Reuters | |

(Reuters) - Google parent Alphabet Inc’s quarterly sales fell for the first time in its 16 years as a public company, but the decline was less than expected as many advertisers stuck with the most popular online search engine during the pandemic.

Shares of Alphabet rose 1.2% to $1,557.81 after it released second-quarter results. The stock had rebounded early Thursday to this year’s pre-pandemic high of about $1,525.

With its mostly free tools for web browsing, video watchi...

Reuters | |

Facebook Inc beat analysts’ estimates for quarterly revenue on Thursday, as businesses used its digital advertising tools to tap a surge in online traffic during the coronavirus pandemic even as they slashed marketing budgets elsewhere.

Shares of the world’s biggest social network jumped more than 8% in extended trading.

Revenue growth was its slowest ever as a public company, reported at 11%, although it beat analysts’ expecta...

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United Parcel Service Inc exceeded analyst estimates for quarterly profit and revenue on Thursday as pandemic-fueled rises in lucrative healthcare and air shipments helped offset a margin squeeze from surging e-commerce home deliveries, sending shares up as much as 17.6%.

The novel coronavirus outbreak has disrupted operations at UPS and other large delivery firms - accelerating shipments of everything from fac...

Reuters | |

By Nishara Karuvalli Pathikkal

(Reuters) - ConocoPhillips reported a wider-than-expected loss on Thursday, as coronavirus-induced lockdowns sapped demand for fuel and crushed crude prices, sending shares of the world’s largest independent oil and gas producer down nearly 9% this morning before recovering about half of those losses.

The pandemic brought travel and other businesses to a halt under lockdowns and led to a glut of oil and gas, forcing widespread output cuts by bl...

Reuters | |

Mastercard Inc’s quarterly profit beat analyst estimates on Thursday, as lower costs helped dull the blow from fewer people using the payment processor’s cards during the novel coronavirus pandemic.

The outbreak has hit large parts of the global retail industry as stores remain shut and shoppers stay at home to avoid catching the highly contagious illness.

Travel bans around the world have taken a toll on payment processors, with Mastercard repor...

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China’s Huawei Technologies snatched the title of biggest smartphone seller from Samsung Electronics in the second quarter, underscoring the resilience of the China market even as global demand for phones plunged amid the pandemic.

Huawei shipped 55.8 million devices in the April-June period, trumping Samsung’s 53.7 million, according to data from research firm Canalys.

The Chinese company has felt the heat of U.S. sanctions tha...

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Nestlé​ struck a more optimistic note than peers on Thursday, forecasting 2-3% underlying sales growth this year as demand for high-end pet food and health products helped it eke out growth in the second quarter.

Rivals Danone and Unilever posted a fall in quarterly sales and gave no outlook for the year because of the novel coronavirus.

The world’s largest food manufacturer’s previous guidance for 2020 sales growth “above 3.5%...

Reuters | |

Samsung Electronics Co Ltd said on Thursday it expects a further pick-up in chip demand in the second half of the year, driven by new smartphone launches, but warned the coronavirus pandemic and trade disputes pose risks.

Samsung, the world’s top maker of memory chips and smartphones, posted a 23% jump in operating profit in the April-June quarter on the back of strong DRAM chip sales.

Reuters | |

Qualcomm Inc on Wednesday reported fiscal third quarter GAAP earnings of $0.74 per share (non-GAAP $0.86) on $4.9 billion in revenue, ahead of estimates.

Qualcomm, which generates most of its profits by licensing its technology to mobile phone makers and others, said licensing revenue in the segment was $1 billion, well above estimates of $851 million, according to FactSet.

Revenue from its chip segment - its largest by sales - was $3.80 billion, compared with estimates of $3.90 billion.

AP News | |

Wall Street rallied on Wednesday, and the S&P 500 climbed 1.2% for its best day in two weeks after the Federal Reserve kept the accelerator floored on its support for the economy.

U.S. stocks began rising as soon as trading opened, and momentum picked up after the Fed said in the afternoon that it will keep interest rates at their record low as the economy struggles through the recession created by the coronavirus pandemic.