines in Silicon Valley in recent months.

☆ Amazon earnings: Company posts $3.2 billion profit as it goes through multiple rounds of layoffs
▼ + stars: | 2023-04-27 | by ( Krystal Hur | ) edition.cnn.com time to read: +1 min

The e-commerce giant on Thursday reported a profit of $3.2 billion for the first quarter, up from a loss of $3.8 billion in the year ago quarter and far exceeding analysts estimates. The swing to a profit comes as Amazon (AMZN) has ramped up its cost-cutting measures in recent months. It also comes as key areas of Amazon’s business continue to grow despite lingering recession fears possibly weighing on corporate and consumer spending. Amazon expects second-quarter net sales to grow between 5% and 10% from the same period the year before, or be between $127 billion and $133 billion. “The results indicate that ongoing cost-cutting measures are having a positive impact on Amazon’s business prospects,” said Jesse Cohen, senior analyst at Investing.com.

Across the company, Alphabet will "meaningfully" slow its pace of hiring this year, said Porat. Net income fell to $13.62 billion, or $1.05 per share, from $20.64 billion, or $1.53 per share, a year earlier. Adjusted profit of $1.05 per share fell short of an expected $1.18 per share, according to Refinitiv. Revenue from Google advertising, which includes Search and YouTube, fell 3.6% to $59.04 billion. Late last month, the Justice Department and eight states sued Google over what they said were anticompetitive practices in its digital ad sales.

Shares of Alphabet, were down about 4% in after-hours trading, after losing about 40% of their value in 2022. Revenue from Google advertising, which includes Search and YouTube, fell 3.6% to $59.04 billion. Alphabet's net income fell to $13.62 billion, or $1.05 per share, from $20.64 billion, or $1.53 per share, a year earlier. Adjusted profit of $1.05 per share fell short of an expected $1.18 per share, according to Refinitiv. Like rivals, Alphabet had bulked up during the pandemic and into last year, adding 12,700 new jobs in the third quarter alone.

Feb 1 (Reuters) - Meta Platforms Inc's (META.O) stricter cost controls this year and a new $40 billion share buyback sent shares soaring on Wednesday, as CEO Mark Zuckerberg called 2023 the "Year of Efficiency." The parent of Instagram and Facebook cut its cost outlook for 2023 by $5 billion to a range of $89 billion-95 billion, and projected first-quarter sales that could beat Wall Street estimates. Shares of peer Alphabet Inc (GOOGL.O) were up 3.3% and Snap Inc (SNAP.N) stock rose 1% in after-hours trade on Wednesday. "Despite all the challenges Meta must deal with, there are signs the business is still doing well," Cohen said. The company forecast first-quarter revenue between $26 billion and $28.5 billion, compared with analysts' average estimates of $27.14 billion, according to Refinitiv.

Feb 1 (Reuters) - Meta Platforms Inc's (META.O) stricter cost controls this year and a new $40 billion share buyback sent shares soaring on Wednesday, as CEO Mark Zuckerberg called 2023 the "Year of Efficiency." The parent of Instagram and Facebook cut its cost outlook for 2023 by $5 billion and projected first-quarter sales that could beat Wall Street estimates. The company forecast first-quarter revenue between $26 billion and $28.5 billion, compared with analysts' average estimates of $27.14 billion, according to IBES data from Refinitiv. Meta stock was up 18.3% in after-hours trade. The company reported adjusted earnings of $1.76 per share, missing the average analysts' estimate of $2.22 per share.

☆ Meta shares surge nearly 20% as Zuckerberg pledges to make 2023 a ‘year of efficiency’
▼ + stars: | 2023-02-01 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —For years, Facebook and its CEO Mark Zuckerberg invested heavily in growth, including in areas like virtual reality with unproven potential. All of that helped send shares of Meta up nearly 20% in after hours trading Wednesday. Meta reported nearly $32.2 billion in revenue for the quarter, down 4% from the year prior but ahead of the $31.5 billion analysts had projected. The guidance is somewhat better than Snapchat-parent Snap’s from earlier in the week, which said it expects first quarter revenue to fall between 2% and 10% compared to the previous year. The company also lost a total of more than $13.7 billion in its “Reality Labs” unit which houses its metaverse efforts.

☆ IBM cuts 3,900 jobs, misses annual cash target
▼ + stars: | 2023-01-26 | by ( Chavi Mehta | ) www.reuters.com time to read: +2 min

Jan 25 (Reuters) - IBM Corp (IBM.N) on Wednesday announced 3,900 layoffs as part of some asset divestments and missed its annual cash target, dampening cheer around beating revenue expectations in the fourth quarter. Analysts said news of the job cuts and free cash flow miss was behind the drop. read moreIBM's 2022 cash flow was $9.3 billion, below its target of $10 billion, due to higher-than-expected working capital needs. In October, IBM flagged softness in new bookings in Western Europe while peer Accenture Plc noted weakness in its consulting business. For 2022, IBM recorded revenue growth of 5.5%, its highest in a decade.

Although iPhone sales were not as strong as some analysts had targeted, they were still a record for the September quarter. Minutes before Apple reported, Amazon.com AMZN.O added to tech sector misery, predicting a holiday profit slump that sent its shares down 20%. Apple's iPhone sales for the company's fiscal fourth quarter rose to $42.6 billion, when Wall Street expected sales of $43.21 billion, according to Refinitiv IBES. The company reported sales of iPads were $7.2 billion, compared with the average estimate of $7.94 billion. In China, which has experienced a sharp economic slowdown, Apple reported fourth-quarter sales of $15.5 billion.

[1/2] The logo of Apple company is seen outside an Apple store in Bordeaux, France, March 22, 2019. Although iPhone sales were not as strong as some analysts had targeted, they were still a record for the September quarter. Maestri said iPhone sales set a record for the September quarter, improving 10% over the prior year's quarter and exceeding the company's forecast. In China, which has experienced a sharp economic slowdown, Apple reported fourth-quarter sales of $15.5 billion. That is a gain from the prior quarter, when Apple logged sales of $14.6 billion.

☆ Amazon stock falls nearly 20% on light holiday quarter sales forecast
▼ + stars: | 2022-10-27 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

CNN —Amazon (AMZN) stock fell nearly 20% in after-hours trading Thursday after the company forecast its holiday quarter sales would be lighter than analysts had expected. The weaker forecast comes as rising inflation and looming recession fears weigh on consumer purchasing decisions. Amazon reported revenue of $127.1 billion for its third-quarter, a 15% increase from the prior year but just missing Wall Street estimates. The company reported its Amazon Web Services segment sales increased 27% year-over-year to $20.5 billion – representing a slower pace of growth for a closely-watched business unit than Wall Street had expected. Amazon initially saw its business boom during the pandemic, as more consumers relied on online shopping.

[1/3] The logo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York City, New York, U.S., November 17, 2021. A strong dollar has hurt the overseas profits of large firms, while soaring inflation has prompted interest rate hikes and companies to raise product prices, even as consumers have been forced to cut spending. Google's results bode ill for Facebook parent Meta Platforms (META.O), which is especially reliant on advertising and reports results on Wednesday. Last week, its smaller rival Snap Inc (SNAP.N) forecast no revenue growth for the holiday quarter, setting off warning bells in the social media industry. Shares in Spotify (SPOT.N), which also warned on slow advertising growth, slid 4%.

☆ Fund manager names 3 recession-proof stocks and reveals how to rescue your portfolio if underwater
▼ + stars: | 2022-10-26 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Semiconductor and growth stocks have tanked this year, bonds are underwater and even the S & P 500 is in a bear market. Many investors hold on to loss-making positions taking on "emotional pain" in the process, according to the portfolio manager. "The best investors in the world probably are right 60-70% of the time," Arcese told CNBC, speaking from Singapore. Stock picks The fund manager named three stocks that will "will work, kind of, in any type of economic environment" — UnitedHealth Group , Air Products , and Freeport McMoRan . Air Products, an industrial chemicals company, is an inflation hedge and an "incredibly defensive company," according to Arcese.

[1/3] The logo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York City, New York, U.S., November 17, 2021. Google's results bode ill for Facebook parent Meta Platforms (META.O), which is especially reliant on advertising and reports results on Wednesday. Microsoft fell 2% and chipmaker Texas Instruments , which forecast quarterly revenue and profit below estimates, was down 5%. Shares in Spotify (SPOT.N), which also warned on slow advertising growth, slid 4%. "During the quarter we experienced expected weakness in personal electronics and expanding weakness across industrial," said TI boss Rich Templeton.

Last week, smaller rival Snap Inc's (SNAP.N) slowest-ever revenue growth rate sent inflation fears through tech sector and temporarily wiped out $40 billion in market capitalization. Google's advertising revenue was $54.48 billion in the third quarter, compared with $53.13 billion last year but came in below analysts' expectations. "Google’s earnings miss this quarter proves it’s not immune to the challenges facing the digital advertising industry at large," said Jesse Cohen, senior analyst at Investing.com. Alphabet's net income fell to $13.91 billion, or $1.06 per share, from $18.94 billion, or $1.40 per share, a year earlier. Revenue from Google Cloud rose to $6.9 billion during the quarter, from $5 billion a year earlier.

☆ Microsoft earnings hit by personal computing slowdown
▼ + stars: | 2022-10-25 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +3 min

CNN Business —Microsoft posted a double-digit profit decline in the three-month period ending in September as the company confronted a slowdown in the personal computing industry and a broader economic downturn. Microsoft (MSFT)’s revenue, meanwhile, grew a modest 11% to $50.1 billion. Other parts of Microsoft’s business declined. Microsoft said revenue from its Windows OEM operations fell 15% from the year prior, which comes as demand for personal computers has fallen sharply on the heels of a pandemic-fueled boom. Shares of Microsoft fell 2% in after-hours trading Tuesday following the earnings report.

☆ Google’s core business is slowing down amid recession fears
▼ + stars: | 2022-10-25 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN Business —Google may be the giant in the digital advertising world, but even it is not immune to the impact that the economic downturn and recession fears are having on the online ad market. It reported revenue of nearly $69.1 billion, up just 6% from the same period in the prior year. YouTube’s ad business, which competes with TikTok, was especially hard hit, with revenue declining nearly 2% from the year-ago quarter. High inflation, looming recession fears and the ongoing war in Ukraine have all continued to weigh on the industry. Growth in other areas of Google’s business also appear to be slowing.

☆ Elon Musk's lofty goals came back to bite him again — and it's only going to get harder from here
▼ + stars: | 2022-10-20 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

Some analysts question whether Tesla has enough demand to grow sales 50% each year. Tesla CEO Elon Musk remains optimistic about Tesla's plans and said it's on its way to an "epic end of year." Those bold targets came back to bite the Tesla CEO when the company reported lower-than-expected deliveries for the July-September period. Musk said "there weren't enough boats, there weren't enough trains, there weren't enough car carriers" to transport new Teslas from factories to customers. Even as it's accelerated its own sales, Tesla has been losing share of the electric market as EV sales ramp up globally.

☆ IBM expects to exceed annual revenue target on resilient cloud momentum
▼ + stars: | 2022-10-19 | by ( Chavi Mehta | ) www.reuters.com time to read: +2 min

Oct 19 (Reuters) - IBM Corp (IBM.N) beat quarterly earnings estimates on Wednesday and said it expects to exceed full-year revenue growth targets as robust demand for the company's digital services helps cushion the blow from a strong dollar. IBM, whose cloud revenue rose 11% to $5.2 billion in the quarter, now expects the company's annual sales to increase more than its previous estimate of mid-single-digit growth at constant currency. IBM, which gets more than half its revenue from outside the United States, increased its full-year estimate for foreign exchange impact to 7% from 6%. Revenue came in at $14.12 billion, compared with $13.51 billion expected by analysts, according to Refinitiv data. On an adjusted basis, IBM earned $1.81 per share, beating estimates of $1.77.

Now, Netflix is gunning for the last reel of the pay TV business: its estimated $153 billion pool of global advertising revenue. The company and some analysts see its new, cheaper ad-supported service, detailed in a rosy quarterly report on Tuesday, as a way to lift revenue as customers trim spending amid economic gloom. As TV's audience shrinks, it becomes less attractive for advertisers - and a plum target for Netflix to disrupt. Netflix plans to launch an ad-supported version of its service in the United States and 11 other countries in November. Some Wall Street analysts said the ad-supported version of the Netflix service might entice some price-sensitive existing subscribers to switch to the less-expensive option.

☆ Paper shortages — and skyrocketing prices — are pinching political candidates during election 2022 crunch time
▼ + stars: | 2022-10-19 | by ( Madison Hall | ) www.businessinsider.com time to read: +7 min

Political candidates are facing an expensive enemy this election season: paper shortages. Distributors and printers told Insider that the cost of paper has risen anywhere between 10% to 60%. Political candidates use paper for a plethora of marketing materials, including mailers, posters, lawn signs, flyers, and, envelopes — and jurisdictions across the country also use paper for ballots. The majority of campaigns did not reply or declined to comment, but Republican candidates who responded universally blamed President Joe Biden for the paper shortage. The real reason for the shortageMilligan told Insider there's been a 40% reduction in paper consumption during the last 10 years.

☆ Нефть дешевеет из-за роста запасов в США
▼ + stars: | 2020-09-28 | by ( ) point.md time to read: +1 min

Цены на нефть снизились 28 октября, растеряв часть набранного на предыдущей сессии преимущества, поскольку резкое увеличение запасов в США и рост числа случаев коронавируса усилили опасения об избытке предложения и ослаблении спроса. Цена фьючерсов на нефть WTI на декабрь на электронных торгах нью-йоркской товарной биржи NYMEX снизилась на $0,87 (2,20%) к уровню предыдущей сессии - до $38,70 за баррель. "Превысивший прогнозы рост запасов нефти в США спровоцировал новую распродажу, в то время как опасения по поводу перебоев поставок из-за урагана "Зета" снизились", - сказал Хироюки Кикукава, генеральный директор по исследованиям в Nissan Securities. Накануне росту нефтяных цен способствовали новости о приближении к побережью США в Мексиканском заливе урагана "Зета". По состоянию на 09:15 по киевскому времени цена на нефть марки Brent установлена на уровне 40,74 доллара за баррель.

Persons: ukrinform.ru, Brent, Brent 41,03, Хироюки Кикукава Organizations: ukrinform.ru Brent ICE, Nissan Securities, Investing.com, ICE Futures, NYMEX, Американский институт нефти (API), Nissan Securities, Бюро по вопросам безопасности и охраны окружающей среды Locations: США, Мексиканский залив

Search resuls for: "investing.com"

23 mentions found