Tencent, the Chinese tech giant, managed to surpass analyst estimates for revenue and profit in the first quarter. The company’s core gaming business saw slightly better sales, while its advertising and business services division showed improved profitability. Tencent’s revenue reached 159.5 billion Chinese yuan, exceeding the expected 158.4 billion yuan. Profit attributable to equity holders
Earnings
SoftBank, the Japanese conglomerate, reported a significant gain of 724.3 billion Japanese yen ($4.6 billion) on its Vision Fund in the fiscal year that ended in March. This marked the first time since 2021 that the flagship tech investment arm was in the black, with the Vision Fund segment posting a profit of 128.2 billion
Semiconductor Manufacturing International Corporation (SMIC) recently issued a warning regarding the intense competition in the chip industry, highlighting the challenges faced by the company. The market trends dictate the pricing for commodity products, making it difficult for SMIC to meet its profit expectations. As China’s biggest contract chip manufacturer, SMIC plays a crucial role in
On Thursday, Warner Bros. Discovery reported its first-quarter results, which fell short of analyst expectations in both top and bottom line performance. Despite the strong showing in its streaming unit, the company’s stock managed to gain 3% on Thursday. The company faced challenges with a loss per share of 40 cents, compared to the 24
British chip designer Arm experienced a more than 2% decline in its stock price on Thursday, following lackluster revenue guidance that overshadowed a positive sales quarter driven by the growing demand for artificial intelligence applications. While Arm reported a significant 47% year-over-year increase in fiscal fourth-quarter revenue, reaching $928 million, investors were less than impressed
Siemens Energy experienced a significant surge in its shares, reportedly up to 13%, following the announcement of raised forecasts for the year and the departure of the CEO of its wind turbine unit. Jochen Eickholt will be stepping down from his position as CEO of Siemens Gamesa by mutual agreement on July 31, to be
Nintendo has recently hinted at a big announcement in the upcoming fiscal year – the successor to its popular Switch console. The news comes after the company reported a decline in profit due to slowing sales of the aging Switch. The new console is expected to be announced by March 2025, as confirmed by Nintendo
On Monday, U.S. stocks experienced a positive trend, building upon the gains from the previous session. The S&P 500, Dow, and Nasdaq all saw increases of over 1% following a softer-than-expected jobs report. Investors were optimistic about the Federal Reserve’s monetary tightening efforts, which seemed to be steering the U.S. economy towards potential interest rate
Berkshire Hathaway, led by Warren Buffett, reported a significant increase in operating earnings in the first quarter of the year. The conglomerate’s operating profit, which includes earnings from wholly owned businesses, saw a substantial 39% jump to $11.22 billion compared to the same period last year. This impressive growth was primarily driven by a remarkable
Coinbase, a leading platform for trading digital assets, has exceeded analysts’ expectations in its first-quarter earnings report. The company reported earnings of $4.40 per share, significantly higher than the average analyst estimate of $1.09. This marks a substantial improvement from a year ago when the company faced a loss of $78.9 million, or 34 cents