Paris: Hermes, whose handbags sell for $10,000 and more, on Thursday reported stronger than expected fourth-quarter revenue growth, lifted by strong sales in the United States and Japan. Thanks to its ultra-wealthy clients and large order backlog, the group has weathered a luxury sector slowdown better than most of its rivals, consistently increasing revenue while […]
Alphabet said rising demand for AI-powered services is driving growth across its businesses, even as investors question when massive industry-wide AI spending will translate into sustained returns. | Photo Credit: Dado Ruvic Alphabet said on Wednesday that capital expenditure could as much as double this year, in yet another aggressive spending ramp-up by the Google […]
Samsung Electronics’ chip division posted a more than five-fold jump in profit, beating estimates as surging demand for AI-related memory chips tightened global supply. Strong results from industry peers and rising capital spending by hyperscalers underscore the strength of the AI investment cycle. | Photo Credit: KIM HONG-JI Samsung Electronics Co.’s chip unit beat expectations […]
Microsoft reported blockbuster growth in its Azure business on Wednesday, pushing its quarterly revenue past Wall Street estimates. This was on a day when the cloud-computing service faced a massive outage. Microsoft Azure’s quarterly results show that businesses are still splurging on artificial intelligence services despite fears of a bubble. (REUTERS/ Representative) Microsoft Azure’s quarterly […]