The Good, the Bad, the Apple: 2nd Quarter Tech Earnings Reports
- With Prime Day results still a quarter away from having any impact, Amazon still posted another record-setting quarter
- Verizon took a hit thanks to lagging subscriber numbers and the worker strike that just recently came to an end
- For the second straight quarter, iPhone sales struggled and Apple posted a revenue decline
The past couple of weeks have seen a number of major tech companies release their revenue results from Quarter Number Two of 2016. Here’s a quick rundown of some of the big ones, and what they had to say during their earnings calls with the press, and what the outlook is like moving forward.
LG: LG Electronics announced an operating income of $503.10 million, which is around 140 percent higher than the previous year. That was thanks, mainly, to the strong performance of the company’s Home Appliance & Air Solution Company, which accounted for the largest share of the Q2 profit at $373.24 million—it was the single biggest quarter for the segment in the company’s history. The same was true for LG’s Home Entertainment Company, which saw revenues of $2.86 billion, a 12 percent increase over last year. Smartphone shipments for LG increased 3 percent over the previous quarter and totaled 13.9 million.