Sprint Nextel made a net loss of US$1.6 billion for the second quarter, swollen by the cost of shutting down its Nextel wireless network, but the company is more optimistic about future profitability.
Tech earnings this week highlighted the importance of mobile communications to IT, as companies including Apple, Samsung, Facebook, AT&T and Texas Instruments reported mixed results for the quarter ending in June.
Indian outsourcer Wipro grew revenue and profits in the second quarter, citing improved demand.
French telecommunications operator Orange reported a sharp fall in net profit for the first half, with as revenue declined year on year too.
Facebook's revenue rose 53 per cent during the second quarter amid continued gains in mobile advertising revenue share, the company reported.
Anyone who watches Apple knows how closely the company holds its secrets. No matter what the subject, the company only speaks when it has something to say.
Apple reported a drop in profits on roughly flat revenue for the April to June quarter, though the results were ahead of analysts' expectations, providing something of a silver lining for the company.
AT&T posted higher revenue and profit in the second quarter, with gains in its mobile unit offsetting flat wireline revenue.
Though software sales provided a ray of light in otherwise mixed results this week, gloom settled over the tech sector Friday in the wake of bellwether IT quarterly earnings reports.
Microsoft closed its fiscal year with a less-than-stellar earnings report, missing Wall Street's revenue and profit expectations and taking a gigantic charge related to its Surface RT tablet sales.
Advanced Micro Devices hopes to turn around its financial struggles in the third quarter, saying it will record significant revenue growth and return to profit after reporting a loss and drop in revenue during the second quarter.
Google's second-quarter revenue increased by 19 percent to about US$14 billion, aided by consumers' shift to mobile devices, the company announced Thursday.
Tata Consultancy Services reported strong revenue and profit growth in the second quarter as demand for its services picked up in key markets like the U.S. and Europe.
Verizon Communications has reported a revenue increase of 4.3 percent for the second quarter of 2013, compared to a year ago, with mobile and Fios broadband customers additions driving the growth.
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