|Bid||130.83 x 800|
|Ask||131.18 x 1000|
|Day's Range||130.53 - 131.31|
|52 Week Range||120.89 - 171.78|
|Beta (3Y Monthly)||1.39|
|PE Ratio (TTM)||54.68|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
(Bloomberg) -- An Indian startup that aims to use artificial intelligence to deliver faster and more personalized customer support for corporate clients is raising $51 million in funding from investors including March Capital Partners and Chiratae Ventures.Uniphore Software Systems Pvt, based in Chennai and Palo Alto, Calif., plans to use the emerging technology to change the labor-intensive business of call centers, displacing workers with machines. Former Cisco Systems Inc. Chief Executive Officer John Chambers’ JC2 Ventures owns about 10% of the startup. Existing backers also include Analog Devices Inc. founder Ray Stata and Infosys Ltd. billionaire co-founder Kris Gopalakrishnan.Umesh Sachdev, 33, founded the company in 2008 with his engineering classmate Ravi Saraogi. They are competing with technology giants like Google, Microsoft Corp. and International Business Machines Corp. as well as at least a dozen AI startups to automate the $350 billion call center industry, helping agents deliver more useful support while decreasing the number of infuriating and ineffectual experiences.“This is one of the largest rounds in an area of deep tech already seeing a lot of investor activity,” CEO Sachdev said in a telephone interview. “It represents the coming of age of conversational AI.”He declined to reveal the startup’s valuation, but said it is “one step away from turning into a unicorn,” the tech industry’s term for a value of $1 billion or more.Voice bots and automated messaging systems are already changing the world of call centers, and experts reckon the majority of human workers will be driven to obsolescence by artificial intelligence. By 2021, about 70% of organizations will integrate AI to assist employee productivity, researcher Gartner Inc forecast earlier this year.Using messaging apps, chatbots and speech-based assistants, so-called conversational artificial intelligence automates communication and delivers personalized experiences. “Virtual agents are gaining ubiquity via smartphones and messaging platforms to support customer care, marketing and employee efficiency,” said Dan Miller, the lead analyst with Saint Paul, Minnesota-based Opus Research.Sachdev estimates that the U.S. alone has 3.9 million call center workers and those numbers will steadily diminish as companies adopt new technologies. “Humans will shift from taking mundane calls to enhancing knowledge and teaching AI what is the good answer and how to resolve issues,” he said.Uniphore will use the funds to hire talent, invest in research and development and accelerate expansion, particularly in its primary market in North America. The startup plans to increase its engineering and development operations to 200 employees in India by the year end, while another 60 will be based in the U.S. and 40 in Europe and Asia Pacific. Its customers include BNP Paribas SA, Genpact Ltd., NTT Data Corp., and PNB MetLife.“Indian entrepreneurs are going from slow-followers to fast-innovators,” said Chambers in an interview earlier this year, explaining why he’s backing Uniphore. “I see a young breed of founders who are hungry for a piece of the future.”To contact the reporter on this story: Saritha Rai in Bangalore at email@example.comTo contact the editors responsible for this story: Peter Elstrom at firstname.lastname@example.org, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Businesses throughout the supply chain are implementing TMS solutions at a rapid rate. According to Gartner research, the global market for TMS is expected to reach $1.94 billion by 2022 – that is 31 percent of the anticipated total supply chain execution market in that year. Many shippers, for example, end up disappointed because their fancy new TMS doesn't provide the visibility into their shipments they expected.
(Bloomberg) -- Samsung Electronics Co. shares slid after South Korea’s most important company reported sharply lower profit amid global trade tensions and a wireless industry slump.Net income fell 54% from a year earlier to 5.06 trillion won ($4.3 billion) for the three months ended June, the Suwon, South Korea based company said in a statement, while revenue dropped 4% to 56.1 trillion won. Shares slid as much as 3.3%.The world’s largest maker of memory chips and smartphones has been hammered by geopolitical tensions and a wireless slump. The U.S.-China trade war has rattled the global tech-supply chain and weighed down the price of memory chips used in phones and data centers. In addition, Japan restricted the export of materials used in chips and displays to Korea, raising concern over potential disruptions at Samsung and SK Hynix Inc.Samsung had planned to announce its three-year shareholder return policy Wednesday, but put off the announcement until early next year, citing significant new challenges.“Shares are falling as Samsung delays shareholder return plans because of growing external uncertainties,” Greg Roh, senior vice president at Hyundai Motor Securities, said by phone. “As for now, the extent of global cloud customers’ investments and Japan’s export restrictions are important factors for Samsung’s outlook.”Its stock originally traded higher and then dropped lower during an investor call as Samsung said it’s facing uncertainty due to growing macroeconomic issues. Beyond the U.S.-China dispute, Japan may announce further export curbs against South Korea this week.“Even though Japan’s measures do not ban the export of the materials, we are facing difficulties due to the burden of new export approval process and uncertainties that this new process will bring,” Robert Yi, an investor relations executive, said on an earnings call. “We are dedicated to minimizing any negative impact on our manufacturing process.”Samsung did signal optimism about improvements for the memory business -- its most profitable -- for the rest of the year.“In the second half, demand is expected to grow although the company sees volatility in the overall industry due to increased external uncertainties,” Samsung said in a statement Wednesday. The company said memory demand increased in the second quarter as data-center customers resumed purchasing and mobile applications adopted higher-capacity products. The company didn’t commit to cutting capacity saying that expenditure plans for 2020 haven’t been finalized.Samsung had reported preliminary numbers this month that showed operating profit fell more than 50% and its net income did exceed the 4.88 trillion won average of estimates compiled by Bloomberg.Shares have been little changed over the past year, though they’ve gained in recent weeks with hope of a recovery in chip prices and of progress in the U.S.-China trade dispute.Memory chips have been challenging this year. Contract prices for 32-gigabyte DRAM server modules, used to store data on PCs and servers, dropped by 25.1% in the June quarter, according to InSpectrum Tech Inc. Prices for TLC 128 NAND flash memory dropped 11.5%.Demand for DRAM is expected to rise on seasonal factors while servers will benefit as customers adjust inventory levels and resume purchasing, Samsung said in its statement. The NAND market should stabilize from the third quarter, it said.“We will continue to manage line operations flexibly depending on demand changes. Currently, we are not considering any artificial decrease of wafer input,” Chun SeWon, executive vice president of the company’s semiconductor business said during the earnings call.Chipmakers have been predicting a recovery in memory demand this year, but that’s been delayed amid the trade war and slower expansion of data centers. “A demand-driven oversupply in the DRAM market will push pricing down 42.1% in 2019 and the oversupply is expected to extend through the second quarter of 2020,” Gartner Inc. said in a note on July 22.The mobile division of the world’s largest smartphone maker posted a 42% decline in operating income to 1.56 trillion won. Samsung said its profitability eroded because of intensifying competition in low-to-mid range markets, and vowed to launch successfully the Galaxy Note 10 and Galaxy Fold in the second half of this year.Samsung’s display division, which supplies organic light-emitting-diode screens for Apple’s iPhones, posted operating profit of 750 billion won due to a one-time gain and a gradual demand recovery. The consumer electronics unit, which includes TVs and appliances, posted 710 billion won of profit.“There are many negative factors for Samsung, but its display business is improving,” Song Myung-sup, analyst at HI Investment & Securities, said before earnings release. “Samsung might start seeing a windfall from the U.S. ban on Huawei and more display orders from Apple.”(Updates with analyst comment in fifth paragraph.)To contact the reporter on this story: Sohee Kim in Seoul at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Peter Elstrom, Colum MurphyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Gartner (IT) delivered earnings and revenue surprises of 22.88% and -0.63%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Gartner (NYSE: IT ) unveils its next round of earnings this Tuesday, July 30. Get prepared with Benzinga's ultimate preview for Gartner's Q2 earnings. Earnings and Revenue Wall Street analysts see Gartner ...
Gartner (IT) second-quarter 2019 revenues are likely to reflect strength across each of the three business segments - Research, Conferences and Consulting.
Acreage Holdings Inc (OTC: ACRGF ) has appointed Laurence Wolfe as Senior Vice President of Manufacturing and Distribution. Wolfe will leverage Acreage’s industry leading 20-state footprint (including ...
Gartner (IT) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
(Bloomberg) -- Microsoft Corp. rose to a record after topping quarterly sales and profit projections, fueled by steady demand for cloud-computing services and a surprisingly strong Windows business. The company’s forecast promised robust growth will continue into next year.The software maker pledged “double-digit” percentage gains in sales and operating income for the year that started July 1. Results are getting a boost from larger deals for its Azure web services and brisk adoption of internet-based Office programs. Given Microsoft’s “strong ambition,” it plans to increase operating expenses by 11% to 12% for the fiscal year, and will raise capital spending to build out data centers, Chief Financial Officer Amy Hood said.The shares rose as much as 3.1% to $140.67, the highest intraday on record. Several analysts raised their price targets for the stock Friday and Canaccord Genuity described it as “more expensive than it has been since 2000.”Chief Executive Officer Satya Nadella has centered Microsoft’s strategy on cloud services, seeking to narrow the gap with market leader Amazon.com Inc. As more customers move storage and computing tasks to remote servers owned by Microsoft and upgrade their aging business software, the company has been leveraging its broad product line by getting them to sign up for both Azure and newer products like Microsoft 365 -- a subscription package of Office 365 cloud software, Windows 10 and security programs.“Everything has been going well for them,” said Sid Parakh, a portfolio manager at Becker Capital Management, which counts Microsoft as its biggest holding. “It’s the structural winner right now -- as more and more companies move to the cloud, it’s largely Amazon and Microsoft in the running for those deals.”Profit before certain items in the fourth quarter, which ended June 30, rose to $1.37 a share, compared with the $1.22 average forecast of analysts polled by Bloomberg. Revenue increased 12% to $33.7 billion, the Redmond, Washington-based company said Thursday in a statement, compared with the $32.8 billion projection. Net income in the quarter was $13.2 billion, or $1.71 a share.The stock has jumped this year on optimism about the company’s cloud business, and on some investors’ belief that Microsoft is a safe haven as U.S. and European regulators sharpen their scrutiny of other large technology firms. The gains have made Microsoft the most-valuable public company, with a market capitalization of more than $1 trillion.“Microsoft is brimming with confidence in cloud growth on the heels of Azure and Office 365 success,” said Dan Ives, an analyst at Wedbush Securities. “The Street will be loudly applauding this forecast.”In the fourth quarter, commercial cloud revenue -- a measure of sales from Azure, internet-based versions of Office software and some smaller products -- rose 39% from a year earlier to $11 billion. Profit margins in the business widened by 6 points to 65%.Sales of Office 365 software to businesses jumped 31%. Azure cloud sales rose 64%, compared with 73% growth in the previous quarter and 76% in the one before that. That continued deceleration has caused some concern among investors -- Azure revenue was routinely more than doubling as recently as two years ago. Still, swelling profit margins in cloud have helped to offset those worries. Margins will continue to widen in the new fiscal year, Hood said on a conference call.Since the close of the quarter, Microsoft signed new cloud deals with Providence St. Joseph Health and ServiceNow Inc., which said it will use Azure to deliver cloud products to some government customers -- the first time that company has used third-party data centers for its business.Worldwide public-cloud services sales are expected to grow 17.5% this year to $214.3 billion, according to Gartner Inc. In the infrastructure part of the market, Amazon and Microsoft are increasingly pulling away from other competitors -- although Azure remains several times smaller than Amazon Web Services. Meanwhile, Microsoft’s Office cloud business puts it in the lead in area of web-based applications.Revenue in the company’s productivity and business unit, which includes the Office suite of programs like Word, Excel and PowerPoint, rose 14% in the quarter to $11 billion, exceeding analysts’ average estimate of $10.7 billion. Sales from the Intelligent Cloud division, made up of Azure and server software, jumped 19% to $11.4 billion -- the first quarter the unit has been Microsoft’s biggest by revenue.The unit known as More Personal Computing, including Windows software, Surface hardware and Xbox gaming products, saw revenue climb 4% to $11.3 billion in the recent period.Global shipments of personal computers increased 1.5% in the June quarter, Gartner said last week, fueled by businesses upgrading to the latest Windows operating system. Support for Windows 7 is ending in January, meaning companies need to upgrade to Windows 10. The older software’s expiration is also helping boost sales of the Microsoft 365 bundle as the company persuades customers to switch to internet-based subscriptions rather than one-time licenses.Sales of Windows to PC makers in the quarter were better than expected, rising 9% overall and 18% for the pricier professional editions, Microsoft said, far outpacing the overall PC market. Four points of the growth in Pro revenue was also because PC makers are stocking up ahead of tariffs related to a U.S.-China trade war, said Mike Spencer, Microsoft general manager for investor relations, in an interview. Other than that, Microsoft hasn’t seen any notable impact from U.S.-China trade tensions.Microsoft’s net income benefited from a $2.6 billion tax gain, which came as the company moved intellectual property to the U.S. to comply with the 2017 Tax Cuts and Jobs Act. While the gain is being recognized up front in the recent quarter, the company will face a higher tax rate in coming quarters, Spencer said.To contact the reporter on this story: Dina Bass in Seattle at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The PC market has been pretty gloomy of late, but global shipments went up by at least 1.5 percent after two down quarters, according to Gartner and IDC . Lenovo led the pack with a 25 percent share, followed by HP and Dell with 22.2 and 16.9 percent, respectively. The growth was driven in part by the latest Windows 10 refresh and an easing of the Intel CPU shortage , which has adversely affected PC sales for the last 18 months.
(Bloomberg) -- Worldwide shipments of personal computers increased 1.5% in the second quarter, fueled by businesses upgrading to the latest Windows software from Microsoft Corp. China-based Lenovo Group Ltd. held the No. 1 spot over U.S. rival HP Inc. amid a trade war between the two countries.PC shipments increased to 63 million units in the period ended June 30 from 62 million in the quarter a year earlier, researcher Gartner Inc. said Thursday in a report. Robust corporate demand offset a decline in notebook shipments, Gartner said. Lenovo shipped almost 16% more PCs year-over-year, giving the company a quarter of the global market.Industry research firm IDC estimated PC shipments climbed 4.7% in the most recent period, with vendors putting out 65 million devices worldwide."The threat of increased tariffs led some PC makers to ship a surplus of desktops and notebooks, thereby artificially propping up the PC market during the second quarter," said Jitesh Ubrani, a research manager at IDC.Computer makers have struggled to navigate global trade tensions. They already operate with low profit margins, and many of them have shuffled their supply chains in response to U.S. tariffs on some components. Dell Technologies Inc. and HP are reportedly considering moving 30% of their notebook production out of China.Dell came in third place in the global PC race, with 17% of the market after HP’s 22%. Apple Inc.’s PC shipments narrowly declined in the most recent period, and the company held the fourth spot with about 6% of the market.(Updates with estimates from IDC in third paragraph.)To contact the reporter on this story: Nico Grant in San Francisco at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Andrew Pollack, Alistair BarrFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.