SAN FRANCISCO, July 27 (APP/AFP) – Facebook on Wednesday reported that its quarterly profit leapt 71 percent from a year ago to $3.9 billion as it dished out money-making ads to its more than two billion users. Revenue in the recently-ended quarter climbed 45 percent to $9.3 billion, Facebook said in a stronger-than-expected earnings report […]
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Facebook profit jumps as user ranks grow
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Hong Kong stocks build on gains after Wall St rally
HONG KONG, July 27, (APP/AFP) – Hong Kong stocks extended their rally Thursday following new records on Wall Street, with expectations for another US interest rate hike this year dented by a tepid Federal Reserve inflation outlook. The Hang Seng Index rose 0.23 percent, or 61.68 points, to 27,002.70 — its highest since June 2015. […]
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Samsung Electronics reports 88.9 percent jump in Q2 net profit
SEOUL, July 27, (APP/AFP) – Samsung Electronics on Thursday reported an 88.9 percent jump in its second quarter net profit, boosted by demand for its memory chips and a rise in smartphone sales as the firm seeks to move on from last year’s recall debacle. Net profit for the April to June period rose to […]
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No-show inflation poses conundrum for US Fed
WASHINGTON, July 23, (APP/AFP): After tightening monetary policy last month for the second time this year, the US central bank is expected to pause for the next few months to monitor developments. The Federal Reserve will leave the benchmark interest rate untouched when it meets Tuesday and Wednesday, partly because it has yet to begin […]
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Microsoft profit rises on shift to cloud computing
SAN FRANCISCO, July 21 (APP/AFP) – Microsoft on Thursday reported that its quarterly profit climbed to $6.5 billion, lifted by its shift to computing services hosted in the internet cloud. The US technology giant said revenue in the recently ended quarter rose to $23.3 billion, with $7.4 billion of that due to its “intelligent cloud” […]
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Asia, Europe track Wall St records, dollar under pressure
HONG KONG, July 20, (APP/AFP) – Asian and European markets extended their latest rally on Thursday following across-the-board records on Wall Street where traders were buoyed by another day of strong earnings. Better-than-forecast results from New York titans IBM and American Express helped to fuel a buying spree and allowed investors to look past the […]