Advanced Micro Devices Inc. stock jumped upwards of 30 percent to 3.41 at the start of trading Friday, bolstered by the news that AMD is working on processors for three new gaming consoles. Amid declining PC sales, AMD has turned to the video game industry to reverse slumping revenue. At the market's close Thursday, AMD's stock sat at 2.62, but after-hours trading saw a jump of 24 percent based on what analysts called a strong first quarter. Leading the charge was the potential 1.8 billion revenue from three semicustom processor "wins" for new consoles. The revenue would be spread out over the next three to four years, AMD CEO Lisa Su said on an earnings call Thursday.

Advanced Micro Devices Inc. stock jumped upwards of 30 percent to 3.41 at the start of trading Friday, bolstered by the news that AMD is working on processors for three new gaming consoles. Amid declining PC sales, AMD has turned to the video game industry to reverse slumping revenue. At the market's close Thursday, AMD's stock sat at 2.62, but after-hours trading saw a jump of 24 percent based on what analysts called a strong first quarter. Leading the charge was the potential 1.8 billion revenue from three semi-custom processor "wins" for new consoles. The revenue would be spread out over the next three to four years, AMD CEO Lisa Su said on an earnings call Thursday.

SAN FRANCISCO -- The cloud may be the future, but the specter of the PC lingers. Microsoft is the latest tech giant whose earnings say that loud and clear. Microsoft on Thursday posted substantial drops in revenue and earnings as it continues to navigate from its legacy PC business into emerging technologies -- a day after chipmaker Intel announced a 11% workforce reduction. The Redmond, Wash.-based company reported a 6% decline in fiscal third-quarter revenue to 20.5 billion. Earnings of 3.8 billion, or 47 cents per share, fell 25%in the same quarter a year ago.

Unless otherwise specified, we will refer to non-GAAP metrics on the call. The non-GAAP measures exclude the net impact from revenue deferrals and the impact of integration and restructuring charges. The non-GAAP financial measures provided should not be considered as a substitute for or superior to the measures of financial performance prepared in accordance with GAAP. They are included as additional clarifying items to aid investors in further understanding the company's third-quarter performance in addition to the impact that these items and events had on the financial results. All growth comparisons we make on the call relate to the corresponding period of last year unless otherwise noted.

SAN FRANCISCO -- The cloud may be the future, but the specter of the PC lingers. Microsoft is the latest tech giant whose earnings say that loud and clear. Microsoft on Thursday posted substantial drops in revenue and earnings as it continues to navigate from its legacy PC business into emerging technologies -- a day after chipmaker Intel announced a 11% workforce reduction. The Redmond, Wash.-based company reported a 6% decline in fiscal third-quarter revenue to 20.5 billion. Earnings of 3.8 billion, or 47 cents per share, fell 25%in the same quarter a year ago.

SAN FRANCISCO -- Google parent Alphabet reported first-quarter earnings that fell short of analyst expectations as growing losses from the tech giant's investments in speculative businesses, from self-driving cars to speedy Internet access, overshadowed Google's booming advertising business. Class A shares of Alphabet (GOOGL) fell 6% after hours to 732. They've rallied 44% in the past 12 months. "Alphabet has made it pretty clear they weren't going to stop their investments in other areas, and they spent a little bit more than some people may have liked," said BGC Financial analyst Colin Gillis. "You don't necessarily like to see costs and losses growing faster than revenue, but that's where Alphabet's future is going to be." Chief Financial Officer Ruth Porat, who joined the company last May in a hire investors hoped would curb spending, assured investors that Alphabet is "thoughtfully pursuing big bets."

Every decade or so, a new era of computing comes along that shapes everything we do. Much of the 90s was about client-server and Windows PCs. By the aughts, the Web had taken over and every advertisement carried a URL. Then came the iPhone, and we're in the midst of a decade defined by people tapping myopically into tiny screens. So what comes next, when mobile gives way to something else?

SAN FRANCISCO -- The cloud may be the future, but the specter of the PC lingers. Microsoft is the latest tech giant to learn that first-hand. Microsoft on Thursday posted substantial drops in revenue and earnings as it continues to navigate from its legacy PC business into emerging technologies -- a day after chip maker Intel announced a 11% workforce reduction. The computing giant reported a 5% decline in fiscal third-quarter revenue to 20.5 billion. Earnings of 3.8 billion, or 47 cents per share, fell from 5 billion, or 61 cents a share, in the same quarter a year ago.

As a reminder, all participants' lines will be in the listen-only mode. There will be an opportunity for you to ask questions after the presentation concludes. I would now like to hand the conference over to Mr. Aravind Viswanathan. Thank you and over to you, sir. We will begin the call with business highlights and overview by Abid, the Chief Executive Officer and Member of the Board, followed by the financial overview by our CFO, Jatin Dalal. Afterwards, the operator will open the bridge for Q&A with our management team. Before Abid starts, let me draw your attention to the fact that during this call, we may make certain forward-looking statements within the meaning of Private Securities Litigation Reform Act 1995. These statements are based on management's current expectations and are associated with uncertainties and risks, which may cause the actual results to differ materially from those expected. The uncertainties and risk factors are being explained in our detailed filings with the SEC. Wipro does not undertake any obligation to update the forward-looking statements to reflect events and circumstances after the date of filing thereof. The conference call will be archived and the transcript will be available on our website. Ladies and gentlemen, let me now hand it over to Mr. Abid. Today is the first opportunity for me to interact with all of you since I've taken over as the Chief Executive Officer of Wipro, and it's a special moment for me. While I will speak about the performance of our full quarter and the full fiscal year, I thought I will take this opportunity to begin by speaking about our ambition, our strategy and how we are going to execute this strategy. Since I got announced within two days, I was able to define and announce my structure and I had already preselected my leadership team which I announced on 6th of January, effective February 1. Over the past 80 days after I have taken over as CEO, I've had the opportunity to go around the globe and meet about 70 of our top 100 clients. And both with my leadership team and with the customers, I've had the opportunity to validate the strategy that we have been working on and this gives me a high level of confidence on the relevance of our overall strategy. Our ambition is to double our revenues to 15 billion by fiscal 2020 with a 23% operating margin.

It's a good time to be Alphabet Inc. (GOOG), the parent company of Google. The holding company that owns Google, YouTube and Android -- as well as so-called moonshots like self-driving cars, the home-networking division Nest and Google Fiber -- is expected to turn in healthy first-quarter results on Thursday, driven by its dominant position in online search and display advertising. On Wednesday, the European Commission is expected to formally charge Google for favoring its own apps and services on its Android mobile operating system, which powers more than 80 percent of the world's smartphones. That will be the latest in a decade of entanglements with regulators on both sides of the Atlantic; Google also got some bad press in Britain earlier this year for having paid just 185 million in taxes over the past decade. Also confronting Google -- and the rest of the tech industry -- is how to manage government and law enforcement requests for information.