Magna Q4 earnings plummet
The quarterly and annual earnings drops for Magna, the world's fourth-largest supplier by annual sales to automakers, reflect the broader financial struggles parts suppliers have faced during the last year......»»
Cisco security appliance 0-day is under attack by ransomware crooks
With no patch available yet, users must enable workarounds. The best: enforce MFA. Enlarge / Cisco Systems headquarters in San Jose, California, US, on Monday, Aug. 14, 2023. Cisco Systems Inc. is scheduled to release earnings fi.....»»
Stellantis offers 14.5% raises to UAW
The proposal compares to initial offers of 15% by Ford Motor Co. and 16% by General Motors, though Stellantis wants to structure the raises in a way that would have a larger effect on workers' future earnings......»»
Magna sees EV battery enclosures generating $2.5 billion in sales by 2027
Diversified supplier Magna International Inc. said today it expects to generate $2.5 billion in annual revenue from electric vehicle battery enclosures by 2027, up from $100 million in 2022......»»
4 of 6 publics see Q2 F&I gross profit drop; more decline possible
Lithia Motors, Penske Automotive, Group 1 Automotive and Asbury Automotive all saw same-store F&I gross profit per vehicle decline year over year in second-quarter earnings, while AutoNation and Sonic Automotive posted increases. Analysts from Stephe.....»»
For Nvidia, it’s AI or bust as it reports a record-breaking quarter
Everybody wants GPUs for AI, and that's making Nvidia very happy (and rich). Enlarge (credit: Getty Images | Aurich Lawson) On top of Wednesday's news that Nvidia earnings have performed far better than expected, Reuters.....»»
Nvidia thinks AI boom is far from over as GPU sales drive big earnings win
Everybody wants GPUs for AI, and that's making Nvidia very happy (and rich). Enlarge (credit: Getty Images | Aurich Lawson) On top of Wednesday's news that Nvidia earnings have performed far better than expected, Reuters.....»»
Advance Auto Parts names new CEO, starts review as earnings shrink
Shane O’Kelly will replace Tom Greco, who informed the company earlier this year of his plans to retire. Advance Auto said that Greco will stay on for an unspecified period as an adviser......»»
Foxconn predicts decline in iPhone demand
Foxconn's parent company Hon Hai says it expects iPhone and other smartphone sales to contract overall in 2023, following its latest earnings report.A Foxconn facilityWhile Foxconn most recently reported its biggest quarterly fall in profits in three.....»»
iPhone 15 event date, iOS 17 Live Voicemail, Apple reports 1 billion paid subscriptions
Benjamin and Chance analyze the salient points from Apple’s quarterly earnings report, discuss the intriguing new Apple Music Discovery Station feature that launched this week, and everything new in the iOS 17 beta. We also think we know when the i.....»»
Linamar forms new structures group after improved Q2 earnings
Linamar posted record revenue and improved earnings in the second quarter of 2023, as its industrial unit showed continued strength and automotive parts sales stayed on the rebound from their pandemic-era lows......»»
New report reveals dramatic rise in cash earnings of shareholders in Britain"s big 2 oil companies
Amid the cost of living crisis in a world getting rapidly hotter, a new report published today reveals the staggering £113bn cash earnings of BP and Shell shareholders......»»
Rivian rules out price cuts in response to EV rivals
"We are bullish on the continued strong demand for our products," CEO RJ Scaringe said on Rivian's second-quarter earnings call. Rivian increased its 2023 production forecast to 52,000......»»
Rivian poised to report Q2 earnings as EV price war heats up
EV makers are cutting prices, including Tesla on its crossovers and Ford on its F-150 Lightning pickup. Incentives are also rising, putting pressure on Rivian as it ramps up production, analysts say......»»
CarGurus delays Q2 earnings release; stock price plunges
The vehicle listings company offered little explanation behind its earnings disclosure delay......»»
Apple execs tout Mac success following Intel transition but warn of Q4 double-digit drop in revenue
Even though Mac revenue took a slide in Apple’s Q3 2023 earnings, CEO Tim Cook and CFO Luca Maestri said the business is stronger than ever. Notably, Apple’s comments come as Apple completed its full transition to Apple Silicon during the quarter.....»»
AAPL reports Q3 2023 earnings: $81.8 billion revenue, iPhone sales dip
Amid concerns from analysts about the possibility of a major drop in revenue, Apple has officially reported its earnings for fiscal Q3 2023. AAPL reported revenue of $81.79 billion, down 1% year-over-year, and earnings-per-share of $1.26. Profit for.....»»
Apple surpasses 1 billion paid subscriptions as active devices are double that
We’ve been seeing Apple regularly tally a new services records as its reported quarterly earnings over recent years. Now the company has achieved a major milestone, more than 1 billion paid subscriptions, fueling another all-time services revenue r.....»»
Tim Cook touts that Apple has been investing in generative AI tech ‘for years’
Alongside the release of AAPL earnings for Q3 2023, Tim Cook is also touting the company’s investment in generative AI technology. In an interview with Reuters, Cook said that Apple has been “doing research across a wide range of AI technologies,.....»»
AAPL Q3 2023 at a glance, in Jason Snell’s usual colorful charts
Yesterday’s earnings report revealed mixed news for AAPL Q3 2023, starting with a fair chunk of bad news. Jason Snell has done his usual sterling work in transforming all the numbers into a series of colorful charts, letting us see all the key i.....»»
Tim Cook uses Vision Pro every day; most iPhones bought on “some kind of program”
Yesterday’s earnings numbers didn’t contain any major surprises, but there were a few interesting takeouts from the analyst call which followed. This includes the fact that CEO Tim Cook uses his Vision Pro every day. It was also revealed that.....»»