Apple Issues Profit Warning, Cuts Revenue Outlook By $9 Billion Amid Pricey iPhone Sales Drop

tomorrow’s prices Apple CEO Tim Cook issued the Silicon Valley company’s first profit warning in 16 years, knocking $9 billion off its revenue outlook for the December quarter blaming the drop in iPhone sales on China’s slowing economy and consumers savvy-ness rather than on years of price gouging and the lack of product innovation. (Photo … Read more Apple Issues Profit Warning, Cuts Revenue Outlook By $9 Billion Amid Pricey iPhone Sales Drop

Samsung profit estimate surges despite Note 7 battery fiasco

Samsung Electronics has reported a 50% profit surge in its guidance for the fourth quarter despite the fiasco with its flagship Note 7 phone. The earnings estimate is higher than analysts predicted and would mark its highest quarterly profit since 2013. In October, the world’s largest smartphone maker had to scrap the Note 7 after … Read more Samsung profit estimate surges despite Note 7 battery fiasco

Adidas: Operating profit up 77%; gets nod for FDI in India

Adidas, a German sports goods and sportswear retailer, has reported a rise of 77 per cent in its operating profit in the second quarter of the year to € 414 million. The company’s revenues also increased by 21 per cent Y-O-Y on a currency neutral basis and 13 per cent in Euro terms to € … Read more Adidas: Operating profit up 77%; gets nod for FDI in India