Following RBC Capital Markets General Manager Mike Abramsky’s lead, JP Morgan analyst Mark Moskowitz on Friday raised his revenue and EPS estimates for Apple’s 2011 fiscal second quarter. RBC upped its second-quarter revenue estimate from $23 billion to $24 billion on Tuesday, citing pent up iPad demand and strong sales of the Verizon iPhone 4 and newer laptop lines. On Friday, JP Morgan’s Moskowitz wrote in a note to investors that iPhone shipments in the quarter were likely stronger than expected thanks to the launch of the Verizon model and the addition of new sales channels for the GSM version of the popular smartphone. As such, he upped second-quarter estimate from 16.6 million units shipped to 18.4 million. Moskowitz raised his revenue estimate for the quarter to $24.42 billion from his earlier estimate of $23.83 billion, and adjusted his EPS estimate to $5.39 from $5.21. Apple will report its earnings for the March quarter on April 20th.
Internet juggernaut Google has released its financial results from the first-quarter of 2011, and things are looking pretty good. The company posted revenues of $8.58 billion during the quarter — which represents a 27% increase year-over-year — with $5.88 billion of that figure being generated by Google-owned websites. The company failed to meet Wall Street’s earning expectations, however, coming in $0.03 shy of the predicted $8.11 earnings per share. “These results demonstrate the value of search and search ads to our users and customers, as well as the extraordinary potential of areas like display and mobile,” said Patrick Pichette, the company’s CFO. “It’s clear that our past investments have been crucial to our success today–which is why we continue to invest for the long term.” said Patrick Pichette, the company’s CFO. The company’s stock was trading down nearly 5% in after-hours trading at time of article writing. The full Q1 report is after the break. More →
Another analyst has cut revenue estimates for Motorola Mobility, again citing poor sales of the company’s key products as the driving force behind the downward revision. Pacific Crest analyst James Faucette on Tuesday revised his full-year 2011 revenue estimates downward from $13.7 billion to $12.25 billion. Further emphasizing his position on Motorola, he revised his full-year 2012 revenue estimates down from $15.34 billion to $13.62 billion as well. “Based on our checks, we believe overall sell-through trends for of the Xoom and Atrix have been disappointing,” Faucette said in a note to investors. “In particular, we believe Atrix’s lower-than-forecast volumes are a result of the $49 iPhone 3GS and the HTC Inspire, which kept Atrix sales well below forecast in spite of the marketing focus put on the Atrix by AT&T.” Faucette’s note follows a similar note from RBC Capital Markets analyst Mark Sue last Friday, in which he cut Motorola sales estimates for both the first and second quarters of 2011.
Ladies and gentlemen, it is with great pleasure that I inform you that U.S. wireless provider Sprint, for the first time in thirteen quarters, has reported gains in post-paid subscribers. Ending its long drought, the Now Network added a total of 1.1 million new subs; 58,000 of which were post-paid. Sprint also reported a drop in churn during its earnings call, down to 1.86 in Q4 from 2.11 in Q3. It isn’t all good news, however. The company still posted a $929 million loss on revenues of $8.3 billion in Q4, or $0.31 per share. Sprint’s stock was trading slightly higher on the news. More →
Aside from announcing a management change during this afternoon’s earnings call, Google also decided to go over its numbers for Q4 of 2010. Google raked in $8.44 billion in revenue, a 26% increase year-over-year, rewarding its investors with $7.81 earnings per share. Operating income for the quarter was $2.98 billion, or 35% of revenues — down from 37% last year — and 52% of total revenues came from overseas. Google reports $35 billion in cash, cash equivalents, and marketable securities along with 24,400 full-time employees as of December 31, 2010. Pretty solid showing from the Big G. More →
South Korean electronics powerhouse Samsung has announced its Q3 financials via a press release. The outfit raked in an impressive $35.8 billion in revenue and $3.98 billion in operating profits, and about 25% of that profit came by way of its thriving telecommunications business. Samsung chiefs were quick to credit their mobile communications wing, which shipped 71.4 million phones during Q3 — a 19% increase on last year’s figures. Samsung claims to have sold 7 million Galaxy S phones during the quarter and expects to sell 10 million by the end of the calendar year. Go on Samsung, pat yourself on the back. Press release after the break. More →
Apple’s been getting a little bit of bad press lately, but it clearly isn’t hurting their bottom line. In a press release today, the Cupertino company announced earnings for Q3 2010 ending on June 26th… and they’re impressive. The company posted revenue of $15.7 billion for the quarter with earnings per diluted share coming in at a blistering $3.51; up from $2.01/share in Q3 of last year. The company’s gross margin was 39.1% (compared to 40.9% from a year ago), and international sales accounted for 52% of the company’s quarterly revenue. Apple sold 3.47 million Mac computers (a 33% increase from Q3 of last year), 8.4 million iPhones (up 61% YoY), 9.41 million iPods (an 8% decline YoY), and 3.27 million iPads. Apple’s CFO, Peter Oppenheimer, said: “We’re really pleased to have generated over $4 billion of cash during the quarter. Looking ahead to the fourth fiscal quarter of 2010, we expect revenue of about $18 billion and we expect diluted earnings per share of about $3.44.” Glorify or vilify them, they are printing money in Cupertino these days. We’ve got the full release for you after the break. More →