Google profit up 19 Pct, beats expectations
Google Inc.'s second-quarter earnings were up 19 percent, but revenue slowed as advertising sales were down from the previous quarter. The search engine giant posted a profit of $1.48 billion, or $4.66 a share, compared with $1.25 billion, or $3.92 a share, in the same quarter last year. Read Full Article here.
IBM raises full-year outlook despite lower revenue
IBM reported a 13 percent fall in revenue amid a decline in corporate spending, but cost cuts and a shift to more profitable businesses helped it achieve higher-than-expected earnings, and the company raised its outlook for the full year. Read Full Article here.
Nokia cuts profit, market share outlook
The world's top cellphone maker Nokia cut on Thursday its forecast for second half profitability and 2009 market share at its key phone unit, sending its shares sharply lower. Nokia said its second-half underlying operating profit margin at its key phone unit would be at the first-half level of 11.3 percent. It had earlier forecast a second-half margin of 13-19 percent. Read Full Article Here.
Sony Ericsson loses market share, posts pre-tax loss in 2Q
Mobile phone maker Sony Ericsson braced for a tough second half of 2009 after losing market share in the second quarter as its mid-range products found little favor among a declining customer base. The handset industry this year faces its worst downturn on record and Sony Ericsson expects the global market to shrink at least 10 percent. Read Full Article Here.
RIM settles patent suit by paying $267.5 million
BlackBerry maker Research In Motion Ltd. agreed to pay $267.5 million to Visto Corp. to end a long-running patent dispute. The settlement is expected to be completed next week.