Seven charged in Dell insider trading case

By on January 18, 2012 at 4:40 PM.

Seven charged in Dell insider trading case

Seven people have been charged with trading shares of Dell stock based on inside information. Four new arrests were made by the FBI on Wednesday, Reuters said, while three others have already been charged. In total, the group made more than $62 million in profits off of illegal trades in 2008. The defendants named on Wednesday include former portfolio manager Todd Newman of Diamondback Capital Management in Stamford, Anthony Chiasson of Level Global Investors in New York and Jon Horvath. A fourth person was also arrested in Los Angeles. The four men allegedly had early access to Dell’s earnings reports ahead of the company’s public announcements and have each been charged with one count each of securities fraud and one count each of conspiracy to commit securities fraud. More →

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Hon Hai revenue jumps 19.9% in 2011

By on January 13, 2012 at 10:55 PM.

Hon Hai revenue jumps 19.9% in 2011

Taiwanese manufacturer Hon Hai reported revenue growth of 19.89% year-over-year in 2011 and 37.5% quarter-over-quarter in the fourth quarter last year, Taiwan Economic News said Friday. Hon Hai recorded $10.5 billion in revenue for the month of December, $92 billion in revenue for the year and $30.5 billion in revenue for the full fourth quarter of 2011. Hon Hai said the growth was propelled by a strong demand for new computers, phones and other consumer electronics. Analysts predict that the company, perhaps best known for its Foxconn subsidiary, which builds Apple’s tablets and smartphones, will achieve annual revenues of $100 billion in 2012. More →

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RIM reports Q1 earnings: misses analyst estimates, Q2 outlook misses, layoffs coming

By on June 16, 2011 at 4:32 PM.

RIM reports Q1 earnings: misses analyst estimates, Q2 outlook misses, layoffs coming

Research In Motion on Thursday reported earnings for the first quarter of fiscal 2012. After cutting its first-quarter outlook at the end of April, RIM’s May quarter came in below analyst estimates. First quarter revenue came in at $4.9 billion versus the Street’s estimate of $5.5 billion, and device shipments totalled 13.2 million versus expectations of 13.5 million. Net income for the quarter was $695 million, down from $769 million in the same quarter a year earlier. Earnings per share in the first quarter beat estimates by a penny at $1.33. RIM’s revenue for the quarter breaks down as 78% hardware, 20% service, and 2% software and other revenue. In the second quarter, RIM trimmed its outlook to $4.2-$4.5 billion in revenue, significantly under the Street’s consensus of $5.46 billion. RIM’s second-quarter EPS forecast is just $0.75-$1.05 versus $1.40 consensus. For the full year, RIM cut its EPS outlook from $7.50 to between $5.25 and $6 per share. “Fiscal 2012 has gotten off to a challenging start,” RIM Co-CEO Jim Balsillie said in a statement. “The slowdown we saw in the first quarter is continuing into Q2, and delays in new product introductions into the very late part of August is leading to a lower than expected outlook in the second quarter.” RIM also said it would soon begin a “program to streamline operations” that will involve job cuts. Shares of RIM stock opened down 15% in after-hours trading. RIM’s full press release follows below. More →

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Nokia reports Q1 earnings; smartphone share dips, profit dips more

By on April 21, 2011 at 9:16 AM.

Nokia reports Q1 earnings; smartphone share dips, profit dips more

Nokia on Thursday reported earnings for the first quarter of 2011, which saw the Finnish giant’s smartphone market share dip below 30% for the first time in over a decade. Nokia shipped 24.2 million smartphones in the quarter, which is up a respectable 13% over the same quarter last year. But the market outgrew Nokia by a significant margin, leaving the company’s share of global smartphone shipments at 26% for the quarter. Nokia’s revenue grew by 9% to €10.4 billion sequentially, but operating profit dipped 14% from last quarter to €704 million — a 35% decline compared to the first quarter last year. Nokia’s short-term outlook isn’t great: “Following a solid first quarter, we expect a more challenging second quarter,” said Nokia CEO Stephen Elop in a statement. “However, we are encouraged by our roadmap of mobile phones and Symbian smartphones, which we will ship through the balance of the year. We are fully focused on delivering the needed accountability, speed and results to positively drive our future financial performance.” Nokia announced that it has entered into a definitive agreement with Microsoft ahead of schedule, but this statement might lead us to believe that agreement won’t bear any fruit in 2011. Hit the break for the full press release. More →

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Apple reports Q2 earnings; iPhone beats the Street, iPad misses big, profit up 95%

By on April 20, 2011 at 4:39 PM.

Apple reports Q2 earnings; iPhone beats the Street, iPad misses big, profit up 95%

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 →

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AT&T reports Q1 earnings; iPhone activations up by 1 million in spite of Verizon iPhone launch

By on April 20, 2011 at 8:28 AM.

AT&T reports Q1 earnings; iPhone activations up by 1 million in spite of Verizon iPhone launch

AT&T on Wednesday reported its earnings for the first quarter of 2011. The report is highlighted by impressive iPhone activations that were up by almost 1 million units year-over-year to 3.6 million. Many analysts believed Verizon Wireless’ launch of the iPhone 4 in early February would have a tremendous impact on AT&T’s iPhone business, but the effects were far less significant than expected. First-quarter revenue came in at $31.2 billion, up 2.3% over the same quarter last year, but operating income dropped from $6 billion in the first quarter of 2010 to $5.8 billion in the first quarter this year. The carrier added 2 million wireless subscribers in the first quarter of 2011 for a total of 97.5 million as of the end of March. Thanks in large part to the iPhone 4, AT&T also sold a record 5.5 million smartphones in the quarter. Smartphone users now combine to comprise 46.2% of AT&T’s postpaid subscriber base, which played a large role in pushing wireless revenue up 10.2% over the first quarter in 2010 to $15.3 billion. Wireless data revenue was up by $1 billion in the quarter, and branded computing subscribers — a category that includes tablet, aircard and other data-only product users — were up about 100% over the same quarter last year to 3.4 million. AT&T only sold 322,000 tablets in the quarter, roughly 258,000 of which were booked as prepaid, further supporting the notion that first-quarter iPad sales were far less impressive than analysts had expected. Hit the jump for the full release. More →

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Sony Ericsson reports Q1 2011 results; profit cut in half on slow sales

By on April 19, 2011 at 10:36 PM.

Sony Ericsson reports Q1 2011 results; profit cut in half on slow sales

Sony Ericsson on Tuesday reported its earnings for the first quarter of 2011, during which profit fell sharply on slowed device shipments. While smartphones made up twice the number of total device sales compared to the same quarter in 2010, Sony Ericsson still only managed to ship 8.1 million devices — compared to 10.5 million in the first quarter last year. The average selling price of the company’s devices grew to €141 from €134 in the same quarter last year, but profit dropped 48% year-over-year to €11 million. Sony Ericsson did note that the earthquakes in Japan caused some disruption in its supply chain, but we’re not sure the cell phone maker was on track for a solid quarter either way. Hit the break for the full press release. More →

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HTC Q1 profit triples on demand for Android phones

By on April 8, 2011 at 8:00 AM.

HTC Q1 profit triples on demand for Android phones

HTC on Friday reported first-quarter 2011 earnings highlighted by profit that handily beat analysts’ estimates. Tremendous demand for the company’s popular Android smartphones such as the EVO 4G and ThunderBolt helped HTC record a first-quarter profit of NT$14.83 billion ($511 million) compared to analyst expectations of NT$12.99 billion. HTC said its first-quarter revenue grew 174% to NT$104.2 billion, and analysts believe continued strong demand for Android devices will help HTC’s revenue grow up to 20% in the second quarter of this year. BGR on Thursday reported that HTC’s market capitalization, which recently surpassed that of Finnish phone giant Nokia, is expected to surpass NT$1 trillion this year, making HTC only the third company on the Taiwan Stock Exchange to reach the milestone. Share of HTC stock closed down 3.33% on Friday.

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HP reports Q1 2011 earnings, lowers full-year guidance

By on February 22, 2011 at 10:03 PM.

HP reports Q1 2011 earnings, lowers full-year guidance

Hewlett-Packard on Tuesday reported its earnings for the first quarter of the company’s 2011 fiscal year, which ended on January 31st. Revenue missed Wall Street’s expectations slightly, coming in at $32.3 billion versus the Street’s projected revenue of between $32.75 and $33.59 billion. Earnings per share was up an impressive 26% year-over-year to $1.17, but it still missed the Street’s expectation of between $1.26 and $1.32 per share. Cash flow from operations was up 28% year-over-year, however, and profit was up 16% to $2.6 billion. “I’m pleased with our EPS and margin expansion during the quarter. Going forward, we have the opportunity to further capitalize on our customers’ demands for higher value-added solutions,” said HP’s CEO Léo Apotheker in a statement. “HP has a powerful portfolio, including exciting, recently announced cloud and connectivity offerings. We are focused on leveraging these strengths to extend our leadership and accelerate growth.” HP lowered its full-year revenue forecast from between $131.5 and $133.5 billion to between $130 and $131.5 billion. Hit the break for HP’s full press release. More →

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Nokia Q4 earnings: profits fall for third straight quarter, market share slides

By on January 27, 2011 at 10:21 AM.

Nokia Q4 earnings: profits fall for third straight quarter, market share slides

Nokia revealed its third consecutive decline in profits as the struggling cell phone maker reported its fourth-quarter 2010 earnings. Net sales grew 6% year-over-year to €12.65 billion, but operating profit slid 26% from €1.47 billion in the fourth quarter of 2009 to €1.09 billion. Operating profit margin in the company’s Devices and Services division was also down substantially from 15.4% in Q4 2009 to 11.3% in Q4 2010, and Nokia said it expects a further decline in the first quarter of 2011, dropping to between 7% and 10%. Smartphone shipments actually grew to 28.3 million in the fourth quarter, up from 20.8 million in the same quarter in 2009 and 26.5 million sequentially, but the market outgrew Nokia at a truly alarming pace. Despite this growth, Nokia’s share of the global smartphone market slid to 31% from 38% in the previous quarter. “The game has changed from battle of devices to war of ecosystems,” Nokia CEO Stephen Elop said on the company’s earnings call. “Our industry has changed and we have to change faster.” Hit the break for Nokia’s full report. More →

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AT&T reports Q4 earnings; 4.1 million iPhone activations, 442,000 tablet activations

By on January 27, 2011 at 9:05 AM.

AT&T reports Q4 earnings; 4.1 million iPhone activations, 442,000 tablet activations

AT&T on Thursday reported its fourth-quarter 2010 earnings, revealing a modest 2.1% year-over-year growth in consolidated revenue. Profits fell substantially to $1.09 billion or $0.18 per share in the fourth quarter of 2010, from $2.7 billion or $0.46 per share in the same quarter in 2009. Excluding unusual items, however, AT&T earned $0.55 per share — a penny above analyst estimates. The nation’s No. 2 carrier activated 4.1 million iPhone handsets in the quarter, while Apple iPad and Samsung Galaxy Tab activations came in at 442,000 combined. Net wireless subscriber additions totalled a record 2.8 million, and AT&T was home to 95.5 million wireless subscribers as of the end of the year. The carrier added 8.9 million wireless customers in 2010, its best year ever. Hit the break for AT&T’s full press release. More →

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LG reports record Q4 loss, record drop in annual profit

By on January 26, 2011 at 9:20 PM.

LG reports record Q4 loss, record drop in annual profit

Try as it may, 2010 is a year that LG Electronics will not soon forget. The struggling electronics giant on Wednesday reported its fourth quarter earnings and put the cap on its worst year on record. The company posted a fourth-quarter net loss of 256.4 trillion won compared to profits of 361.9 billion won in the fourth quarter of 2009. Operating profit for the full year was down 93% to 176.4 billion won. Revenue from cell phones dropped 15% as LG’s mobile division posted a 274.1 billion won loss. Shipments were also down 10% to 30.6 million units, pushing LG into the No. 5 spot globally behind RIM. The company will look to new high-end smartphones like the Optimus 2X, Optimus Black and Optimus 3D as it attempts to reverse its declining mobile trend. LG remains the No. 2 TV company globally, as sales in its home entertainment division increased 15.8% compared to the third quarter of this year. Because competition forced LG to drop the average selling price on its television sets, however, the company’s home entertainment business still posted an operating loss in the quarter. Hit the break for LG’s full press release. More →

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Motorola Mobility reports Q4, full year earnings; Q1 2011 guidance bleak

By on January 26, 2011 at 6:00 PM.

Motorola Mobility reports Q4, full year earnings; Q1 2011 guidance bleak

Motorola Mobility on Wednesday reported its fourth quarter and full year 2010 earnings. It also gave grim but anticipated guidance for the first quarter of 2011 as Verizon Wireless, the company’s top carrier partner, prepares to launch the iPhone 4. Motorola’s revenues were up 21% year-over-year to $3.4 billion and net revenues from the company’s Mobile Devices division grew 33% year-over-year to $2.4 billion. Smartphone shipments were well under Wall Street’s consensus, however, coming in at 4.9 million units. Some analysts’ expectations were as high as 5.6 million units. Shipments totalled 13.7 million smartphones for the full year, and the company shipped 37.3 million feature phones and smartphones combined in 2010. Motorola forecasts a loss of between $26 and $62 million in the first quarter of 2011, which amounts to $0.09 and $0.21 per share in the red. Analysts had projected a profit of $0.01 per share in the quarter. Hit the break for Motorola’s full press release. More →

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