Samsung Electronics posted financial results for Q2 2017. The company’s components businesses and sales of the S8 and S8+ contributed to strong results. Samsung’s revenue for the quarter was KRW 61 trillion (approximately US$ 54.2 million), an increase of KRW 10.06 trillion YoY (year on year), while operating for the quarter posted a record KRW 14.07 trillion, an increase of KRW 5.92 trillion year on year. Samsung’s components businesses drove significant earnings in Q2, both year on year and quarter…

Etisalat Group posts Q2 declines; UAE branch shows strength

Written on Thursday, 03 August 2017 08:11
UAE’s Etisalat Group, which operates and owns subsidiaries in the Middle East, Africa and Asia, posted its Q2 financial results for 2017. The Group’s consolidated revenues amounted to AED 25.3 billion, according to the statement. The Group’s consolidated operating profit before Federal Royalty dropped about 11 percent to AED 8.8 billion, and its global subscriber base also dropped around 15 percent, according to analyst calculations. The UAE remains a strongpoint for the operator, where both its revenues and subscriber base…
Saudi Arabia’s STC shared its Q2 2017 financial results showing a 7.9 percent net income increase compared to the same period last year to reach SR 2.4 billion (US$640 million). STC Group CEO Dr. Khaled H. Biyari said the results reflect the company’s move to embrace digital transformation and Saudi Vision 2030. “The financial results achieved for the 1st half of 2017 reflects the efforts being made to constantly evolve, improve and develop the company’s strategy and operations and achieve…
Social networking colossus Facebook has seen its shares soar to a record high after it disclosed the financial results of its second quarter, which revealed that its mobile advertising business has grown by a staggering 50%. The results reaffirm the view that Facebook is now the venue of choice for an ever-increasing amount of online advertisers. Facebook owns four of the most popular mobile services in the world, and it has seen it shares rise by more than 4% to…
Alphabet Inc., the parent company of Google and YouTube, posted its financial results on July 24 for the quarter ended June 30, 2017. The tech giant reported a 21 percent jump in quarterly revenue, maintaining a strong growth rate despite a massive anti-trust fine from the European Union. The company said it made $3.5 billion in net income on sales of $26 billion. Alphabet’s profit would have been even larger if not for the record $2.7 billion EU fine. Alphabet…
Emirates Integrated Telecommunications Company PJSC (“du”) published its financial results on July 25 for the quarter ended 30 June 2017, and announced its plans to distribute AED 589.3 million of interim dividends to its shareholders for the first half of 2017 at 13 fils per share, subject to approval at the General Meeting in September 2017. In its published financial results for the second quarter of 2017, the company delivered AED 3.26 billion in Revenue, up 6.2% from AED 3.07…

Qualcomm reports $5.4 billion in quarterly revenues

Written on Wednesday, 26 July 2017 08:30
Qualcomm reported revenues of $5.4 billion for the three months to 25 June in 2017 and highlighted better than expected results in its semiconductor business. Due to Apple’s ongoing licensing dispute with Qualcomm, the company’s revenue was down 11 percent year on year, but CEO Steve Mollenkopf remains positive. Mollenkopf said the company “retained the high ground” and said the long-term outlook for the licensing segment of its business “remained strong”. The company did, however, offer a warning in its…
Kaspersky Lab researchers have detected new malware designed to steal the credentials of online banking customers. Earlier versions of the new malware, called NukeBot, were known to the security industry as TinyNuke, but lacked the features necessary to launch attacks. The latest versions however, are fully operable, and contain code to target the users of specific banks. Although the appearance of a malware family in the wild is not unusual, the fact that criminals have a ready-to-attack version of the…
Norway’s state-owned international telecom firm Telenor Group delivered a strong set of results for the second quarter of 2017 with improved revenue growth, double-digit EBITDA uplift and strong cash flow generation. Both the EBITDA and the EBITDA margin are all-time high this quarter for the company. “We were able to reduce our costs by NOK 0.6 billion (US$73.3 million) and we saw margin expansion in all our business units,” said Sigve Brekke, President and CEO, Telenor Group. “The robustness of…
US technology colossus and global search engine giant Google has avoided paying a whopping €1.1 billion tax bill in France after a Parisian court ruled in its favour. The court’s decision was a welcome reprieve for the Californian based entity, as the ruling comes just weeks after Google was fined by the European Commission (EC). Google’s legal row in relation to this tax bill has dragged on for six years, but a Parisian administrative tribunal ruled that Google was not…
US technology leaders Microsoft has shocked its workforce by announcing that it plans to cuts ‘thousands’ of jobs as part of company reorganization strategy. However, it’s been reported from a source close to Microsoft that most of the reductions will be made outside of the US, and will target staff in its sales and marketing departments. Some analysts are claiming that the restructuring of the organization is being driven by the fact Microsoft aims to double down on its fast-growing…
Qualcomm CEO, Steve Mollenkopf has claimed that 5G will represent a revenue opportunity of around $12 trillion by 2035. Mollenkopf made the statement when he was delivering his keynote address at Mobile World Congress Shanghai. However, the CEO of the global chip giant did express his belief that we have to utilize 4G technology. He said it was imperative we made the most of 4G and focused particularly on new gigabit LTE networks.
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