Tata Consultancy Services on Friday reported strong revenue and profit growth in the third quarter, citing a pick-up in discretionary spending by customers.
Confidence in the tech sector appears to be recovering on strong results from Tibco and Red Hat and optimism about the economy, after sinking earlier this week in the wake of a disappointing report from Oracle.
Oracle's net income for the second quarter ended Nov. 30 rose 17 percent to US$2.2 billion, with software sales rising but hardware-related revenue falling, the company reported Tuesday. Revenue for the quarter rose 2 percent to $8.8 billion.
Buoyed by strong subscription revenue, open-source software company Red Hat reported on Monday strong net income and revenue gains for the third quarter of its fiscal year 2012.
Research In Motion said it won't start selling phones with its new software platform until the "later part" of 2012 and had to take a US$485 million inventory-related charge on its PlayBook tablet as part of another poor earnings report for the strug...
Intel warned on Monday that fourth-quarter revenue will be lower than anticipated due to a hard-drive shortage. The chip maker now anticipates quarterly revenue of US$13.7 billion, down from a previous n estimate of $14.7 billion.
After several days of gains, tech stocks dropped Thursday as markets declined on disappointing news from Europe, where government officials are meeting to try to solve the sovereign debt crisis afflicting several countries in the euro area.
Tech stocks looked strong Friday morning on the back of a week of upbeat surveys on small business and online spending, positive news about enterprise hardware and hopeful reports on U.S. employment and the European debt crisis.
Hewlett-Packard continues to struggle with leadership and business changes, reporting on Monday that fourth quarter net earnings dropped 91 percent over last year.
Computer stocks sagged Friday morning in the wake of continuing economic worries and mixed financial news from hardware and software vendors this week.
Wi-Fi infrastructure vendor Aruba Networks will buy Avenda Systems to expand its network security offerings and help enable BYOD (bring-your-own-device) strategies in enterprises.
Dell has reported a small dip in revenue for the third quarter, owing to weaker consumer demand for PCs, but recorded an increase in earnings.
With Nvidia and Cisco reporting results, there was some good news on the chip and networking front this week that, with the help of a successful debt offering by Italy that eased economic concerns, helped fuel a rise in IT vendors' shares Friday morn...
Cisco Systems has completed most of a major restructuring that began early this year, and on Wednesday posted revenue and profit for its fiscal first quarter that exceeded analysts' expectations.
An investigation by the US Securities and Exchange Commission has been expanded to include Computer Sciences Corp.'s business in Australia, the company said on Wednesday.
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