Microsoft revenue beats as remote work boosts Teams
(This April 29 story corrects number of Xbox Live users in paragraph 6 to 90 million monthly active users not 19 million active users; and corrects description in paragraph 8 to say daily active Teams)
Wall Street rallies on promising coronavirus drug
U.S. stocks surged on Wednesday as hopes for an effective COVID-19 treatment prompted a broad rally and helped investors shrug off bleak GDP data and words of warning from U.S. Federal Reserve Chair Jerome Powell.
VW, Toyota delay U.S. production restart, citing supplier concerns
Volkswagen AG and Toyota Motor Corp said on Wednesday they will delay restarting U.S. production amid the coronavirus pandemic and concerns about the automotive supply network.
Qualcomm forecasts upbeat revenue as 5G demand mitigates virus impact
Qualcomm Inc on Wednesday forecast current-quarter revenue largely in line with expectations as it signed more contracts for 5G phones, which use higher-priced chips, at a time when the COVID-19 pandemic has disrupted production channels and led to a …
U.S. economy faces hard slog back from pandemic, Fed chief says
The head of the Federal Reserve on Wednesday dashed lingering hopes for a fast rebound from the coronavirus pandemic, saying the U.S. economy could feel the weight of consumer fear and social distancing for a year or more in a prolonged climb from a de…
Austria says it might demand Lufthansa stake for Austrian Airlines aid
Austria might demand a stake in Lufthansa in exchange for granting emergency aid to the German flag carrier’s unit Austrian Airlines, the country’s conservative chancellor, Sebastian Kurz, said on Wednesday.
Microsoft revenue beats as remote work feeds cloud demand, boosts Teams
Microsoft Corp reported quarterly revenue above Wall Street estimates on Wednesday, boosted by higher demand for its cloud platform Azure and collaboration app Teams, and as people locked in their homes due to the pandemic played more games on Xbox co…
Facebook, beating revenue estimates, sees signs of stability in ad spending
Facebook Inc beat analysts’ estimates for quarterly revenue on Wednesday and said it has seen “signs of stability” for sales in April after a plunge in March, in yet another indication that tech giants may weather the coronavirus-induced economic coll…
Tesla’s profit streak not derailed by coronavirus as auto industry braces for losses
Tesla Inc on Wednesday posted its third quarterly profit in a row, but said the novel coronavirus was hurting deliveries and lockdown restrictions made it impossible for the electric carmaker to provide guidance for the full year.
EBay sees current-quarter revenue above view as more people shop online
EBay Inc forecast current-quarter revenue above Wall Street estimates on Wednesday, as the e-commerce company benefited from a surge in online orders with people staying indoors because of the COVID-19 pandemic.
