Mike Wheatley
Latest from Mike Wheatley
Samsung says its chip business will recover in 2024 as AI drives renewed demand
South Korean technology giant Samsung Electronics Co. Ltd. said late today that it expects to see a slow recovery in demand for memory chips in the coming year, after reporting its biggest quarterly profit in fiscal 2023. The company said growing interest in devices that can power artificial intelligence workloads locally will boost demand for ...
Arista Networks’ stock jumps as it forecasts strong revenue on higher enterprise spending
Shares of the cloud networking company Arista Networks Inc. gained more than 9% in extended trading today after it beat Wall Street’s expectations with its third-quarter results and offered strong guidance thanks to improving supply chain restraints and renewed enterprise spending in coming months. The company reported net income for the third quarter of $581.4 million, up ...
Juniper beats expectations as enterprises step up hardware spending
Networking infrastructure supplier Juniper Networks Inc. beat forecasts on earnings and revenue as it benefited from higher spending by clients, sending its stock up more than 6% in after-hours trading late today. Juniper’s results, which were reported on a preliminary basis, provide further evidence of a recovery in cloud computing and other enterprise information technology ...
Intel beats expectations, reveals new foundry customers and traction in AI, sending its stock higher
Chipmaker Intel Corp.’s stock gained almost 8% in the extended trading session today after it delivered an upbeat forecast, beat expectations on profit and sales, talked up new customers for its nascent foundry business, and revealed growing traction in artificial intelligence. The company reported third-quarter earnings before certain costs such as stock compensation of 41 ...
Amazon delivers strong earnings and revenue beat, but cloud growth remains sluggish
Despite its cloud unit falling short of investor hopes, Amazon.com Inc. delivered third-quarter earnings and revenue that easily surpassed Wall Street’s, sending its stock higher in extended trading. The company reported earnings before certain costs such as stock compensation of 94 cents per share, blowing past the analysts’ forecast of 58 cents per share. Revenue ...
ServiceNow’s stock rises as it tops analysts’ predictions
ServiceNow Inc., the information technology workflow management company, posted better-than-expected third-quarter financial results today, sending its stock higher in extended trading. The company reported a net income of $242 million for the quarter, with earnings before certain costs such as stock compensation coming to $2.92 per share. Analysts were looking for a profit of just ...
Meta bests forecast but uncertainty over Middle East war weighs on stock
Shares of Facebook’s parent company Meta Platforms Inc. took a hit in extended trading today after it easily beat Wall Street’s expectations comfortably only to spook investors with ambiguousness over its prospects in the next financial year. The company delivered net income of $11.6 billion in the third quarter, up 164% from just $4.4 billion ...
IBM beats expectations as AI powers software revenue growth
Shares of IBM Corp. gained a percentage point in the after-hours trading session today after the company delivered third-quarter financial results that came in just ahead of analyst’s expectations The company reported earnings before certain costs such as stock compensation of $2.20 per share, coming in ahead of the $2.13 per share forecast. Revenue for ...
Cisco’s Webex AI combines audio, video and text intelligence to improve business communications
Cisco Systems Inc. today outlined some of the innovative ways it’s planning to use generative artificial intelligence within its Webex communications and collaboration platform. At its WebexOne event in Anaheim, California, it said it will apply AI to ensure crystal clear audio and video during calls and meetings, while improving the productivity of users. The new ...
SAP announces new generative AI capabilities to enhance customer experiences
SAP SE, a top provider of cloud-based enterprise resource planning software, said today it’s expanding its generative artificial intelligence push with a host of new capabilities available now within its portfolio of customer experience tools. The new capabilities are delivered via an upgrade to SAP’s natural language generative AI copilot Joule. They’re designed to automate ...