Though there were some concerns about tech company earnings this week as Microsoft, SAP and other bellwethers reported results, the IT sector has helped drive markets to a solid start for the second quarter.
Problems with an SAP software implementation in Australia dragged down technology distributor Ingram Micro's first-quarter profits, the company said this week.
High Tech Computer (HTC) reported another massive revenue increase in the first quarter due to brisk sales of smartphones, with more growth expected in the current quarter as its Flyer tablet PC and two handset models with dedicated Facebook buttons ...
Sprint added 1.1 million new wireless subscribers last quarter but the company still lost $439 million over the same period.
Research In Motion warned that its first-quarter smartphone shipments are likely to be lower than expected, cutting its earnings forecast for the quarter.
Motorola Mobility shipped 250,000 Xoom tablets in the first month the device was available, the company said on Thursday as part of its first-quarter earnings report.
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.
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