AstraZeneca: Revenue boost despite welcome end of Covid-19 jab sales July 28, 2023 Britain’s biggest FTSE firm AstraZeneca reported an uptick in sales as oncology treatments helped pick up the slack from falling sales of Covid-19 medicines. The pharmaceutical company made over $22.2bn (£17.3bn) – a four per cent increase – during the first half of 2023, causing shares to spring over three per cent on market open [...]
Samsung profits tank 95 per cent as chip demand dwindles July 27, 2023 Samsung experienced a 95 per cent plunge in profit during their second quarter, causing shares to drop over three per cent on Thursday. The Korean electronics company reported an operating profit of 670bn Korean won (£407m) for the three months ending 30 June, its lowest in 14 years, and significantly down from the 14.1t (£8.5bn) [...]
Mastercard beats profit estimates on spending boost July 27, 2023 Mastercard on Thursday reported a bigger-than-expected rise in second-quarter profit, boosted by resilient spending in a turbulent economy.
BT: Departing Jansen’s investment in fibre and Openreach pays off with revenue jump July 27, 2023 Telecoms giant BT has today reported a notch up in revenue after continued successful roll out of their Openreach full fibre broadband. The British mobile network operator’s revenue grew to nearly £5.2m in the first quarter this year, up four per cent from the same period in 2022. This was mainly driven by revenue from [...]
IQE meets £52m revenue targets amid challenging semiconductor market July 26, 2023 Global semiconductor supplier IQE has performed in line with expectations during the first half of the year. The British manufacturer will hit a revenue of “at least” £52m in line with market guidance and management expectations, IQE said today in an unaudited pre-close trading update for the six months ended 30 June 2023. The AIM-listed [...]
Google and Microsoft AI showdown continues July 26, 2023 After Microsoft and Google’s parent company, Alphabet, reported better-than-expected results yesterday, analysts say the race to dominate the burgeoning AI field is moving quickly. Alphabet’s robust performance saw a 3.3 per cent surge in ad revenue, as search revenue hit $42.63bn (£32.98bn), causing shares to climb six per cent on Wednesday. Despite the market applause, [...]
Musk’s mad superapp-etite: Why his ‘everything app’ might miss the mark July 26, 2023 Another week, another Elon Musk melodrama. In yet another episode of his theatrics, the tech-obsessed billionaire unveiled his latest surprise this week: a dramatic overhaul of Twitter and rebrand of it as ‘X’. Musk said the name ‘Twitter’ “does not make sense” after the original short-messaging ethos with a 140 character limit having been scrapped [...]
Google parent firm Alphabet’s profit ahead of expectations thanks to ad rebound July 26, 2023 Google owner Alphabet’s second-quarter profit exceeded expectations as it announced that long-time CFO, Ruth Porat, would assume a new role while the company sought a new finance chief. Alphabet’s results were helped by steady demand for its cloud services and a rebound in advertising. The shares jumped 8 per cent in after-hours trading. Shares of [...]
Microsoft charges ahead with spending to serve AI demand July 26, 2023 Microsoft on Tuesday laid out an aggressive spending plan to meet demand for its new artificial intelligence services after surpassing Wall Street estimates for fiscal fourth-quarter revenue and profit. Costs rose sharply as Microsoft built new data centers to support AI, and Chief Financial Officer Amy Hood said on a conference call with analysts the company’s capital expenditures [...]
WANdisco: Crisis-hit tech firm calls in tech stalwart Stephen Kelly to steady the ship July 26, 2023 WANdisco has announced tech stalwart Stephen Kelly will stay on as its permanent chief today after the firm was readmitted to trading yesterday following a fraud scandal. The firm has been mired in crisis since revealing in April that over $115m in sales bookings would be written off its results due to “potentially fraudulent irregularities” [...]