Journalism of Courage
Facebook has announced another stellar set of quarter numbers. The social networking platform's quarterly revenue rose more than 50 percent. Facebook now has more than 1.65 Billion active users and was successfully able to ship its Oculus Rift VR headset. Facebook plans to create new class of non-voting shares to keep Zuckerberg at helm. Zuckerberg said users were spending more than 50 minutes per day on Facebook, Instagram and Messenger. The company is stressing on the Live Video platform. Read more here (Source: AP)
Samsung was the only hardware company to reveal profits this quarter. Samsung's profits rose primarily due to better than expected sales of 2016 flagships Galaxy S7 and S7 edge smartphones. Samsung reported a 12 percent earnings gain in January-March quarter. The mobile division was the South Korean firm’s biggest earner for the first time since the second quarter of 2014. Read more here (Source: Reuters)
Apple had a rather disappointing quarter this time around. The company's revenues saw decline for the first time in almost a decade. Apple posted quarterly revenue of $50.6 billion and quarterly net income of $10.5 billion, compared to $58 billion and $13.6 billion in the year-ago quarter. While iPhone and iPad sales declined, services division was the only ray of hope. Read more here (Source: AP)
Google's parent Alphabet had a bad quarter this time around. The company's result were hit by rising traffic costs and strong dollar. Alphabet’s consolidated revenue rose to $20.26 billion from $17.26 billion, slightly below the $20.37 billion analyst consensus. Alphabet CFO Porat said foreign exchange rates factored heavily into the results, shaving $762 million from its revenue for the quarter. Read more here (Source: AP)
LG, like its Korean counterpart managed to report profits this quarter. The company reported a stunning jump in its first-quarter earnings as its high-end home appliance sales offset a loss for its smartphone business. But like before, LG had a lacklustre sales in the smartphone segment this time around too. LG's operating profit jumped 66 percent to 505 billion won ($443 million) even as sales declined 5 percent to 13.4 trillion won ($11.8 billion). Read more here (Source: Reuters)
