Post by Dave on Aug 5, 2020 1:13:11 GMT -8
Good Wednesday morning. In early pre-market it is green at +$2.64 at this moment.
Sharp reports 38% drop in first-quarter operating profit, beats analyst estimates
Apple, Amazon and Google Are All Pretty Bulletproof
Sharp reports 38% drop in first-quarter operating profit, beats analyst estimates
TOKYO (Reuters) - Japan's Sharp Corp on Wednesday reported a 37.8% drop in first-quarter operating profit as the coronavirus pandemic weighed on sales of electronics devices and office printers.
The maker of sensors, camera modules and screens for Apple Inc's iPhones posted an operating profit of 9 billion yen ($85.2 million) for the April-June quarter, down from 14.61 billion yen a year earlier.
The result topped the 28.6 million yen average of seven analyst estimates compiled by Refinitiv.
Sharp forecast a rise in operating profit for the year though March 2021 of 55.4% to 82 billion yen, versus a consensus analyst estimate of 53.30 billion, thanks to strong demand for home appliances from people staying at home.
Sharp, a unit of Taiwan's Foxconn, has said it will spin off its low-margin liquid crystal display and camera module businesses, both of which have Apple as a client.
The maker of sensors, camera modules and screens for Apple Inc's iPhones posted an operating profit of 9 billion yen ($85.2 million) for the April-June quarter, down from 14.61 billion yen a year earlier.
The result topped the 28.6 million yen average of seven analyst estimates compiled by Refinitiv.
Sharp forecast a rise in operating profit for the year though March 2021 of 55.4% to 82 billion yen, versus a consensus analyst estimate of 53.30 billion, thanks to strong demand for home appliances from people staying at home.
Sharp, a unit of Taiwan's Foxconn, has said it will spin off its low-margin liquid crystal display and camera module businesses, both of which have Apple as a client.
Apple, Amazon and Google Are All Pretty Bulletproof
(Bloomberg Opinion) -- Europe has the motivation, but not the means, to break up Big Tech. For the U.S., the inverse is true. That’s bad news for anyone hoping for a full regulatory reckoning with Silicon Valley’s and Seattle’s giants over their monopolistic tendencies.
Washington lawmakers see their job as protecting the consumer first and foremost, while Brussels wants to make sure other companies are allowed to compete with the incumbents. Sadly for Europe, the Americans have all the power but their approach is unlikely to produce radical change (as my Opinion colleague Tara Lachapelle wrote this week).
Washington lawmakers see their job as protecting the consumer first and foremost, while Brussels wants to make sure other companies are allowed to compete with the incumbents. Sadly for Europe, the Americans have all the power but their approach is unlikely to produce radical change (as my Opinion colleague Tara Lachapelle wrote this week).