Alibaba, the Chinese e-commerce giant, faced a significant setback in its fiscal fourth quarter as its net profit plunged, causing shares to drop. The company reported revenue of 221.9 billion yuan, falling short of the LSEG consensus estimate of 219.66 billion yuan. Additionally, net income attributable to ordinary shareholders took a major hit, declining by
Earnings
In a surprising turn of events, Tencent managed to surpass analyst expectations for both revenue and profit in the first quarter. The Chinese tech giant reported a revenue of 159.5 billion Chinese yuan ($22 billion), exceeding the 158.4 billion yuan anticipated. Additionally, the profit attributable to equity holders of the company was 41.9 billion yuan,
SoftBank has announced a significant gain on its Vision Fund in the fiscal year ended March, marking a turning point for the flagship tech investment arm. This is the first time the Vision Fund has been in the black since 2021, with a profit of 128.2 billion yen after a substantial loss the year before.
Semiconductor Manufacturing International Corporation (SMIC) recently reported a first-quarter profit that fell short of expectations, highlighting the challenges faced by the company in the chip industry. SMIC acknowledged that the competition in the industry has become increasingly fierce, with pricing for commodity products following market trends. This poses a significant challenge for the company as
Arm, a British chip designer, experienced a slight decline in its stock price by more than 2% due to lackluster revenue guidance. Despite reporting a strong sales quarter driven by the demand for artificial intelligence applications, the company’s future revenue projections failed to meet investors’ expectations. The fourth-quarter revenue of $928 million marked a significant
Warner Bros. Discovery recently announced its first-quarter results, falling short of analyst expectations both in terms of revenue and loss per share. The company’s stock saw a 3% increase following the announcement. Despite having a strong streaming unit, the company reported a 7% decrease in revenue to $9.96 billion, with a net loss of $966
Siemens Energy experienced a significant increase in its shares of up to 13% following the announcement of a change in leadership and an updated forecast for the year. The German renewables firm disclosed that the CEO of its wind turbine unit, Siemens Gamesa, would be stepping down by mutual agreement on July 31. Jochen Eickholt
Nintendo recently announced that they will be releasing a successor to their popular Switch console within the next fiscal year. This move comes as the company faces a predicted decline in profit due to slowing sales of the current Switch model. The decision to unveil a new console shows Nintendo’s commitment to staying relevant in
The CNBC Investing Club with Jim Cramer’s Morning Meeting livestream on Monday covered the performance of the U.S. stock market. It was noted that U.S. stocks rose, building on the gains from the previous session. The S & P 500, Dow, and Nasdaq all saw increases of over 1% each following a softer-than-expected jobs report.
In the first quarter, Berkshire Hathaway reported a staggering 39% increase in operating earnings compared to the previous year. This boost in earnings was primarily driven by a remarkable 185% surge in insurance underwriting earnings, totaling $2.598 billion. Geico, a subsidiary of Berkshire, also saw a significant increase of 174% in earnings to $1.928 billion.