Technology 

India’s Infosys raises revenue guidance, but third-quarter profit misses estimate

FILE PHOTO: The logo of Infosys is pictured inside the company’s headquarters in Bengaluru, India, April 13, 2017. REUTERS/Abhishek N. Chinnappa/File Photo (Reuters) – Indian IT services company Infosys Ltd raised its full-year revenue growth forecast on Friday, but reported a larger-than-expected drop in third-quarter profit, due to higher expenses. The country’s second-biggest software services exporter by market capitalization reported a 29.6 percent fall in attributable profit for October-December to 36.09 billion rupees ($511.94 million). That compared with the 41.31 billion rupees average of 25 analyst estimates compiled by Refinitiv…

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Technology 

Foxconn December revenue dips, first time in 10 months

FILE PHOTO: The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company’s building in Taipei, Taiwan March 30, 2018. REUTERS/Tyrone Siu TAIPEI (Reuters) – Taiwan’s Foxconn, a key Apple Inc (AAPL.O) supplier, reported a 8 percent fall in its December revenue on Thursday, dampening its performance in 2018 amid tepid demand for electronics. Foxconn, formally known as Hon Hai Precision Industry Co Ltd (2317.TW), said in a stock exchange filing that revenue fell 8.3 percent to T$619.3 billion ($20.12 billion) in…

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Apple shares dive; rare revenue warning drags global markets

(Reuters) – Apple Inc shares plunged 10 percent on Thursday after the iPhone maker blamed weak China demand for a holiday-quarter revenue shortfall, with many investors worried the rare stumble was a harbinger for slowing global growth. Global financial markets felt the shockwaves as Apple shares logged their biggest intra-day percentage fall in six years, sending the company’s stock market value to under $700 billion, well below its $1.1 trillion October peak. After Apple’s first revenue warning in nearly 12 years, investors also dumped chipmakers and tech stocks and flocked…

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Technology 

Apple cuts revenue forecast on weak China sales

(Reuters) – Apple Inc on Wednesday cut the revenue forecast for its latest quarter, citing fewer iPhone upgrades and weak sales in China, and its shares tumbled in after-hours trade. People walk outside an Apple store in Beijing, China December 12, 2018. REUTERS/Jason Lee The company forecast $84 billion in revenue for its fiscal first quarter ended Dec. 29, which is below analysts’ estimate of $91.5 billion, according to IBES data from Refinitiv. Apple originally forecast revenue of between $89 billion and $93 billion. “While we anticipated some challenges in…

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Technology 

Apple cuts revenue forecast on weak China sales

Apple’s logo is seen outside flagship store downtown Milan, Italy, October 23, 2018. REUTERS/Stefano Rellandini (Reuters) – Apple Inc (AAPL.O) on Wednesday cut its current quarter revenue forecast, citing fewer iPhone upgrades and weak sales in China. The company forecast $84 billion in revenue for the first quarter, which is below analysts’ estimate of $91.5 billion, according to IBES data from Refinitiv. Apple originally forecast a revenue of between $89 billion and $93 billion for the current quarter. “While we anticipated some challenges in key emerging markets, we did not…

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Technology 

Huawei expects 2018 revenue to rise 21 percent despite international scrutiny

A man uses his phone as he walks past a Huawei shop in Beijing, China, December 19, 2018. REUTERS/Thomas Peter HONG KONG (Reuters) – Huawei Technologies [HWT.UL] is expected to record a 21 percent jump in revenue for 2018 to $109 billion, its rotating chairman said, marking the Chinese tech giant’s fastest pace of business growth in two years despite heightened global scrutiny of its activities. In his new year’s address to employees, Guo Ping also said Huawei has secured 26 5G contracts and expects its smartphone shipments for 2018…

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Micron quarterly revenue misses estimates on falling chip prices

Memory chip parts of U.S. memory chip maker MicronTechnology are pictured at their fair booth at an industrial fair in Frankfurt, Germany, July 14, 2015. REUTERS/Kai Pfaffenbach/File Photo (Reuters) – Chipmaker Micron Technology Inc (MU.O) on Tuesday missed Wall Street estimates for quarterly revenue, hurt by falling prices for its memory chips due to a supply glut. Shares of the Boise, Idaho-based company fell 1 percent after the bell. The semiconductor industry is battling price declines due to oversupply of DRAM and NAND memory chips, with Micron trying to overcome…

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Adobe’s quarterly revenue surges 23 percent

An Adobe Systems Inc software box is seen in Los Angeles, California, U.S., March 13, 2017. REUTERS/Lucy Nicholson (Reuters) – Adobe Systems Inc on Thursday reported a 22.8 percent rise in quarterly revenue, helped by higher subscriptions for its flagship Creative Cloud suite of software that includes Photoshop. The San Jose, California-based company’s net income rose to $678.2 million, or $1.37 per share, in the fourth quarter ended Nov. 30, from $501.5 million, or $1 per share, a year earlier. Total revenue rose to $2.46 billion from $2.01 billion. Reporting…

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Dell posts revenue jump ahead of voting on VMware offer

(Reuters) – Dell Technologies Inc (DVMT.N) reported a 15 percent rise in quarterly revenue on Thursday, as businesses were forced to upgrade their systems running on older Windows technology, as well as strong performance in software maker VMware Inc. A Dell gaming computer is shown at the E3 2017 Electronic Entertainment Expo in Los Angeles, California, U.S. June 13, 2017. REUTERS/ Mike Blake The results come ahead of voting on the company’s offer to buy back shares tied to its 81 percent economic stake in software maker VMware (VMW.N), which…

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HP Inc tops revenue estimates on growth in personal systems business

The Hewlett-Packard (HP) logo is seen as part of a display at the Microsoft Ignite technology conference in Chicago, Illinois, May 4, 2015. REUTERS/Jim Young/File Photo (Reuters) – HP Inc (HPQ.N), which houses the hardware business of former Hewlett-Packard Co, reported quarterly revenue that beat analysts’ estimates on Thursday, driven by growth in its personal systems that sells notebooks and desktops and the acquisition of Samsung’s printer business. The personal systems business, which accounts for more than 60 percent of HP Inc’s total revenue, rose 11 percent to $10.06 billion,…

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