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☆ The cushy Big Tech job is dead
▼ + stars: | 2024-02-16 | by ( Kali Hays | ) www.businessinsider.com time to read: +10 min

Hopping from one mid-six-figure salary job in Big Tech to the next? More tech workers get laid offOver the last 18 months, tech workers say it's felt difficult to stay employed as round after round of layoffs have swept Big Tech and the broader industry. The tech job market got tougherTo add insult to injury, keeping a job in tech isn’t the only thing that’s more difficult. Aline Lerner, a former tech engineer and founder of interviewing.io, a site for tech recruiting and mock interviewing for tech job seekers, said it's now much more difficult to land a tech job, particularly at a high-profile or Big Tech company. “Anecdotally, I’d say it’s the hardest it’s been to get a tech job since probably the dot-com bust," Lerner said.

Persons: I’ve, gainfully, Hacker, it's, Layoffs.fyi, Elon Musk, nix, Meta, Elon Musk's, Winni, you’re, they're, Aline Lerner, ” Lerner, “, Lerner, it’s, ” Organizations: Federal Reserve, Business, Big Tech, Tech, Google, Microsoft, ” Tech, Twitter, Menlo, Elon, The Washington Post, Getty Images Tech, “, Department of Education Locations: Big, LeetCode

☆ Big Tech workers come to grips with 'ZIRP,' as job anxiety grips a once cushy industry
▼ + stars: | 2024-02-16 | by ( Kali Hays | ) www.businessinsider.com time to read: +10 min

“Honestly, sometimes lately, I’ve thought my entire career is a ZIRP,” a tech worker recently reflected. More tech workers get laid offOver the last 18 months, tech workers say it's felt difficult to stay employed as round after round of layoffs have swept Big Tech and the broader industry. The tech job market got tougherTo add insult to injury, keeping a job in tech isn’t the only thing that’s more difficult. Aline Lerner, a former tech engineer and founder of interviewing.io, a site for tech recruiting and mock interviewing for tech job seekers, said it's now much more difficult to land a tech job, particularly at a high-profile or Big Tech company. “Anecdotally, I’d say it’s the hardest it’s been to get a tech job since probably the dot-com bust," Lerner said.

☆ Morgan Stanley names Asia-Pacific 'alpha' stock ideas for February — giving one nearly 80% upside
▼ + stars: | 2024-02-15 | by ( Weizhen Tan | ) www.cnbc.com time to read: +1 min

Overall, the MSCI Asia-Pacific index gained 11.8% for 2023, with the MSCI China index losing around 11%. Those interested in stock-picking rather than passive investing can look to Morgan Stanley's list of Asian stocks it calls "alpha" opportunities for February. India's Tata Consultancy , an IT services and consulting company, which was upgraded by Morgan Stanley to overweight in January, was named as another top idea. Morgan Stanley believes "resilient revenue, strong [earnings before interest and taxes] margins, and positive management commentary will likely sustain valuation premium if execution improves." These are some stocks from the full list of Morgan Stanley's top overweight-rated stocks for February.

Persons: Morgan Stanley's, Morgan Stanley, MediaTek, — CNBC's Michael Bloom Organizations: Investors, Nikkei, BSE, Alpha, Tata Consultancy Locations: Asia, China, India, Japan, —

☆ UK PM Sunak Paid More Than 500,000 Pounds in Tax Last Year
▼ + stars: | 2024-02-09 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +2 min

By Andrew MacAskill and Sachin RavikumarLONDON (Reuters) - British Prime Minister Rishi Sunak paid 508,000 pounds ($641,000) in tax in the last financial year after income from his investments dwarfed his official salary, a report by his accountants showed on Friday. The three-page published summary is the second time that Sunak has published details of his tax affairs since he became prime minister in 2022. The figures show that Sunak made 139,000 pounds from his salary as a member of parliament, finance minister and prime minister between April 2022 and March 2023, and 2.1 million pounds from investments. Of his income from investments, 1.8 million pounds came from capital gains, up from 1.6 million pounds a year earlier. About 70% of the total tax paid by Sunak was due to capital gains tax on the profit made from sales of investments such as stocks.

Persons: Andrew MacAskill, Sachin Ravikumar, Rishi Sunak, Sunak, Evelyn, Piers Morgan, David Milliken Organizations: Sachin Ravikumar LONDON, British, Indian IT, Infosys, Evelyn Partners Locations: Indian, Rwanda

☆ We've trained more than 200,000 employees on AI basics, says Indian IT services firm
▼ + stars: | 2024-01-30 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe've trained more than 200,000 employees on AI basics, says Indian IT services firmThierry Delaporte, CEO of Wipro, discusses the company's efforts to reskill its staff.

Persons: We've, Thierry Delaporte Organizations: Wipro Locations: Indian

☆ It’s not just Taylor Swift: AI-generated porn is targeting women and kids all over the world
▼ + stars: | 2024-01-26 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +8 min

It affects everybody.”But while the practice isn’t new, Swift being targeted could bring more attention to the growing issues around AI-generated imagery. Her enormous contingent of loyal “Swifties” expressed their outrage on social media this week, bringing the issue to the forefront. … It’s a reckoning moment.”‘Nefarious reasons without enough guardrails’The fake images of Taylor Swift predominantly spread on social media site X, previously known as Twitter. Although it reportedly took 17 hours for X to take down the photos, many manipulated images remain posted on social media sites. Other social media companies also have reduced their content moderations teams.

Persons: megastar Taylor Swift, “ It’s, ”, Danielle Citron, “, We’ve, Swift, “ Swifties ”, Taylor Swift, ” Citron, …, there’s, Ben Decker, Decker, Karine Jean, Pierre, Francesca Mani, Raymond González, Anita ”, David Jones, Jones, Betsy Kline Organizations: CNN, University of Virginia School of Law, Ticketmaster, Twitter, Meta, White, Westfield High School, Westfield, Communications Locations: New Jersey, Spain, unmoderated

☆ Everyone's buzzing about AI — including plenty of people who clearly don't understand it
▼ + stars: | 2024-01-17 | by ( Spriha Srivastava | ) www.businessinsider.com time to read: +4 min

BINigel Vaz, CEO of Publicis Sapient, a consulting firm, compares the buzz around AI to the early days of the internet. BINela Richardson, chief economist at ADP, told BI there's a big learning gap on what constitutes AI. Much of what is being called "generative AI" has been around for decades, while much of what workers think is AI is actually automation. Similarly, Guru Gowrappan, CEO of ViaSat, a communications operator, says many companies are just talking about AI at Davos — but not actually doing much with it. And some of them are just recategorizing what they were doing to call it AI," he tells BI.

Persons: —, I've, Davos — I've, Sheila Warren, there's, Warren, Nigel Vaz, Publicis, Vaz, Bain, Nela Richardson, Richardson, Ivana Bartoletti, Guru Gowrappan, Gowrappan Organizations: Service, Economic, Business, Davos —, Crypto, VR, Infosys, IBM, Accenture, Consulting, ADP, Wipro, ViaSat, Davos Locations: Davos

☆ 101 years before Rosa Parks, this woman integrated New York City's public transit
▼ + stars: | 2023-12-03 | by ( Yoonji Han | ) www.businessinsider.com time to read: +3 min

Jennings sued the streetcar company and was represented in court by Chester Arthur, the future US president. 10 years later, all of New York City's public transit systems were desegregated. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Then, African Americans were only allowed on trolleys with signs reading, "Colored People Allowed in This Train." Then, after a decade of continued activism and legal battles, all of New York City's public transit services were fully desegregated in 1865.

Persons: Elizabeth Jennings, Jennings, Chester Arthur, —, Rosa Parks, Thomas L, Arthur Organizations: Service, New York City, First Colored American Congregational Church, New York Tribune, New Yorkers, Third Avenue Railroad Company, New York Daily Tribune, Avenue Railroad Locations: New York, Montgomery , Alabama, Lower Manhattan

☆ US and India’s strengthening bond is weak on trust
▼ + stars: | 2023-11-30 | by ( Una Galani | ) www.reuters.com time to read: +4 min

REUTERS/Kevin Lamarque Acquire Licensing RightsMUMBAI, Nov 30 (Reuters Breakingviews) - Trust between the United States and India is eroding. It says it will investigate security concerns aired by the United States. Trying that on the United States would be more consequential: Apple (AAPL.O) and Tesla (TSLA.O) are looking to build supply chains in the country, and the U.S. is the largest market for India’s people-heavy IT services companies. The United States and India may draw a quick line under the murder-for-hire episode, but it will sow a lasting seed of doubt in the relationship. Prosecutors did not name the Indian official.

Persons: Kevin Lamarque, soberly, ”, Justin Trudeau, Joe Biden, Narendra Modi, Saudi Arabia’s Crown Prince Mohammed bin Salman, Jamal Khashoggi, Nikhil Gupta, “, Arindam Bagchi, Neil Unmack, Oliver Taslic Organizations: White, REUTERS, Rights, Reuters, U.S . Department of Justice, U.S, Companies, Micron, General Electric Aerospace, Ottawa, Global, Saudi Arabia’s Crown, Indian, U.S . Justice, New, New York City, Prosecutors, “ Security Management, Thomson Locations: India, Washington , U.S, Rights MUMBAI, United States, Delhi, American, China, Asia, Canada, U.S, Vietnam, Saudi, Istanbul, Manhattan, New York

☆ Hewlett Packard Enterprise beats quarterly profit estimates but forecast falters
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 28 (Reuters) - Hewlett Packard Enterprise (HPE.N) beat estimates for quarterly profit on Tuesday due to easing costs but unfavorable macroeconomic conditions led to a dour forecast for the current quarter. On an adjusted basis, the "edge-to-cloud" firm earned 52 cents per share, beating analysts' average estimate of 50 cents, according to LSEG data. In the fourth quarter, Texas-based HPE's net revenue fell 7% to $7.35 billion, marginally below estimates of $7.36 billion. Compute, its largest segment, reported revenue of $2.60 billion for the quarter, down nearly 31% from a year earlier. Annualized revenue run rate, a measure of future revenue, was up 39% at $1.30 billion in the quarter ended Oct. 31.

Persons: Brendan McDermid, Arsheeya, Maju Samuel Organizations: Hewlett Packard Enterprise Co, New York Stock Exchange, REUTERS, Hewlett Packard Enterprise, IT, Accenture, India's Tata Consultancy Services, Thomson Locations: New York City, U.S, HPE, Texas, Bengaluru

☆ Stocks making the biggest moves midday: Tesla, Warner Bros. Discovery, Boeing, HP and more
▼ + stars: | 2023-11-13 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Buyers could face possible legal action and Tesla may also refuse to sell future EVs to that individual or entity. Plug Power — Shares of the hydrogen developer added 1% after falling earlier in the session and plunging 40% Friday. On Monday, Wolfe Research downgraded Plug Power to peer perform from outperform, citing execution risk for financing operations. The downgrade came after Plug Power on Friday issued a going concern warning . The firm noted that the company recently topped consensus earnings estimates and expressed optimism over Health Catalyst's strong product portfolio and tech-enabled managed services (TEMS).

Persons: Tesla, Guggenheim, Wolfe, CrowdStrike, Henry Schein —, Henry Schein, Piper Sandler, GitLab, —, Sarah Min, Hakyung Kim, Alex Harring, Jesse Pound, Pia Singh, Tanaya Macheel Organizations: Warner Bros, Discovery, Boeing —, Dubai carrier Emirates, Boeing, Bloomberg, Nvidia —, Wolfe Research, StreetAccount, Tyson, Stifel, CrowdStrike Locations: China

The fallout has extended to Washington, where Republicans are hunting for evidence that could be used to impeach President Joe Biden. Republicans have highlighted a $200,000 personal check from Jim to Joe Biden on the same day — March 1, 2018 — that Jim Biden received an equal amount from Americore. Concerns that Jim Biden’s business ventures and missteps would cloud Joe Biden’s political career stretch back decades. Court records show the matter was dropped, and Jim Biden's representatives said the bill was paid. But he’s also angry at Jim Biden's brother.

Persons: ELLWOOD, Jim Biden, Joe Biden, Jim Biden wasn’t, Americore, It’s, Joe Biden’s, Hunter, Biden, Jim, ”, Paul Fishman, “, Ian Sams, Republicans won’t, ” Jim Biden, James Comer, he’s, ” Comer, Jim Biden's, Sara, Joe, Jill, Jim Biden’s, Barack Obama’s, Narendra Modi, Valerie, Frank, Beau, Beau Biden, ” Hunter, Uncle Jim, Hollywood Roosevelt, ‘, Let’s, ’ ”, Hurricane Irma, Tom Pritchard, Pritchard, ” Pritchard, Obama, Jim Biden “, ” Fishman, Michael Lewitt, Lewitt, Fishman, Biden’s, Grant White, ” White, Donald Trump, Scott Paglia, Paglia, ___ Suderman, Rhonda Shafner Organizations: ELLWOOD CITY, Health, House Republicans, Republicans, ., Democrats, Americore, Rep, Kentucky Republican, franchise, Senate, Delaware News, Oval, White, Indian, University of Delaware, Internal Revenue Service, CEFC China Energy . Records, American Express, U.S . Department of Veteran Affairs, Platinum Global Partners, Securities and Exchange Commission, Wall, Democratic, Associated Press Locations: Pa, Florida, Ellwood City, Pennsylvania, Washington, “, China, Philadelphia, Delaware, Mississippi, California, Los Angeles, Qatar, Saudi Arabia, South Florida, Delray Beach , Florida, Richmond , Virginia, New York

Maradona secured an EU trademark to his name for clothing, footwear, hospitality and IT services in 2008. The EU patent agency in a decision last year said Sattvica had not submitted documents confirming the transfer of the trademark to the company. Sattvica then took its case to the Luxembourg-based General Court, Europe's second highest. Sattvica can appeal to the EU Court of Justice, Europe's top court. The case is T-299/22 | Sattvica v EUIPO – Maradona and Others (DIEGO MARADONA).

Persons: Diego Maradona, Maradona, Sattvica, Maradona's, EUIPO, Europe's, Che Guevara, Evita Peron, EUIPO – Maradona, DIEGO MARADONA, Foo Yun Chee, David Evans Organizations: EU, Maradona, Justice, Thomson Locations: BRUSSELS, Argentine, EU, Luxembourg, Buenos Aires, Argentina

☆ Akamai sees Q4 profit above estimates on strong demand for cybersecurity services
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +1 min

Nov 7 (Reuters) - Akamai Technologies (AKAM.O) forecast fourth-quarter adjusted profit above Wall Street estimates on Tuesday, helped by strong demand for its cloud security services as rapid digitalization raises the risk of high-profile hacks. Spending on cybersecurity services have stayed resilient amid growing cyber crimes and privacy concerns even as companies tightened the budgets for other IT services. Cambridge, Massachusetts-based Akamai expects fourth-quarter adjusted profit at about $1.57 per share, compared with analysts average estimate of $1.54 per share, according to LSEG data. The company reported revenue of $965 million and adjusted profit of $1.63 per share for the quarter ended Sept. 30. Analysts expected revenue at $943.32 million and adjusted profit at $1.50 per share.

Persons: Akamai, Tanya Jain, Shilpi Majumdar Organizations: Akamai Technologies, Wall, Data Corporation . Cambridge, U.S . Department of Labor, Census Bureau, Department of Defense, eBay, Electronic Arts, Thomson Locations: Data Corporation . Cambridge , Massachusetts, Bengaluru

REUTERS/Dado Ruvic/File Photo Acquire Licensing RightsBENGALURU, Nov 7 (Reuters) - Wipro (WIPR.NS), India's fourth-largest IT services provider, is mandating that all its employees globally work from office at least thrice a week from this month, according to a company-wide email seen by Reuters on Tuesday. 2 software services exporter, asked some employees to return to office 10 days a month, while industry leader TCS (TCS.NS) has asked employees to return to the office for five days a week. Wipro has been encouraging employees to work from office thrice a week since May and about 55% of the workforce are currently working from office at that frequency, a company spokesperson said. Wipro had 244,707 employees as of Sept. 30. Starting Jan. 7 next year, consistent defaulters may face consequences, according to the email dated Nov. 6.

Persons: Dado, Sai Ishwarbharath, Varun, Savio D'Souza Organizations: Wipro, REUTERS, Rights, Reuters, Companies, Infosys, TCS, Varun Vyas, Thomson Locations: Bengaluru

☆ McCormick wants the US to divest from China. As a hedge fund manager, he oversaw investments in Chinese companies grow more than a thousand-fold
▼ + stars: | 2023-11-04 | by ( Em Steck | ) edition.cnn.com time to read: +5 min

However, as the head of the world’s largest hedge fund, McCormick oversaw massive investments into US exchange traded Chinese companies and holdings, according to a CNN KFile review of the hedge fund’s holdings. I held deep reservations about Bridgewater’s exposure to the moral and patriotic hazards of doing business in China,” McCormick said in September 2023 before officially launching his campaign. That amounts to a 108,000% increase in Chinese holdings over a five-year period. In 2017, Bridgewater reported investing in just one US exchange traded Chinese company; by the final quarter of 2021, its holdings included 47 Chinese companies. McCormick’s hedge fund also held an additional $779 million indirectly in Chinese companies through their investments in exchange traded funds.

Persons: David McCormick’s, McCormick, ” McCormick, Hugh Hewitt’s, CNN’s KFile, Bush, Mehmet Oz, Oz, Democrat John Fetterman, Bridgewater, Elizabeth Gregory, “, he’s, Ray Dalio –, thievery ”, ” Organizations: New, New York CNN, US, CNN, CCP, Bridgewater Associates, US Securities and Exchange, Bridgewater, Republican Party, Republican, Democrat, Chinese Communist Party, US Commerce Department Locations: New York, Pennsylvania, hardliner, China, McCormick’s, United States, Xinjiang, ”

☆ Cognizant forecasts quarterly revenue below estimates on weak corporate spending
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

The Teaneck, New Jersey-based company expects current-quarter revenue between $4.69 billion and $4.82 billion, compared with market estimates of $4.86 billion, according to LSEG data. Indian IT services giants Infosys (INFY.NS) cut the upper end of its annual revenue forecast earlier in Oct, raising concerns about near-term demand, while Tata Consultancy Services (TCS.NS) reported weaker-than-expected quarterly revenue. The company expects annual adjusted profit per share in the range of $4.39 to $4.42, from its prior estimate of between $4.25 and $4.48. Revenue for the third quarter stood at $4.90 billion, slightly below estimates of $4.91 billion. The company reported a profit of $1.04 per share, compared with $1.22 per share a year earlier.

Persons: Dado Ruvic, Cognizant, Jan Siegmund, Jaspreet Singh, Anil D'Silva Organizations: REUTERS, Technology Solutions, Wall, Infosys, Tata Consultancy Services, Accenture, Thomson Locations: Teaneck , New Jersey, Bengaluru

☆ Forget the megacaps. Bernstein likes these global stocks from an 'unloved' corner of tech
▼ + stars: | 2023-10-31 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

"Going forward, we still find valuation/earnings support for value tech stocks over growth or expensive tech names," the analysts wrote. "We would recommend avoiding expensive tech names as well as tech stocks that are unprofitable and expected to remain unprofitable." These are some names in its screen of value Asia tech stocks: MediaTek , JD.com , Lenovo Group , Foxconn Technology and Samsung SDS. And these are some of those that showed up on its screen of high-growth Asia tech stocks: Naver , SK Hynix , AAC Technologies , Luxshare and Kakao Games. On the whole, Bernstein is relatively positive on the Asia tech sector.

Persons: they're, Bernstein, we've, — CNBC's Michael Bloom Organizations: Stock, Lenovo Group, Foxconn Technology, Samsung SDS, SK Hynix, AAC Technologies, Kakao Locations: Asia, China, U.S

☆ Watch Gavin Newsom accidentally tackle a kid while playing basketball in China
▼ + stars: | 2023-10-30 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Gavin Newsom plowed into a student while playing basketball in China. On Friday, Newsom and his wife, Jennifer Siebel Newsom, visited the Beijing Yuying School. As part of his official duties, he toured the school's farm-to-school and agricultural science programs, a representative for Newsom told Insider. California Governor Gavin Newsom accidentally topples little kid during pickup game of basketball in Beijing. We are interdependent," Newsom told Amanpour.

Persons: Gavin Newsom, Newsom, —, Gavin Newsom's, Jennifer Siebel Newsom, Mike Sington, Xi Jinping, Xi, CNN's Christiane Amanpour, Amanpour Organizations: Service, Beijing Yuying School, Economic Cooperation, Politico Locations: California, China, Beijing, Hong Kong, Shanghai, Guangdong, Jiangsu, Asia, San Francisco

☆ A major student-loan company is transitioning millions of borrowers' accounts to a new platform — and it could mean up to 30-day delays posting payments
▼ + stars: | 2023-10-27 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Student-loan company MOHELA said on its website that it's transitioning borrowers to a new platform. The switch could mean up to 30-day delays in posting new payments. MOHELA borrowers will have to establish a new account on the platform, and its mobile app will no longer be available once the transition is complete. The announcement of this change comes less than a month after federal student-loan payments resumed following an over three-year pause. For borrowers on auto debit with their payments, MOHELA also said it'll have a new name on its new platform: auto pay.

Persons: MOHELA, —, Joe Biden's, Scott Buchanan, servicers —, it'll, Nelnet —, Nelnet Organizations: Service, Joe Biden's Education Department, Student Loan, —, The Education Department

☆ India's Tech Mahindra shares slide on biggest profit drop in 16 years
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: 1 min

Employees walk outside the cafeteria in the Tech Mahindra office building in Noida on the outskirts of New Delhi, India March 7, 2019. Picture taken March 7, 2019. REUTERS/Adnan Abidi/File photo Acquire Licensing RightsBENGALURU, Oct 26 (Reuters) - Shares of Indian IT services company Tech Mahindra (TEML.NS) fell as much as 3.7% in early trade on Thursday, a day after the company posted its biggest profit drop in 16 years. The company reported a 61.6% fall in its consolidated net profit for the September quarter, its worst performance since March 2007. Reporting by Kashish Tandon in Bengaluru; Editing by Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

Persons: Adnan Abidi, Kashish Tandon, Sohini Goswami Organizations: Tech Mahindra, REUTERS, Rights, Indian IT, Thomson Locations: Noida, New Delhi, India, Bengaluru

☆ India's Tech Mahindra posts biggest profit fall in 16 years
▼ + stars: | 2023-10-25 | by ( Manvi Pant | ) www.reuters.com time to read: +2 min

BENGALURU, Oct 25 (Reuters) - India's Tech Mahindra (TEML.NS) on Wednesday posted its biggest fall in profit in over 16 years as expenses mounted and clients tightened spending amid a tough macroeconomic environment. Tech Mahindra's net profit for the quarter fell 61.6%, its worst performance since March 2007. Consolidated revenue from operations fell 2.02% year-on-year, while expenses rose nearly 7%, led by a 30% jump in "other expenses." "Near-term demand environment remains challenging as the telecom sector, on which Tech Mahindra has a high dependence remains stressed," said Piyush Pandey lead analyst, Yes Securities. Shares of Tech Mahindra closed 1.2% lower ahead of results, with trade volume just shy of three-quarters of the 30-day average.

Persons: Piyush Pandey, Manvi, Varun Organizations: India's Tech Mahindra, Tata Consultancy Services, Infosys, Tech, Consolidated, Tech Mahindra, Yes Securities, Thomson Locations: BENGALURU, dealmaking, U.S, Europe, EBIT, Manvi Pant, Bengaluru

REUTERS/Brian Snyder/File photo Acquire Licensing RightsOct 25 (Reuters) - IT software and consultancy services provider IBM (IBM.N) reported third-quarter revenue slightly above Wall Street targets on Wednesday, buoyed by stable demand for its software solutions and a stronger-than-expected mainframe business. Shares of the Armonk, New York-based company rose 2% in trading after the bell. While the company has seen a slowdown in the growth of its overall business compared to last year, it reiterated its annual target for revenue growth and free-cash-flow generation. Revenue at its software segment, which now includes newly acquired IT budgeting software maker Apptio, rose nearly 8%, excluding the impact from a strong dollar. IBM's revenue in the third quarter rose about 5% to $14.8 billion, compared to an estimate of $14.73 billion, according to LSEG data.

Persons: Brian Snyder, Ernst &, James Kavanaugh, Chavi Mehta, Pooja Desai Organizations: REUTERS, IBM, Ernst & Young, Reuters, Big, Revenue, Thomson Locations: Cambridge , Massachusetts, U.S, , New York, United States, Bengaluru

☆ India's Coforge posts 16% jump in Q2 revenue, reiterates full-year forecast
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Oct 19 (Reuters) - Indian IT services company Coforge (COFO.NS) on Thursday reported a 16.2% jump in second-quarter revenue and reiterated its revenue growth forecast for fiscal year 2024, aided by new deal wins amid a challenging macroeconomic environment. Consolidated revenue from operations rose to 22.76 billion rupees ($273.4 million) for the quarter ended Sept. 30. Coforge's order intake for the quarter rose to $313 million, from $304 million last year. The company's revenue growth beat peers Tata Consultancy Services (TCS.NS), which missed estimates and LTIMindtree, which posted a smaller 8.2% increase. It, however, lagged behind Persistent Systems (PERS.NS), which posted an 18% growth in revenue and a 20% growth in profit.

Persons: Nishit Navin, Varun Organizations: Indian IT, Indian, Tata Consultancy Services, Thomson Locations: BENGALURU, Indian, LSEG, Bengaluru

☆ India's Wipro shares slide premarket on weak Q3 IT services forecast
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: 1 min

Wipro Ltd logo is seen displayed in this illustration taken, April 10, 2023. REUTERS/Dado Ruvic/Illustration//File Photo Acquire Licensing RightsBENGALURU, Oct 19 (Reuters) - Shares of India's fourth-largest IT services provider Wipro (WIPR.NS) fell 3.8% in premarket trading on Thursday after the company forecast a drop in third-quarter IT services revenue. The Bengaluru, Karnataka-based company also posted a surprise dip in its second-quarter revenue to 225.16 billion rupees ($2.70 billion) from a year earlier. ($1 = 83.2500 Indian rupees)Reporting by Varun Vyas in Bengaluru; Editing by Mrigank DhaniwalaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Varun Vyas, Mrigank Organizations: Wipro, REUTERS, Rights, Thomson Locations: Bengaluru, Karnataka

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