Business

US companies increasingly fish for growth overseas

By Michael Liedtke
Published July 28, 2014 3:59pm ET
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US companies increasingly fish for growth overseas
FILE - In this Jan. 17, 2014 file photo, Apple's CEO Tim Cook, left, gestures as China Mobile Chairman Xi Guohua smiles during a promotional event that marks the opening day of sales of China Mobile's 4G iPhone 5s and iPhone 5c in Beijing, China. Soaring sales of iPhones in China, Russia, India and Brazil during the April-June 2014 period helped Apple overcome softening demand for the device in the U.S. and Europe, where consumers seem to be more interested in waiting for the autumn release of a new iPhone that's expected to feature a larger screen. (AP Photo/Alexander F. Yuan, File) | Alexander F. Yuan

SAN FRANCISCO (AP) — Major U.S. companies are starting to reap their most rapid growth in fertile lands of opportunity far from home.

Technology trendsetters Apple Inc., Google Inc., Facebook Inc. and Netflix Inc. all mined foreign countries to produce earnings or revenue that exceeded analysts’ projections in their latest quarters. Prodded by the steadily rising demand for Internet access and online services in developing countries, these technology companies will likely be wading even deeper into overseas markets for years to come.

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