Amazon posted its third consecutive $100 billion quarter during Q2 this year; revenue grew 27 percent year-over-year to $113.08 billion. Refinitiv revealed earnings of $15.12 versus $12.30 per share, and revenue of $113.08 billion versus $115.2 billion. However, Amazon predicts slightly slower growth for the upcoming quarters. In Q3, the company estimates its operating profit would land somewhere between $2.5 billion and $6 billion. According to chief financial officer Brian Olsavsky, “most of Amazon’s 2021 spend and building openings are planned for the second-half of the year.” Continue reading Amazon Has Strong Q2, Earnings Helped by Cloud, Ad Sales

In Q2 2021, Samsung Electronics posted a 73 percent increase in net profit to about $8.37 billion (9.63 trillion won), and a revenue increase of 20 percent to 63.57 trillion won, both numbers surpassing analyst expectations. Although the South Korean company’s sales of smartphones was relatively weak, its semiconductors — used by Apple and Sony among others — were snapped up by Big Tech companies churning out PCs, servers and other devices requiring chipsets. Samsung’s chip division saw upticks in operating profit and revenue. Continue reading Samsung Profits, Revenues Climb with Semiconductor Sales

In Q2 2021, social giant Facebook’s profit doubled from a year earlier to $10.39 billion and revenue rose 56 percent to $29.08 billion, both numbers beating Wall Street expectations. Shares fell 3+ percent in after-hours trading, however, when Facebook predicted that revenue growth will slow for the rest of the year. Through the end of Q2, its stock has grown 22 percent. The company also said that Apple’s privacy changes in the new iOS will have a stronger impact in the current quarter as more users update their iOS devices. Meanwhile, Facebook continues to eye its metaverse future. Continue reading Facebook Posts Strong Earnings, Plans Its Metaverse Future

Twitter recently launched its Shop Module pilot, a new feature that will let businesses add a shopping section to their profiles. The feature, introduced initially in the U.S., allows a dozen retailers — including GameStop Corp. and Arden Cove — to market up to five products at the top of their Twitter profiles. Users can swipe between products and purchase them in an in-app browser without having to leave Twitter. With Shop Module, Twitter has revived its e-commerce activity after abandoning the “Buy Now” button debuted in 2015. Continue reading Twitter Revisits E-Commerce with New Shop Module Feature

Spotify Technology saw its advertising revenue more than double during the quarter ending June 30, but its audio streaming service added fewer total users than expected. Spotify chief executive Daniel Ek noted that, “while I’m disappointed that our [user] growth was softer in the last half of Q1 and the first half of Q2, the good news is that we’ve seen that trend line reverse, and all the leading indicators I’m seeing show that we are back on track.” At the end of the quarter, Spotify had 365 million monthly active users, a 22 percent bump year-over-year. Continue reading Spotify Increases Its Ad Revenue While User Growth Is ‘Soft’

The COVID-19 pandemic has reaped rewards for Big Tech companies that benefitted from the shift to remote working and learning. Apple earned $21.7 billion in profit for the quarter that ended in June, the most successful quarter in the company’s 45-year history, while Alphabet and Microsoft also enjoyed strong quarterly earnings. Apple’s revenue rose 36 percent from the same period a year earlier to $81.4 billion, exceeding Wall Street expectations. Apple is on track to earn $86 billion for the fiscal year, according to FactSet analysts. Continue reading Apple Just Earned Its Biggest Profit in the Company’s History

In Q2 2021, Google recorded its highest quarter ever for sales and profits: revenue of $61.88 billion, up 62 percent year-over-year; profit that more than doubled to $18.53 billion; advertising sales of $50.44 billion, a 69 percent surge, and YouTube ad business reaching $7 billion, up 84 percent from a year earlier. The numbers, which exceeded Wall Street expectations, were driven by e-commerce, streaming video and other online business and entertainment activities that surged during the COVID-19 pandemic, driving online advertising. Continue reading Google Reports Its Highest Quarter Ever for Sales and Profits

Microsoft experienced a successful quarter, due in large part to significant growth in Azure cloud services. The company reported overall Q4 sales of $46.2 billion, up about 21 percent year-over-year, for a $16.5 billion profit, an increase of 47 percent year-over-year. Similar to other Big Tech companies, Microsoft’s numbers exceeded Wall Street expectations. According to chief financial officer Amy Hood, Microsoft expects overall sales of $44.2 billion for the current quarter. Microsoft’s stock is currently up 40 percent over the last year, and its valuation is now $2+ trillion, second only to its rival Apple. Continue reading Azure Drives Impressive Quarterly Sales, Profits for Microsoft

Samsung has partnered with CJ ENM, a major Korean entertainment media production company to build a virtual production facility in South Korea. CJ ENM, which previously inked a deal with Epic Games to use its Unreal Game engine, will rely on Samsung’s next-generation MicroLED display, also known as “The Wall.” The facility will open later this year in Paju, Gyeonggi Province. Because of the savings offered to film and television via virtual production, the Göteborg Film Festival predicted it will be the norm in filmmaking in five years. Continue reading Korean Virtual Production Stage Features Samsung’s The Wall

The recently launched HTC Vive Pro 2 VR headset offers a sharp 5K 120Hz desktop virtual reality experience. Priced at $1,399 for the entire package — and $799 for the headset alone (for those who invested previously in the Vive Pro or Valve Index) — the Vive Pro 2 retains the same design as the 2018 model and relies on older controllers but offers a wide range of attractive features for gamers. The 2,448 x 2,448 pixels per eye is a dramatic improvement over the previous Pro’s 1,440 x 1,600 pixels, which also offered a slower 90Hz refresh rate. Its LCDs also have RGB sub-pixels for increased sharpness. Continue reading HTC Vive Pro 2: 5K 120Hz VR for Enterprise, Serious Gamers

During the COVID-19 pandemic, QR codes that allow customers to order and pay for food and drinks caught on in restaurants and appear to be here for good. Retail chains including CVS and Foot Locker have also added them as have marketers. Because QR codes can store digital information and open an app or website that tracks peoples’ personal information, they’re ideal for vendors looking to create their own customer databases. Consumers will soon be served customized offers marketed within QR code payment systems. Continue reading Pandemic Fosters Wider Adoption of QR Codes and Tracking

President Biden, who named Big Tech critic Jonathan Kanter to lead the Justice Department’s antitrust division last week, has assembled a strong antitrust team to address concerns about the dominant strength and influence of major tech companies across industries including pharmaceuticals, agriculture, healthcare, commerce and finance. If confirmed by the Senate, Kanter will join the Federal Trade Commission’s chairperson Lina Khan, who is known for her work in antitrust and competition law, and Tim Wu, a long-time advocate of breaking up Big Tech who is now Biden’s special assistant for technology and competition policy. Continue reading Biden Assembles a Tough Antitrust Team to Rein In Big Tech

Experts have warned that the semiconductor shortage will endure, and now Intel chief executive Pat Gelsinger has added his voice with the prediction that the shortage could stretch into 2023. Volkswagen also cautioned that the shortage may get worse in the next six months. The chip shortage is not only causing production delays in the auto industry but raising prices for consumer electronics. Gelsinger said it could take one or two years to achieve a “reasonable supply-and-demand balance.” “We have a long way to go yet,” he suggested. Continue reading Intel Chief Warns the Chip Shortage Could Last Through 2023

Amazon and Microsoft dominate cloud computing but more businesses are leveraging smaller cloud rivals such as Google, Oracle and IBM. Experian, for example, launched with Amazon Web Services (AWS) in 2014, but is now using Microsoft, Google and Oracle, according to Experian global chief enterprise architect Mervyn Lally. At Oracle Cloud Infrastructure, executive vice president Clay Magouyrk said that more customers “adopt a multi-cloud strategy simply because some workloads run better or more cost-effectively on different clouds.” Continue reading Multi-Cloud Strategy Over a Single Provider Gains Momentum

AT&T reported advances made by HBO in Q2 2021: a net gain of 2.85 million total domestic HBO Max and HBO subscribers, including 2.38 million retail net additions, for a total of 47.0 million at the end of the period, representing a gain of 10.7 million over the last year in the United Sates. HBO and HBO Max counted 67.5 million customers worldwide, up 12 million from last year. AT&T chief financial officer Pascal Desroches noted that the numbers exceeded Wall Street forecasts as well as AT&T’s own expectations. Continue reading HBO and HBO Max Subscriber Numbers Exceed Expectations