Nidec posts unexpected quarterly loss, hit by restructuring costs
TOKYO (Reuters) -Japanese electric motor maker Nidec on Tuesday posted an operating loss for the January to March quarter, hit by the costs of restructuring steps taken to deal with fierce price competition in China's electric vehicle market.
Earnings call: SAP sees record cloud growth in Q1 2024
SAP SE (ETR:SAPG) (SAP) reported a robust start to 2024, with its first-quarter earnings showcasing a significant surge in cloud revenue and backlog, alongside a healthy increase in operating profit. The company's cloud revenue climbed by 25% to EUR 3.9 billion, while the current cloud backlog expanded by 28% to a record EUR 14.2 billion. Operating profit rose by 19% to EUR 1.5 billion, reflecting strong performance across various regions and a strategic focus on cloud and AI-driven growth.
Earnings call: Cadence's Q1 2024 results beat guidance, raises outlook
Cadence Design Systems, Inc. (NASDAQ:CDNS) reported a robust first quarter in 2024, surpassing its own financial guidance with a total revenue of $1.009 billion. The company's strong performance is backed by significant design activity in key technology areas and a record backlog that positions it well for the future.
Microsoft introduces smaller AI model
(Reuters) – Microsoft (NASDAQ:MSFT) on Tuesday announced a cost-effective, small language artificial intelligence model that can perform tasks such as content creation and create social media posts while using smaller amounts of data.
Apple’s iPhone sales plummeted 19% in March quarter, per Counterpoint data
According to Counterpoint Research, Apple’s (AAPL) iPhone sales in China plummeted by 19% during the March quarter, marking the device's poorest performance in the region since the onset of Covid around 2020.
Novartis hikes full-year guidance as Q1 results exceed estimates, shares pop
Novartis (SIX:NOVN) (NVSEF) shares surged 4.7% in European trading Tuesday after the Swiss pharmaceutical company's release of impressive first-quarter results.
US sues to block merger of Coach and Michael Kors handbag makers
By Abigail Summerville, Granth Vanaik and Jasper Ward
Inflation relief has likely been delayed not destroyed – GS
Strategists at Goldman Sachs have recently pointed to two potential shifts in the risk landscape: the broadening of global growth and a reduction in inflation fears.