TikTok rejects Microsoft, chooses Oracle as “tech partner”

Written on Monday, 14 September 2020 07:25
ByteDance has rejected Microsoft’s offer for its TikTok operations in the US and has reportedly chosen Oracle as “trusted tech partner”. The Oracle bid would next need approval from the White House and Committee on Foreign Investment in the United States, with both parties under the belief it would meet US data security concerns. TikTok has been at the center of a diplomatic storm between the US and China, and President Donald Trump has given Americans a deadline to stop…

Zoom profits double as revenue quadruples

Written on Tuesday, 01 September 2020 06:58
Zoom shares soared after the video-meeting service reported that quarterly revenue rocketed as its ranks of users more than quadrupled. Revenues leaped 355% to $663.5m for the three months ending 31 July, beating analysts' expectations of $500.5m. Profits soared to $186m, while customer growth rose 458%, compared with the same period in 2019. Video conferencing apps remain crucial due to the increase in remote working. Zoom's shares hit a record high, closing at $325.10, as the firm raised its annual…

Oracle joins Microsoft, Twitter in race to buy TikTok

Written on Tuesday, 18 August 2020 08:08
Software giant Oracle is weighing a bid to join Microsoft and Twitter in the race to acquire part of TikTok, it is reported. Oracle is “seriously considering” buying TikTok US, Canada, Australia and New Zealand, according to the report. The Financial Times sources added that ByteDance is also working with investment firms such as General Atlantic and Sequoia Capital to find a buyer. The US government has ordered TikTok parent ByteDance to sell off its US operations within 90 days. …
HMD Global, the maker of Nokia brand phones, announced it has raised USD 280 million in new financing from investors including Google, Qualcomm and Nokia. The money will go to strengthening its product offering, including 5G devices and new services, and expanding in new markets, such as Brazil, India and Africa. The company announced four areas where it plans to invest. First, is affordable 5G smartphones, "with an emphasis on strong partnerships with US carriers". Second, HMD Global will further…

Microsoft revenue rises as remote work boosts cloud

Written on Thursday, 30 April 2020 10:38
Microsoft reported higher results for its fiscal third quarter to end March, powered by sharp demand for its Teams chat and online meeting app and cloud computing services as the world shifted to working and playing from home because of the novel coronavirus pandemic. Microsoft Teams now has 75 million daily active users. This comes as the coronavirus pandemic has forced businesses to operate remotely, and has boosted the demand for Microsoft's products that enable communication and collaboration. The company…

Samsung net profits down by 3% in Q1

Written on Wednesday, 29 April 2020 10:50
Samsung has reported its financial results for the first quarter of 2020 which showed decreased profits due to the pandemic.

Google earnings hit by ‘significant slowdown’ in ad sales

Written on Wednesday, 29 April 2020 07:39
Google parent Alphabet has reported a slowdown in first-quarter revenue growth, as the Covid-19 pandemic led to a drop in advertising on the search engine from March. Revenues rose 13 percent year-on-year to USD 41.2 billion, down from 17 percent annual growth a year earlier and in Q4. The US giant exceeded dim earnings expectations, showing higher revenue and profits despite a coronavirus-induced slowdown in its core advertising operations. Alphabet shares leapt more than eight percent in after-hours trades following…

Iridium announces first quarter results; lowers 2020 outlook

Written on Wednesday, 29 April 2020 05:43
Iridium Communications reported financial results for the first quarter of 2020 and updated its full-year 2020 outlook. Net loss was $31.7 million, or $0.24 per diluted share, for the first quarter of 2020, as compared to net loss of $18.0 million, or $0.18 per diluted share, for the first quarter of 2019. This increase in net loss was primarily the result of debt extinguishment costs associated with Iridium’s refinancing of its senior unsecured notes. Operational EBITDA for the first quarter…

Twitter warns of Covid-19 impact on Q1 results

Written on Tuesday, 24 March 2020 08:58
Twitter has announced it expects operating loss in the first-quarter, and quarterly revenue to be down on a year-over-year basis, as a result of the impact of the coronavirus pandemic. "Twitter had a strong start to the year before the effects of COVID-19 began spreading more broadly...... it has impacted Twitter's advertising revenue globally more significantly in the last few weeks," said Ned Segal, Twitter's Chief Financial Officer. Despite this, the crisis has significantly expanded its average daily user base…
Google’s parent company, Alphabet, reported its fourth-quarter and full-year financial results. The company’s revenue grew from $39.3 billion in 2018 to $46.1 billion in 2019. The firm’s net income also expanded from $8.9 billion to $10.7 billion over the same time frame. However, the figures, when compared to expectation, were mixed. Alphabet missed revenue expectations in the fourth quarter despite stellar growth at YouTube and in the cloud, earnings figures showed. Detailing its cloud computing and YouTube revenues for the…

Apple, Broadcom trialed for patent infringement

Written on Thursday, 30 January 2020 07:53
A Los Angeles jury ordered Apple and Broadcom to pay $1.1 billion to a university in California for infringing on four Wi-Fi technology patents. Apple was ordered to pay $837 million and Broadcom must pay $270 million to the California Institute of Technology, in what is thought to be one of the largest patent verdicts ever. Caltech University had sued both tech giants in 2016, alleging that Apple products including iPhones, iPads and Apple Watches used Broadcom components that infringed…

Apple exceeds expectations with record quarterly revenue

Written on Wednesday, 29 January 2020 10:42
Apple has delivered record results for the final three months of last year, delivering gains in sales of iPhones even as the company transitions to digital services and wearables. Net profit hit an all-time high of $22 billion on record quarterly revenue of $91.8 billion, the California tech giant said of the results which were far stronger than most analyst estimates. Previously, Apple told investors that it expected revenue of “between $85.5 billion and $89.5 billion” in the quarter, along…
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