Chipmaker, third most valuable company in world, records $30.04bn in revenue, showing AI demand continues to rise Chipmaker Nvidia reported its latest financial results on Wednesday, recording $30.04bn in revenue over the past three months – a 122% jump from the year prior – and showing that artificial intelligence investment mania shows no signs of cooling. Analysts had anticipated about $28.7bn in revenue. Shares slid more than 3% in after-hours trading. Continue reading...

Tech giant’s revenue rises 4.9% to $85.78bn despite phone sales falling 0.9% and trend of decline in key China market Apple reported better-than-expected earnings in the third quarter of 2024, with buzz about its new AI features offsetting a continuing decline in its key China market. Earnings exceeded analyst predictions despite a year-over-year decline in iPhone sales, with revenue rising 4.9% to $85.78bn in the three months ending 29 June, beating the average analyst estimate of $84.53bn. The company maintained its cash dividend at 25 cents for each share. Continue reading...

Firm reported a loss in its second quarter and said it would cut 15% of its workforce to cut costs and compete with rivals Intel, the chipmaker, has announced plans to cut more than 15,000 jobs as it tries to cut billions of dollars in costs and turn its business around to compete with more successful rivals. Shares in the company sank 19% as a string of leading technology stocks came under pressure on Thursday following a fresh batch of lackluster earnings that contributed to a sell-off on Wall Street. Continue reading...

Firm’s earnings were up 15% year-on-year, but Azure’s lower returns resulted in share prices falling by as much as 7% Microsoft outperformed analyst predictions in its latest quarterly earnings report, revealing on Tuesday that its revenue was up 15% year-over-year. But growth of the company’s closely watched Azure cloud computing services failed to meet expectations and shares in Microsoft fell as much as 7% in after-hours trading. The company was expected to report steady growth in its fourth quarter earnings report, mostly on the back of its cloud services. Revenue from those services grew 29%, lower than the 30% to 31% that analysts predicted, resulting in a sell-off that exacerbates big tech’s recent market woes. Continue reading...

Electric automaker’s quarterly deliveries fell for two straight quarters for the first time ever Tesla’s global sales fell for the second straight quarter despite price cuts and low-interest financing offers, another sign of weakening demand for the company’s products and electric vehicles overall. The Austin, Texas, company said on Tuesday that it sold 443,956 vehicles from April through June, down 4.8% from 466,140 sold the same period a year ago. The sales were better than the 436,000 figure that analysts had expected. Continue reading...