(Reuters) – Intel Corp on Thursday reported that margins tumbled in the latest quarter as consumers bought cheaper laptops and pandemic-stricken businesses and governments clamped down on data center spending, news that sent its shares down 10%.
Intel, the dominant provider of processor chips for PCs and data centers, has struggled with manufacturing delays. In July, it said its next generation of chipmaking technology was six months behind schedule.
Chip sales are booming, but customers want lower-priced chips rather than Intel’s pricier high-performance offerings, dragging down overall gross margins.
The pandemic has given Intel a boost in the form or surging laptop sales as employees and students work and learn from home. Sales in its PC group were $9.8 billion, beating analyst estimates $9.09 billion, according to FactSet.
But Intel sold a higher volume of less-profitable chips in its PC business, driving operating margins down to 36%
Apple University dean and vice president Joel Podolny today wrote an in-depth article on Apple’s organizational structure for Harvard Business Review.
Titled “How Apple is Organized for Innovation,” Podolny’s piece delves deep into Apple’s structure and how that has helped it grow over the years. Starting back when Jobs took over the company when he returned to Apple 1997, Podolny explains how Jobs fired the managers of each individual business unit and converted Apple into “one functional organization,” a setup that Apple continues to have to this day.
As was the case with Jobs before him, CEO Tim Cook occupies the only position on the organizational chart where the design, engineering, operations, marketing, and retail of any of Apple’s main products meet. In effect, besides the CEO, the company operates with no conventional general managers: people who control an entire process from product development through sales and are judged according
Tesla Inc. (TSLA) – Get Report shares bumped higher Thursday after the clean-energy carmaker stuck to its full-year delivery forecast, and hinted at even stronger numbers in 2021, following stronger-than-expected third quarter earnings after the close of trading yesterday.
Tesla said non-GAAP earnings for the three months ending in September were pegged at 76 cents per share, more than double last year’s tally and well ahead of the Street consensus forecast of 37 cents per share. Group revenues surged 38% to $8.771 billion, Tesla said, as delivery volumes for the quarter hit a record 139,300 units.
That pace, Tesla said, should increase even further over the final months of the year as the group held to its 2020 forecast of 500,000 deliveries, a figure that suggests the fourth quarter total would need to rise past 180,000.
Founder and CEO Elon Musk also told one analyst on the earnings
Shares of consumer video service Netflix are down sharply after the bell today, following the company’s Q3 earnings report.
Why is Netflix suddenly worth about 5% less than before? A mixed earnings report, a disappointing new paying customer number, and slightly slack guidance appear to be the answer.
Heading into the third quarter, Netflix told investors that they should expect it to generate revenues of $6.33 billion, operating income of $1.25 billion, and net income of around $954 million, worth about $2.09 in earnings per share.
Today, Netflix reported $6.44 billion in revenue, operating income of $1.32 billion, along with $1.74 in per-share profit off of net income of $790 million.
Netflix bested its revenue goals, but fell short on profitability.
The company also managed to best analyst revenue expectations of $6.38 billion, while missing out on analyst per-share profit expectations of $2.13.
Park Seo Joon has graced the cover of ELLE’s November issue!
This is his first photo shoot after becoming a Chanel Beauty ambassador and he managed to take on the given concepts flawlessly. The pictorial focused on capturing the actor’s strong yet delicate features.
The interview following the photo shoot focused on how Park Seo Joon is doing after starting filming for the movie “Dream.” When asked about how he has become a representative “healthy young adult” due to his past works, especially “Itaewon Class,” he said, “Each moment that I am given to live is important. I think I’m still living out my youth because I have a dream for myself, and I have a lot coming up in the future.”
When asked about his best attribute, he replied, “Questions like these are the hardest to answer. I’m a person that wants to keep my acting as well as
It’s no secret that companies involved in cloud computing, virtual direct-to-consumer sales, artificial intelligence (AI), and augmented reality (AR) are onto something big. Two exciting stocks come to mind when we start on the topic. Ontrak (NASDAQ:OTRK) stock is up 327% from a year ago, and yet the company is still pretty small, with a market cap of a little over $1 billion. The company competes with Livongo in the virtual healthcare space, helping people manage mental health issues and chronic physical conditions.
Unity Software(NYSE:U) IPO’d in September, an event which was overshadowed by the big Snowflake splash. Unity is already a very large company with a market cap of almost $23 billion. In my hunt for 10-baggers, I usually look to smaller companies to deliver. Unity, however, has a vast market opportunity ahead. Unity’s software is one of the two major platforms upon which video games are built
SEOUL (Reuters) – Shares in Big Hit Entertainment defied the pre-listing hype to dip on their first day of trade on Thursday, giving the management label of South Korean superstar K-pop group BTS a market valuation of 8.7 trillion won ($7.61 billion).
Big Hit, which relies heavily on the boy band for revenue, doubled its initial public offering price to debut at 270,000 won per share, for a 9.6 trillion won valuation. Shares surged by as much as 30% in early trade before dropping back.
Analysts said the closing share price of 258,000 won, still around 90% above the IPO price, should be viewed as a more reasonable price based on fundamentals, rather than a sign of listing failure.
“The closing price is already around analysts’ average target price for 2022, based on estimations of profit increases,” said eBest Investment & Securities analyst Jina An.
President TrumpDonald John TrumpFeds investigating if alleged Hunter Biden emails connected to foreign intelligence operation: report Six takeaways from Trump and Biden’s dueling town halls Biden draws sharp contrast with Trump in low-key town hall MORE on Friday tweeted out a fake story Friday from a satirical website attacking Twitter, with commentary suggesting he was not aware the piece was satire.
The president shared a link from The Babylon Bee, a conservative satire website, that mockingly wrote a story that Twitter had crashed on Thursday to slow the spread of negative news stories about Democratic nominee Joe BidenJoe BidenFeds investigating if alleged Hunter Biden emails connected to foreign intelligence operation: report Six takeaways from Trump and Biden’s dueling town halls Biden draws sharp contrast with Trump in low-key town hall MORE.
“Wow, this has never been done in history. This includes his really bad interview last night.