In related news

  • Apple reports slumping iPhone sales as global demand weakens

    iPhone sales fell 10% compared with the same time period last year, but the company still beat Wall Street’s expectationsApple released its earnings report on Thursday, revealing a drop in overall revenue fueled by slackening iPhone sales.Earnings exceeded market expectations, however, and Apple’s shares rose in after-hours trading. Tim Cook, Apple’s chief executive, said in a statement released before the call that “Apple is reporting revenue of $90.8bn for the March quarter, including an...

  • First Solar Posts Higher Quarterly Profit on Strong Demand

    (Reuters) - First Solar reported higher first-quarter profit on Wednesday compared to the same period last year, helped by resilient demand for solar energy.The company reported a net profit of $236.6 million, or $2.20 per share, for the three months ended March 31, compared to $42.5 million, or 40 cents per share, in the same period last year.Analysts expected an average of $1.99 per share, according to LSEG data.The U.S. solar market has seen significant momentum since last year, helped by...

  • Starbucks reports surprise drop in quarterly sales as demand falls

    With demand falling across the board, Starbucks reported a fall in same-store sales for the first time in nearly three years, sending its shares down 8% in extended trading. "In a highly challenged environment, this quarter's results do not reflect the power of our brand," CEO Laxman Narasimhan said. Demand in the United States decelerated for a second straight quarter as boycott movements impacted traffic at its stores, while a choppy macro environment weighed on demand for its pricier...