Expectations were high ahead of Microsoft’s fiscal third-quarter earnings report on Thursday. The PC industry saw a devastating decline in the March quarter but while its vendor partners took a big hit thanks to lackluster Windows 8 demand, industry watchers still saw Microsoft’s profit climbing 13.3% thanks to strong software sales. According to a Thomson Reuters poll of Wall Street analysts, Microsoft was expected to report earnings of $0.68 pre share, or $5.78 billion, on $20.51 billion in revenue. The numbers are now in and Microsoft bucked the PC sales trend while handily beat estimates, posting a profit of $0.72 per share, or $7.61 billion, on $20.5 billion in sales. More →
Verizon Communications posted its first-quarter earnings results on Thursday, showing solid income and revenue growth. The nation’s No.1 carrier reported EPS growth of 15.3% in the first quarter as Verizon earned $0.68 per share, or $1.95 billion, compared to $0.59 in the same quarter last year. Sales also climbed 4% to $29.4 billion, narrowly missing the Street’s $29.54 billion consensus. Smartphones accounted for 61% of Verizon’s postpaid customer base which grew by a net 677,000 subscribers in the first quarter. The carrier also said it activated 4 million iPhones during Q1 2013, beating Wall Street’s 3.5 million-unit consensus. Verizon shares climbed 1.94% during Thursday’s pre-market session. The carrier’s full press release follows below. More →
Nokia on Thursday reported its earnings results for the first quarter, during which it narrowed its losses but saw revenue and handset volumes plummet. The Finnish cell phone vendor posted a loss of -$0.03 per share, beating the Street’s EPS expectations of -$0.05, but revenue fell 20% from the year-ago quarter to $7.6 billion. Wall Street was expecting $8.61 billion in Q1 revenue. Where handset sales are concerned, Nokia’s Lumia Windows Phone shipment volume climbed to 5.6 million units from 4.4 million in the prior quarter, but overall handset volume dove 30% to 61.9 million units. In North America, Nokia shipped just 400,000 phones, down from 700,000 in the holiday quarter. Nokia shares slid more than 12% on the news.
Apple (AAPL) is set to post its results for the second fiscal quarter later this month and sell-side analysts are getting antsy yet again. RBC Capital Markets’ Amit Daryanani on Friday maintained his Outperform rating on Apple shares, but he trimmed his price target to $550 from $600 ahead of what he thinks may be a disappointing quarter for iPhone sales. More →
Apple (AAPL) is set to post its results for the second fiscal quarter on April 23rd and a new report suggests increased competition may have hurt Apple more than usual. Credit Suisse analyst Kulbinder Garcha said in a recent note to clients that competition is hurting Apple more than it has in the past, and he sees iPhone sales in the March quarter falling to 38 million units — though that figure is still up from 35.1 million iPhones in the same quarter last year. More →
Struggling smartphone vendor HTC (2498) on Monday said that expects to report its lowest quarterly profit on record for the first quarter of 2013 as the full impact of the delayed HTC One launch finally takes shape. The Taiwan-based vendor reported unaudited earnings for Q1 2013, during which net profit totalled just $2.8 million, down a shocking 98% year-over-year, on $1.4 billion in sales. HTC pointed to the delayed release of its flagship HTC One smartphone as the cause of its catastrophic quarter. The company stated earlier that it had trouble sourcing certain components for the phone, resulting in delays. The One will now launch later this month and go head-to-head with Samsung’s (005930) Galaxy S4, sales of which are expected to total 20 million units during the phone’s first two months of availability.
Samsung Electronics (005930) on Friday posted its earnings guidance for the first quarter of 2013. The world’s No.1 smartphone vendor continued on its warpath last quarter as operating profit climbed more than 50% to approximately $7.7 billion, handily topping analysts’ estimates and setting a new first-quarter record. Revenue for the quarter was also up from roughly $40 billion in the first quarter last year to about $45.9 billion in Q1 2013. Samsung’s audited results will be posted in the coming weeks, and the company’s full press release follows below. More →
T-Mobile on Thursday reported its subscriber figures for the first quarter of 2013, when it managed to grow its branded subscriber base for the first time in four years. The nation’s No.4 carrier added 579,000 net new customers in Q1, 3,000 of which were branded customers. In the same quarter last year, T-Mobile lost 349,000 net subscribers. The carrier’s postpaid subscriber count still dropped by 199,000 last quarter, though that figure represents a significant improvement compared to the 510,000 net postpaid customers T-Mobile shed in the first quarter last year. The carrier’s full press release follows below. More →
Wall Street believes that BlackBerry (BBRY) will ship between 300,000 and 800,000 new BlackBerry Z10 smartphones during the February quarter. This is the most widely discussed number for BlackBerry’s fiscal fourth quarter, but it’s far from the most important metric. Since the Z10 was not shipping to the U.S. market and was available only in select countries for a fraction of the quarter, the Z10 shipment figure is going to be open to interpretation. Instead, the firm’s total subscriber base is the number that is going to be highly relevant. This is because in the August quarter, BlackBerry added 2 million net subscribers and in the November quarter, the company lost 1 million subscribers. Late autumn appeared to mark a dramatic turning point. The subscriber growth in emerging markets slowed down so much that it no longer was able to offset the base erosion in the U.S. and the U.K. More →
HTC’s (2498) share price dove 6% yesterday as investors fretted over whether February revenue might drop below NT$12 billion. Well, it did. In fact, it plunged all the way to NT$11.37 billion. This was a -27% decline compared to January… and January revenue was down -28% from December. That January tumble was a pretty normal seasonal drop, but this February decline definitely isn’t. As a sign of that, HTC’s January revenue was down only -7% year-on-year — meanwhile, February sales were down -44%. More →
A string of upbeat reports has sent BlackBerry’s (BBRY) stock climbing in recent months, but the end is nigh according to one industry watcher. Canaccord Genuity analyst T. Michael Walkley again tried to chase clients away from BlackBerry shares on Monday, suggesting that “modest” BlackBerry Z10 sales and big competition from the likes of Samsung’s (005930) Galaxy S IV could spell doom for BlackBerry’s stock in the coming quarters. More →
The iPhone isn’t always the savior carriers hope it will be, but T-Mobile certainly needs something to help reverse its current course. As the carrier awaits the arrival of Apple (AAPL) devices and the imminent MetroPCS merger, customers continue to jump ship and performance it taking a serious hit as a result. T-Mobile on Thursday reported Q4 revenue that sank to $4.9 billion from $5.2 billion in the same quarter a year ago, while operating income tumbled 25% to $1 billion. 515,000 contact subscribers left T-Mobile during the holiday quarter, even worse than the 492,000 contract subs it shed in the same quarter in 2011. Parent company Deutsche Telecom said it expects the MetroPCS merger to be finalized as soon as April. T-Mobile’s full press release follows below. More →
Sony (SNE) on Thursday reported its results for its third fiscal quarter ended in December, narrowing its loss to $115 million. The company posted a massive $2 billion loss in the same quarter a year earlier. The company’s operating profit came in at $496 million and revenue during the holiday quarter grew 7% year-over-year to $21 billion despite slumping TV sales; Sony’s TV division is now in its ninth consecutive year in the red. Sony maintained that it is on pace to turn a profit of $214 million for the full fiscal year, and it expects annual sales to total $70.6 billion.