Kim Jaewon / Nikkei Asia:
Samsung says its Q3 profit dropped 31.7% YoY to $7.7B amid inflation and estimates that revenue for Q3 increased 2.7% to about $53B — South Korean tech company may suffer poor earnings in coming quarters — SEOUL — Samsung Electronics said Friday that its operating profit likely fell …
Cheng Ting-Fang / Nikkei Asia:
Huawei licenses key 5G tech to Oppo, amid a US crackdown, and says it has patent cross-licensing deals with 20 companies, including extended deals with Samsung — Chinese tech giant keen to make the most of its trove of intellectual property — PHOENIX, U.S. — Huawei Technologies …
Josh Ye / Reuters:
Lenovo reports Q2 revenue down 4% YoY to $17.09B, above estimates, the first decline in 10 quarters as pandemic-fueled global PC demand weakens — China’s Lenovo Group (0992.HK) reported its first revenue decline in 10 quarters as a pandemic-fuelled computer sales boom comes to an end …
Kif Leswing / CNBC:
Block Q3: revenue up 17% YoY to $4.52B, vs. $4.49B est., gross profit up 38% YoY to $1.57B, vs. $1.53B est., and Cash App gross profit up 51% YoY; stock up 12%+ — – Block stock rose in extended trading after the payments company reported third-quarter earnings that beat Wall Street expectations for profit.
Ryosuke Eguchi / Nikkei Asia:
Japanese chipmaker Kioxia Holdings and US’ Western Digital open a new ~$6.79B flash memory fab in Mie Prefecture, amid a market downturn for memory chips — Chipmaker opts for production cut but bullish on facility investment — TOKYO — Japanese chipmaker Kioxia Holdings on Wednesday opened …
Jordan Novet / CNBC:
Adobe reports Q4 revenue up 10% YoY to $4.53B, Digital Media revenue up 10% YoY to $3.3B, and Digital Experience revenue up 14% YoY to $1.15B; stock is up 5%+ — – Adobe maintained its forecast for the new fiscal year. — The company’s earnings for the fiscal fourth quarter was strong …
Cissy Zhou / Nikkei Asia:
Chinese regulators approve paid games from Tencent and NetEase for the first time since July 2021, as part of granting 73 games licenses — Beijing gives nod to licenses as it gradually loosens crackdown on tech sector — HONG KONG — Tencent Holdings and NetEase, two of China’s biggest …
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