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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The latest earnings across the board have indicated a weakness in cloud and enterprise IT spending, but the worst may be over.
Editor's note: The earnings reports for the December quarter for the five Big Tech players—Apple, Amazon, Alphabet, Meta and Microsoft—have reinforced concerns about the decelerating cloud trends and the uncertainty about this revenue stream and its cyclicality. Cloud infrastructure and services have been the flag bearer of profits for the past few years for companies like Amazon and Microsoft, which together dominate the cloud market. The recent earnings reports of both the companies showed growth in the business was at its lowest. Google Cloud’s growth too has been the slowest since 2019, when the company began reporting the division’s numbers. The continued poor results reflect the stressed economic climate as well as a post-pandemic frugality by enterprise customers hit by dwindling demand, high inflation and rising interest rates. After the earnings reports last quarter—amid hundreds of billions of dollars being wiped from the market values—I wrote about how the resilience of Big Tech has its limits and the Teflon coating seems to be eroding. Since then, the fourth quarter earnings of the five companies as a whole are down 28% from the …
Abu Dhabi’s Aldar and Dubai Residential REIT deliver strong earnings, UAE exits OPEC amid rising Gulf tensions and other news updates.
The Indian mother and baby products retailer has been slow to grow in the two largest markets of the Gulf. What gives?
Delivery Hero-owned food delivery giant is seeing aggressive competition in multiple markets and has unveiled a new spending roadmap.
