News

Facebook's quarterly profit surges 186% to $2 billion Facebook’s profit leapt 186% from a year ago to $2 billion, as the world's biggest social network blasted past most analyst forecasts for the second quarter. With its global base of monthly active users growing to 1.71 billion,   Facebook   saw a 59% jump in total   revenues   to $6.4 billion, mostly from online advertising. Facebook shares jumped seven percent in after-hours trade on the stronger-than-expected results. "Our community and business had another good quarter," said Facebook founder and chief executive Mark Zuckerberg. "We're particularly pleased with our progress in video as we move towards a world where video is at the heart of all our services." Facebook has been dominating the social media space as well as related   online advertising   as it seeks to diversify into areas such as messaging, virtual reality and other fields. The research firm eMarketer estimates that Fa...

India is the apple of CEO Tim Cook's eye as iPhone sales spike over 50% India has become one among the fastest growing markets for Apple, which is looking at increasingly offloading more iPhones in the country to offset the decline in the device’s sales globally. iPhone   sales in India were up by 51% during the nine months that ended June 30, company CEO   Tim Cook   revealed during an earnings call with analysts and investors. “We're looking forward to opening retail stores in India down the road, and we see huge potential for that vibrant country,” he added. On the contrary, iPhone sales have fallen for two straight quarters now as the global market for smartphones especially developed markets) becomes saturated. In its third quarter (April-June),   Apple   reported a 15% drop in iPhone sales from 47.5 million units in the corresponding quarter last year to 40.4 million units. The iPhone contributes to over 60% of Apple’s earnings, making it the m...

5 key takeaways from the Infosys results It does not take the markets too long to analyse Infosys’ results. Within seconds of announcement of the results, the stock price reflects what the market thinks about it. It was a poor start for   Infosys   for FY17 with the first quarter number missing analysts’ expectation on the revenue front. The markets showed their disappointment by pushing the stock 9% lower. The June quarter numbers came as a surprise, especially when market was getting complacent on Infosys beating expectations as it did in it last four quarters. Apart from revenue there are some more disappointments in the quarterly numbers. Here are five key   takeaways   from the Infosys results. 1. The company reported 2.2% QoQ growth in dollar revenues but a 1.7% growth in constant currency terms which was mainly on account of lower volume growth which grew by 2.2% as compared to 2.4% in the previous quarter. Justifying the lower-than-expected numbers, I...

Mumbai University likely to announce TYBA results on Monday The University of Mumbai (MU) will declare   results  of the Third Year Bachelor of Arts (TYBA) examination on June 20, 2016. It will be available on the official website of the varsity,  http://mu.ac.in , most likely in the afternoon. Candidates, who have appeared for the exam, can download the result from the website. Here is a step-by-step guide on how to: 1. Open the results page on MU official website  http://mu.ac.in/portal/re sults/ 2. Select the stream – Arts 3. Enter your Seat Number, name, date of birth and other credentials as required 4. Click submit 5. Download the marksheet / score card and take a printout The marksheet issued will include subject-wise details and the candidates can check their overall percentage. However, the online marksheet is a reference copy and hence temporary. The valid and original marksheet by the MU board would be available at the students' res...

Tata Consultancy Services (TCS), India’s largest IT services provider’s fourth quarter numbers for the FY2016 will be one of the most awaited event today for two reasons. The company’s share price was trending at Rs 2,469.45 per share, down by 2.13% as the markets opened. The first will be for the performance of the company, especially after its competitor Bengaluru-based Infosys has reported a stellar performance, but more importantly, the Street and analysts will want to hear the management on the $940 million notice fine on the company by a Federal Jury in the US. Based on the comment made by management in the last few months, this quarter could well be bottoming out quarter in terms of performance. The company has been missing expectations for the last six quarters, owing to softness in telecom, oil and gas and its insurance platform Diligenta. One also has to remember that Q3 and Q4 are traditionally weak quarter for the industry and for   TCS   in particular ...

The Union Cabinet was today “apprised” of an agreement signed between  India and Russia  for joint implementation of competitive research projects in areas of basic and exploratory sciences. The agreement, signed in May last year, is valid for a period of six years and could be extended through mutual consent between Department of Science and Technology(DST) and Russian Science Federation (RSF). It provides for competitive research grants to Indians and Russians for joint implementation of projects.