German telecom giant Deutsche Telekom posted quarterly results showing core profits up 9 percent thanks to strength in the United States and modest increases in its home market. The company moved up its 2017 outlook for core profit to around €22.3 billion ($26.4) from a previous 22.2 €billion. T-Mobile US, the third largest mobile operator in the United States, contributed to Deutsche Telekom’s rise in profits, as it maintains a 64 percent stake in the company. T-Mobile recently said it…

Apple posted quarterly revenue of $45.4 billion for its fiscal 2017 third quarter ended July 1, 2017, and posted quarterly earnings per diluted share of $1.67. These results compare to revenue of $42.4 billion and earnings per diluted share of $1.42 in the year-ago quarter. International sales accounted for 61 percent of the quarter’s revenue. “With revenue up 7 percent year-over-year, we’re happy to report our third consecutive quarter of accelerating growth and an all-time quarterly record for Services revenue,”…

The parent company of Discovery Channel and Animal Planet, Discovery Communications, is forking out $14.6 billion, or $90 per share, based on Discovery’s Friday, July 21 closing price, to purchase Scripps Networks, the parent company of the Food Network and Travel Channel. The deal will combine two major US television companies, further consolidating the media industry. The transaction is expected to close by early 2018. Discovery and Scripps combined share an estimated 20 percent of ad-supported television viewership in the…

South Korea’s SK Telecom reported revenue of KRW 4.346 trillion for Q2 2017 and operating income of KRW 423.3 billion and net income of KRW 620.5 billion. Compared to the same period last year, the revenue and operating income for the second quarter increased by 1.8% and 3.9%, respectively, owing to the improved performance of its subsidiaries including SK Broadband and SK Planet. SK Telecom’s net income grew 113.2% year-on-year (YoY) due to factors including increased equity method gain from…

Chinese state-owned telecom company China Unicom, formally known as China United Network Communications Group, is to receive about $12 billion investment from Chinese tech firms Baidu and JD.com in a move to boost the telco lagging behind its rivals China Mobile and China Telecom, a source told Business Insider. The Chinese government is reportedly attempting to drive investment in state-owned giants through private capital. The government selected China Unicom among other state-owned enterprises last year, the report says, to see…