Microsoft enjoyed strong income and revenue growth for its third fiscal quarter despite sluggish PC sales, with Xbox and Office doing well, the company reported Thursday.
Acer, the world's second largest PC maker, saw its revenue slump in the first quarter following a management shakeup and what it described as a seasonal lull in demand. The Taiwanese manufacturer is now counting on tablets to boost overall sales.
SAP saw revenue rise by 21 percent in the quarter ended March 31, with double-digit growth in all regions driven by increased software business from partners and the channel.
China's largest search engine, Baidu, reported strong revenue and profit growth in the first quarter, driven by "solid traffic growth" and measures to generate more revenue from the company's sites.
Wipro, India's third largest outsourcer, said on Wednesday that its IT services business had grown by 20 percent to US$1.4 billion for the quarter ended March 31, reflecting strong demand from outside the country for offshore services.
A Who's Who of IT bellwethers including Apple, IBM, Intel and Qualcomm issued strong financial reports this week, the height of earnings season, reinforcing forecasts for a strong year for the tech sector.
AMD posted gains in both revenue and profit in the first quarter, citing lower prices but higher unit sales of microprocessors compared with a year earlier.
Verizon Communication reported revenue of US$27 billion for the first quarter of 2011, up 0.3 percent from a year earlier, with the company pointing to growth in mobile customers as a cause for optimism.
Nokia reported an increase in sales for the first quarter, but profit declined and the company expects a challenging second quarter as it bears the full brunt of component shortages resulting from the earthquake in Japan.
Indian outsourcers Tata Consultancy Services (TCS), and HCL Technologies reported this week strong revenue and profit growth for the quarter ended March 31, as outsourcing by clients to offshore locations picked up.
While Apple's iPhone is selling well across the globe, China has emerged as its fastest growing market for the device.
Apple's revenue and profit soared in its fiscal second quarter ended March 26, buoyed by strong iPhone sales, the company said Wednesday.
AT&T's revenue for the first quarter of 2011 was up 2.3 per cent and its net income rose 38.9 per cent from a year earlier, driven by mobile customer gains.
China Mobile, the world's largest mobile carrier, said its customer base exceeded 600 million on Wednesday, as the company reported an increase in profits for the first quarter of 2011.
Yahoo's revenue and profit slid significantly in the first quarter, but the company's performance was in line with Wall Street's expectations and company officials said the results reflect solid execution toward its financial goals.
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