Apple now has $193.82 billion in cash on hand

Ford Motor Co Bottom Line Climbs In Q2

Ford Motor Co (F) revealed earnings for its second quarter that advanced from last year.

The company’s earnings totaled $1117 million, or $0.28 per share. This compares with $148 million, or $0.04 per share, in last year’s second quarter.

The company’s revenue for the quarter fell 50.1% to $19.4 billion from $38.9 billion last year.

Ford Motor Co earnings at a glance:

-Earnings (Q2): $1117 Mln. vs. $148 Mln. last year.
-EPS (Q2): $0.28 vs. $0.04 last year.
-Revenue (Q2): $19.4 Bln vs. $38.9 Bln last year.

Google parent Alphabet tops quarterly sales estimates

July 30 (Reuters) – Google parent Alphabet Inc beat Wall Street estimates for quarterly revenue on Thursday, as more advertisers tapped the world’s most used internet search engine to reach potential customers during the COVID-19 pandemic.

Revenue fell to $38.3 billion from $38.94 billion in the second quarter, compared to estimates of $37.37 billion, according to IBES data from Refinitiv. (Reporting by Paresh Dave in San Francisco and Munsif Vengattil in Bengaluru; Editing by Shailesh Kuber)

Muslims prepare to mark Eid al-Adha amid COVID-19 crisis

Muslims around the world are preparing to celebrate the end of the Hajj pilgrimage, but the effects of the pandemic are already being felt globally, ahead of the festivities.

Muslims around the world are preparing for Eid al-Adha to celebrate the end of the Hajj pilgrimage.

But the effects of the pandemic are already being felt globally, ahead of the festivities.

Al Jazeera’s Sara Khairat reports.

Lin-Manuel Miranda Endorses Joe Biden: “Our Democracy Is At Stake”

It’s no surprise when any entertainment figure endorses the presidential campaign of a Democrat. Joe Biden’s campaign enjoys lopsided support from showbiz compared to Donald Trump, a difference between the candidates that is perhaps greater than any recent cycle.

But the Biden campaign singled out an endorsement on Thursday from Lin-Manuel Miranda, the creator and star of Hamilton.

“I’m voting for Joe,” Miranda said in a conversation with Randi Weingarten of the American Federation of Teachers.

“I am voting for Joe because our democracy is at stake, and I thnk we have had four years of the perils of someone with no experience at the wheel, and we’ve …It’s so much worse than everyone feared.”

Miranda has been outspoken about Trump throughout his presidency, especially over his response to the hurricane in Puerto Rico. He also campaigned for Hillary Clinton in the 2016 cycle, and even changed the lyrics of “Ten Duel Commandments” for her campaign. He also performed parts of Hamilton at a White House event that year.

Biden’s campaign has recently drawn on showbiz support for fundraisers, including an event on Sunday that featured Barbra Streisand, John Legend and Dave Matthews, and another on Tuesday featuring George Clooney and former President Barack Obama.

 

EARNINGS SUMMARY: Details of Arc Resources Ltd Q2 Earnings Report

Below are the earnings highlights for Arc Resources Ltd (ARX.TO):

-Earnings: -C$43.5 million in Q2 vs. C$94.4 million in the same period last year.
-EPS: -C$0.12 in Q2 vs. C$0.27 in the same period last year.
-Analysts projected -C$0.15 per share

Coca-Cola is getting into the hard-seltzer game

  • Sparkling water brand Topo Chico, acquired by Coca-Cola in 2017, say it is launching a Lemon-Lime hard seltzer.
  • Hard seltzers are gaining popularity, with 26 brands on the market, up from 10 in 2018.
  • The drink will be sold later this year in Latin America, with a US release to follow, the company said.
  • Visit Business Insider's homepage for more stories.

It's official: Coca-Cola is getting into hard seltzer.

Topo Chico — the company's sparkling-mineral-water brand — said it would soon have a spiked option in its catalogue. Coca-Cola acquired the brand in 2017.

In a photo provided by the company on Thursday, it appeared that the hard seltzer would be offered in a "Tangy Lemon Lime" flavor on its release later this year.

Coca-Cola isn't the ony major beverage company to announce a hard-seltzer beverage, as Bud Light and Anheuser-Busch are both launching their own drinks this year.

Hard seltzers have been gaining traction in the past two years.

According to a Nielsen report, just 10 hard-seltzer brands were on the US market in 2018, a number that rose to 26 brands by early 2019.

The drink will launch in select Latin American cities later this year, with a US release to come at a later date.

Apple now has $193.82 billion in cash on hand

  • Apple disclosed it now has $193.817 billion in cash, up from the second quarter.
  • That's up from the company's fiscal second quarter of 2020, when the company reported a $192.8 billion cash pile. 
  • Apple has continuously hosted one of the largest cash piles among U.S. companies but has faced pressure from the Covid-19 pandemic.

Apple now has $193.817 billion cash on hand, according to the company's fiscal third-quarter earnings report released Thursday. 

That's up from the company's fiscal second quarter of 2020, when the company reported a $192.8 billion cash pile. It's down from Apple's fiscal third quarter 2019 earnings, however, when Apple reported $210.6 billion in cash. Apple has been investing in new services, like Apple TV+ original TV shows and movies. It also spent $13.8 billion in research and development over the last 9 months, according to its earnings report.

Apple has continuously hosted one of the largest cash piles among U.S. companies but has faced pressure from the Covid-19 pandemic. A majority of Apple's retail locations across the globe are now open but many in the U.S. remain closed.

Still, Apple shares have largely recovered from the pandemic low-point in March. Shares are up more than 30% year-to-date and more than 83% since Apple reported third-quarter earnings last year. 

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