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<ul><li>The Indian smartphone market recorded a 5.6% growth in Q3 2024, with 46 million devices shipped.</li><li>Vivo emerged as the market leader, with a 15.8% market share.</li><li>Apple recorded its highest quarterly shipments in India in Q3 2024.</li></ul> <keyword id="10541246" type="General" weightage="100" keywordseo="indian-smartphone-shipments" source="Orion">Indian smartphone shipments</keyword> recorded a growth of 5.6% in Q3 2024, marking the fifth consecutive quarter to record growth. In Q3 2024, 46 million smartphones were shipped in India. According to a report by International Data Corporation (IDC), Cupertino tech giant Apple posted its highest quarterly shipments in India at 4 million units, led by iPhone 15 and iPhone 13. “Growth in the biggest quarter of the year was fueled by attractive discounts, multiple financing options, extended device warranty and cashback/bank offers across both online/offline channels. The launch of several new 5G smartphones also drove demand,” said Upasana Joshi, Senior Research Manager, Devices Research, IDC Asia Pacific. <h2>Smartphone Market Share Q3 2024</h2><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2024 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2023 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vivo </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.8% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.9% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oppo </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.9% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">9.9% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Samsung </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">12.3% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.2% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Realme </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.5% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.1% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Xiaomi </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.4% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.7% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apple </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">8.6% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.7% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Poco </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.8% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.7% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motorola </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.7% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.4% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">iQOO </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.2% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.2% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">OnePlus </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.6% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.2% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Others </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.2% </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">11.0% </td></tr></tbody></table> Source: IDC <h2>Vivo leads the market</h2>Vivo has emerged as the market leader in Q3 2024, with a 15.8% market share, up from a 13.9% market share in Q3 2023. This marks the third consecutive quarter where the smartphone maker has led the Indian smartphone market. Vivo’s shipments have increased by 20% year-on-year. Oppo is second, with a 13.9% market share in Q3 2024, up from a 9.9% market share in Q3 2023. The company’s shipments have increased by 47.6% year-on-year. Samsung, which led the Indian smartphone market in Q3 2023 with a market share of 16.2% has been pushed down to the third spot with a 12.3% market share. The company’s shipments have declined by 19.7% year-on-year. Other notable changes include the increase in Apple’s market share from 5.7% to 8.2%, a decline in OnePlus’ market share from 6.2% to 3.6% and a 149% year-on-year increase in shipments recorded by Motorola. <h2>5G shipments on the rise</h2>The share of 5G shipments increased to 83% in Q3 2024, up from 57% in Q3 2023. Of the 46 million smartphones shipped, 38 million were 5G smartphones. This has been fueled by the decline in the average selling price (ASP) of 5G smartphones. The ASP has by 20% to $292 (approx. ₹24,650). “Cyclical dip in demand after the festive period and high shipments in 3Q24 will result in higher stock levels across channels in 4Q24. Thus, India's smartphone market is expected to exit 2024 with a low single-digit annual growth,” said Navkendar Singh, AVP – Devices Research, IDC. SEE ALSO: <a href="https://www.businessinsider.in/entertainment/news/jiostar-announces-plans-starting-at-15-heres-everything-you-need-to-know/articleshow/115326701.cms">JioStar announces plans starting at ₹15 – here’s everything you need to know</a> <a href="https://www.businessinsider.in/tech/news/asus-rog-zephyrus-g16-review/articleshow/115054981.cms">Asus ROG Zephyrus G16 gaming laptop review – With a big AI boost</a> <a href="https://www.businessinsider.in/business/auto/news/skoda-kylaq-suv-launched-in-india-starting-at-7-89-lakh/articleshow/115013668.cms">Skoda Kylaq SUV launched in India starting at ₹7.89 lakh</a>

Indian smartphone shipments grow 5.6% in Q3 2024, Vivo leads the market

New Delhi, <keyword id="188376" type="General" weightage="20" keywordseo="LT-Foods" source="Orion">LT Foods</keyword> Ltd on Monday reported a 64.86 per cent rise in consolidated net profit to Rs 157.26 crore for the second quarter ended September 30, helped by expansion in domestic and foreign markets. It had reported a net profit of Rs 95.39 crore for the July-September quarter a year ago, according to a regulatory filing by LT Foods Ltd, which owns basmati rice brands -- Daawat and Royal. Its revenue from operation increased 14.66 per cent to Rs 1,977.78 crore during the quarter under review. It was Rs 1,724.83 crore a year ago. The total expenses in the September quarter surged 11.94 per cent to Rs 1,792.33 crore. Its total income in the September quarter rose 15.02 per cent year-on-year to Rs 1,991.81 crore. LT Foods Managing Director and CEO Ashwani Arora said: "Our ongoing efforts to expand our presence in India and International markets have yielded substantial results, with our total business growing by 13 per cent during H1 FY24 and profit after tax (PAT) grew by 55 per cent". LT Foods is a leading player globally in the speciality rice and rice-based foods business. Over the outlook, Arora said in response to the evolving consumer trends and preferences, LT Foods will grow its core business and innovate and introduce new product offerings diversifying its product portfolio. "We are confident of continued improvement in our performance over the long term and in our ability to deliver consistent, sustainable, profitable, and responsible growth," he said. Shares of LT Foods Ltd on Monday were trading at Rs 162.25 on BSE during the afternoon, down 0.46 per cent from the previous close.

LT Foods Q2 2023-24 net profit rises 64.8% to Rs 157.26 cr

<ul><li><keyword id="6354919" type="General" weightage="20" keywordseo="LT" source="Orion">L&amp;T</keyword>’s board approved a buyback at a maximum price of ₹3,000 per share for an aggregate consideration of up to ₹10,000 crore.</li><li>Special dividend was announced to mark the end of A M Naik’s tenure with the company. </li><li>Stress in core segment margins will continue for next two quarters as it carries post-Covid, post-war overhang. </li><li></li></ul>Infrastructure major <keyword id="45475" type="General" weightage="20" keywordseo="Larsen-Toubro" source="Orion">Larsen &amp; Toubro</keyword>’s (L&amp;T) Q1 consolidated net profit went up by 46% to ₹2,493 crore, from ₹1,702 crore in the same quarter last year. It also said the board of directors approved a share buyback at the maximum price of ₹3,000 each for an aggregate consideration of up to ₹10,000 crore. The proposal is subject to the approval of shareholders. The board also approved a special dividend of ₹6 per equity share to mark the end of chairman A M Naik’s extraordinary tenure with the company, said R Shankar Raman, L&amp;T's CFO said in an earnings conference call. Naik will retire as the non-executive chairman of the company in September this year, after which the current CEO &amp; MD S N Subrahmanyan will take over as its executive chairman and MD. Revenue guidance unchanged L&amp;T’s consolidated revenues went up 34% to ₹47,882 crore for the quarter, from 35,853 crore in Q1 of FY23. The company said that it was primarily aided by the execution of a healthy order book in its projects and manufacturing portfolio. However, Raman refused to change the goalpost of the revenue guidance of 12-15% given for FY24. “If all goes well, we will be at the upper end of the guidance,” he said. The company received orders worth ₹65,520 crore at the group level during the quarter, registering a y-o-y growth of 57%. International orders at ₹27,646 crore during the quarter comprised 42% of the total order inflow. The company said that orders were received across diverse segments like rail, renewables, rural water supply, transmission &amp; distribution, IT &amp; office space and onshore and offshore verticals of the hydrocarbon business, during the quarter. The consolidated order book of the group is at ₹4,12,648 crore as on June 30, 2023, with international orders having a share of 29%. “Capex buoyancy in India Gulf Cooperation Council is providing the much-needed tailwinds for growing our projects &amp; manufacturing portfolio, ably supported by the resilient performance of the services businesses,” said S N Subrahmanyan, CEO &amp; MD, Larsen &amp; Toubro. Core segment margins to remain stressed in near term Its infrastructure segment saw order inflows of ₹40,051 crore, double what was recorded in the same quarter last year. The EBITDA margin of the segment during the quarter, however, reduced to 5.1% vis-à-vis 6.5% recorded in the corresponding quarter. The infrastructure business orders that were executed during the quarter were won in the second half of FY22 and FY23. The pricing of these orders factors in inflationary trends seen in the post-Covid, post-War period, Raman said explaining the margin squeeze seen in the segment during the quarter. He added that this segment’s margins will continue to be subdued for the next quarter or two. “Improvement in margin trajectory will be seen only in Q4. In fact 2024-25 will be a far healthier period,” Raman said. In its outlook, the company said that major economies are turning around the corner. Major oil producing nations continue to invest in oil &amp; gas, industrialisation and energy transition initiatives, which will augur well for the company’s projects business. L&amp;T said that in the backdrop of this mixed sentiment, its focus will remain on cash generation and judicious capital allocation. “The company has a robust order prospects pipeline in the medium term and is confident of sustaining its growth momentum by utilising the emerging opportunities, with an overarching aim of improving shareholder value on a sustainable basis,” it said in a press release.

L&T’s Q1 net profit jumps 46%; board approves ₹10,000 crore share buyback

<ul class="summary-list"><li><keyword id="20049748" type="General" weightage="20" keywordseo="Alphabet" source="keywords" meta.keywordsubtype="org" meta.entityname="Alphabet" meta.hostid="261" meta.entityid="Alphabet">Alphabet</keyword> is joining its tech peers like Microsoft, Apple, and Meta in the <keyword id="20047030" type="General" weightage="20" keywordseo="dividend" source="keywords">dividend</keyword> club.</li><li>Its $0.20 dividend is its first ever, and it also authorized an additional $70 billion in buybacks.</li></ul>Alphabet is becoming a member of the dividend club.In its first-quarter earnings report on Thursday, Google's parent company said it's issuing a $0.20 per share dividend, its first ever.It'll be paid on June 17 to stockholders of record as of June 10, and Alphabet plans to pay quarterly dividends in the future, the earnings <a target="_blank" href="https://abc.xyz/assets/91/b3/3f9213d14ce3ae27e1038e01a0e0/2024q1-alphabet-earnings-release-pdf.pdf">release said</a>. The company also authorized an additional $70 billion in stock buybacks.Its earnings also helped buoy the shares. It reported total revenue of $80.54 billion in the first quarter, beating estimates. That's about a 15% year-over-year increase.Following the news, Alphabet's stock rose roughly 13% in after-hours trading.It joins fellow tech companies like Microsoft, Apple, and Meta in issuing dividends. <a target="_blank" href="https://www.businessinsider.com/metas-profits-first-ever-dividend-2024-2">Meta announced a dividend</a> of $0.50 per share, also its first ever, in February, as well as its own buyback boost of $50 billion.Alphabet's announcement — and that of Microsoft, which also beat estimates — could help ease tech investors spooked by <a target="_blank" href="https://www.businessinsider.com/meta-stock-facebook-quarterly-earnings-call-report-live-updates-2024-4">Meta's earnings call</a> earlier this week.Despite its earnings beat, Meta's shares fell 11% on Thursday after the company issued weak revenue guidance for Q2.The earnings report showed <a target="_blank" href="https://www.businessinsider.com/meta-earnings-report-ai-increasing-cost-2024-4">Meta is going to spend more than expected this year</a>, too, due to AI investments as well as higher infrastructure and legal costs. On Wednesday's earnings call, <a target="_blank" href="https://www.businessinsider.com/meta-q1-results-ai-investment-payoff-mark-zuckerberg-2024-4">Meta CEO Mark Zuckerberg warned investors</a> it could be a while before the company's AI investments pay off.Meantime, Alphabet CEO <keyword id="164502" type="General" weightage="20" keywordseo="sundar-pichai" source="Orion">Sundar Pichai</keyword> said in its earnings release that "our leadership in AI research and infrastructure, and our global product footprint, position us well for the next wave of AI innovation."

Alphabet's new dividend is helping reassure Meta-spooked tech investors

<ul class="summary-list"><li>Earnings likely grew for the fifth consecutive quarter in Q3.</li><li>Top strategists are eyeing 2025 results ahead of what's likely a mid-single-digit advance.</li></ul>Corporate earnings are on pace for their best non-pandemic year since 2018, and market strategists expect the party to continue in the upcoming earnings season and into 2025.Interest rates and inflation have been investors' primary concerns this year, and <a target="_blank" href="https://www.businessinsider.com/labor-market-indicators-recession-warning-signs-bca-research-berezin-2024-9">worries about the labor market</a>, <a target="_blank" href="https://www.businessinsider.com/economy-jobs-report-sentiment-consumers-elections-recession-inflation-mortgage-rates-2024-9">growth</a>, and <a target="_blank" href="https://www.businessinsider.com/rates-pandemic-lows-inflation-supply-chain-geopolitical-bofa-mensah-2024-10">rising geopolitical tensions</a> have also sucked up plenty of oxygen — even though economists generally agree that a recession isn't imminent.Through all that noise, S&amp;P 500 profits have steadily risen and are set to end the year up 9.5%, <a target="_blank" class="" href="https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_092724.pdf">according to Factset</a>. That's the biggest jump for earnings in six years, other than 2021's robust recovery. Analysts believe 2025 will be even better, with growth of nearly 15% in the cards.<div type="image" title="2024 earnings as of Q2" height="822" width="1424" msid="113984264" hostid="261" sizebytes="55446"></div>Business Insider spoke with six investment chiefs, strategists, and money managers about the earnings and economic trends to watch in the Q3 earnings season and 2025 — plus how investors can position their portfolios for success.<h2 id="cb45912e-0004-415b-94ba-d8fc7736b77e">Q3 earnings will give clues about consumers</h2>Barring a major surprise, investors will learn starting in mid-October that earnings rose for the fifth straight quarter. Profits grew 4.6% in Q3, <a target="_blank" class="" href="https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_092724.pdf">according to Factset's latest projections</a>, though that would be down substantially from the 7.8% mark that analysts called for at the end of June.However, analysts have a <a target="_blank" href="https://www.chicagobooth.edu/review/why-do-analysts-low-ball-earnings-forecasts">habit of underselling earnings</a>. Nearly 79% of S&amp;P 500 firms beat Q2 estimates — partially due to a low bar, though results were quite strong at 11.2% growth.<div type="image" title="Factset beat rate Q2 2024" height="822" width="1424" msid="113984261" hostid="261" sizebytes="37156"></div>"What we've seen over the past few quarters, I really wouldn't describe as 'blowout growth' that sets up for disappointment going forward," said Mike Reynolds, Glenmede's vice president of investment strategy. Mid-single-digit to low-double-digit growth is "pretty sustainable," he added.<div type="image" title="Factset Q2 2024" height="822" width="1424" msid="113984259" hostid="261" sizebytes="29018"></div>Profit margins will be in the crosshairs since <a target="_blank" href="https://www.businessinsider.com/inflation-august-consumer-price-index-federal-reserve-rate-cuts-2024-9">inflation is slowing</a>, said Anthony Saglimbene, the chief market strategist at Ameriprise Financial. He's also keeping a close eye on signs about the strength of consumer spending, or lack thereof, <a target="_blank" href="https://www.businessinsider.com/inflation-wage-growth-investing-strategy-stocks-to-buy-goldman-sachs-2024-9">as wage growth dissipates</a>."There's been a lot of pricing power — not only in technology, but across a lot of the services and goods sides of the equation," Saglimbene said. "Can you hold profit margins in an environment where maybe your costs are becoming more stable, but demand is starting to slow?"Demand is either softening or steadfast, depending on your perspective. Joe Quinlan — who's head of markets strategy at Merrill and Private Bank, Bank of America — recently remarked that there's a strikingly wide gap between high-income households and those who aren't well off.The strategy chief recently wrote that a mere 4.4% of US households make up 15% of personal consumption, which is the <a target="_blank" href="https://fred.stlouisfed.org/series/DPCERE1Q156NBEA">backbone of GDP</a>. The rich are disproportionately driving economic growth because of the wealth effect, which means they're confident since stocks are rising. Meanwhile, Quinlan noted that <a target="_blank" href="https://news.gallup.com/poll/266807/percentage-americans-owns-stock.aspx">roughly 40% of US households don't own stocks</a>."They're the ones — the lower-income households — definitely feeling the squeeze of higher prices. I know inflation has come down when we look at the metrics, but prices for food, rent, insurance — they're still elevated," Quinlan said, adding that this is limiting disposable income.Although weakness among lower-income households is troubling, strategists don't think it will show up in corporate earnings since consumers broadly are holding up."The consumer is pretty healthy," Reynolds said. "There's maybe some warning signs on the margin on credit-card balances and delinquencies, but it's really not enough to break the camel's back on earnings."<h2 id="e9ed5200-3a27-426c-b63a-a65a628a84e6">Why earnings will thrive in 2025</h2>Although investors have only seen about half of 2024 earnings, which are on track to rise 10%, it's already time to look to 2025."As the year continues, I do think it's not about earnings for this year — it's the trajectory of earnings for next year," said Andrew Slimmon, a lead portfolio manager at Morgan Stanley Investment Management.<div type="image" title="Factset 2024 earnings" height="822" width="1424" msid="113984262" hostid="261" sizebytes="29164"></div>Corporate profits should stay strong and can potentially improve, strategists say, provided that the US economy doesn't slow too much."If the macroeconomic picture holds together, there's an expectation that we should see a bit of a re-acceleration in earnings growth," said Jim Baird, chief investment officer at Plante Moran Financial Advisors.Quinlan agrees and predicted that "earnings will reflect the dynamic and resiliency of the US economy that we just closed the quarter on."Michael Smith, the head of the growth equity team at Allspring Global Investments, said his research also indicates that companies are healthy, at least compared to a few years ago."We talk to our companies quite frequently and do our own work talking to their customers and suppliers, and we really feel like there are still some pockets of strong demand through our economy," Smith said.And even if economic growth comes in light, corporate earnings won't necessarily suffer."There's not always a one-for-one relationship between economic growth and earnings growth," Reynolds said. "You can still see earnings growth at a pretty robust level, even if economic growth moderates to some extent. So again, there's correlation there, but definitely not direct causation."Bears have <a target="_blank" href="https://www.businessinsider.com/stock-market-crash-bubble-sp500-outlook-valuations-1929-2000-hussman-2024-9">long warned that this market is overvalued</a>, but unless earnings suddenly plummet, Slimmon suggested that those fears are overstated."As long as Q3 of this year is OK, I think that's where we're going to start next year with close to $280 earnings estimates for the S&amp;P," Slimmon said. "And that is supportive of a stock market that trades kind of closer to 6,000."Analysts' estimates may be ambitious, Saglimbene said. He suspects that Q4 expectations will recede alongside projections for Q1 and Q2 of 2025, though that often happens before quarters."That could be a little bit of a headwind for the market," Saglimbene said. "But again, if we're growing and profits are growing year-over-year, I think the market will look past some of that."Saglimbene later added: "We might not grow by 15% next year in an environment where the economy's growing 2%, but we might grow 7% or 8%. That's a normal earnings growth kind of environment, and I think that's enough to continue to push the market higher."<h2 id="06369d93-53a3-422f-8a02-436b2da92292">3 top places to invest heading into Q3 earnings</h2>When asked which parts of the market look most attractive, strategists consistently identified three sectors: communication services, healthcare, and technology.Large-cap growth stocks have carried the market higher for years thanks to their supercharged earnings. But that has changed in recent months, Saglimbene noted.The strategy chief expects to see broader profit growth, especially in economically sensitive sectors like consumer discretionary, financials, industrials, materials, and real estate. They may also have more upside since they're cheaper."The areas that have not seen the best profit growth, like cyclicals outside of technology, their profit growth trends could actually improve more than expected because the economy is not headed for recession, because growth is remaining positive, because consumers are still spending," Saglimbene said.Smith agrees that industrials and consumer-focused sectors are worth a look, as are tech and healthcare companies. His investing strategy is centered around finding growth stocks on the so-called "right side of change" that also happen to be discounted. He said he's found more opportunities in small- and <a target="_blank" href="https://www.businessinsider.com/stocks-to-buy-2025-mid-caps-investing-outlook-goldman-sachs-2024-9">mid-sized stocks</a> lately."Money has to find a home somewhere, and it tends to flow to where it gets treated the best," Smith said. "Right now, the relative opportunity is down-cap."

Here's how to invest in the Q3 earnings season as profits re-accelerate despite misplaced recession myths

<ul class="summary-list"><li>Taiwan Semiconductor Manufacturing Company just reported a 54% rise in third-quarter net profit.</li><li>TSMC's growth was driven by strong demand for artificial intelligence technology.</li></ul>Chip giant <a target="_blank" class="" href="https://investor.tsmc.com/english/encrypt/files/encrypt_file/reports/2024-10/d00bfb55ffe01e36f56863f975e88d827f9943e8/3Q24EarningsRelease.pdf">Taiwan Semiconductor Manufacturing Company</a> just reported strong growth, thanks to continued enthusiasm for artificial intelligence — even amid persistent questions over the <a target="_blank" class="" href="https://www.businessinsider.com/ai-return-investment-disappointing-goldman-sachs-report-2024-6">return on investment</a> from the technology.TSMC, the world's largest contract chipmaker, reported a forecast-beating 54% rise in third-quarter net profit to a record 325.3 billion New Taiwan Dollars, or $10.1 billion. Analysts had expected the company to post a profit of 300.2 billion New Taiwan dollars, according to LSEG SmartEstimate.The chipmaker's third-quarter revenue rose 36%, to $23.5 billion, which also beat its previous forecast of $22.4 billion to $23.2 billion. The company is forecasting fourth-quarter revenue of $26.1 billion to $26.9 billion — up from $19.6 billion in the same period last year.The Taiwanese company's blockbuster results came after Dutch chip equipment maker ASML — a supplier to TSMC — reported guidance on Tuesday that disappointed investors and triggered a sell-off in chip stocks.One of first questions at TSMC's Thursday analysts' earnings call was whether there's an AI bubble.CC Wei, TSMC's chairman and CEO, said that the demand for AI "is real."Wei said TSMC's experience in using AI and machine learning in its fabs and R&amp;D operations has enabled greater productivity — a tangible return on investment."We cannot be the only one company that has benefited from AI applications," said Wei, adding that the demand trend has just started.TSMC's share price in Taiwan closed 0.96% lower on Thursday, but the stock is up nearly 75% this year-to-date and near its all-time high.TSMC's strong Q3 results show the AI spending party is still on, despite fears to the contrary.As Goldman Sachs asked in a June <a target="_blank" rel=" nofollow" href="https://www.goldmansachs.com/intelligence/pages/gen-ai-too-much-spend-too-little-benefit.html">report:</a> "Will this large spend ever pay off?"In August, AI chipmaker <a target="_blank" class="" href="https://www.businessinsider.com/nvidia-q2-earnings-ai-investors-expectations-2024-8">Nvidia</a> sparked jitters in the market when its earnings beat estimates but did not meet lofty market expectations amid nervousness over the return on AI investments.TSMC investors appear to be convinced immediately after its earnings call. <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/tsm-stock">TSMC</a> American Depositary Receipts on the New York Stock Exchange jumped over 7% in after-hours trade following its earnings announcement.<h2 id="92427aba-6a9e-4936-bd87-7b6ffc4a688e">ASML: China demand is normalizing from a high</h2>TSMC's upbeat results contrasted with those from <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/chipmakers-tumble-asml-guidance-semiconductor-nvidia-chip-growth-2024-10">ASML.</a>On Tuesday, the company slashed sales guidance for 2025, sending its stock down 16% in its largest single-day drop in 26 years. The stock extended losses on Wednesday to close 5.1% lower and was 7% lower year-to-date."While there continue to be strong developments and upside potential in AI, other market segments are taking longer to recover," Christophe Fouquet, the CEO of ASML, said in a <a target="_blank" class="" href="https://www.asml.com/en/news/press-releases/2024/q3-2024-financial-results-dd3ac76a9d4d0f8c">statement on Tuesday.</a>On Wednesday, Roger Dassen, ASML's CFO, said US export restrictions are also expected to contribute to lower sales going forward."We all read newspapers, right? We all see that there is speculation around export control. That is a driver for us to take a more cautious view on the China sales," said Dassen.China is an important ASML customer, accounting for around a quarter of its total net sales <a target="_blank" class="" href=" https://edge.sitecorecloud.io/asmlnetherlaaea-asmlcom-prd-5369/media/project/asmlcom/asmlcom/asml/files/investors/financial-results/a-results/2023/2023-annual-report-based-on-us-gaap-m7rf6.pdf">in 2023</a> — even though ASML has never sold its most advanced chip machines to Chinese customers, due to existing export restrictions.China has been <a target="_blank" class="" href="https://www.businessinsider.com/china-imports-trade-war-biden-tariffs-chips-demand-economy-2024-8">stockpiling tech products,</a> including ASML machines, in anticipation of more export restrictions. But ASML still expects sales to China to drop to one-fifth of its total revenue next year, which Dassen said is "normal."It's "entirely reasonable" for ASML to have some adjustments to its guidance because its guidance range for 2025 was made during its Investor Day in 2022, Andy Li, a senior analyst for semiconductors and tech at CreditSights, told Business Insider.But it doesn't mean AI demand is fizzling."I don't think you can view this as having meaningful read-through to near-term demand for AI, though order growth expectations for ASML were a bit too aggressive and valuation stretched," said Li.

Chip giant TSMC reports blockbuster results even as questions over AI mania loom 

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Good morning. The FBI said it is investigating "<a target="_blank" href="https://www.businessinsider.com/trump-shots-fired-florida-golf-course-2024-9">what appears to be an attempted assassination</a>" of former President Donald Trump. Trump was uninjured following shots that were fired near his golf course in West Palm Beach, Florida, on Sunday, according to his campaign and the US Secret Service.<a target="_blank" rel="noopener" href="https://www.businessinsider.com/who-is-ryan-wesley-routh-second-trump-assassination-attempt-suspect-2024-9">Here's what we know about the shooting suspect</a>, who is in law enforcement custody.Meanwhile, in today's newsletter, we're looking at how AWS is ramping up its sales team <a target="_blank" href="https://www.businessinsider.com/amazon-ai-sales-machine-aws-google-microsoft-pressure-pay-speed-2024-9">to pitch customers on AI</a>.What's on deck:<ul><li>Markets: It's not legal, but that doesn't stop the rich from doing it to <a target="_blank" href="https://www.businessinsider.com/white-collar-fraud-wealthy-class-tax-evasion-insider-trading-2024-9">keep their fortunes growing</a>.</li><li>Tech: He oversees a Google cofounder's fortune. <a target="_blank" href="https://www.businessinsider.com/larry-page-family-office-koop-ceo-wayne-osborne-wealth-management-2024-9">Now his playbook is for sale</a>.</li><li>Business: Welcome to a new era of jobs: <a target="_blank" href="https://www.businessinsider.com/what-is-portfolio-career-pros-cons-income-streams-side-hustles-2024-9">the portfolio career</a>.</li></ul>But first, coffee is for closers.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">Sell, sell, sell</h2><div type="image" title="Amazon Web Services CEO Matt Garman surrounded by AWS Logo, and graph with upward trending line" height="1000" width="2000" msid="113399088" hostid="261" sizebytes="117946"></div>When it comes to the AI revolution, building is only half the battle.After drawing scrutiny from investors about their massive investments in generative AI, tech companies are prioritizing getting returns on their big bets.At Amazon Web Services, that's meant a new <a target="_blank" href="https://www.businessinsider.com/amazon-ai-sales-machine-aws-google-microsoft-pressure-pay-speed-2024-9">internal sales campaign focused on its AI offerings</a>, writes Business Insider's Eugene Kim.The three-pronged strategy, dubbed "Find One, Launch One, Ramp One," is about selling, installing, and generating revenue for Amazon's AI assistant, Q, and AI platform, Bedrock.A key piece of the plan is obviously AWS' salespeople, who are being incentivized with performance bonuses tied to Q and Bedrock and even a pizza party at an executive's home for top performers. (I'd probably just opt for the cash.)But it's not just salespeople getting in on the action. Staffers meant to implement tools with customers or craft the right cloud service for a client are now being encouraged to get more involved in the sales process.An AWS spokesperson told Eugene the company is merely responding to their customers' needs, and that the lines between salespeople and non-salespeople are still clear.<div type="image" title="Amazon, OpenAI and Microsoft logo." height="900" width="2000" msid="113399092" hostid="261" sizebytes="52140"></div>AWS' pressure to ramp up AI sales isn't just focused on ROI.While it's long been a leader in the public cloud space, Amazon hasn't held the same dominance in the AI race. In particular, it's faced stiff competition from rival Microsoft, which benefited from its early bet on OpenAI.As a result, AWS has become more aggressive with its AI strategy, <a target="_blank" href="https://www.businessinsider.com/amazon-aws-sales-guidelines-spread-doubt-about-openai-ai-capabilities-2024-8">spreading doubts about its competitors to customers</a>.But apart from all the fighting over customers and the push to create cutting-edge tools, a bigger question remains: Does anyone even want this stuff?It's still early days, but <a target="_blank" href="https://www.businessinsider.com/pharma-cio-cancelled-microsoft-copilot-ai-tool-2024-7">Microsoft</a>, <a target="_blank" href="https://www.businessinsider.com/amazon-q-ai-early-challenges-aws-chatbot-2024-9">Amazon</a>, and <a target="_blank" href="https://www.businessinsider.com/google-gemini-woke-images-ai-chatbot-criticism-controversy-2024-2">Google</a> have all previously gotten some not-so-great feedback on their tools. And while these companies can't afford not to pitch their customers on AI tech, they also risk turning them off to the idea by selling them products that might not live up to expectations.I don't mean to sound naive. I am well aware this is a business that needs to make money. And sometimes not doing something can be just as risky as rushing into something.But it's a fine line to balance for tech companies banking on AI being the industry's next gold mine.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>Welcome to interest-rate cut week: Here's how the Fed's next move will impact <a target="_blank" href="https://www.businessinsider.com/interest-rate-cuts-decision-this-week-federal-reserve-powell-inflation-2024-9">everything from home prices to new cars loans</a>.</li><li>Here are the <a target="_blank" rel="noopener" href="https://www.businessinsider.com/2024-emmy-winners-list-nominees-76th-primetime-awards">2024 Emmy winners</a>.</li><li>Trump's favorite hobby presents a <a target="_blank" rel="noopener" href="https://www.businessinsider.com/trump-golf-course-shooting-secret-service-challenges-assassination-attempt-2024-9">'nightmare' security challenge</a>, former Secret Service agent says.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="A collage showing a businessman along with the definiition of embezzlement and tax evasion." height="1000" width="2000" msid="113399097" hostid="261" sizebytes="219896"></div><ol><li>What's hot in white collar crime. These are the <a target="_blank" href="https://www.businessinsider.com/white-collar-fraud-wealthy-class-tax-evasion-insider-trading-2024-9">most common illegal maneuvers</a> the rich use to get richer, according to defense attorneys. The top of the list may not surprise you — after all, Martha Stewart, Al Capone, and "The Situation" got busted for the same one.</li><li>Clouds roll over the Sunshine State's housing market. It's getting harder and harder to enjoy living in Florida. Once among the pandemic's hottest housing markets, the state is increasingly expensive, hot, and crowded, residents say. <a target="_blank" href="https://www.businessinsider.com/florida-housing-market-sales-weather-climate-change-retirement-pandemic-costs-2024-9">Expect gray days for Florida's real estate</a>.</li><li>Starting a hedge fund? Don't do this. Hedge fund launches are on the rise, but the funding environment is mixed. Two top Morgan Stanley bankers broke down common early mistakes <a target="_blank" href="https://www.businessinsider.com/morgan-stanley-prime-brokerage-novick-shaw-startup-hedge-fund-mistakes-2024-9">and what to do instead</a>.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Photo collage of Wayne Osborne and Google co-founder Larry Page, surrounded by Google search elements, the Google logo, falling money, yachts, and private islands" height="1500" width="2000" msid="113399090" hostid="261" sizebytes="172450"></div><ol><li>For sale: the sacred playbook of Larry Page's money man. Wayne Osborne has been the keeper of the keys to the Google cofounder for years. Now, he's stepping out of the shadows with his own wealth management company to put his trade secrets to work for other clients. Insiders say the goal is to <a target="_blank" href="https://www.businessinsider.com/larry-page-family-office-koop-ceo-wayne-osborne-wealth-management-2024-9">dominate wealth management</a> the way Page dominated online search.</li><li>How Elon fumbled Twitter — and apparently gave Grimes' baby name to his other child. A new book by Ryan Mac and Kate Conger unearths new details about the chaotic period in 2022 when Musk decided to buy Twitter, and its descent into ~whatever it is now~. <a target="_blank" href="https://www.businessinsider.com/elon-musk-grimes-baby-name-new-book-character-limit-2024">They spoke to BI about what they found</a>.</li><li>Google's feeling lucky. The online search giant dodged a jury trial in its big adtech case, thwarting the Justice Department's hopes. The juryless trial came with a price tag, though: <a target="_blank" href="https://www.businessinsider.com/google-dodged-jury-advertising-antitrust-trial-with-check-damages-2024-9">$2,289,751, to be exact</a>.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="A smaller and duller city next to a bright and shiny larger city" height="1500" width="2000" msid="113399086" hostid="261" sizebytes="433752"></div><ol><li>Why you probably hate your downtown. There are two versions of the American downtown: one is designed to serve office workers and tourists, and the other is more local-centric, with plenty of housing, schools, and local businesses. Ironically, <a target="_blank" href="https://www.businessinsider.com/2-kinds-of-cities-explains-why-you-hate-your-downtown-2024-9">tourists prefer the latter</a>, but many cities are still depending on the former to revive their economies.</li><li>Meet the portfolio career. We've entered a new era of work where more people are becoming overemployed and diving into multiple sides of hustles instead of the traditional 9-to-5. There's a lot of flexibility and earning potential when it comes to a portfolio career, but <a target="_blank" href="https://www.businessinsider.com/what-is-portfolio-career-pros-cons-income-streams-side-hustles-2024-9">it's not for everyone</a>.</li><li>Hollywood's bleeding under post-strike pressures. Despite gains in wages and benefits won after last year's Hollywood writers' and actors' strikes, <a target="_blank" href="https://www.businessinsider.com/tv-shows-bounce-back-new-rules-bring-pain-hollywood-points-2024-9">the industry is still struggling</a>. Spending on new content has significantly declined, and everyone's biting their nails over AI.</li></ol><h2 id="1ad7b482-3f4b-44b4-81b6-a864aa386478">In other news</h2><ul><li>I went to Big Lots and saw why the chain is <a target="_blank" href="https://www.businessinsider.com/big-lots-felt-like-stepping-back-in-time-retail-discount-2024-9">closing stores and filing for bankruptcy</a>.</li><li>How Bear Grylls spends his 5 to 9 — <a target="_blank" href="https://www.businessinsider.com/bear-grylls-daily-routine-barefoot-walks-cold-plunges-plenty-meat-2024-9">from walking barefoot outdoors to cold plunges</a>.</li><li>Meet the 10 biggest wealth gainers this year — <a target="_blank" href="https://www.businessinsider.com/wealth-gain-rich-list-billionaires-nvidia-huang-meta-zuckerberg-buffett-2024-9">who've added a combined $360 billion to their fortunes in 2024</a>.</li></ul><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>Kamala Harris meets with Teamsters leaders.</li><li>Court hearing in TikTok's challenge to a Biden administration law forcing the app's sale or ban.</li><li>The Booker Prize for Fiction shortlist nominees are announced.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Hallam Bullock, senior editor, in London. Milan Sehmbi, fellow, in London. Amanda Yen, fellow, in New York.

You Searched For "LT Tech Q2 results" and got 7 results

Indian smartphone shipments grow 5.6% in Q3 2024, Vivo leads the market

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LT Foods Q2 2023-24 net profit rises 64.8% to Rs 157.26 cr

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L&T’s Q1 net profit jumps 46%; board approves ₹10,000 crore share buyback

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Alphabet's new dividend is helping reassure Meta-spooked tech investors

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Here's how to invest in the Q3 earnings season as profits re-accelerate despite misplaced recession myths

James Faris

Chip giant TSMC reports blockbuster results even as questions over AI mania loom

Huileng Tan

The race in Big Tech to sell customers on AI products is heating up

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