After a rough month that saw Apple’s stock tumble nearly $90 from a high of $644 earlier this month to as low as $555.18 on Tuesday, Apple reported its earnings for the second fiscal quarter on Tuesday after the market closed. Following a last-minute round of panic that swept Wall Street, Apple posted a net profit of $11.6 billion, or$12.30 per share — up 94% year-over-year — on revenue of $39.2 billion, crushing the Street’s consensus. Analysts were expecting earnings of $10.06 per share on $36.81 billion in sales. Read on for more. More →
Verizon on Tuesday reported its fourth quarter 2011 results. The company noted record revenue growth during the quarter, which it said was fueled by strong demand for wireless service. Revenue for the year totaled $110.9 billion, up 4% from 2010. Its quarterly revenue of $28.4 billion was up 7.7% from the same time period last year. Verizon Wireless, a joint venture between Verizon Communications and Vodafone, reported the highest number of retail net additions in three years driven by smartphone sales. Revenues tipped at $18.3 billion during the quarter, up 13% from the same period last year. Data revenues was up even higher year over year, at $6.3 billion, up 19.2% ($1 billion) from the same period one year prior. ARPU grew 2.6% to $53.14. Verizon also reported $0.85 EPS, down from $0.90 EPS in 2010. The carrier added a total of 1 million total net connections during the fourth quarter and 1.5 million retail customers, including 1.2 million retail postpaid customers. Postpaid churn was 0.94% for the quarter. Verizon’s full press release follows after the break.
Microsoft reported its earnings for the quarter ended December 31st, 2011 Thursday and noted record revenue for its second fiscal quarter. Revenue of $20.89 billion was up 5% from the same period last year. “We delivered solid financial results, even as we prepare for a launch year that will accelerate many of our key products and services,” said Steve Ballmer, chief executive officer at Microsoft. “Coming out of the Consumer Electronics Show, we’re seeing very positive reviews for our new phones and PCs, and a strong response to our new Metro style design that will unify consumer experiences across our phones, PCs, tablets, and television in 2012.” Microsoft’s business division reported $6.28 billion in revenue for the quarter, up 3% from the same period last year. Its Server & Tools business recorded $4.77 billion in revenue, up 11% from the same period last year. The Windows and Windows Live Division, however, reported revenue of $4.74 billion, which was down 6% from the same period last year. The company’s profits were recorded at $0.78 per share, beating analyst expectations of $0.76 per share. Microsoft’s full press release follows after the break. More →
HTC on Thursday announced unaudited consolidated results for the third quarter of 2011. The company said in a statement that revenue came in at NT$135.8 billion for the quarter, up 79.07% from the third quarter last year, and unaudited net income rose 68% year-over-year to NT$18.6 billion after taxes. Operating income climbed to NT$20.2 billion in the third quarter, and HTC reported earnings of NT$22.03 per share. HTC’s brief statement to investors follows below. More →
Among the firms losing hope in Research In Motion following another dismal earnings report, Ticonderoga Securities is telling investors to be cautious with RIM. Analyst Brian White fails to see the pot of gold at the end of this rainbow, and suggests that competitors — Apple, in particular — are beating RIM to the punch. “In our view, the fall of RIMM with its ‘too-little-too-late’ BlackBerry refresh will continue to add to Apple’s momentum that we believe could be off the charts with the iPhone 5 launch,” White wrote in a note to investors on Friday. Read on for more. More →
As RIM prepares to report its earnings on Thursday for the second fiscal second quarter of 2012, all eyes are turning north following the Waterloo, Ontario-based vendor’s first-quarter report, which was something of a bloodbath. RIM’s first quarter performance wasn’t abysmal — the company did see gains in several international markets — but it missed the Street’s consensus by a wide margin, trimmed its second-quarter guidance and stated that would soon be laying off workers in an effort to streamline operations. RIM has since launched its first wave of BlackBerry 7 smartphones and while sales of its new devices won’t really be reflected in its second-quarter earnings, some analysts still believe RIM could beat Wall Street’s expectations when it reports later this week. Read on for more. More →
Samsung on Friday reported earnings for the second quarter of 2011 that showed a significant decline in profit despite modest revenue gains. Samsung’s revenue ticked up 4% year-over year to 39.44 trillion Korean won but its consolidated net income of 3.51 trillion won was a sharp 18% decline from the same quarter in 2010. The company’s semiconductor business recorded revenues of 1.79 trillion won in the second quarter, which was up sequentially from the 1.64 billion won but down from 2.94 billion won in the second quarter last year. Samsung’s LCD panel division was hit the hardest, registering an operating loss of 210 billion won on revenue of 7.09 trillion won, which was down 9% year-over-year. Samsung’s telecommunications business grossed 12.18 trillion won in the June quarter, and profit came in at 1.67 trillion won. “Despite the challenging business environment and global economic uncertainties, we achieved continued year-on-year revenue growth in the second quarter driven by mobile device sales, particularly the success of our smartphones,” said Robert Yi, Vice President and Head of Samsung Electronics’ Investor Relations Team, in a state. “Heading into the third quarter – which typically sees increased consumer demand for electronics – we expect competition to remain tight, and will continue to enhance our cost competitiveness and technology leadership in the components businesses.” Samsung stated that it will no longer report smartphone or tablet shipment figures in its earnings reports. Market analysis firm Strategy Analytics puts the company’s smartphone shipments at an impressive 19.2 million units last quarter, which would secure it a No. 2 spot globally behind Apple. The company’s full press release follows below. More →
Verizon Communications on Friday reported second-quarter earnings that topped the Street’s estimates, though it failed to match AT&T’s impressive wireless growth during the quarter. Revenue climbed to $27.5 billion in the June quarter, up 2.8% from the same quarter last year. EPS was up 6 cents sequentially to $0.57, a huge swing from the second quarter in 2010 when Verizon reported a loss of $0.42 per share. In wireless, the carrier netted 2.2 million subscribers — or “total connections,” rather — excluding gains made through acquisitions, and service revenues climbed 6.6% year-over-year. Verizon now reports total connections, which include machine to machine devices and other non-standard subscribers, and its total now sits at 106.3 million. The carrier also said that it activated 2.3 million iPhone 4 handsets in the June quarter. “In terms of earnings growth and the acceleration of revenue growth, this has been one of Verizon’s best quarters since the 2008 economic downturn,” said Verizon Chairman and CEO Ivan Seidenberg in a statement. “We expanded sequential margins in both our wireline and wireless businesses, and in the second half of the year we expect Verizon to build on this strong, positive momentum to continue to drive profitable, sustainable growth.” The company also noted that Ivan Sandberg will step down as CEO, replaced by Lowell McAdam. Sandberg will retail is his as chairman of the board. Verizon’s full press release follows below. More →
Shares of Google stock jumped more than 10% in after-hours trading following the Internet giant’s second-quarter earnings report. “We had a great quarter, with revenue up 32% year on year for a record breaking over $9 billion of revenue,” said Google CEO Larry Page in a statement. “I’m super excited about the amazing response to Google+ which lets you share just like in real life.” Google reported revenue of $9.03 billion in its June quarter, up 32% over the same quarter last year and well above the Street’s $6.5 billion consensus. EPS came in at $8.76, also well above Wall Street’s consensus of $7.86, and Google’s net income for the quarter totalled#2.85 billion, up from $2.08 billion in the second quarter last hear. Google also noted that Android activations are currently up to 550,000 devices per day, and its invite-only Google+ social network now has more than 10 million members. Google’s full press release follows below. More →
Following RIM’s first-quarter earnings release on Thursday, the company’s sixth-biggest investor confirmed that it is giving up on the Waterloo, Ontario-based BlackBerry maker. “They are resting on their laurels,” said Stephen Jarislowsky, chairman of Jarislowsky Fraser Ltd., on Friday in an interview with Bloomberg. “Steve Jobs is a much better marketer than RIM,” Jarislowsky added. “We are on the way out. The stake has been reduced by more than 50% or even more.” As of the end of the first quarter, Jarislowsky Fraser Ltd. owned 10.2 million shares of RIM stock. Earlier on Friday, RBC Capital Markets said RIM still has some fight left in it. Sadly for RIM in this instance, it looks like not everyone agrees. More →
In a note to investors, RBC Capital Markets Managing Director Mike Abramsky echoed a notice from Research In Motion that cut the company’s quarterly outlook citing lower than expected smartphone sales. RIM now expects Q1 revenue “slightly below” original guidance due to pullback in shipments of smartphones and a lower average selling price. Shares of Research In Motion are down over 10% in after hours trading. We exclusively reported that RIM might only announce one handset at the company’s BlackBerry World conference next week, as opposed to most of their upcoming product lineup.
Qualcomm on Wednesday reported its earnings for the fiscal second quarter or 2011. Strong demand for smartphones and other connected devices that utilize the company’s chips drove record revenues of $3.88 billion, up 46% over the second quarter in fiscal 2010. Operating income and net profits were up year-over-year as well; operating income was up 38% to $1.07 billion and profits were up 29% to $999 million. Compared to the first quarter of fiscal 2011 however, operating income was down 3% and profits were down 15%. Qualcomm expects continued success moving forward, and the company raised its fiscal 2011 guidance as a result. “We are pleased to report record quarterly revenues, and we are raising our revenue and earnings guidance for the year as the demand for smartphones across an array of geographies and tiers continues to grow,” said Qualcomm CEO Paul E. Jacobsin a statement. “In addition, we have resolved the second of the two previously disclosed licensee disputes. We continue to execute on our strategic priorities as our partners deploy our technologies and solutions to offer leading wireless products and services to consumers worldwide.” Hit the break for the full release. More →
Apple on Wednesday reported earnings for the second quarter of fiscal 2011. Reports from Tuesday suggesting Apple might miss iPad sales estimates were accurate as Apple reported second-quarter sales of only 4.69 units compared to 7.33 million iPads last quarter. Analyst estimates fell between 6 and 8 million iPads for the March quarter. Apple’s iPhone sold 18.65 million units globally in the second quarter compared to 8.75 million units in the same quarter last year and 16.24 million units in the first quarter of fiscal 2011. iPod sales came in at 9.02 million units, down from 10.89 million in the second fiscal quarter of 2010 and 19.45 million last quarter. Wall Street was expecting 16 million iPhones and 9.9 million iPods in the quarter. Mac sales narrowly beat the Street’s estimates of 3.6 million units, totaling 3.67 million units in the March quarter, up from 2.94 million last year and down from 4.13 million from last quarter. Revenue for the second quarter came in at $24.67 billion and Apple recorded $5.99 billion in profit, up 95% from $3.07 billion in the same quarter last year. Apple noted in its earnings call that the earthquakes in Japan will not affect Apple’s supply chain or its products in the third quarter. The company’s full press release can be seen after the break. More →