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Lenovo quarterly sales fall 6%, net profit improves
2016-08-18 08:46:00| Telecompaper Headlines
(Telecompaper) Lenovo reported revenues down 6 percent year-on-year in its fiscal first quarter to June to USD 10.1 billion, hurt by the slowdown in the PC and smartphone markets. Gross profit fell 7 percent to USD 1.5 billion, giving a margin of 15.3 percent, while net profit increased 64 percent to USD 173 million, thanks to cuts to operating costs.
Cisco confirms plans for 5,500 job cuts, Q4 sales fall 2%
2016-08-18 08:23:00| Telecompaper Headlines
(Telecompaper) Cisco reported revenues for its fiscal fourth quarter to July down 2 percent year-on-year to USD 12.6 billion. Excluding the sale of its set-top box business, revenue was up 2 percent from a year ago. Net profit jumped 21 percent to USD 2.8 billion, and EPS increased 24 percent to USD 0.56. Cisco also confirmed that it plans another round of restructuring in order to lower its cost base and reinvest the savings in priority areas such as security, IoT, collaboration, data centre and cloud. The restructuring will eliminate up to 5,500 positions, or around 7 percent of its global workforce.
Japan shares fall as exports mark a tenth monthly decline
2016-08-18 03:11:28| BBC News | Business | UK Edition
Japanese share markets are falling after data showed exports fell for a tenth consecutive month and continue to drag on economic growth.
Barnes & Noble shares fall after boss sacked
2016-08-17 19:44:43| BBC News | Business | UK Edition
US bookstore chain Barnes & Noble sacks its chief executive Ronald Boire for not being a "good fit" with the company, sending its share price falling.
China Unicom H1 results fall on tower costs, slow 4G take-up
2016-08-17 11:44:00| Telecompaper Headlines
(Telecompaper) China Unicom reported a fall in first-half results, as the operator struggles to keep up in the emerging 4G mobile market in China. The company's operating revenues fell 3.1 percent to CNY 140.26 billion, and EBITDA was down 18.2 percent year-on-year to CNY 41.28 billion. The EBITDA margin dropped by 8.1 percent points to 33.9 percent. In line with Unicom's earlier profit warning, net profit for the six months declined 79.6 percent to CNY 1.43 billion.
Tags: results
china
fall
costs
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