Disappointing Q2 Drives Intel to Cut Workforce by 15% and Restructure

Intel reported disappointing financial results for the second quarter of 2024, prompting the tech giant to announce comprehensive job cuts and restructuring measures. The company revealed a 1% year-over-year decline in revenue to $12.8 billion, alongside a GAAP loss per share of $0.38. Non-GAAP earnings per share were reported at $0.02. The lackluster performance has led to a decision to implement a more than 15% reduction in headcount to resize...

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Fiber Connect 2024: Panel Discussion on Federal Broadband Policy

At the Fiber Connect 2024 conference in Nashville, TN, telecom industry leaders gathered to discuss the implementation of the $42 billion Broadband Equity, Access and Deployment (BEAD) program. The panel, featuring executives from AT&T, Lumen Technologies, Altice USA, and C Spire, highlighted both the opportunities and challenges presented by this unprecedented federal investment in broadband infrastructure.ParticipantsRhonda Johnson, Executive...

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Telefónica Reports Steady Growth and Strong Financial Performance in H1 2024

Telefónica has released its financial results for the first half of 2024, showcasing solid revenue growth, improved profitability, and significant progress on strategic initiatives. The telecommunications giant reported a net income of €979 million, marking a 28.9% increase compared to the same period last year. Telefónica’s performance aligns with its GPS strategic plan, emphasizing growth, profitability, and sustainability. Revenue for the second...

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Qualcomm Reports Strong Q3, Highlights Diversification and AI

Qualcomm reported robust financial results for the third quarter of fiscal 2024, with non-GAAP revenues of $9.4 billion and earnings per share of $2.33, surpassing the midpoint of the company’s guidance range. The earnings call, held on July 31, 2024, emphasized Qualcomm’s successful diversification strategy and significant strides in automotive and AI sectors. Key Financial Highlights: • Revenue: $9.4 billion, non-GAAP, up 2% sequentially. • Earnings...

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Amazon’s Q2: AWS Shines with Robust Growth

Amazon.com reported Q2 net sales of $148.0 billion, marking a 10% increase compared to $134.4 billion in the second quarter of 2023. This growth includes a $1.0 billion unfavorable impact from year-over-year changes in foreign exchange rates, which translates to an 11% increase in net sales excluding these changes.A significant highlight from the report is the performance of Amazon Web Services (AWS), which continues to demonstrate strong growth...

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European Commission clears HPE-Juniper deal without conditions

The European Commission approved unconditionally the proposed acquisition of Juniper Networks  by Hewlett Packard Enterprise Company (HPE). The Commission concluded that the transaction would raise no competition concerns in the European Economic Area (‘EEA').The Commission examined the transaction’s impact on the following markets: (i) the global market for wireless local area network (WLAN) equipment; (ii) the global market for wireless access...

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Cloudflare Achieves 30% YOY Growth in Q2, Boosting Annualized Revenue to $1.6B

Cloudflare reported strong financial results for its second quarter ending June 30, 2024. The company achieved an annualized revenue milestone of $1.6 billion, marking a 30% year-over-year increase. CEO Matthew Prince highlighted the company’s focus on execution, resulting in significant improvements in sales productivity and reinforcing Cloudflare’s essential role in helping customers modernize and secure their businesses.Revenue: $401.0 million,...

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Lumen Confirms Fiber Supply Deal With Corning

 Lumen Technologies confirmed a significant supply agreement with Corninfor next-generation optical cable, aiming to more than double its U.S. intercity fiber miles to support the growing demands of AI workloads and high-bandwidth applications. This deal secures 10% of Corning’s global fiber capacity for the next two years, marking Lumen’s largest cable purchase to date. The partnership will support major data center operators, including Microsoft,...

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