Samsung Q3 earnings report confirms record-breaking profits

As expected Samsung’s Q3 earnings report brought record-breaking profits with KRW 73.9 trillion ($63 billion) in revenue and KRW 15.8 trillion ($13.4 billion) in operating profits – the highest in the past three years and second highest in Samsung history. Revenues rose 10% on a yearly basis while profits increased by 26% compared to Q3 2020. As expected, Samsung’s semiconductor business propelled profits with extended demand for data centers and cloud servers. Total sales in the semiconductor department totaled KRW 26.4 trillion ($22.5 billion) which is a 16% improvement compared to last...

from GSMArena.com - Latest articles https://bit.ly/3CqhHzF

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In the pandemic economy, tech companies are raking it in

Illustration by Alex Castro / The Verge From a pure entertainment perspective, I am genuinely sorry that the House’s antitrust hearing targeting the big four tech companies — Amazon, Apple, Facebook and Google — took place Wednesday instead of next week. Because literally a day after a meeting attempting to determine if Big Tech was too big, three of the four companies in the hearing got bigger . (Google’s parent company, Alphabet, had a decline in revenue of about 2 percent, mostly due to a decline in search ads — but this was still better than analysts predicted .) None of these companies wanted their earnings numbers read aloud to them before questioning began The hearing was about how tech companies have consolidated their power . The coronavirus seems to be making that... Continue reading… from The Verge - All Posts https://bit.ly/33bChoU

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