With demand falling across the board, Starbucks reported a fall in same-store sales for the first time in nearly three years, sending its shares down 8% in extended trading. "In a highly challenged environment, this quarter's results do not reflect the power of our brand," CEO Laxman Narasimhan said. Demand in the United States decelerated for a second straight quarter as boycott movements impacted traffic at its stores, while a choppy macro environment weighed on demand for its pricier...
South Korea-based SK Hynix returned to profit in the opening quarter of 2024 after a string of quarterly losses, highlighting the memory market is entering into a full recovery cycle driven by demand for AI server products.
Samsung is the latest company to profit from AI demand, as its profits have increased more than fourfold compared to a year earlier.
Netflix's financial report highlights that 9.33 million subscribers have joined the streaming service. Today, Netflix reported its first-quarter earnings report, and there is a lot for the content giant to
US weapons maker Lockheed Martin on Tuesday reported a near 14% rise in Q1 sales, as simmering geopolitical tensions fuel demand for new weapons.
Thuraya has already certified the solution over its network, noting that it is also certified by the Federal Information Processing Standard authority in the USA.
Consumer group Which? has found that Virgin Media was the worst offending telecoms company in terms of customer service.
Verizon Communications Inc. beat analysts’ estimates for profit while boosting wireless service revenue, even as it lost more retail phone customers than expected.
Samsung Electronics reported a strong Q1 2024 financial performance. Memory chip sales rebounded, driving operating profit by over 930%, driven by demand for AI-specific servers, memory chips, and storage solutions.
LG Electronics' TV business has returned to profitability in the first quarter from the recovery of demand in Europe and the rising popularity of streaming services.For the entire quarter running from January to March, the South Korean electronic maker recorded 21 trillion won in revenue and 1.33 trillion won in operating profit.The revenue figure is the highest to date for the first quarter while operating profit dropped slightly from a year earlier it comes amid a global economic slowdown, LG...
Social media giant Meta reported a surge in profit with the Facebook and Instagram parent seeing its first-quarter profit more than double, boosted by higher advertising revenue and a 6% increase in the average price of ads on its platforms, to touch $12.37 billion from $5.71 billion during the same period last year.Revenue, too, rose 27% to $36.46 billion from $28.65 billion. However, despite beating analyst estimates the stock slumped over 15% in extended trade after the company forecasted...
Verizon has also partnered with streaming services to attract customers. Starting last Thursday, its latest promotional bundle includes six months of free access to Disney's services for new and existing customers on some plans. In December, it began offering discounted subscriptions to Netflix and Max on some myPlan bundles.