Having fluctuated between both sides of the flatline, Microsoft shares rose by 1% after the company’s second-quarter earnings beat expectations. Microsoft raked in earnings per share (EPS) of $2.93 on revenue of $62 billion, beating expectations of $2.78 EPS on revenue of $61.1 billion. The PC maker’s cloud business raked in $33.7 billion, beating Wall Street estimates of $33.2 billion in revenue.

Google’s parent company Alphabet slumped by 5% after the company reported fourth-quarter earnings that failed to meet expectations. While total revenue of $72 billion beat a projected $71 billion, investors appeared more focused on the company’s inability to meet ad revenue expectations of $65.8 billion, with Alphabet earning $65.5 billion. Chipmaker AMD was also down 2% after hours with its earnings falling largely in line with expectations. AMD reported revenue of approximately $5.4 billion.

The post Nasdaq Slips as Tech Earnings Roll In appeared first on theprimarymarket.com.

“So a quarter ago, we would have thought that the PC business would be down, let’s call it high-single digits [percentage]. And our current view of the PC business is that it will be down, let’s call it mid-teens [percentage],” CEO Dr. Lisa Su explained to those present.

AMD’s updated sales forecast for the third quarter lies within the range of $6.5 billion to $6.9 billion, with a third-quarter gross profit margin projection of 54%. AMD’s stock dipped by 5% during pre-market trading on Wednesday.

By making this announcement, AMD is following in the footsteps of rival chip giant Intel; which told its investors to expect the PC market to plunge by 10% by year’s end. Intel’s stock tanked by 10% on Friday following this announcement.

The post AMD and Intel Warn That PC Market Growth is Nearing an End appeared first on theprimarymarket.com.

Having fluctuated between both sides of the flatline, Microsoft shares rose by 1% after the company’s second-quarter earnings beat expectations. Microsoft raked in earnings per share (EPS) of $2.93 on revenue of $62 billion, beating expectations of $2.78 EPS on revenue of $61.1 billion. The PC maker’s cloud business raked in $33.7 billion, beating Wall Street estimates of $33.2 billion in revenue.

Google’s parent company Alphabet slumped by 5% after the company reported fourth-quarter earnings that failed to meet expectations. While total revenue of $72 billion beat a projected $71 billion, investors appeared more focused on the company’s inability to meet ad revenue expectations of $65.8 billion, with Alphabet earning $65.5 billion. Chipmaker AMD was also down 2% after hours with its earnings falling largely in line with expectations. AMD reported revenue of approximately $5.4 billion.

The post Nasdaq Slips as Tech Earnings Roll In appeared first on theprimarymarket.com.

“So a quarter ago, we would have thought that the PC business would be down, let’s call it high-single digits [percentage]. And our current view of the PC business is that it will be down, let’s call it mid-teens [percentage],” CEO Dr. Lisa Su explained to those present.

AMD’s updated sales forecast for the third quarter lies within the range of $6.5 billion to $6.9 billion, with a third-quarter gross profit margin projection of 54%. AMD’s stock dipped by 5% during pre-market trading on Wednesday.

By making this announcement, AMD is following in the footsteps of rival chip giant Intel; which told its investors to expect the PC market to plunge by 10% by year’s end. Intel’s stock tanked by 10% on Friday following this announcement.

The post AMD and Intel Warn That PC Market Growth is Nearing an End appeared first on theprimarymarket.com.