Transfin.
HomeNewsGuidesReadsPodcastsVideosTech
  1. News
  2. Explained

Wipro Q1 Revenue, Microsoft Q2 Results, Trade War Continues et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jul 20, 2018 2:05 PM 2 min read
Editorial

End of Day Wrap-up (Friday / July 20, 2018) #Wipro #Infosys #Panaya #Novartis #Trump #GalapagosNV #MorphoSysAG #China #Comcast #Fox #Sky #Microsoft #Transfin

Editor's Comment: Wipro Q1 revenue rises 2.6% YoY to INR13,980cr and profits rise 0.5%YoY to INR2,094cr. Earnings per share also increase 9.9% YoY to INR4.71, on the backing of strong North American business and the Banking, Financial Services and Insurance sector.

 

Infosys struggling to sell distressed asset Panaya, even with a 59% haircut which values the company at INR582cr. Bought in 2015 for INR1,398cr the investment was at the center of the severance package controversy often cited as a driver behind Vishal Sikka’s exit.

 

Novartis agrees to buy rights to a skin disease drug for c. $1bn from developers Galapagos NV and MorphoSys AG. The upfront cost will be $111mn for the rights and with the remainder to be paid later based on the drug reaching certain regulatory, commercial and sales goals.

 

Trump threatens to impose tariffs on all imported Chinese goods into US worth $500bn. Trump didn’t appreciate retaliatory tariffs by China, as he wished to bring parity to the trade balance between the two countries.

 

Comcast drops acquisition plan for 21st Century Fox. This leaves Disney as the clear winner in the battle for 21st Century Fox. Comcast looks to acquire Sky now, in which Fox already has a 39% stake.

 

Microsoft Q2 net income rises 10% to $8.8bn as revenue increases 17% to $30.1bn on the backing of cloud computing and artificial intelligence. Microsoft saw gains in revenue across all divisions like gaming, business services, internet search ads etc. Microsoft expects the growth to rise in the upcoming year.