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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Tesla third-quarter profit quiets critics, shares surge

(Reuters) – Tesla Inc shares jumped on Thursday as Wall Street analysts said the company had turned a corner with profitable third quarter results and might not now need to raise outside capital. Rising 12 percent at one point in early trading, the move in shares added as much as $6 billion to Tesla’s market value, capping a tumultuous few months for the company and its billionaire chief executive, Elon Musk. Tesla shares hit a record in August but sank back as Musk was sued by short-sellers and U.S. regulators…

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Amazon third-quarter sales, current-quarter forecast miss estimates

A logo of the Amazon fulfillment is seen outside the Amazon fulfillment center in Kent, Washington, U.S., October 24, 2018. REUTERS/Lindsey Wasson (Reuters) – Amazon.com Inc’s (AMZN.O) third-quarter sales missed analyst estimates and it forecast sales and operating income for the current quarter below estimates, sending shares of the online retailer down more than 5 percent in late trade. The company forecast net sales of between $66.5 billion and $72.5 billion for the fourth quarter, below analysts’ estimates of $73.9 billion. Amazon also expects operating income between $2.1 billion and…

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South Korea’s SK Hynix posts record third-quarter profit as chip outlook dims

SEOUL (Reuters) – South Korea’s SK Hynix Inc posted record third-quarter operating profit on Thursday despite softer chip prices, beating expectations thanks to a seasonal sales boost for mobile devices and strong server demand. FILE PHOTO: The logo of SK Hynix is seen at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-Ji/File Photo/File Photo The world’s No.2 memory chipmaker said July-September operating profit rose 73 percent year-on-year to 6.5 trillion won ($5.7 billion). That compared with a 6.3 trillion won average forecast from 19 analysts, according to…

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Chipmaker AMD’s third-quarter revenue rises 4 percent

(Reuters) – Chipmaker Advanced Micro Devices Inc’s (AMD.O) quarterly revenue rose 4 percent, helped by higher sales of its processors and graphics chips used in computers and data centers. FILE PHOTO: Visitors look at motherboards being displayed at the AMD booth during the 2012 Computex exhibition at the TWTC Nangang exhibition hall in Taipei June 6, 2012. REUTERS/Yi-ting Chung/File Photo GLOBAL BUSINESS WEEK AHEAD AMD said on Wednesday net income climbed to $102 million or 9 cents per share in the third quarter ended Sept. 29, from $61 million or…

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STMicro third-quarter profits rise on strong automotive, imaging sales

PARIS (Reuters) – Franco-Italian chipmaker STMicroelectronics reported a jump in third-quarter sales and profits, driven by a strong performance of its automotive and imaging businesses. Quarterly net revenue rose 11.2 percent from the second-quarter to $2.52 billion, slightly above the company’s midpoint target. Operating income rose by 38 percent over the period to $398 million. Gross margin stood at 39.8 percent. STMicro said it expected fourth-quarter revenues to grow by about 5.7 percent from the previous quarter, with a gross margin of 39.8 percent. Reporting by Mathieu Rosemain and Gwenaelle…

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Ericsson tops third-quarter forecasts as savings and 5G sales kick in

STOCKHOLM (Reuters) – Mobile telecom equipment maker Ericsson beat third-quarter operating profit forecasts on Thursday, boosted by sales of next-generation 5G gear in North America, and said it was making solid progress toward its long-term financial goals. FILE PHOTO: The Ericsson logo is seen at the Ericsson’s headquarters in Stockholm, Sweden June 14, 2018. REUTERS/Olof Swahnberg Marking its third consecutive quarter of substantial progress toward its 2020 financial targets, the company reported net sales rose 9 percent to 53.8 billion Swedish crowns ($6 billion) thanks to strong growth in its…

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Sweden’s Ericsson third-quarter sales, profits surge as savings kick in

STOCKHOLM (Reuters) – Mobile telecom equipment maker Ericsson on Thursday posted operating profits well above forecasts, boosted by rising sales for next-generation 5G gear in North America, and said it was making solid progress towards its long-term financial goals. FILE PHOTO: The Ericsson logo is seen at the Ericsson’s headquarters in Stockholm, Sweden June 14, 2018. REUTERS/Olof Swahnberg Marking its third consecutive quarter of substantial progress toward hitting its 2020 financial goals, the company said its mainstay networks segment showed strong sales growth in North America, Europe and Latin America.…

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Samsung Electronics third-quarter profit seen at record, but peaking, as chips shine

SEOUL (Reuters) – Samsung Electronics Co Ltd (005930.KS) is set to post a hefty jump in third-quarter profit to record levels after its chip unit put in a sterling performance on demand from data centers and improved production yields. FILE PHOTO: Visitors in front of a Samsung logo during the preview day of the IFA trade show for consumer electronics and home appliances, in Berlin, Germany August 30, 2018. REUTERS/Christian Mang/File Photo The July-September quarter is, however, expected to mark a peak in earnings as a two-year super cycle of…

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TSMC says third-quarter revenue hit by computer virus

TAIPEI (Reuters) – A computer virus outbreak has hit third-quarter results at Taiwan Semiconductor Manufacturing Company Ltd, the world’s largest contract chipmaker, the company said on Sunday. A logo of Taiwan Semiconductor Manufacturing Co (TSMC) is seen at its headquarters in Hsinchu, Taiwan October 5, 2017. REUTERS/Eason Lam On Saturday, TSMC, a major supplier for Apple Inc, said that a number of its computer systems and fab tools had been infected by a virus, but the problem had been contained. The company expects full recovery on Aug. 6, the company…

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