Apple smashes expectations in third quarter results | City A.M. July 31, 2018 Apple beat Wall Street expectations for its third quarter (Q3) results tonight, delivering revenue of more than $53bn (£40.4bn). Its revenue for the quarter was $53.3bn and its profit was $2.34 per share, outstripping predictions of $52.3bn and $2.18 per share. A higher average selling price for its iPhone helped to drive the impressive numbers. [...]
FAANGs out: Tech stocks open on a positive note after a bumpy earnings season | City A.M. July 31, 2018 Wall Street’s top tech stocks group have taken big hits this earning season, causing a stark difference in share prices across the board. However things seemed to pick up as markets opened in the US this afternoon, as falling prices pulled back on a bad week. The so-called FAANGs group – consisting of Facebook, Apple, [...]
AirPods, iPhones and Apple Music: Here’s what to expect from Apple’s results out tonight | City A.M. July 31, 2018 Apple’s so-called boring quarter could prove to be not so dull, with the whole world watching to see signs of new tech products and a potential share price boost that could make it the first US trillion-dollar company. The springtime months are often Apple’s lowest in terms of iPhone sales as everyone holds off in [...]
DEBATE: Is attempting to trademark a product’s shape, as Kit Kat tried to do, a good business strategy? July 27, 2018 Is attempting to trademark a product’s shape, as Kit Kat tried to do, a good business strategy? Elizabeth Finn, managing director of Cowan London, says YES. We live in an age where copycat products and brands are increasingly easy and cheap to produce. It is therefore vital that brands trademark as many aspects of their [...]
Amazon (AMZN) doubles down on profits, but misses estimates on revenue | City A.M. July 26, 2018 Amazon doubled consensus estimates on profits in its second quarter, as results released tonight revealed a staggering 1,157.5 per cent increase year-on-year in earnings per share. The company reported shareholder earnings for the quarter at $5.07 (£3.86), outperforming estimates collated by S&P Global Market Intelligence which predicted $2.54. In the same quarter in 2017, Amazon [...]
Spotify’s (SPOT) results get a rocky reception, as it hits subscriber growth at a €394m expense | City A.M. July 26, 2018 In its second financial report since going public, Spotify confirmed expectations that it won’t be profitable any time soon. The music streaming app, which listed on the New York Stock Exchange directly in April, revealed €1.27bn (£1.13bn) in revenue across its second quarter this afternoon, up 26 per cent year-on-year and in line with analyst [...]
Amazon doubles down on profits, but misses estimates on revenue July 26, 2018 Amazon doubled consensus estimates on profits in its second quarter, as results released tonight revealed a staggering 1,157.5 per cent increase year-on-year in earnings per share. The company reported shareholder earnings for the quarter at $5.07 (£3.86), outperforming estimates collated by S&P Global Market Intelligence which predicted $2.54. In the same quarter in 2017, Amazon [...]
Facebook has quietly set up shop in China, despite its sites being blocked there | City A.M. July 24, 2018 Facebook has opened a subsidiary with $30m (£22.2m) in registered capital in China, using its Hong Kong business as the sole shareholder. An official business registration was filed for the company in Hangzhou last week, Reuters first reported. Its operations will include network information technology development and related services, investment consultancy and marketing planning. Facebook’s [...]
Last Week in the City: August rate rise now less likely July 20, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (16 to 20 July 2018). The chances of an interest rate rise at the Bank of England’s August meeting appeared to recede this week after inflation data was more subdued than expected and retail sales data [...]
Amazon (AMZN) reaches $900bn market cap milestone in a race with Apple (AAPL) to become the first trillion-dollar company | City A.M. July 18, 2018 Tech giant Amazon briefly broke past the $900bn (£689.7bn) market value mark today, making it the second company ever to reach the milestone. The company hit $902bn in a session high earlier today, after its share price rose 0.8 per cent at $1,858.88. Apple is the only other company to be valued above that mark, [...]