Technology news & headlines
Latest breaking stories, features and analysis
- Alphabet reports £35.69 billion of revenue and £12.68 of earnings per share in Q3.
- The tech giant says total advertising revenue jumped to £28.68 billion in the third quarter.
- Google’s parent company valued its revenue from its "Other Bets" at £137.59 million.
Features & analysis
Latest Technology news
Facebook Inc. (NASDAQ: FB) published a better than expected earnings report for the fiscal third quarter on Thursday. The company, however, said that the number of its users in Canada and the United States decreased in the recent quarter. Facebooked initially tanked 2.5% in extended trading on Thursday but regained the loss later on. Shares of the company now have a per-share price of £217.75 that represents a close to 90% gain in the stoc...
Twitter Inc. (NYSE: TWTR) said on Thursday that its earnings and revenue in the fiscal third quarter came in better than expected. User growth, however, was weaker than analysts’ expectations for Q3. Twitter’s financial results come only a day after its Chief Executive Jack Dorsey testified in front of the Senate Commerce Committee. Shares of the company tanked a little under 15% in after-hours trading on Thursday. Including the price action, Twi...
Shopify Inc. (NYSE: SHOP) published its financial results for the fiscal third quarter on Thursday that blew past Wall Street estimates on the back of the Coronavirus driven boost to e-commerce. Shares of the company jumped close to 3% in premarket trading on Thursday but tanked more than 6% on market open. Shopify is now trading at £762 per share after recovering from a year to date low of £303 per share in March. The Canadian company had...
Comcast Corp. (NASDAQ: CMCSA) said on Thursday that its revenue from all three business segments came in higher than expected in the fiscal third quarter. The American telecommunications conglomerate had also topped Wall Street estimates in the prior quarter (Q2). Cable communications and high-speed internet, Comcast said, added 556 thousand and 633 thousand new customers in the third quarter, respectively. Total video subscribers, on the other h...
Twilio Inc. (NYSE: TWLO) said on Monday that its revenue in the fiscal third quarter came in stronger than Wall Street expectations. The company attributed higher revenue in Q3 to the Coronavirus pandemic that made businesses resort to work from home arrangements and resulted in increased demand. COVID-19 has so far infected more than 8.9 million people in the United States and caused over 230 thousand deaths. In an earlier announcement in Octobe...
Ant Group said on Monday that its dual IPO (initial public offering) will raise a total of £26.44 billion. The company announced the per-share price for 1.67 billion new shares each to be issued simultaneously in Hong Kong and Shanghai. Ant Group’s dual IPO will be the largest listing in history. Ant Group said that its shares in Shanghai will be priced at £7.86 each. Issuing 1.67 billion shares, the world’s largest financial technology company w...
SAP SE (ETR: SAP) said on late on Sunday that its sales and profit in the quarter that concluded on 30th September came in lower than expected. The company attributed the decline to the ongoing Coronavirus pandemic that weighed on demand in recent months. Shares of the company opened close to 20% down in the stock market on Monday. On a year to date basis, SAP SE is now more than 15% down. It is now trading at £92.51 per share versus a low of £82...
Shares of Intel Corporation (NASDAQ: INTC) fell more than 10% on Friday after the tech giant’s third quarter report showed a 7% revenue decline in its data center business and management said its new 7-nanometer processors will be delayed by six months. Should investors buy Intel’s stock after recent weakness or is there more downside ahead? These two pros offered both sides of the argument. Fund manager: No reason to sell Jenny Harrington is the...
Intel Corp. (NASDAQ: INTC) said on Thursday that its data-centre sales in the fiscal third quarter came in lower than expected. In an announcement earlier this week, Intel said it will offload its SSD business for £6.88 billion but will keep Optane. Shares of the company tanked a little under 10% in extended trading on Thursday. Intel is now exchanging hands at £37.33 per share versus £46.49 per share at the start of the year. The stock had tumbl...
AT&T Inc. (NYSE: T) said on Thursday that its revenue in the fiscal third quarter contracted less than expected. Adjusted profit, it added, came in line with what analysts had anticipated for Q3. AT&T is offering iPhone 12 for free when paired with unlimited 5G plan. AT&T was reported about 4% up in premarket trading on Thursday and jumped another 2% on market open. On a year to date basis, shares of the company are now 25% down in th...
Verizon Communications Inc. (NYSE: VZ) said on Wednesday that the pandemic had minimal impact on its wireless churn rates in recent months, as it reported earnings that topped estimates for the fiscal third quarter. Shares of the company were reported 0.3% up in premarket trading on Wednesday. On a year to date basis, Verizon Communications is now roughly 4% down in the stock market, but have recovered 15% since late March. Interested in investin...
Netflix Inc. (NASDAQ: NFLX) said on Tuesday that new subscribers in the fiscal third quarter were significantly less than expected as it reported earnings that missed expectations. Analyst Heath Terry of Goldman Sachs had raised his price target on Netflix stock last week. Shares of the company slid close to 6% in extended trading on Tuesday. At £380 per share, Netflix is now more than 50% down year to date in the stock market. In comparison, it...
Snap Inc. (NYSE: SNAP) published its financial results on Tuesday that blew past Wall Street estimates for the fiscal third quarter. The company said its daily active users (DAUs) jumped to 249 million in Q3, versus 238 million in the prior quarter. FactSet Consensus for the quarter over quarter increase in DAUs stood at a much lower 5 million. Shares of the company jumped close to 25% in after-hours trading on Tuesday. Including the price action...
Cadence Design Systems Inc. (NASDAQ: CDNS) published its earnings report for the fiscal third quarter on Monday that highlighted its sales and profit to have jumped on the back of IP sales activity and hardware that was greatly in demand in China. The company also expressed confidence that its system design and analysis segment was likely to see growth in the fiscal second half. Shares of the company jumped more than 3.5% initially in extended tr...
International Business Machines Corp. (NYSE: IBM) said on Monday that its revenue fell further in the fiscal third quarter. The company also refrained from giving future guidance due to the COVID-19 uncertainty. IBM is currently in the process of spinning off its IT infrastructure services business – a move that as per CFO James Kavanaugh will result in £1.78 billion of charges in the fiscal fourth quarter. IBM slid close to 2.5% in extend...
Credit Suisse, the Swiss investment banking company, believes that technology stocks remain the best investing option but has advised customers to invest in tech with greater caution. Fundamental analysis: Moderately expensive sector The bank is concerned with the ‘dot-com-era bubble’ taking shape in the market due to increased congestion in leading tech stocks. A downfall of these mega-cap stocks in early September eased concerns about ove...
In an announcement on Monday, Twilio Inc. (NYSE: TWLO) said it will acquire Segment (customer data infrastructure company) for £2.46 billion in Twilio Class A common stock. The transaction is likely to be completed before the start of 2021. CEO Jeff Lawson of Twilio commented on the news on Monday and said: “Data silos destroy greater customer experiences. Segment lets developers and companies break down those silos and build a complete picture o...