Latest news with #PriyankaG
Time of India
30-07-2025
- Business
- Time of India
State govt transfers several top IAS officers in major reshuffle
T'puram: In a major reshuffle involving top IAS officers, govt transferred several officials, including four district collectors. Priyanka G, Palakkad collector, will be the new Ernakulam collector. Madhavikutty M S is the new Palakkad collector. Chetan Kumar Meena, additional resident commissioner at Kerala House in New Delhi, was appointed as the new Kottayam collector. Dinesan Cheruvat, director of panchayats, is the new Idukki collector. Among the reshuffle of other bureaucrats, K Vasuki, secretary, labour and skills department, was transferred and posted as secretary, general education department. Shanavas S, director of general education, was posted as special secretary, labour and skills department. The officer will hold full additional charge of the post of director of panchayats. Sheeba George, additional secretary, revenue department, was posted as additional secretary, health and family welfare department. Chithra S, additional secretary and officer on special duty, local self govt department, is now the additional secretary, general education department. Geetha A, joint commissioner, land revenue, was transferred and posted as additional secretary, revenue department. Geromic George, on return from study leave, is posted as principal director, local self govt department. Umesh NSK, Ernakulam collector, is now the director of general education. The officer will hold the full additional charge of managing director, Kerala Financial Corporation. V Vigneshwari, Idukki collector, was transferred and posted as additional secretary, agriculture department. The officer will hold the full additional charges of deputy project director, Kerala Climate Resilient Agri-Value Chain Modernization Project (KERA) and director, Centre for Continuing Education Kerala. John V Samuel, Kottayam collector, was posted as director, state water transport department. Nizamudeen A, mission director, Mahatma Gandhi National Rural Employment Guarantee Scheme, is now the director, Kerala Institute of Local Administration. Sreedhanya Suresh, inspector general of registration, was posted as additional director (general), tourism. Aswathy Srinivas, managing director, Kerala State Civil Supplies Corporation Limited, is the new additional resident commissioner, Kerala House, New Delhi. The officer will hold the full additional charge of director, Kerala state insurance department. Arun J O, director, backward classes development department, was posted as chief operating officer, Township Project Wayanad. Meera K, sub collector Fort Kochi, is now the director, survey and land records department. Mithun Premraj, sub collector Ottapalam, is transferred and posted as joint commissioner, land revenue. Misal Sagar Bharat, sub collector, Mananthavady, is now the deputy secretary and officer on special duty, scheduled castes, scheduled tribes and backward classes development department. Harshil R Meena, sub collector, Kozhikode, was posted as director, Environment and Climate Change. Jayakrishnan V M, sub collector, Devikulam, is the new managing director, Kerala State Civil Supplies Corporation Limited.
Yahoo
23-04-2025
- Business
- Yahoo
Lam Research beats quarterly revenue estimates on surging AI chip demand
By Priyanka G (Reuters) -Chip-making equipment supplier Lam Research beat Wall Street expectations for third-quarter revenue on Wednesday, fueled by robust demand for advanced AI chips, sending the company's shares up 4.5% in extended trading. The increased appetite for high-performance AI chips and processors — essential for powering AI workloads — is prompting major chip manufacturers like Taiwan Semiconductor Manufacturing Co, one of Lam's biggest customers, to ramp up orders. This surge is benefiting equipment suppliers such as Lam as well. Lam posted revenue of $4.72 billion for the three months ended March 30, beating analysts' estimate of $4.65 billion, according to data compiled by LSEG. Kinngai Chan, senior analyst at Summit Insights Group, said the third-quarter "outperformance was due to stronger shipments to Taiwan, while shipments into China remain robust." Lam derived 31% revenue from China and 24% from Taiwan in the reported quarter. The strong results have come despite ongoing concerns related to U.S. export controls and tariffs, which have posed challenges for the semiconductor industry. "Our outlook remains strong even as we address near-term tariff-related uncertainty" said Lam CEO Tim Archer. For the fourth quarter, the company expects revenue of $5 billion, plus or minus $300 million, compared with analysts' estimate of $4.59 billion. In February, Lam's CFO Douglas Bettinger said the company expects revenue between $25 billion and $28 billion by 2028, a sharp increase from $16.2 billion in 2024. Lam develops tools essential for semiconductor manufacturing. Its products are primarily used in a wide range of wafer processing and wiring of semiconductor devices. The company posted an adjusted profit of $1.04 per share, beating analysts' estimate of $1.01. The company's systems revenue which includes sales of new leading-edge equipment in deposition, etch, clean and other wafer fabrication markets generated $3.04 billion in the third quarter. Sign in to access your portfolio
Yahoo
07-03-2025
- Business
- Yahoo
Chipmaker Marvell forecasts in-line Q1 revenue, but its shares slump
By Priyanka G and Max A. Cherney (Reuters) -Marvell Technology forecast first-quarter revenue in line with Wall Street estimates on Wednesday, but the chipmaker's shares plunged 15% in extended trading as it failed to excite investors who had expected stronger artificial intelligence-driven growth. Surging demand and the resulting shortage of AI chips have driven up the prices of sector-leader Nvidia's AI processors. As a result, the biggest tech companies such as Microsoft, Meta Platforms, and are reducing their reliance on Nvidia by developing their own AI processors. This strategic shift has also benefited chipmakers such as Marvell and Broadcom. "The earnings print was generally OK, but I believe investors were expecting more given all the bullish data points in the overall AI space and the ramp of custom ASICs (AI chips) with certain hyperscalers," said Tore Svanberg, an analyst at brokerage Stifel Nicolaus and Co. Marvell's data center segment revenue grew 78% in the fourth quarter from a year earlier to $1.37 billion, boosted by a surge in demand for custom AI chips from businesses looking to optimize their AI workloads. The company signed a five-year chip-related deal with Amazon in December, which includes custom AI chips. "We're engaged, we expect revenue to grow, but obviously, it's like anything, you've got to show you can do it, and you've got to show it consistently," Marvell Chief Operating Officer Chris Koopmans said. The Amazon deal is "sticky" he added. Marvell reiterated that it will focus its investments on data centers, compared to other end markets, to "fully capitalize" on the AI boom. Data center revenues accounted for 75% of its overall quarterly revenues. Koopmans said, thus far, Marvell had not seen any signs of tariffs - now or expected - affecting its data center business. Marvell's shares tumbled to $77.65 in extended hours on Wednesday. They rose over 83% in 2024, while larger competitor Broadcom's stock had jumped about 107%. "Shares are down sharply despite the good results, with some likely concerned about the magnitude of the beat, geopolitical pressures, and broader concerns about AI monetization," said Angelo Zino, an equity analyst at CFRA Research. The company forecast first-quarter revenue to be $1.88 billion, compared with analysts' average estimate of $1.87 billion, according to data compiled by LSEG. Sign in to access your portfolio
Yahoo
15-02-2025
- Business
- Yahoo
Roku forecasts annual revenue above estimates on strong ad sales; shares jump
By Priyanka G (Reuters) -stock rose 13% in pre-market trading Friday after forecasting annual revenue above Wall Street estimates and topping fourth-quarter expectations, driven by strong ad sales as more customers shift to streaming. Shares jumped 14% in extended trading on Thursday. The surge in political ad spending and the launch of streaming channels like Peacock, Disney+ and HBO Max have boosted Roku's subscriber base, ad revenue and overall growth. "We continue to make progress growing ad demand through deeper third-party platform integrations, improving the Roku Experience (which starts at our Home Screen) to expand monetization, and growing Roku-billed subscriptions," the company said in a letter to shareholders. Roku has expanded its advertising offerings to small- and medium-sized businesses, leveraging its home screen to diversify revenue streams across sectors. Brands from retail, automotive and telecom feature their ads on the platform, enhancing visibility and boosting user engagement. This move allows businesses to tap into Roku's extensive user base. The company's platform segment, which derives revenue from ad sales and subscriptions, grew 25% to $1.04 billion due to advertising activities, particularly from the political vertical. Ahead of the results, Barton Crockett from Rosenblatt said: "Political advertising on connected TV (CTV) stepped up meaningfully this cycle versus the last cycle, in part because of a big push into the medium by Kamala Harris." The Trump administration has recently imposed tariffs on electronics, particularly those imported from China. In a post-earnings call, Roku executives mentioned that while these tariffs could broadly impact the industry, they are not expected to have a material effect on the company's platform business. The company reported revenue of $1.20 billion in the fourth quarter, compared to the analysts' average estimate of $1.15 billion, according to data compiled by LSEG. For the full year, Roku expects net revenue of $4.61 billion, compared to analysts' consensus estimate of $4.59 billion. Sign in to access your portfolio
