Samsung And Microsoft Report Rising Profits
Samsung achieved a new quarterly profits record in its third quarter while Microsoft has also impressed with better earnings than forecast - as sales of devices dominates.
But Samsung Electronics, which is now the world's largest maker of smartphones, memory chips and televisions, credited the surge on sales of cheaper smartphones - rather than its premium products.
Chip sales and a revival in its semiconductor business also boosted the performance.
Net profit for the July-September period rose 26% over the previous year to $7.5bn (£4.6bn) - just ahead of expectations - though sales of premium smartphones were flat, having been the driver of profits growth in previous quarters.
Growth in demand for the Galaxy S4 and the Galaxy Note 3 ground to a halt during the third quarter, perhaps feeling the heat from Apple's latest models, and the firm forecast that overall smartphone sales growth would remain at less than 5% for the remainder of the year.
Samsung's mobile business contributed nearly 70% of the company's total operating profit.
However, growth in premium smartphones, the Galaxy S4 and the Galaxy Note 3, came to a halt during the third quarter, staying at the same level as the previous quarter.
Before Microsoft's earnings update attention was focused on who might succeed current boss Steve Ballmer following confirmation of his intention to retire but there was no update on the process.
Investors welcomed a 17% rise in profits and healthy forecast with shares rising almost 7% in after-hours trading.
The quarterly revenue and earnings report easily topped Wall Street forecasts, marking a healthy start to a company-wide overhaul announced by Ballmer in July that should help the software giant transform into a devices and services company.
Microsoft's first quarter net profit came in at $5.24bn (£3.23bn) while revenues topped $18bn with its Surface tablets bringing in $400m.
That was helped by a price cut to its slimmed down Surface RT model in July.
Amazon also updated the market on its third quarter progress - reporting a narrower group net loss of $41m (£25m) on stronger sales.
In the UK, the online retailer said its best sellers were dominated by big video game releases and Kindle books.