Sony said shipments of its Xperia smartphones were strong in the September quarter, but weak camera and PC sales coupled with the flop of its big-budget feature “White House Down” dragged the Japan-based giant into the red once again. The company on Thursday posted its results for the fiscal second quarter, during which it lost about $196 million on sales that grew nearly 11% on-year to $18.1 billion thanks to the weakening yen. Sony warned that its electronics business is weakening more quickly than it expected, however, as TV and PC sales continue to slow. The company still forecasts a full-year profit of about $300 million thanks in part to its upcoming PlayStation 4 launch, though that estimate is down 40% from the $500 million profit Sony projected earlier this year.
Facebook’s third-quarter results blew out Wall Street expectations as the company earned $0.25 per share on $2.02 billion in revenue. Though it wasn’t quantified, there’s one number that’s scaring Facebook, and investors: teens using the service less. The company noted that ended the quarter with 1.19 billion monthly active users, 728 million daily active users. But a key segment, teenagers, are engaging with the service less. CFO David Ebersman said that while engagement from U.S. teens was stable from the second to third-quarters, he did note “We did see a decrease in daily users, especially among younger teens.” More →
Facebook delivered 18% growth of monthly active users (MAU) in its most recent quarterly earnings report — no mean feat for a company its size. But the real stunner was the growth of its mobile MAU, which soared by 45% in a year and hit 874 million in September. Mobile ad revenue is now 49% of the company’s total ad revenue. Even though Facebook’s share price has soared from below $20 to $50 in a year, the stock rocketed up by another 15% in the after hours trading as investors reacted to the numbers. The implications are clear: Facebook is about to become a mobile software company. More →
Apple reported its results for the fiscal fourth quarter on Monday and it has been on something of a roller coaster ride since then. Shares fell 4% immediately following Apple’s report as investors balked at Apple’s slowing earnings growth, which handily topped consensus estimates but missed the Street’s steep whisper numbers. Shares climbed back into the black on Tuesday morning as a number of big banks increased their price targets and fiscal 2014 outlooks, and then it spiked again on Wednesday morning following a round of positive early reviews for the new iPad Air, which launches this Friday. But where the next few quarters are concerned, several important questions are now being raised. More →
Apple posted its fiscal fourth-quarter results on Monday and Wall Street was not impressed. Apple’s results were strong indeed, however growth is slowing significantly, margins continue to slide and Apple missed FQ4 whisper numbers. Shares have recovered since dipping as much as 4% following Apple’s report though, and Apple was upgraded by a number of high-profile banks on Tuesday morning as analysts continue to look over the picture that Apple’s fiscal fourth quarter numbers paint. Charts are always a terrific way to analyze that picture effectively, of course, and mobile analyst Benedict Evans is one of the best at laying out key Apple data points and helping arrange all the data logically and thoughtfully. A few of Evans’s charts follow below and the rest can be seen in his blog post, which is linked in our source section. More →
Just in time for the sale of its handset division to Microsoft, Nokia has posted yet another net loss in its third-quarter earnings report released Tuesday. Nokia, which has reported net losses in 9 of the past 10 quarters, posted a $0.02 loss per share on revenue totaling $7.79 billion. Although Nokia’s $125.58 million net loss was narrower than the $1.27 billion loss it reported in Q3 2012, the company’s revenue has still taken an alarming 21.8% drop over the past year from revenue of $9.96 billion in Q3 2012. On the plus side, Nokia’s Lumia sales showed healthy growth on the quarter, growing by 19% year-over-year on sales of 8.8 million Lumia phones.
Apple’s earnings are always the most highly anticipated results of the season among technology companies, and this year’s September quarter is no different. The tail end of Apple’s fiscal fourth quarter caught the launch of the new iPhone 5s and iPhone 5c handsets and while they were only available for a total of eleven days in fiscal Q4, Wall Street is still expecting Apple’s results to get a nice boost from initial sales of the company’s new iPhones. Apple announced that it sold a record-smashing 9 million new iPhone 5s and iPhone 5c handsets through the devices’ first weekend of availability alone, and analysts have been raising their fourth-quarter estimates ever since. Heading into Apple’s report on Monday evening, consensus estimates were looking for Apple to post earnings of $7.93 per share on $36.8 billion in revenue, right near the top of Apple’s Q4 revenue guidance of between $34 billion and $37 billion. The numbers are now in and Apple crushed estimates, having managed a fiscal fourth-quarter profit of $8.26 per share on $37.5 billion in sales. More →
Samsung on Friday released its audited earnings report for the third quarter, confirming performance that has once again climbed to new records on the back of its Galaxy smartphone line. The electronics giant reported earlier this month that it would post an operating profit of between $9.2 billion and $9.6 billion, and the company caught the top end of that estimate. Samsung’s record $9.6 billion operating profit was up 26% from the year-ago quarter, and the company also topped its earlier record for quarterly net profit as Q3 net climbed to $7.76 billion on $55.6 billion in revenue. More →
It’s hard to beat expectations after your share price has soared from $60 to $330 in a year. Incredibly hard. Yet that is what Netflix just accomplished on Monday evening — and the company’s share price shot up another 10% during after-hours trading. The company’s Christmas-quarter guidance was spectacular. Wall Street expected earnings of 45 cents for the December quarter and Netflix just guided between $0.47 and $0.73. And according to Variety, Netflix also plans to double its spending on original programming in 2014 from its already sumptuous 2013 levels. This could leave Hulu reeling. More →
Following solid earnings in the second quarter that narrowly topped the Street’s expectations, Verizon Communications on Thursday reported its third-quarter results ahead of the bell. Analysts polled by FactSet expected the nations largest carrier to post a profit of $0.74 per share for the September quarter, and their revenue consensus sat at $30.15 billion. Verizon beat expectations, however, reporting earnings of $0.77 per share — or $2.23 billion, up more than 20% — on $30.3 billion in sales. In the same quarter last year, Verizon earned $0.64 per share on revenue that totaled $29.01 billion. The carrier said that at the end of the third quarter it was home to 101.5 million total retail connections, including 95.2 million retail postpaid connections. Verizon added 927,000 net retail postpaid connections in the quarter and postpaid churn was 0.97%. Verizon’s full press release follows below. More →
BlackBerry released its second-quarter earnings report on Friday and it’s just as bad as the company warned us it would be last week. On the quarter BlackBerry posted a GAAP operating loss of $965 million on sales of $1.6 billion, which marked a 49% year-over-year decline in revenues. After adjustments, BlackBerry’s operating loss narrows to $248 million, or $0.47 per share. As expected, the company also reported selling just 3.7 million smartphones on the quarter, which marked a huge drop from the 6.8 million smartphones it sold in the previous quarter. And finally, BlackBerry reported that its cash reserves have started to bleed out, as its $2.6 billion in reported cash marked a $500 million decline from the $3.1 billion it reported in the previous quarter. BlackBerry’s press release follows below. More →
T-Mobile’s new “uncarrier” initiatives might just be marketing gimmicks, but alongside the addition of the iPhone to the carrier’s lineup last quarter, they helped drive the biggest postpaid subscriber growth T-Mobile has seen in four years. T-Mobile on Thursday posted its second-quarter results, stating that it added 1.1 net subscribers during the quarter, including 688,000 contract customers. In the same quarter last year, T-Mobile lost 557,000 contract subscribers. Those additions were quite costly, however, and while the carrier managed a $207 million profit in Q2 2012, it swung to a $16 million loss last quarter on revenue totaling $6.23 billion, up from $4.9 billion in the year-ago quarter. More →
Nintendo shares fell 5% in Tokyo on Wednesday as the company posted June-quarter results that don’t paint a pretty picture. The company managed to swing to an $88 million net profit despite sales that fell 3.8% on-year, but Nintendo’s new Wii U console still isn’t showing any signs of life. A report from earlier this week revealed that U.K. retail giant Asda recently pulled the Wii U from store shelves, and now we know why: June-quarter sales totaled just 160,000 units globally. That figure is down by more than 50% from Nintendo’s March-quarter unit sales, and cumulative sales since the console launched last November total 3.61 million units. Nintendo hopes to sell 9 million Wii U consoles by March 2014.