Qualcomm profit tops estimates on higher modem chip sales

Qualcomm profit tops estimates on higher modem chip salesThe results announced on Wednesday, particularly in Qualcomm's smartphone chip business, were in contrast to those from major mobile phone components makers in Asia including TSMC <2330.TW> and SK Hynix Inc <000660.KS>, which have warned of slower growth in their smartphone chip divisions. While revenue from Qualcomm's modem chips business - its largest - rose 6 percent in the three months ended March 25, revenue from its licensing business plunged 44 percent, reflecting the loss of revenue due to a high-profile patent battle with Apple Inc (AAPL.O). Qualcomm said it sees about 5 percent growth in modern mobile handsets for the remainder of the year, which is lower than anticipated.


AT&T Inc. Shares Slide on Q1 Earnings Miss

AT&T Inc. Shares Slide on Q1 Earnings MissAT&T Inc. (NYSE:T) posted its latest quarterly earnings results after hours Wednesday, which missed analysts’ expectations. Its revenue tallied up to $38.04 billion, below the $39.31 billion that analysts were projecting in their consensus estimate. AT&T added 187,000 linear video subscribers during the period, while AT&T added 312,000 subscribers to its streaming service DirecTV Now.


Ford accelerates cost-cutting plan, will drop most U.S. sedans

Ford accelerates cost-cutting plan, will drop most U.S. sedansFord Motor Co (F.N) on Wednesday outlined a plan to cut costs and boost profit margins at a faster pace than previously announced, which includes dropping traditional sedan models in North America that have become increasingly unpopular with consumers. Ford Chief Executive Jim Hackett told investors the company is undergoing "a profound refocus" of its operations and may exit unprofitable businesses. Ford said it expects pretax profit margins of 8 percent globally and 10 percent in North America by 2020, ahead of a previous target of 2022.


Boeing defers Iran deliveries, eases output concerns

Boeing defers Iran deliveries, eases output concernsBoeing has found new homes for jets it hoped to deliver to Iran this year, further clouding the prospect of quick deliveries as U.S. President Donald Trump considers whether to withdraw from a pact to remove nuclear-related sanctions. The head of the U.S. planemaker also signaled on Wednesday that Boeing is no longer as concerned as it once was that a collapse of the deal could force it to cut production of the 777 jetliner, threatening hundreds of jobs, due to a pickup in demand. "We have no Iranian deliveries that are scheduled or part of the (production) skyline this year, so those have been deferred in line with the U.S. government process," Boeing Chief Executive Dennis Muilenburg said in a conference call.


Visa tops profit estimates, raises full-year earnings forecast

Visa tops profit estimates, raises full-year earnings forecastThe world's largest payments network, like its smaller rival Mastercard Inc (MA.N), gets most of its revenue through transaction fees, which are earned every time a customer swipes their credit or debit card on the company's network. Visa has seen card payments grow thanks to higher U.S. consumer spending and rising oil prices. Higher gas prices translate to a higher dollar volume in transaction fees for Visa.