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Lenovo Releases Fiscal Year 2024/25 Earnings Report

Lenovo Group Limited, together with its subsidiaries ('the Group'), today announced Q4 and full year results for the fiscal year 2024/25, reporting significant increases in overall group revenue and profit. For the full year, revenue grew 21% year-on-year to US$69.1 billion, marking the Group's second-highest annual revenue in its history. Net income was up 36% year-on-year to US$1.4 billion on a non-Hong Kong Financial Reporting Standards (non-HKFRS) basis. The Group's diversified growth engines continue to accelerate, with non-PC revenue mix up nearly five points year-on-year to 47%. All business groups were healthy and strong and met their strategic intent and financial goals, and all sales geographies gained double-digit revenue growth year-on-year, reflecting the strength of the Group's diversified businesses and resilient global footprint.

The results were not only driven by the Group's focus on executing a clear strategy, but also its end-to-end integrated global operations (design, demand forecasting, procurement, manufacturing, marketing, sales, and services), ODM+ manufacturing model, and global resources/local delivery model. Over the past 20 years of operating a global business, Lenovo has established a manufacturing footprint that boasts 30+ manufacturing sites (either in-house or outsourced) in 11 different markets around the world. The combination of these gives the Group maximum flexibility and resilience to navigate through uncertainties and be more adaptive to the market conditions.

Tencent President Discusses Significant Stockpiling of AI GPUs - Open to Future Adoption of Native Designs

Martin Lau, President of Tencent, has divulged that his company has accumulated a "pretty strong stockpile" of NVIDIA AI chips. In a mid-week earnings call, the Chinese executive reckoned that this surplus will come in handy—upon the company unleashing its full-on upcoming "AI strategy." Lau was responding to a question regarding ripples caused by a recent introduction of revised licensing requirements for "high-end GPUs." His lengthy reply seems to align with "leaked April time" information; when industry analysts theorized a massive $16 billion spend—reportedly, big Chinese tech firms had splurged out with swift acquisitions of NVIDIA H20 GPUs. Lau commented on present day conditions: "it's actually a very dynamic situation right now. Since the last earnings call, we have seen an H20 ban, and then after that there was the BIS new guidelines that just came in overnight...If you look at the allocation of the usage of these chips, obviously they'll be used for the applications that will generate immediate returns for us. For example, in the advertising business as well as content recommendation product, where we actually would be using a lot of these GPUs to generate results and generate returns for us. Secondly, in terms of the training of our large language models, they will be of the next priority and the training actually requires higher-end chips."

Team Green's engineering team has likely been strong-armed into designing further compromised hardware; as "exclusive" sanction-conforming options for important enterprise customers in China. Tencent seems to have enough pre-ban specimens to tide things over, for a while. The firm's president envisioned a comfortable position, for the foreseeable future: "over the past few months, we (started) to move off the concept or the belief of American tech companies—which they call 'the scaling law'—which required continuous expansion of the training cluster. And now we can see even with a smaller cluster you can actually achieve very good training results. And there's a lot of potential that we can get on the post-training side which do not necessarily meet very large clusters. We should have enough high-end chips to continue our training of models for a few more generations going forward." Huawei's controversial Ascend 910C AI accelerator seems to be the top alternative contender; tech watchdogs believe that this design's fortunes will be closely tied to the rising dominance of DeepSeek. Fairly recent leaks have indicated impressive progress being made within China's domestic AI accelerator infrastructure.

Turtle Beach Corporation Announces Growth in Revenue, Adjusted EBITDA and Gross Margins in First Quarter 2025 Results

Turtle Beach Corporation (Nasdaq: TBCH), a leading gaming accessories brand, today reported strong financial results, including growth in revenue, Adjusted EBITDA, and gross margins in the first quarter ended March 31, 2025.

First Quarter Highlights
  • Net revenue was $63.9 million, an increase of 14% compared to the prior year period.
  • Gross margin improved approximately 470 basis points to 36.6% compared to 31.8% in the prior year.
  • Net loss was $(0.7) million or ($0.03) per diluted share compared to net income of $0.2 million or $0.01 per diluted share in the prior year period.
  • Adjusted EBITDA was $4.1 million, compared to $1.4 million in the prior year period.
  • Generated $40.5 million in cash flow from operations, the highest level since 2019.
  • Authorized a new $75 million stock repurchase program.

Samsung Electronics Announces First Quarter 2025 Results

Samsung Electronics today reported financial results for the first quarter ended March 31, 2025. The Company posted KRW 79.14 trillion in consolidated revenue, an all-time quarterly high, on the back of strong sales of flagship Galaxy S25 smartphones and high-value-added products. Operating profit increased to KRW 6.7 trillion despite headwinds for the DS Division, which experienced a decrease in quarterly revenue.

The Company has allocated its highest-ever annual R&D expenditure for 2024, and in the first quarter of this year, it has also increased its R&D expenditure by 16% compared to the same period last year, amounting to 9 trillion won. Despite the growing macroeconomic uncertainties due to recent global trade tensions and slowing global economic growth, making it difficult to predict future performance, the Company will continue to make various efforts to secure growth. Additionally, assuming that the uncertainties are diminished, it expects its performance to improve in the second half of the year.

Samsung Electronics Announces Fourth Quarter and FY 2024 Results

Samsung Electronics today reported financial results for the fourth quarter and the fiscal year 2024. The Company posted KRW 75.8 trillion in consolidated revenue and KRW 6.5 trillion in operating profit in the quarter ended December 31, 2024. For the full year, it reported KRW 300.9 trillion in annual revenue and KRW 32.7 trillion in operating profit.

Although fourth quarter revenue and operating profit decreased on a quarter-on-quarter (QoQ) basis, annual revenue reached the second-highest on record, surpassed only in 2022. Meanwhile, operating profit was down KRW 2.7 trillion QoQ, due to soft market conditions especially for IT products, and an increase in expenditures including R&D. In the first quarter of 2025, while overall earnings improvement may be limited due to weakness in the semiconductors business, the Company aims to pursue growth through increased sales of smartphones with differentiated AI experiences, as well as premium products in the Device eXperience (DX) Division.

Microsoft Announces its FY25 Q2 Earnings Release

Microsoft Corp. today announced the following results for the quarter ended December 31, 2024, as compared to the corresponding period of last fiscal year:
  • Revenue was $69.6 billion and increased 12%
  • Operating income was $31.7 billion and increased 17% (up 16% in constant currency)
  • Net income was $24.1 billion and increased 10%
  • Diluted earnings per share was $3.23 and increased 10%
"We are innovating across our tech stack and helping customers unlock the full ROI of AI to capture the massive opportunity ahead," said Satya Nadella, chairman and chief executive officer of Microsoft. "Already, our AI business has surpassed an annual revenue run rate of $13 billion, up 175% year-over-year."

TSMC Reports Record Q4 2024 Earnings with 37% YoY Growth

TSMC (TWSE: 2330, NYSE: TSM) today announced consolidated revenue of NT$868.46 billion, net income of NT$374.68 billion, and diluted earnings per share of NT$14.45 (US$2.24 per ADR unit) for the fourth quarter ended December 31, 2024. Year-over-year, fourth quarter revenue increased 38.8% while net income and diluted EPS both increased 57.0%. Compared to third quarter 2024, fourth quarter results represented a 14.3% increase in revenue and a 15.2% increase in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.

In US dollars, fourth quarter revenue was $26.88 billion, which increased 37.0% year-over-year and increased 14.4% from the previous quarter. Gross margin for the quarter was 59.0%, operating margin was 49.0%, and net profit margin was 43.1%. In the fourth quarter, shipments of 3-nanometer accounted for 26% of total wafer revenue; 5-nanometer accounted for 34%; 7-nanometer accounted for 14%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 74% of total wafer revenue.

Nanya Technology Reports Results for the Fourth Quarter 2024

Nanya Technology Corporation, today announced its results of operations for the fourth quarter, ended December 31, 2024. Nanya's quarterly sales revenue was NT$ 6,575 million, a 19.2 percent decrease compared to that in the third quarter of 2024. In the fourth quarter of 2024, average selling prices (ASP) decreased by low-teens percent and bit shipment decreased by high-single digit percent quarter over quarter.

Gross loss of the quarter was NT$ 695 million; gross margin was -10.6 percent, a 13.8 percentage points decrease from that in the previous quarter. Operating loss of the quarter was NT$ 2,812 million; operating margin was -42.8 percent; a 12.0 percentage points decrease from that in the last quarter. Non-operating income of the quarter was NT$ 900 million. The Company had net loss of NT$ 1,574 million, with net margin of -23.9 percent. Earnings per share (EPS) was NT$ -0.51 in the fourth quarter (based on weighted average outstanding shares of 3,099 million).

Intel Reports Third-Quarter 2024 Financial Results

Intel Corporation today reported third-quarter 2024 financial results.

"Our Q3 results underscore the solid progress we are making against the plan we outlined last quarter to reduce costs, simplify our portfolio and improve organizational efficiency. We delivered revenue above the midpoint of our guidance, and are acting with urgency to position the business for sustainable value creation moving forward," said Pat Gelsinger, Intel CEO. "The momentum we are building across our product portfolio to maximize the value of our x86 franchise, combined with the strong interest Intel 18A is attracting from foundry customers, reflects the impact of our actions and the opportunities ahead."

Microsoft Announces its FY25 Q1 Earnings Release

Microsoft Corp. today announced the following results for the quarter ended September 30, 2024, as compared to the corresponding period of last fiscal year:
  • Revenue was $65.6 billion and increased 16%
  • Operating income was $30.6 billion and increased 14%
  • Net income was $24.7 billion and increased 11% (up 10% in constant currency)
  • Diluted earnings per share was $3.30 and increased 10%
"AI-driven transformation is changing work, work artifacts, and workflow across every role, function, and business process," said Satya Nadella, chairman and chief executive officer of Microsoft. "We are expanding our opportunity and winning new customers as we help them apply our AI platforms and tools to drive new growth and operating leverage."

Lenovo Releases Fiscal Year 2023/24 Earnings Report

Lenovo Group today announced Q4 and full-year results for fiscal year 2023/24. After resuming growth in Q3, the Group reported year-on-year revenue growth across all business groups in Q4, with Group revenue increasing nearly 10% year-on-year to US$13.8 billion, net income doubling year-on-year to US$248 million, and non-PC revenue mix reaching a historic high of 45%. The Group's Q4 and overall 2nd half performance demonstrates how Lenovo has navigated the past year's industry downturn, captured the tremendous growth opportunities presented by AI, and accelerated momentum across the business. Revenue for the full fiscal year was US$56.9 billion, and net income was US$1 billion. From the second half of the fiscal year, Lenovo achieved year-on-year revenue growth of 6% and net margin recovered from a first half year-on-year decline to flat in the second half.

The Group is leading in an era of unprecedented AI opportunities with its pocket-to-cloud portfolio, strong ecosystem and partnerships, and full-stack AI capabilities. Since announcing its AI strategy in October 2023 at its annual Tech World event, Lenovo has launched its first wave of AI PCs as well as AI capabilities covering other smart devices, smart infrastructure, and smart solutions and services. The Group expects the AI PC - which is defined as equipped with a personal AI agent based on natural interactions, heterogeneous computing, personal knowledge base, connected to an open AI application ecosystem, and with privacy and security protection - to grow from its current premium position to mainstream over the next three years, driving a new refresh cycle for the industry. Hybrid AI is also driving greater demand for AI infrastructure and customers are increasingly asking for customized AI solutions and services, particularly consulting, design, deployment and maintenance of AI.

Qualcomm Believes that Snapdragon X Elite Launch Will Coincide with "Windows 12"

During a January 31 Earnings Call, Cristiano Renno Amon (President and CEO of Qualcomm) discussed the upcoming launch of his company's Snapdragon X Elite processor—an ARM-based SoC that is built "for AI" on next generation tablets, notebooks and ultra-slim laptops. The twelve onboard custom Oryon cores are part of a package that will become (in marketing terms): "the most powerful, intelligent, and efficient processor ever created for Windows in its class. With cutting edge responsiveness, navigate demanding multi-tasking workloads across productivity, creativity, immersive entertainment, and more..." Amon and his executive colleagues are targeting a middle-of-2024 launch of Snapdragon X Elite-powered devices, he also mentioned a next-gen version of Microsoft's operating system in the same sentence: "We're tracking to the launch of products with this chipset tied with the next version of Microsoft Windows that has a lot of the Windows AI capabilities. We're still maintaining the same date, which is driven by Windows, which is mid-2024, getting ready for back-to-school."

The rumor mill has "Windows 12" marked down for a summer 2024 launch period—last December, Taiwan's Commercial Times reported on a number sources within the PC manufacturing industry—alluding to a June release date. Intel Chief Financial Officer Dave Zinsner relayed a similar schedule to a Citi interviewer (reported by PC Gamer): "We actually think '24 is going to be a pretty good year for client, in particular, because of the Windows refresh. And we still think that the installed base is pretty old and does require a refresh and we think next year may be the start of that, given the Windows catalyst. So we're optimistic about how things will play out beginning in '24."

Qualcomm & Samsung Sign Extended Multi-year Snapdragon Deal

Cristiano Renno Amon, President and CEO of Qualcomm, discussed the successful launch of his company's Snapdragon 8 Gen 3 mobile platform during a January 31 Earnings Call—expectations have been set high for the flagship smartphone chipset: "(bringing) a new standard for on-device gen AI experiences for premium smartphones and powers all through flagship Android devices launched and launching this fiscal year." Amon highlighted Samsung's recently rolled out Galaxy S24 Ultra range, that makes use of a special "For Galaxy" Snapdragon 8 Gen 3 SoC. Industry watchdogs have continued to question Samsung's reliance on third-party processor solutions (including MediaTek Dimensity parts), despite having access to plenty of "worthy" in-house technology. Their flagship Exynos 2400 chip has been deployed with the Galaxy S24 Plus range, but Qualcomm Snapdragon-equipped devices offer better performance and efficiency.

The picky segment of Samsung's smartphone userbase will be pleased to hear about a renewed agreement between it and Qualcomm, which includes a trickling down to mid-range offerings—Amon made a big announcement during the late January conference call: "We're also announcing that we extended a multi-year agreement with Samsung relating to Snapdragon platforms for flagship Galaxy smartphone launches starting in 2024. The extended agreement demonstrates the value of Snapdragon 8, our technology leadership and our successful long-term strategic partnership with Samsung. In the quarter, we also announced the Snapdragon 7 Gen 3 mobile platform, which brings leading gen AI capabilities to high-tier Android smartphones and is a category leader in both experiences and performance." Going forward, Samsung is likely sticking with its current operating model of peppering a mix of Snapdragon and Exynos chipsets throughout its Galaxy Z, S and A product ranges.

TSMC Delays Launch of Arizona Phase 2 Facility

TSMC's Fab 21 Phase 2 facility is currently under construction in the Greater Phoenix area, Arizona—this secondary production facility was originally announced as housing a 3 nm process production line (opening by 2026), but that company target will be missed by a sizable margin. The transcription of the company's Q4 2023 Earnings Call presents another set of shifted expectations—outgoing CEO, Dr. Mark Liu—admitted that a number of factors are expected to delay Phase 2's opening by another year or two: "The second fab shell is under construction, but what technology [to use] in that shell is still under discussion...I think that also has to do with how much incentives that fab, the U.S. Government can provide…The current planning [for the fab] is '27 or '28, that will be timeframe."

Industry analysts believe TSMC leadership have a tough choice to make—the second Arizona factory's delayed launch could provide enough lead time to upgrade with a more advanced node (e.g. 2 nm), but ambitions could be lowered for the troubled site. An older plus more mature fabrication process could be a better fit, although the neighboring Fab 21 Phase 1 site is already set for a full 2025 initiation on 4 nm FinFET. Liu outlined this challenge: "To be honest, most of the overseas fabs, what technology is being set up, really, it is a decision of customers' demand in that area at that timing. So, nothing is definitive, but we are trying to optimize value for the overseas fab for TSMC." The current chairman will not be around for Phase 1's full deployment, but he shared some positive Arizona-related news: "We are well on track for volume production of N4, or 4 nm process technology, in the first half of 2025 [in Arizona] and are confident that once we begin operations, we will be able to deliver the same level of manufacturing quality and reliability in Arizona as from our fabs in Taiwan."

Acer Reports Q3'23 Consolidated Revenue Growth of 4.0% YoY and 15.8% QoQ at NT$67.47 Billion

Acer Inc. continues its business growth momentum in September and the third quarter of 2023. Acer reported its September consolidated revenues at NT$ 28.06 billion with 29.4% growth month-on-month (MoM) and summed up its preliminary consolidated revenues for Q3'23 at NT$67.47 billion, up 4.0% year-on-year (YoY) and 15.8% quarter-on-quarter (QoQ).

Seagate Starts Shipping Commercial Exos HAMR HDDs

Seagate has revealed that it has received revenue for Exos Corvault systems during a fourth quarter and fiscal year 2023 conference call—the latest server range is equipped with heat-assisted magnetic recording (HAMR) hard drives. We heard about evaluation samples being sent out to an important data center client around Spring time, but fresh corporate announcements have revealed that the first commercial HAMR-based systems have been picked up by paying customers. Gianluca Romano, the firm's chief financial officer stated: "Importantly, we shipped our first HAMR-based CORVAULT system for revenue as planned during the June quarter. We expect broader availability of these CORVAULT systems by the end of calendar 2023."

Seagate's chief executive, Dave Mosley, also revealed that higher capacity HAMR-based nearline hard drives have been sent out for testing in the field. He boasts that this was achieved during corporate cost cutting initiatives: "We reduced production output by approximately 25% compared with peak volume in order to drive better supply/demand dynamics and enhance profitability as the markets recover. And all of these accomplishments were made while delivering on our 30 TB+ HAMR product development and qualification milestones with volume ramp on track to begin in early calendar 2024...Initial customer qualifications are progressing well. We are on track to begin volume ramp in early calendar 2024. We are also preparing qualifications with a broader number of customers, including testing for lower capacity drives targeting VIA and enterprise OEM workloads." He also outlined plans to keep PMR and SMR hard drive technologies alive for another generation: "Development efforts on what may be our last PMR product are nearing completion and will extend drive capacities into the mid- to upper 20 TB range." Clients who are reluctant to jump onto HAMR could be offered some alternatives—24 TB+ models based on PMR+TDMR and SMR+TDMR configurations are roadmapped for release by the end of the year.

Samsung Electronics Announces Second Quarter 2023 Results

Samsung Electronics today reported financial results for the second quarter ended June 30, 2023. The Company posted KRW 60.01 trillion in consolidated revenue, a 6% decline from the previous quarter, mainly due to a decline in smartphone shipments despite a slight recovery in revenue of the DS (Device Solutions) Division. Operating profit rose sequentially to KRW 0.67 trillion as the DS Division posted a narrower loss, while Samsung Display Corporation (SDC) and the Digital Appliances Business saw improved profitability.

The Memory Business saw results improve from the previous quarter as its focus on High Bandwidth Memory (HBM) and DDR5 products in anticipation of robust demand for AI applications led to higher-than-guided DRAM shipments. System semiconductors posted a decline in profit due to lower utilization rates on weak demand from major applications.

Microsoft Releases FY23 Q4 Earnings, Xbox Hardware Revenue Down 13%

Microsoft Corp. today announced the following results for the quarter ended June 30, 2023, as compared to the corresponding period of last fiscal year:
  • Revenue was $56.2 billion and increased 8% (up 10% in constant currency)
  • Operating income was $24.3 billion and increased 18% (up 21% in constant currency)
  • Net income was $20.1 billion and increased 20% (up 23% in constant currency)
  • Diluted earnings per share was $2.69 and increased 21% (up 23% in constant currency)
"Organizations are asking not only how - but how fast - they can apply this next generation of AI to address the biggest opportunities and challenges they face - safely and responsibly," said Satya Nadella, chairman and chief executive officer of Microsoft. "We remain focused on leading the new AI platform shift, helping customers use the Microsoft Cloud to get the most value out of their digital spend, and driving operating leverage."

Apple 2022 Earnings Report Goes Live, Shows Strong Cashflow Despite Economic Slowdown

Apple today announced financial results for its fiscal 2023 first quarter ended December 31, 2022. The Company posted quarterly revenue of $117.2 billion, down 5 percent year over year, and quarterly earnings per diluted share of $1.88.

"As we all continue to navigate a challenging environment, we are proud to have our best lineup of products and services ever, and as always, we remain focused on the long term and are leading with our values in everything we do," said Tim Cook, Apple's CEO. "During the December quarter, we achieved a major milestone and are excited to report that we now have more than 2 billion active devices as part of our growing installed base."

Samsung Electronics Announces Fourth Quarter and FY 2022 Results, Profits at an 8-year Low

Samsung Electronics today reported financial results for the fourth quarter and the fiscal year 2022. The Company posted KRW 70.46 trillion in consolidated revenue and KRW 4.31 trillion in operating profit in the quarter ended December 31, 2022. For the full year, it reported 302.23 trillion in annual revenue, a record high and KRW 43.38 trillion in operating profit.

The business environment deteriorated significantly in the fourth quarter due to weak demand amid a global economic slowdown. Earnings at the Memory Business decreased sharply as prices fell and customers continued to adjust inventory. The System LSI Business also saw a decline in earnings as sales of key products were weighed down by inventory adjustments in the industry. The Foundry Business posted a new record for quarterly revenue while profit increased year-on-year on the back of advanced node capacity expansion as well as customer base and application area diversification.

UMC Reports Fourth Quarter 2022 Results

United Microelectronics Corporation ("UMC" or "The Company"), a leading global semiconductor foundry, today announced its consolidated operating results for the fourth quarter of 2022. Fourth quarter consolidated revenue was NT$67.84 billion, decreasing 10.0% QoQ from NT$75.39 billion in 3Q22. Compared to a year ago, 4Q22 revenue grew 14.8% YoY from NT$59.10 billion in 4Q21. Consolidated gross margin for 4Q22 was 42.9%. Net income attributable to the shareholders of the parent was NT$19.1 billion, with earnings per ordinary share of NT$1.54.

Jason Wang, co-president of UMC, said, "In the fourth quarter, due to a significant slowdown across most of our end markets and inventory correction in the semiconductor industry, our wafer shipments fell 14.8% QoQ while overall fab utilization rate dropped to 90%. Average selling price increased slightly during the quarter as a result of our ongoing product mix optimization efforts, moderating the decline in revenue."

AMD Trims Q3 Forecast, $1 Billion Missing, Client Processor Revenue down 40%, Halved Quarter-over-Quarter

AMD (NASDAQ:AMD) today announced selected preliminary financial results for the third quarter of 2022. Third quarter revenue is expected to be approximately $5.6 billion, an increase of 29% year-over-year. AMD previously expected revenue to increase approximately 55% year-over-year at the mid-point of guidance. Preliminary results reflect lower than expected Client segment revenue resulting from reduced processor shipments due to a weaker than expected PC market and significant inventory correction actions across the PC supply chain.

Revenue for the Data Center, Gaming, and Embedded segments each increased significantly year-over-year in-line with the company's expectations. Gross margin is expected to be approximately 42% and non-GAAP(*) gross margin is expected to be approximately 50%. AMD previously expected non-GAAP gross margin to be approximately 54%. The gross margin shortfall to expectations was primarily due to lower revenue driven by lower Client processor unit shipments and average selling price (ASP). In addition, the third quarter results are expected to include approximately $160 million of charges primarily for inventory, pricing, and related reserves in the graphics and client businesses.

UMC Reports Second Quarter 2022 Results

United Microelectronics Corporation ("UMC" or "The Company"), a leading global semiconductor foundry, today announced its consolidated operating results for the second quarter of 2022. Second quarter consolidated revenue was NT$72.06 billion, increasing 13.6% QoQ from NT$63.42 billion in 1Q22. Compared to a year ago, 2Q22 revenue grew 41.5% YoY from NT$50.91 billion in 2Q21. Consolidated gross margin for 2Q22 reached 46.5%. Net income attributable to the shareholders of the parent was NT$21.33 billion, with earnings per ordinary share of NT$1.74.

Jason Wang, UMC co-president, said, "In the second quarter, we delivered results in line with guidance, thanks to continuous strong demand for UMC's differentiated processes across our end markets. Overall wafer shipments rose 4.3% from the previous quarter, while higher average selling price and a favorable foreign exchange rate lifted second-quarter gross margin to 46.5%. Revenue from our 22/28 nm portfolio increased 29% sequentially, driven by the additional capacity at Fab 12A P5 that came online during the second quarter. We are confident in the long-term growth prospects of our 22/28 nm business, which now represents 22% of UMC's overall wafer revenue, and has demonstrated solid traction for OLED display drivers, image processors, WiFi, and automotive applications. As structural trends drive semiconductor content increase in end devices from smartphones to automobiles, it is our conviction that 28 nm is a long-lasting node that will be important for many existing and emerging applications for years to come."

Microsoft Cloud strength drives fourth quarter results

Microsoft Corp. today announced the following results for the quarter ended June 30, 2022, as compared to the corresponding period of last fiscal year:
  • Revenue was $51.9 billion and increased 12% (up 16% in constant currency)
  • Operating income was $20.5 billion and increased 8% (up 14% in constant currency)
  • Net income was $16.7 billion and increased 2% (up 7% in constant currency)
  • Diluted earnings per share was $2.23 and increased 3% (up 8% in constant currency)
"We see real opportunity to help every customer in every industry use digital technology to overcome today's challenges and emerge stronger," said Satya Nadella, chairman and chief executive officer of Microsoft. "No company is better positioned than Microsoft to help organizations deliver on their digital imperative - so they can do more with less."

Intel Reports Fourth-Quarter and Full-Year 2021 Financial Results

Intel Corporation today reported fourth-quarter and full-year 2021 financial results. The company also announced that its board of directors approved a cash dividend increase of five percent to $1.46 per share on an annual basis. The board declared a quarterly dividend of $0.365 per share on the company's common stock, which will be payable on March 1 to shareholders of record as of February 7.

"Q4 represented a great finish to a great year. We exceeded top-line quarterly guidance by over $1 billion and delivered the best quarterly and full-year revenue in the company's history," said Pat Gelsinger, Intel CEO. "Our disciplined focus on execution across technology development, manufacturing, and our traditional and emerging businesses is reflected in our results. We remain committed to driving long-term, sustainable growth as we relentlessly execute our IDM 2.0 strategy."
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