Shares increase across technology board

News

Ben Furfie Jul 26 2007, 12:15pm

Amazon, Apple, Sony and Symantec all see shares rise on increased profits

Several technology firms have announced their results for their latest quarters, including Amazon, Apple, Sony and Symantec.

Amazon was among the best performers with an increase of over 250 per cent in net profit. It was up at $78 million (£39 million), and increase of $56 million (£28.3 million) from $22 million (£10.7 million) year on year.

Sony also did well despite the huge losses it is making on the PlayStation 3 and costs incurred due to the on-going issue with faulty laptop batteries – posting a profit of ¥66.5 billion (£269 million) – up over 100 per cent year-on-year.

Apple shares rose on it reporting profits of $818 million (£400 million) – a jump of 73 per cent year on year – thanks in part to strong sales of its Mac computers and the iPod.

Symantec also saw its shares rise nine per cent despite reporting a lower quarterly profit than had been expected. The maker of Norton Internet Security software said the figures were largely due in part to stock-based compensation costs, restructuring and acquisition-related adjustments.