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News on Medial
Alibaba's strong year-end sales help to drive revenue rebound
Economic Times
·
4m ago
Medial
Alibaba reported stronger-than-expected third-quarter revenues, driven by successful year-end sales and effective strategies to attract cost-conscious consumers. The company experienced a boost from international markets and increased spending during China's Singles' Day event, contributing to a 26.6% rise in sales. Alibaba's growth extends into AI and cloud computing, with a 13% revenue increase in its Cloud Intelligence Unit and significant international ecommerce growth. Investor confidence is boosted by strategic business wins and co-founder Jack Ma's public reappearance with President Xi Jinping.
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Samsung says chips to recover in 2024 after best quarterly profit this year
Economic Times
·
1y ago
Medial
Samsung is optimistic about a chip recovery in 2024 after reporting its highest quarterly profit this year. The company expects strong demand for memory chips and a shortage in the industry to help boost its profits in the coming years. Despite facing challenges like supply chain disruptions and a decline in smartphone sales, Samsung's focus on memory chips and other semiconductor products has helped drive its performance.
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Corporate revenue likely to inch up in FY25 after slow March quarter: Crisil
Livemint
·
1y ago
Medial
Indian companies are expected to see a rebound in the new financial year after experiencing their slowest quarterly revenue growth since the pandemic. Research firm Crisil predicts a 9-10% increase in overall revenue in the 2024-25 period, driven by domestic consumption. The fiscal year 2024 saw an 8% increase in corporate revenue, with growth moderating to 4-6% in the final quarter. Sectors less dependent on commodities and focused on the domestic market are expected to drive revenue growth in the coming year, particularly consumer discretionary segments.
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Zoomcar aims to onboard more cars on supply side via third-party tie-ups
Economic Times
·
1y ago
Medial
Zoomcar is boosting incentives for its hosts in a bid to address demand-supply challenges and drive growth in the car-sharing marketplace. The company has partnered with various firms including Acko Drive, Cars24, EaseMyTrip, Sparkcars, and CleverTap to offer benefits such as discounts on car purchases, car financing options, and customer engagement platforms for hosts. Zoomcar aims to increase active vehicle listings on its platform to grow its user base and revenue. The company posted strong profitability in the last quarter and expects its revenue to reach $20 million by year-end.
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How much Snap pays employees in the US
Business Insider
·
1y ago
Medial
Snap, the parent company of Snapchat, is actively hiring in the US following layoffs earlier this year. Despite a lukewarm 2023, with flat annual revenue growth, Snap aims to expand its workforce in key areas including engineering, product, and sales. Analysts predict that a boost in political advertising in 2024 could help drive revenue growth this year. The data obtained from the US Department of Labor's Office of Foreign Labor Certification shows that Snap offered annual salaries ranging from $45,282 to $1.95 million for various roles, with a median salary range of $148,013 to $180,000.
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Apple without AI looks more like Coca-Cola than high-growth tech
Economic Times
·
1y ago
Medial
Apple, once the epitome of stock market success, is now facing challenges as its revenue expansion stagnates and it struggles to keep up with the AI revolution. While the company still generates substantial revenue and maintains a strong balance sheet, investors are concerned about its future growth prospects. With AI becoming the new focus of technology, companies like Nvidia are overtaking Apple in terms of stock performance. Regulatory pressures and declining iPhone sales add to the company's woes. However, some investors still believe in Apple's potential for a rebound, given its financial resources and history of innovation.
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Samsung reports a 10-fold increase in profit as AI drives rebound in memory chip markets
Economic Times
·
1y ago
Medial
Samsung Electronics posted a tenfold increase in operating profit for the last quarter, driven by the growth of artificial intelligence technologies and a rebound in the computer memory chip markets. Operating profit reached 6.6 trillion won ($4.8 billion), up from 640 billion won ($465 million) the previous year. Revenue rose nearly 13% to 71.9 trillion won ($52 billion), fueled by higher memory chip prices and strong sales of the Galaxy S24 smartphones. Samsung also reported its first quarterly profit in the semiconductor business since Q4 2022, with operating profit reaching 1.91 trillion won ($1.38 billion). The company expects the memory chip market to remain robust due to increased demand for both conventional and advanced chips powering AI technologies.
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Apple reports record quarterly revenue in India despite smartphone shipment dip
Economic Times
·
11m ago
Medial
Apple has reported a new quarterly revenue record in India for Q3 2024, continuing its strong growth in the country. Apple CEO, Tim Cook, stated that they have set revenue records in more than two dozen countries, including India. This comes as smartphone shipments in India fell by 2% YoY in the same quarter. Apple also announced a new global revenue record of $85.8 billion for the June quarter, with strong performance in services and Mac computers. Counterpoint Research expects Apple to rebound in the next quarter in India due to recent price cuts.
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Former Meta Executive Mohit Rajani Joins Meesho As Chief Product Officer
Inc42
·
10m ago
Medial
Meesho has hired Mohit Rajani, a former executive from Meta, as its Chief Product Officer. Rajani's experience at tech giants like Meta and Google, where he led product initiatives at Instagram and Messenger, will help drive innovation and expand Meesho's ecommerce customer base. The appointment comes after recent additions to the board and amidst Meesho's strong financial performance, with a 77% revenue growth in FY23 despite some leadership departures.
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Macs give Apple a chunkier India pie
Livemint
·
11m ago
Medial
Apple has set a new revenue record in India for the ninth consecutive quarter, with its iPhones remaining the biggest seller. However, surprising figures also show a new record for sales of the company's Mac laptops and desktops in the June quarter. Experts suggest Apple's growth in Mac sales is driven by increasing enterprise demand, and estimate that revenues from the Mac portfolio in India grew 67% year-on-year. While iPhones still account for the majority of Apple's India revenue, the growth in Mac sales could help the company further penetrate the Indian market.
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Unicommerce Bolsters Sales & Marketing Verticals With Two New Senior Directors
Inc42
·
9m ago
Medial
Unicommerce has hired Pranay Kale as Senior Director of Sales and Vaibhav Mehrotra as Senior Director of Marketing to enhance its leadership team and drive growth in the ecommerce enablement sector. With over 18 years of experience in SaaS sales, Kale is set to strengthen Unicommerce's market presence. Meanwhile, Mehrotra, who brings 15 years of expertise in digital marketing, will help improve customer acquisition strategies. The company aims to expand into international markets like Thailand, Egypt, and Qatar, following a 9.18% revenue growth and a 30.97% increase in net profit.
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