Latest news with #HarshitaMaryVarghese
The Star
2 days ago
- Business
- The Star
EchoStar prepares potential bankruptcy filing amid FCC review, WSJ reports
FILE PHOTO: A satellite model is placed on EchoStar Satellite Services logo in this picture illustration taken April 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -EchoStar is considering a Chapter 11 bankruptcy filing as the telecommunications services firm vies to shield its cache of wireless spectrum licenses from the threat of revocation by federal regulators, the Wall Street Journal reported on Friday, citing people familiar with the matter. The company declined to comment on the report. Last month, the Federal Communications Commission (FCC) notified EchoStar it was investigating the company's compliance with certain federal obligations to provide 5G service in the U.S., questioning EchoStar's buildout extension and mobile-satellite service. FCC's actions have severely limited the company's ability to make strategic decisions regarding the growth and investment of its Boost Mobile business, according to a regulatory filing by the company last month. EchoStar has previously disclosed that it missed roughly $500 million in interest payments, citing uncertainty around the ongoing FCC review. U.S. satellite TV provider DirecTV terminated its agreement to acquire EchoStar's satellite television business last year, which includes rival Dish TV, over a failed debt-exchange offer. (Reporting by Harshita Mary Varghese and Devika Nair in Bengaluru; Editing by Alan Barona)
Time of India
2 days ago
- Business
- Time of India
Broadcom rides on AI chip demand to deliver upbeat revenue forecast
By Harshita Mary Varghese and Max A. Cherney Broadcom forecast third-quarter revenue above Wall Street estimates on Thursday, betting on strong demand for its networking and custom AI computing chips. However, the company's shares fell 4% in extended trading, after gaining about 12% this year, as the forecast failed to impress investors who have bet heavily on chip stocks, anticipating substantial growth driven by advancements in generative AI technology . Broadcom forecast third-quarter revenue of around $15.80 billion, compared with analysts' average estimate of $15.71 billion, according to data compiled by LSEG. "Clearly, expectations were high coming into the print with the stock rising almost 30% in the past month," said Kinngai Chan, senior research analyst at Summit Insights Group. Broadcom, a key player in the AI hardware ecosystem, helps design custom processors that are highly specialized integrated circuits designed for AI and cloud computing companies such as OpenAI and Google. The Palo Alto, California-based company has begun shipping its latest networking chip, the Tomahawk 6, designed to accelerate AI workloads. The networking chip doubles the performance from its predecessor and significantly improves the efficiency of bits flying across data center networks. "We expect growth in AI semiconductor revenue to accelerate to $5.1 billion in Q3, delivering ten consecutive quarters of growth, as our hyperscale partners continue to invest," Broadcom CEO Hock Tan said. Non-AI semiconductor revenue is close to the bottom and has been relatively slow to recover, Tan said on a post-earnings call. Revenue from Broadcom's semiconductor segment, which supplies products for data centers and networking, rose 16.7% to $8.41 billion in the second quarter. The company reported quarterly revenue of $15 billion, compared with estimates of $14.99 billion.
Yahoo
06-05-2025
- Business
- Yahoo
Datadog lifts annual revenue forecast on AI-driven cloud security demand
(Reuters) -Cloud security firm Datadog raised its annual revenue forecast and beat the estimate for quarterly sales on Tuesday, thanks to growth in large customers and AI-driven workloads. The company has benefited significantly from the increased adoption of artificial intelligence technologies, which has driven strong demand for its cloud monitoring and security platform. On Monday, Datadog acquired Eppo, a feature flagging and experimentation platform, to expand its AI and product analytics offerings, aiming to help customers build products faster and with less risk. "We are innovating rapidly across the Datadog platform, to help customers observe, secure, and act to solve mission-critical business problems in their modern, cloud environments," CEO Olivier Pomel said. Datadog's newer products, such as App Builder and On-Call, are outperforming, and its security monitoring is seeing significant customer interest, analysts have said. The company now expects full-year 2025 revenue to be between $3.22 billion and $3.24 billion, compared with its prior forecast of between $3.18 billion and $3.20 billion. Analysts on average expect $3.20 billion in annual revenue, according to data compiled by LSEG. It also forecast second-quarter revenue above estimates. Total revenue in the first quarter was up 25% from a year earlier to $761.6 million, compared with analysts' estimate of $741.5 million. On an adjusted basis, the company earned 46 cents per share compared with the estimate of 43 cents per share. At the end of the first quarter, Datadog had about 3,770 customers with annual recurring revenue of $100,000 or more, an increase of 13% from a year earlier. (Reporting by Harshita Mary Varghese in Bengaluru; Editing by Vijay Kishore)
Time of India
02-05-2025
- Business
- Time of India
Lumen beats quarterly revenue estimates on AI driven demand for connectivity
By Harshita Mary Varghese Lumen Technologies topped Wall Street estimates for first-quarter revenue on Thursday, driven by strong demand for its connectivity solutions from enterprise customers amid a rapid growth in AI-intensive workloads. The expansion of AI applications is driving enterprises to increasingly seek network infrastructure to manage the massive data flows and computational demands. Last month, the company said it was partnering with Google to provide direct fiber access to Google cloud through Lumen's metro-fiber. "What we're doing that is so fundamentally different is we're cleaning up our network, and we're moving to a place where that infrastructure will be very modern," Chief Financial Officer Chris Stansbury told Reuters in an interview. Last year, Lumen signed new contracts worth billions of dollars to provide networking and cybersecurity services to Big Tech companies. The company has been working towards growing its digital fiber connectivity solutions while managing the challenges associated with its legacy business, which includes traditional telecom services such as voice, broadband and ethernet services. Lumen said late last year that its consumer fiber business was a "great asset", but "better suited in somebody's hands that has a wireless offering." The fibre-optic cable provider reported revenue of $3.18 billion for the quarter ended March 31, above analysts' estimate of $3.12 billion, according to data compiled by LSEG. It posted an adjusted loss of 13 cents per share in the first quarter, compared with an expected loss of 27 cents. Lumen reaffirmed its free cash flow and adjusted core profit estimates for the year. "Things like tariffs at this point are not a huge impact to us this year and in terms of the broader economy, the reality is, most of what would impact us is actually in our control," Stansbury said.
Yahoo
01-05-2025
- Business
- Yahoo
Lumen beats quarterly revenue estimates on AI driven demand for connectivity
By Harshita Mary Varghese (Reuters) -Lumen Technologies topped Wall Street estimates for first-quarter revenue on Thursday, driven by strong demand for its connectivity solutions from enterprise customers amid a rapid growth in AI-intensive workloads. The expansion of AI applications is driving enterprises to increasingly seek network infrastructure to manage the massive data flows and computational demands. Last month, the company said it was partnering with Google to provide direct fiber access to Google cloud through Lumen's metro-fiber. "What we're doing that is so fundamentally different is we're cleaning up our network, and we're moving to a place where that infrastructure will be very modern," Chief Financial Officer Chris Stansbury told Reuters in an interview. Last year, Lumen signed new contracts worth billions of dollars to provide networking and cybersecurity services to Big Tech companies. The company has been working towards growing its digital fiber connectivity solutions while managing the challenges associated with its legacy business, which includes traditional telecom services such as voice, broadband and ethernet services. Lumen said late last year that its consumer fiber business was a "great asset", but "better suited in somebody's hands that has a wireless offering." The fibre-optic cable provider reported revenue of $3.18 billion for the quarter ended March 31, above analysts' estimate of $3.12 billion, according to data compiled by LSEG. It posted an adjusted loss of 13 cents per share in the first quarter, compared with an expected loss of 27 cents. Lumen reaffirmed its free cash flow and adjusted core profit estimates for the year. "Things like tariffs at this point are not a huge impact to us this year and in terms of the broader economy, the reality is, most of what would impact us is actually in our control," Stansbury said. Sign in to access your portfolio
