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Microsoft profit, revenue beats Wall Street view; shares up

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Microsoft Corp on Thursday reported revenue and profit above Wall Street expectations, as sales of its hardware and cloud-computing services helped to offset a decline in the company's core Windows business. “The Street will cheer these results as it appears Microsoft is back on the right track after a head-scratching performance last quarter.” Sales of Windows to computer manufacturers to install on new PCs fell 19 percent in the quarter, reflecting a sharp dip from a year ago when Windows got a brief boost from consumers rushing to buy new machines after Microsoft stopped support for the 14-year-old XP operating system. Microsoft's overall revenue rose 6 percent to $21.7 billion, above Wall Street's average forecast of $21.1 billion, according to Thomson Reuters I/B/E/S.

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Google shares rise after online ad sales drive revenue higher

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Google Inc reported higher quarterly revenue and profit as rising online ad volume offset a hit from the strong dollar, sending the Internet company's shares higher in after-hours trading. While revenue and profit missed the forecasts of Wall Street analysts, many investors had been bracing for a weaker report, said BGC Financial analyst Colin Gillis. The company has faced challenges in mobile advertising and is running up more expenses as it invests in new businesses.

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Indian jeweller pulls ‘racist’, ‘slave-child’ ad with Bollywood actress

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By Nita Bhalla NEW DELHI (Thomson Reuters Foundation) – A major Indian jewellery chain has withdrawn an advert featuring Bollywood actress Aishwarya Rai Bachchan with a dark-skinned boy holding a parasol over her after it was slammed by activists and on social media for being racist and promoting child slavery. Kalyan Jewellers, which employs about 4,000 people across India, said the advertisement featured in a national newspaper on April 17 was intended to present “royalty, timeless beauty and elegance”

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Online store merger prods luxury goods makers toward Internet

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By Astrid Wendlandt and Pascale Denis PARIS (Reuters) – The merger of the world's two biggest online fashion stores, Net-a-Porter (NAP) and Yoox, sends a warning to luxury brands to embrace the Internet with more vim after years of resistance. “It looks like they are scared to try things out.” Sharma said many brands' websites mimicked the appearance of Net-a-Porter's black-and-white portal.

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As Amazon parties on, some large fund managers take their leave

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The average large-cap fund that holds Amazon has 1.4 percent of its assets in the stock, down 23 percent from this time last year, according to the latest available Lipper data. They include such well-known names as Fidelity Contrafund, Washington Mutual Investors Fund, Touchstone Sands Select Growth fund and the T.

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Facebook revenue growth slows, costs weigh on profit

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(Reuters) – Facebook Inc posted its slowest growth in quarterly revenue in two years and higher spending on research and development ate into profits. Facebook has warned of heavy investments in 2015 as it steps up efforts to expand a collection of products that include messaging service WhatsApp, photo-sharing service Instagram and virtual reality headset maker Oculus Rift

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House passes cyber-threat information bill

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By Patricia Zengerle WASHINGTON (Reuters) – The U.S. House of Representatives passed a bill on Wednesday that would make it easier for private companies to share information about cyber security threats with each other and the government without fear of lawsuits

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BlackBerry introduces security offering for IoT devices

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BlackBerry Ltd said on Tuesday it is launching a new certificate service that will help bring the security level it offers on smartphones to a slew of devices from cars to smart meters. Certicom, a subsidiary of BlackBerry and an industry pioneer in elliptic curve cryptography, announced a new offering that it contends will secure millions of devices, expected to be part of the growing Internet of Things (IoT) sphere. The company said it has already won a contract in Britain to issue certificates for the smart meter initiative there with more than 104 million smart meters and home energy management devices

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U.S. House seen passing cyber threat information bill Wednesday

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By Patricia Zengerle WASHINGTON (Reuters) – The U.S. House of Representatives is expected to consider, and pass, on Wednesday a long-awaited bill that would make it easier for companies to share information about cyber security threats with the government without fear of lawsuits.

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