It's April and therefore all those big players in the Tech industry are posting their Q1 results. Surprisingly, even despite the weak economy, many companies have posted a not so bad result and this recent data have provided faint hope of a comeback. That is some relieving news for Tech professionals across the globe, however economists say a recovery is probably still months away and high unemployment would stretch well into 2010. No matter what those economists say, I believe we all should be optimistic and hope all these will be over very soon. A small highlight of the Q1 results of a few companies:
- Sony Ericsson posted a pretax loss of 358 million euros in the first quarter, excluding restructuring charges, on Friday and said it would slash a further 2,000 jobs this year.
- Google reported revenues of $5.51 billion for the quarter ended March 31, 2009, an increase of 6% compared to the first quarter of 2008 and a decrease of 3% compared to the fourth quarter of 2008.
- Nokia posted revenues in sales was 9.27 billion for the first quarter when compared with 12.66 billion euros in 2008.
- Intel has reported that it's revenue was $7.1 billion, down 26% from 2008. Its net profit for the quarter was $647 million, down 55% from last year.
- LG posted a net loss of 255 billion won ($191.1 million) for the first quarter ended March 31, from a net profit of 717 billion won a year earlier.
It's April and therefore all those big players in the Tech industry are posting their Q1 results. Surprisingly, even despite the weak economy, many companies have posted a not so bad result and this recent data have provided faint hope of a comeback. That is some relieving news for Tech professionals across the globe, however economists say a recovery is probably still months away and high unemployment would stretch well into 2010. No matter what those economists say, I believe we all should be optimistic and hope all these will be over very soon. A small highlight of the Q1 results of a few companies:
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