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Samsung Electronics says Q2 operating profits soar to $7.5 billion
Samsung Electronics says Q2 operating profits soar to $7.5 billion
Technology
by  AFP

Samsung Electronics said Wednesday that its operating profits soared fifteen-fold to $7.5 billion for the second quarter, as chip prices bounce back and demand for generative AI continues to grow. And demand for the advanced chips that power AI systems has skyrocketed thanks to the success of ChatGPT and other generative AI products.

Starbucks profits fall again but CEO says turnaround underway
Starbucks profits fall again but CEO says turnaround underway
Economy
by  AFP

Starbucks reported lower profits Tuesday behind broad-based sales declines, but shares rose as the company said a turnaround was on track. The company also faces pressure from activist fund Elliott Investment Management, which took a stake in the chain and is pushing for ways to boost its share price, US media have reported.

Microsoft cloud unit miss dulls bright earnings
Microsoft cloud unit miss dulls bright earnings
Technology
by  AFP

Microsoft shares slipped Tuesday after the tech giant reported quarterly profit climbed but its crucial cloud computing unit missed expectations. Cloud unit revenue of $36.8 billion, however, disappointed investors and shares slid more than five percent to $401.06 in after-market trades.