Singtel delivered a resilient third quarter performance with a strong core business and higher contributions from regional mobile associates. In the core business, ICT revenues grew, bolstered by contract wins by NCS and demand for cyber security services. Higher consumer home services revenue in Singapore and growth in postpaid mobile customer numbers in Australia helped mitigate continued voice to data substitution and roaming revenue declines. Among the associates, strong performance from Telkomsel offset the impact of very intense competition in …
Twitter recently reported a net loss in the fourth quarter of 2016 of $167 million, after a $90 million deficit in the corresponding period a year ago. The company's shares dropped more than 12 percent to close at $16.41 as investor hopes faded for a revival of the micro-blogging platform, which has been lagging behind its social media rivals. Revenue in Q4 2016 rose one percent for Twitter to $717 million. The crucial area of user growth saw Twitter end…
Yahoo Japan Corp., formed as a joint venture between the American internet company Yahoo! and the Japanese company SoftBank, saw its latest quarterly earnings jump the most since 2013. The company attributed the earnings to growth in advertising and online shopping via smartphones. Yahoo Japan shares surged as much as 17 percent in Tokyo and hit their daily upper price limit, according to Yahoo Finance. The shares were “15 percent higher as of 10:35 a.m. – adding about $3.4 billion…
Seattle-based e-commerce giant Amazon says it will invest nearly $1.5 billion to build its first air freight hub in the United States, which it hopes will strengthen its distribution muscle and also create more US jobs. Amazon has been eager to decrease its reliance upon shipping companies such as UPS and FedEx. The air freight hub for Amazon’s growing Prime Air cargo fleet will reportedly be built at an airport in Kentucky, adding more than 2,000 workers to the approximately…
Snap Inc. the parent company of the popular social networking app Snapchat filed public documents for a share offering on February 2, ending speculation that the company would seek an IPO. Snap Inc. reportedly hopes to raise up to $3 billion in its highly anticipated Wall Street debut. California-based Snap Inc. had earlier filed confidential documents for an initial public offering last year. The Wall Street Journal reported in October that Snap Inc. was preparing for a 2017 share offering,…
Finnish telecoms vendor Nokia recently reported its financial earnings for 2016 which showed a net loss of 766 million euros ($826 million). Nokia blames the sales and costs from acquiring and integrating Alcatel-Lucent for the “disappointing” loss in 2016. Nokia chief executive Rajeev Suri described 2016 as a “year of transition”. Nokia’s financial results were “disappointing” according to Suri in a press statement, but he said the company is expected to perform better financially in 2017 “as market conditions improve.”…
Social media giant Facebook reported its financial earnings on February 1, which showed that its profit more than doubled in the final three months of 2016 as revenues continued to rise and its user base grew. The company said it made a net profit of $3.7 billion on revenue of $8.6 billion in the fourth quarter, compared to profit of $1.6 billion on $5.6 billion in revenue in the same period the previous year. Facebook’s earnings pushed past many analyst…
Facebook has been ordered by a US court to pay a whopping $500m to a gaming software company in a lawsuit which claimed virtual reality technology was stolen. In documents shown to the court, Facebook’s virtual reality arm Oculus Rift stood accused of basing its Rift headset products on technology stolen from ZeniMax’s VR software The court heard how it was alleged that Oculus founder Palmer Luckey had developed its Rift headsets courtesy of source code which was illegally obtained…
Apple Inc. reported strong Q4 results on Tuesday, 31 January, ending a streak of previous unfavorable financial reports in 2016. A rebound in iPhone sales saw Apple’s profits lifted to record revenue in the past quarter which has eased concerns of slowing growth for the company. Apple launched its new iPhone 7 model last September which proved to be a strong money-maker for the company, even as profits dipped 2.6 percent to $17.9 billion. Apple’s revenue reached an all-time record…
The combination of cloud computing and the shrewd acquisition of LinkedIn by Microsoft has seen growth in the tech giants profits. In a financial statement Microsoft disclosed that profits rose by 3.6% in the second fiscal quarter to $5.2 billion- while revenues edged up by 1% to $24 billion. Microsoft have changed strategy in recent years, and moved away from its dependence on solely developing software to providing a broader array of services. That positioning has been proved to be…
A Canadian robo-adviser start-up has received a significant investment in a bid to boost its chances of successfully penetrating the already saturated U.S. market. Wealthsimple announced the investment of $20 million from Power Financial Corp and formally launched its operations in the US. The robo-adviser market is dominated by large investments firms, and it was established that in order for the Wealthsimple to become a success, it required a large investment – which was provided by fellow Canadian company Power…
A leading Japanese telecommunications company is believed to be weighing up an investment of more than $1 billion in office-space start-up ‘WeWork’ – according to speculation circulating from the region. The Wall Street Journal has reported that SoftBank Group Corp, which is headquartered in Tokyo, is keen on the investment which would represent the first deal from its $100 billion technology fund. Both organizations declined to comment on the speculation which simply added fuel that negotiations in relation to the…
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