Hewlett-Packard on Wednesday reported its fiscal first-quarter earnings, which fell short of Wall Street’s expectations. Analysts expected the computer giant to pull in $30.75 billion and $0.87 per share, and while HP’s first-quarter earnings of $0.92 per share beat the Street’s consensus, revenue dipped 7% to $30 billion and missed estimates. “In the first quarter, we delivered on our Q1 outlook and remained focused on the fundamentals to drive long-term sustainable returns,” said HP president and CEO Meg Whitman. “We are taking the necessary steps to improve execution, increase effectiveness and capitalize on emerging opportunities to reassert HP’s technology leadership.” HP anticipates its second-quarter EPS to fall between $0.88 and $0.91, below Wall Street’s consensus of $0.95 per share. Read on for HP’s press release. More →
Sony reported its fiscal first quarter results on Thursday and recorded a net loss of 15.5 billion Yen ($198.7 million). The company attributed the loss to the earthquake that struck off the coast of Japan in March, as well as a “stagnate” economy in the United States and Europe. Sony’s operating profits were 27.5 billion Yen ($330 million), down from the 67.02 billion Yen ($862) it reported during the same quarter last year. Operating revenue was 1.49 trillion Yen ($19.1 billion), down 10% from the 1.66 trillion ($21.3 billion) in revenue Sony reported in the first fiscal quarter of 2011. “We think we can be profitable at the current exchange rate levels,” Sony’s chief financial officer Masaru Kato said during a recent news conference. “We had almost no negative impact from the dollar, but the euro is still an issue for us.” Kato said that “TVs are one of the only remaining issues,” for the company and noted that Sony expects to sell 22 million televisions this year, down from the original projection of 27 million units. Kato said Sony’s supply chain was hit hard by the earthquake and impacted the company’s sales during the first quarter but that the supply channels have already bounced back.
Nintendo posted its first quarterly operating loss ever on Thursday in its fiscal first quarter earnings report. The Japanese gaming company recorded a net loss of 25.5 billion Yen ($328 million), which was on a par with the net loss of 25.2 billion Yen ($324 million) the firm reported during the same quarter last year. In addition, it posted a net operating loss of 37.7 billion Yen ($485 million), down from an operating profit of 23.3 billion Yen ($299 million) during the first quarter of 2010. Nintendo also slashed the price of the 3DS to $169.99, down from the portable gaming console’s original $249.99 price point. Nintendo attributed the poor quarter to a lack of Wii and DS sales, as well as a lack of attractive games for the 3DS. More →
According to new data from IHS iSuppli, Apple’s smartphone market share increased 14.9% during the first quarter of this year — more than any other phone maker. The Cupertino-based company had a 19.2% grip on the smartphone market and shipped 18.6 million units during the first quarter. Nokia, the global smartphone leader, shipped 24.2 million units during the quarter and maintained a 24.9% share of the smartphone market, down 14.5% sequentially. RIM outperformed the market and shipped 14.8 million smartphones, placing it in third place with a 15.2% share, up 4.2% sequentially. It was followed by Samsung (13% share, 12.6 million units shipped), and HTC (9.9% share, 9.6 million units shipped). “Apple’s smart phone market share in the first quarter was boosted by the introduction of its first iPhone model with [CDMA] as well as by the addition of Verizon Wireless as a carrier in the United States,” said Tina Teng, senior analyst, wireless communications, for IHS. “Not only did this allow Apple to expand its target market and boost shipments, it also placed additional pressure on rival smart phone brands—including Motorola, Samsung, LG and HTC—that focus on Verizon Wireless as a major customer.” Hit the jump for the full release. More →
According to a new report issued by Canalys today, the global PC market grew 7% during the first quarter of this year – largely fueled by tablets. There were 88.6 million PC shipments during the quarter, up from 82.8 million during the same quarter last year. HP had a 66% share of the shipments, followed by Acer (12.8%), Dell (11.3%), Apple (9.5%), Lenovo (9.2%), and others (40.6%). “Apple set the standard in the pad market, mainly at the expense of notebook and netbook shipments, as pads competed for a share of consumer IT spend,” Canalys said, noting that Apple’s iPad products accounted for 74% of the 6.4 million tablets shipped globally in Q1. “The [tablet] represents a real threat to PC and consumer electronics vendors, as it is capable of replacing devices in a range of other categories,” Tim Coulling, a Canalys analyst, said. Hit the jump for the full release. More →
Netflix released its fiscal first quarter 2011 earnings on Monday and, thanks to record amounts spent on marketing, the firm reported an increase in net customer additions and a spike in revenues. The video subscription service added 3.3 million domestic net customers during the quarter, a 94% increase year-over-year — that service now serves 23.6 million subscribers globally. Netflix reported revenues of $719 million, up 46% year-over-year, and a net income of $60 million, an 88% jump from the same period a year ago. The company said noted that it expects DVD shipments to decline and spending on streaming content to “increase substantially” in the second quarter and beyond. Hit the jump for Netflix’s letter to shareholders. More →
In line with rumors that first surfaced weeks ago, it looks as though Apple is preparing to refresh its MacBook Pro notebook computer line later this week. The most promising evidence at this point, as seen above, is the fact that Apple is no longer shipping MacBook Pro orders. Apple’s top-end notebooks are typically available for immediate shipment, however each and every MacBook Pro will now take 3-5 days to ship. Other than rumors that refreshed MacBooks would utilize Intel’s updated Core i5 processors, little is known about Apple’s forthcoming MacBook Pros. One rumor from last week speculates that the notebooks may be the first Mac computers to implement a rebranded version of Intel’s ultra-high speed Light Peak optical connectivity solution. Several pundits believe the addition would warrant a press event, however, during which Apple might unveil the new technology. No members of the press have received an invitation to an Apple event at this time. Apple’s refreshed MacBook Pro line is thought to be due for release this Thursday, February 24th, and price points are not expected to change. More →
In a presentation to investors on Friday, HTC revealed first-quarter projections that left attendees wide-eyed and smiling. In short, the Taiwan-based cell phone maker sees revenue and shipments both doubling as it continues to make waves in the smartphone market. “We continue to see strong demand from existing products and expect recently launched 4G products to help drive shipment growth in 2011,” HTC noted in a statement. The company projects first-quarter 2011 revenue to reach $3.2 billion on shipments of 8.5 million units. While overall growth in the smartphone market is expected by some to slow from 13% in 2010 to 8.4% in 2011, HTC is showing no signs of faltering. Exciting new devices like the ThunderBolt, Inspire 4G and DROID BIONIC are waiting in the wings, ready to pounce and help HTC maintain its position among the leaders in the Android space. The company is also reportedly preparing a second wave of Windows Phone 7 handsets as Microsoft’s emerging mobile platform continues to gain momentum. More →
Apple has increased its first quarter 2011 manufacturing orders for its iPhone handset, DigiTimes reports. Apple had initially placed orders for 19 million iPhones with manufacturing partners Foxconn and Pegatron Technology, and now those orders have been upped to as many as 21 million units.
The first-quarter shipment goal for WCDMA iPhones has been adjusted from 13 million units to 14-15 million units, the sources said. The shipment goal for CDMA iPhones, which will be launched in North America and Asia Pacific in the first quarter, is set at 5-6 million units, the sources added.
First quarter shipment totals of 21 million would represent a substantial increase over Apple’s current pace. DigiTimes’ source notes that year-end iPhone shipments in 2010 will total 47 million units, 15.5 million of which will have shipped in the fourth quarter. More →