EUR/USD 1.17051
0.003%
Gold 4729.00
-0.235%
Oil 91.549
-0.444%
USD/JPY 159.482
0.004%
GBP/USD 1.34991
-0.025%
GBP/JPY 215.291
0.005%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 23, the Bank of Korea stated on Thursday that global demand for artificial intelligence technology drove export growth, resulting in a strong rebound in the South Korean economy at the beginning of the year. The countrys GDP grew by 1.7% quarter-on-quarter in the first quarter of this year, reversing the contraction expected in the fourth quarter of 2025 and marking the fastest growth since the third quarter of 2020. This figure exceeded the consensus forecast of 0.9% in institutional surveys and even surpassed the most optimistic predictions. Data showed that chip exports increased by 139.1% year-on-year in the first quarter, more than double the growth rate of the previous quarter, with overall export growth reaching its highest monthly rate since 2021. Construction investment and equipment investment grew by 2.8% and 4.8%, respectively. However, risks remain for the South Korean economy, whose growth momentum has been volatile in recent quarters. Consumer confidence fell to a 10-month low in March as the war with Iran cast a shadow over growth and price prospects.On April 23, White House National Economic Council Director Hassett expressed support for Federal Reserve Chairman Powells plan—to remain as Fed chairman temporarily if his successor is not confirmed by the Senate by the end of his term in May. Hassett stated on Wednesday, "I think this is the proper legal understanding." Trump has nominated Warsh to succeed Powell, but Republicans currently do not have enough votes to move the nomination from the Senate Banking Committee to the Senate for confirmation. Republican Senator Thom Tillis indicated he would postpone the vote until the Justice Department ceases its alleged "sham" investigation into cost overruns in the Fed building renovation project. Speaking about Warsh, Hassett said, "We are very confident that he will become chairman in the appropriate time. I believe there will be discussions about how to proceed."SK Hynix: Storage efficiency technology is expected to expand the overall market; for server chips, the demand base for both DRAM and NAND is expanding; demand for PC/smartphone chips is showing some signs of weakness.1. WeChat Pay integrates QR codes from five countries. 2. TSMC showcases next-generation chip technology to bypass ASMLs expensive new equipment. 3. Li Auto denies involvement in smuggling: has never participated and will assist police investigation. 4. Tencent and Alibaba reportedly in talks to invest in DeepSeek, potentially valuing the company at over $20 billion. 5. Google Cloud AI usage reaches 16 billion tokens per minute. 6. Strong demand for memory chips drives SK Hynixs quarterly profit up 406%. 7. Nvidia participates in Vast Datas latest funding round, raising its valuation to $30 billion. 8. Teslas Q1 revenue slightly missed expectations, but free cash flow and gross margin exceeded expectations. 9. SK Hynix will invest 19 trillion won to build a new chip factory. The advanced packaging plant will begin construction in April. On April 23, SK Hynix of South Korea reported a 406% increase in quarterly profit, driven by strong demand for advanced and traditional memory chips fueled by the artificial intelligence boom. The Nvidia supplier reported operating profit of 37.6 trillion won ($25.42 billion) for the January-March period, up from 7.4 trillion won in the same period last year, and in line with analysts forecasts of 37.9 trillion won.

Oracle Sales And Earnings Exceed Forecasts Amid Cloud Surge

Aria Thomas

Jun 14, 2022 11:50

14.png


Oracle Corp surpassed Wall Street projections for quarterly profit and sales on Monday, as demand for its cloud products surged in tandem with the industry-wide transition to cloud-based systems.


In extended trading, shares of the Austin, Texas-based corporation whose fourth-quarter sales increased by 5 percent soared by almost 12 percent.


Safra Catz, chief executive officer of Oracle (NYSE:ORCL), stated in a statement, "We think this revenue growth increase signals that our infrastructure business has entered a hyper-growth period."


Oracle, which projected a currency headwind of 5% in the fourth quarter, up from 2% to 3% in the third quarter, forecasts significant revenue growth in its cloud business despite growing inflation and a higher dollar.


Microsoft (NASDAQ:MSFT) in April and Salesforce (NYSE:CRM) Inc in May signaled a solid future for the cloud industry as corporations raise expenditure, but Microsoft reduced its fourth-quarter profit and sales prediction earlier this month owing to unfavorable currency exchange rates.


Oracle predicted a quarterly loss of $100 million in fiscal year 2023 due to the suspension of services in Russia.


However, the business anticipates first-quarter sales growth between 17 and 18 percent, thanks to its $28 billion purchase of healthcare IT provider Cerner Corp. (NASDAQ:CERN).


Oracle's prediction was released on a day when U.S. stock markets plummeted, with the S&P 500 confirming it was in a bear market, as investors feared that aggressive interest rate rises by the Federal Reserve may drive the country into recession.


The business anticipates adjusted first-quarter EPS between $1.04 and $1.08, compared to the average analyst expectation of $1.13.


According to IBES statistics from Refinitiv, revenue for the fourth quarter ended May 31 increased to $11.84 billion, above analysts' average forecast of $11.66 billion.


Excluding adjustments, the company's earnings per share were $1.54, above analysts' predictions of $1.37.


Suggestion