Home Tags Posts tagged with "sales report"

sales report

0

IBM’s sales dropped for the 13th consecutive quarter, the world’s largest technology services company has reported.

According to the company, revenue fell 13.5% to $20.8 billion, while net profit fell 17% to $3.5 billion.

The strong US dollar and IBM’s decision to move away from its hardware business to focus on higher-margin operations both hit its performance.

CEO Ginni Rometty said that the second-quarter results reflected the company’s ongoing transformation.IBM revenue falls July 2015

“We continue to transform our business to higher value and return value to shareholders,” she said.

US sales fell 8%, while European, Middle East and African sales dropped 17%.

However, its worst performance was in Brazil, Russia, India and China where sales fell 35%.

IBM said much of the fall was due to the impact of the strong US dollar and the sale of its System x business. Excluding that unit, sales were down by just 18%.

In contrast, IBM said revenues from its new areas of focus – cloud computing, analytics and engagement – had risen by more than 20% this year.

IBM shares fell 4.9% in after-hours trading in New York.

They closed at $173.25, valuing the company at almost $170 billion.

0

Huawei has reported a 19% jump in sales to 135.8 billion yuan ($21.9 billion) for the first six months of the year.

The Chinese telecom equipment maker said it expects to make an operating profit margin of 18.3% for the period.

Huawei has traditionally concentrated on making telecoms network equipment, but has benefited by diversifying into fast-growing sectors such as smartphone manufacturing.

It is now one of the world’s largest smartphone makers.

Cathy Meng, the company’s chief financial officer, said the firm “achieved quality and sustainable growth in our consumer business thanks to the increase of brand awareness and smart devices sales worldwide”.

According to IDC, Huawei shipped 13.7 million smartphones in the first three months of this year – making it the third-biggest smartphone vendor in the world.

Huawei is now one of the world's largest smartphone makers

Huawei is now one of the world’s largest smartphone makers

Huawei did not give a breakdown of its latest sales numbers.

The company has also been looking to tap into the market for wearable technology and introduced its hybrid Talkband smart device earlier this year.

Furthermore, China’s investment in fourth-generation mobile network technology has led to a steady stream of revenue for the company.

“Driven by increasing investments in LTE networks worldwide, Huawei has further solidified its leadership position in mobile broadband,” Cathy Meng said in the statement.

Huawei’s growth comes despite it coming under scrutiny in key markets in recent years.

In 2012, US politicians claimed that the company posed a security threat because of its alleged links to China’s government and military.

The concerns over its association with the Chinese authorities have been driven in part, by the fact that the company’s founder, Ren Zhengfei, was a former member of the People’s Liberation Army.

However, Huawei has repeatedly denied those claims and has stressed that it is 100%-owned by its employees and founder.

Earlier this year, a report in the New York Times alleged that the National Security Agency (NSA) had infiltrated Huawei’s servers.

In response, China has demanded a clear explanation from the US government.

© © 2011 - 2023 BelleNews.com