Friday, March 29

Tag: Fy2016-2017

Microsoft Posts $3.1 Billion in Profit, a Year After Big Loss
BUSINESS

Microsoft Posts $3.1 Billion in Profit, a Year After Big Loss

AFP, SAN FRANCISCO: Microsoft said Tuesday it posted a profit of $3.1 billion in the just-ended quarter, swinging into the black a year after hefty charges from writing off mobile phone assets. "This past year was pivotal in both our own transformation and in partnering with our customers who are navigating their own digital transformations," said chief executive Satya Nadella. The profit in the tech giant's fourth fiscal quarter was nearly identical to the loss from a year earlier, when it took charges of more than $7 billion to reflect the lower value of the Nokia mobile phone division it had acquired. Revenue dipped to $20.6 billion from $22.2 billion in the same period a year ago. Overall, the results were better than most forecasts and sparked an after-hours gain of more than 3% f...
Taxi Aggregator Meru Targeting Revenue of Rs 850 crore in 2016-17
News

Taxi Aggregator Meru Targeting Revenue of Rs 850 crore in 2016-17

Working on a model to "make every city profitable", taxi services provider Meru is targeting a revenue of Rs 850 crore in 2016-17 on the back of new services and deeper penetration into existing markets. The company, which returned to profits in December quarter of the previous fiscal after a gap of almost 1.5 years, clocked a revenue of about Rs 600 crore in 2015-16. "We are growing steadily by 35 per cent every year, and are targeting a revenue of Rs 850 crore by the end of the current fiscal on the back of our new channels, deeper penetration into existing markets and expansion. We are working on a model to make every city profitable," Meru Group CEO Siddhartha Pahwa said. Presently, Mumbai, Delhi, Bengaluru, Hyderabad, Ahmedabad and Kolkata have become entirely profita...