(AOF) – Bye
Wall Street-listed Chinese internet giant Baidu posted a 2% third-quarter turnover increase to 4.43 billion euros. Its operating profit was $747 million. Baidu Core’s revenue rose 2% year-over-year to $3.55 billion thanks to Additionally, its online marketing revenue was $2.63 billion, down 4% year-over-year but up 10% from the second quarter.
US consumer electronics giant Best Buy reported net profit of $277 million, or $1.22 a share, up from $499 million, or $2 a share, a year earlier. For the quarter, the group reported adjusted EPS down a third to $1.38, operating margin down 1.9 points to 3.9% on revenue of $10.6 billion, down 10.4%. Following better-than-expected results in its third quarter, the group is raising its annual targets.
Dell Technologies has released its third quarter financial results. Revenue was $24.7 billion, down 6%. Operating income was up 68% to $1.8 billion, representing 7.1% of revenue, and non-GAAP operating income was $2.4 billion, up 22%, representing 9.6% of revenue. Net income from continuing operations was $241 million.
Chinese e-commerce giant JD.com has announced it will cut the salaries of more than 2,000 senior executives by 10% to 20% next year as part of the government’s “public prosperity” campaign. The e-commerce giant made the announcement in an internal letter, which was circulated online and reported by local media.
Zoom in on video contacts
Zoom Video Communications revenue rose 5% to $1.1 billion in the third quarter. The San Jose-based Californian company posted a net profit of more than $48 million. The group now expects revenue of up to $4.38 billion, up from $4.4 billion previously. For the quarter, adjusted EPS was $1.07. Its net cash from operating activities was $295.3 million versus $394 million a year ago.
Get our latest news
Every morning, information to remember Financial markets.