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[unable to retrieve full-text content]Yandex: Q2 Earnings Snapshot  CT Post Source link

By Alexander Marrow MOSCOW (Reuters) -Russian internet giant Yandex said on Wednesday it intends to spend around $650 million on e-commerce initiatives this year, more than previously planned, after reporting strong second-quarter results and upgrading its 2021 revenue forecast. Group revenue this year should now be between 330 and 340 billion roubles ($4.49-$4.63 billion), Yandex said, up from 315-330 billion roubles previously. Second-quarter revenue jumped 70% year-on-year to 81.4 billion… Source link

(Bloomberg) — Rio Tinto Group, the world’s biggest iron ore miner, reported its highest-ever interim profit and will pay $9.1 billion in dividends as the company and its global rivals cash in on this year’s commodities rally. Rio is the first of the majors to post earnings, kicking off a reporting season that’s expected to see record results across the board. The industry has been one of the biggest beneficiaries from the world’s efforts to emerge from the pandemic. The trillions of… Source link

(Bloomberg) — A continuing recovery in Bitcoin has put the largest cryptocurrency on course for its longest winning streak this year. The virtual coin rose as much as 6.1% to top $40,000 and was trading at about $39,700 as of 8:15 a.m. in London on Wednesday. It’s advanced for eight straight days. Other coins including second-ranked Ether climbed, boosting the Bloomberg Galaxy Crypto Index. “The current momentum is strong” and $45,000 is in sight but a conclusive break above $50,000… Source link

Google (GOOG)‘s parent company Alphabet reported revenue of $61.9 billion for the quarter ended June 30, a staggering 62% jump from the same quarter last year and significantly higher than analysts had expected. The company’s profits more than doubled to $18.5 billion. Alphabet’s stock rose 3% in after-hours trading Tuesday following the earnings report. Much of that growth was driven by a rebound in Google’s core advertising business, which posted revenue of $50.4 billion — a 69% increase … Source link

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While the pandemic had a slight impact on Apple’s sales last year and a slump in advertising affected Google’s revenue, the quarter was huge for both companies. Apple earned $81 billion in the quarter, more than any fiscal second quarter in the company’s history, thanks to soaring sales of iPhones and services, which includes Apple’s streaming service and cloud storage. Google earned $62 billion, a 62 percent increase from the same quarter last year. Source link

Alphabet, Google’s parent company, just made in three months what it took until recently an entire year to earn. That is a level of growth that companies of its size rarely if ever achieve, but the pandemic has erased all the limits for tech firms. The search and advertising company on Tuesday reported record profits and revenue for the second quarter, vindicating the enthusiasm of investors who doubled its value on the stock market since early last year. The stellar results pushed shares… Source link

Stock futures added to losses in late trading on Tuesday, with investors digesting a slew of Big Tech earnings results and looking ahead to another set of reports on Wednesday. A monetary policy statement from the Federal Reserve is also slated for release. Contracts on the S&P 500 dipped about 0.25% at the start of the overnight session. The index, as well as the Dow and Nasdaq, pulled back from record levels during the regular trading day.  Shares of Apple (AAPL) and Microsoft (MSFT) fell… Source link

Business is good for Mountain View, California-based Google. Stephen Shankland/CNET Google’s battle with antitrust… Source link