HP reports Q1 earnings: EPS beats but revenue and Q2 guidance both miss

By on February 22, 2012 at 5:05 PM.

HP reports Q1 earnings: EPS beats but revenue and Q2 guidance both miss

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 →

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Qualcomm reports record Q1, beats estimates with $4.68B in revenue and raises outlook

By on February 1, 2012 at 4:40 PM.

Qualcomm reports record Q1, beats estimates with $4.68B in revenue and raises outlook

Qualcomm on Wednesday reported record earnings for the first quarter of fiscal 2012. The company took in $4.68 billion in revenue, up 40% year-over-year and 14% sequentially, beating Wall Street’s estimate of $4.58 million. Qualcomm’s net income of $1.4 billion was up 20% year-over-year and 25% over the fourth quarter. The firm also managed earnings of $0.97 per share, up 18% year-over-year and ahead of the Street’s EPS estimate of $0.90. Qualcomm boosted guidance for the full year, saying it expects to report between $18.7 billion and $19.7 billion in revenue for 2012. It had previously said revenue would likely fall between $18 billion and $19 billion. “I am pleased to report another record quarter with revenues, earnings and MSM shipments reaching all-time highs, driven by our industry-leading chipset portfolio and the continued strong demand for smartphones around the world,” said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm. “We are raising our revenue and earnings guidance as our broad licensing partnerships and extensive chipset roadmap, led by our integrated Snapdragon processors, position us well for strong growth in fiscal 2012. We continue to invest in innovative wireless technologies, products and services, and we are excited about the opportunities ahead as 3G and 4G continue to expand across new device types and geographies.” More →

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Analyst boosts Q1 iPhone shipment estimates to more than 30 million units

By on December 21, 2011 at 9:15 PM.

Analyst boosts Q1 iPhone shipment estimates to more than 30 million units

Susquehanna issued a note to its clients on Wednesday in which the firm said it is increasing its iPhone shipment forecast for Apple’s first fiscal quarter. The company originally expected Apple to ship 27.1 million iPhones during the quarter but has revised that figure up to 30.3 million units. “The revisions are based on positive sell-through data combined with recent supply-chain checks, which suggests that earlier component constraints have largely been resolved and build plans have increased for the fourth and first quarter,” the company explained in a note to clients. Susquehanna also said demand for the iPhone 4S remains strong and that the device continues to ship in 1-2 weeks from Apple’s website while retail stores are still “sold out for in-store reservation and pickup.” The firm’s predictions are certainly bullish; Apple sold 17.1 million iPhones during its fourth fiscal quarter. Still, other firms such as UBS predict that Apple will ship as many as 42.5 million iPhones during the December quarterMore →

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Microsoft reports best-ever Q1 results; revenue hits $17.37 billion

By on October 20, 2011 at 4:20 PM.

Microsoft reports best-ever Q1 results; revenue hits $17.37 billion

Microsoft announced its fiscal first-quarter 2012 earnings on Thursday, the best first quarter the company has ever recorded. The Redmond-based software giant reported revenue of $17.37 billion, up 7% from the first quarter of 2011 and on a par with analyst estimates of $17.26 billion. Operating income for the quarter was $7.2 billion, up 1% from the same quarter last year and net income was $5.74 billion, or $0.68 per share, up 6% from the first quarter of 2011. “We saw customer demand across the breadth of our products, resulting in record first-quarter revenue and another quarter of solid EPS growth,” said Microsoft CFO Peter Klein. “Our product portfolio is performing well, and we’ve got an impressive pipeline of products and services that positions us well for future growth.” Microsoft’s Business division reported $5.62 billion in revenue, up 8% from the same period last year and above analyst estimates of $5.4 billion. The company’s Server & Tools team reported $4.25 billion in revenue, up 10% from last year’s first quarter and a hair below analyst expectations of $4.3 billion. Its Windows and Windows Live Division reported a revenue increase of 2% up to $4.87 billion. In addition, Microsoft said it has now sold 450 million Windows 7 licenses since the platform’s launch. Read on for the full press release from Microsoft.  More →

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Tablet shipments fell by 28% in Q1, full-year forecast still up on iPad demand, IDC says

By on July 12, 2011 at 6:30 AM.

Tablet shipments fell by 28% in Q1, full-year forecast still up on iPad demand, IDC says

Tablet shipments following the 2010 holiday season dropped by more than a quarter according to market watcher IDC, but the firm still raised its full-year forecast in its latest Worldwide Quarterly Media Tablet and eReader Tracker report. First-quarter 2011 tablet shipments were down by 28% sequentially according to IDC, due to iPad shipments that were “well below expectations.” Yet the firm has high hopes for Apple’s iPad 2 tablet in 2011, and it raised its full-year shipment estimates to 53.5 million units from 50.4 million units as a result. Apple isn’t the only company finding success with tablets, however, as Android tablets were up 8.2 points sequentially to 34% of total shipments in the first quarter according to IDC. “Like the PC market, Media Tablets had a bit of a challenging quarter in Q1, as concerns about general macroeconomic issues and the post-holiday letdown took a toll on demand,” said IDC’s VP of Clients and Displays Bob O’Donnell in a statement. “We expect the rest of the year to be much stronger, but we believe vendors who continue to focus on the telco channel for distribution will face serious challenges.” O’Donnell’s colleague Jennifer Song, IDC Research Analyst, added, “Although media tablet sales were not as high as expected in 1Q11 due to slower consumer demand, overall economic conditions, and supply-chain constraints, we believe with the entrance of competitive new devices in second half of 2011, the market will sell close to 53 million units for the year and continue to grow long-term.” IDC’s full press release follows below. 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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Best Buy Q1 earnings beat the Street, net income slides 12%

By on June 14, 2011 at 7:55 PM.

Best Buy Q1 earnings beat the Street, net income slides 12%

Shares of Best Buy stock jumped by as much as 7% Tuesday morning as the company reported results for the first fiscal quarter of 2012 that beat Wall Street’s expectations. In the quarter ending May 28th, Best Buy reported revenue of $10.9 billion, up 1% from the same quarter last year thanks to a 12% increase in online revenue. Gross profit slid 1% year-over-year to $2.77 billion and net income dropped 12% to $136 million, but the Street was expecting more of a hit as competition from online retailers like Amazon picked up. “We’re pleased that our actions improved sales trends within the quarter, with continued double-digit growth online and strong growth of mobile phones and connections,” Best Buy CEO Brian Dunn said in a statement. The company also reaffirmed its fiscal 2012 guidance, saying it expects revenue to fall between $51 billion and $52.5 billion and net income of between $3.30 to $3.55 per share. Analysts expect revenue to total $51.8 billion and EPS to reach $3.46 for the full year. Best Buy’s full press release can be seen below. More →

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LG CEO predicts difficult handset turnaround in Q2

By on June 4, 2011 at 8:01 AM.

LG CEO predicts difficult handset turnaround in Q2

Speaking to reporters on Thursday, LG CEO Koo Bon-Joon said it would be difficult to turn around the company’s current struggle in the handset business during the second quarter. LG reported poor handset sales during the first quarter of the year — phone sales were down 9.2% year-over-year and 14.3% quarter-over-quarter, and shipments were down 10% year-over-year. Gartner also recently noted that LG’s share of the mobile phone market dropped two percentage points to 5.6% year-over-year. LG’s CFO has said that the firm is banking on the success of its Android-powered Optimus smartphones. More →

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36% of smartphone purchasers the world over chose Android in Q1 of 2011

By on May 19, 2011 at 12:21 PM.

36% of smartphone purchasers the world over chose Android in Q1 of 2011

Does the number 36 mean anything to you? If you’re an Android fan it should. A report from analytics firm Gartner indicates that 36.3 million Android handsets were sold during Q1 of 2011 giving the mobile operating system a 36% share of all smartphones sold during that same period. An impressive figure on its own, but even more-so when considering that Android saw sales of 5.2 million units and held a 9.6% share of sales in Q1 just one year prior. Nokia’s Symbian operating system sold 27.6 million units in Q1 and Apple’s iOS accounted for 16.9 million of the 100.8 million total smartphone units sold. Moral of the story: Android is killing it. The full report is after the break. More →

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Microsoft sells 1.6M Windows Phone handsets in Q1

By on May 19, 2011 at 8:18 AM.

Microsoft sells 1.6M Windows Phone handsets in Q1

According to research firm Gartner, although Microsoft shipped 2 million Windows Phone units during Q4 of 2010, it sold 1.6 million units during Q1 of 2011.”Windows Phone saw only modest sales that reached 1.6 million units in the first quarter of 2011,” wrote Gartner. “Devices launched at the end of 2010 failed to grow in consumer preference and CSPs continued to focus on Android.” Gartner is, however, predicting big things for Microsoft’s smartphone operating system. By 2015, the analytics company predicts that Windows Phone will see shipments in excess of 215 million units — thanks in large part to its partnership with Nokia. This would put Microsoft in second place in global market share — behind the open-source smartphone-overlord Android and ahead of the not-so-open-source iOS. More →

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Apple chews away at Nokia, posts best smartphone share growth in Q1

By on May 10, 2011 at 2:11 PM.

Apple chews away at Nokia, posts best smartphone share growth in Q1

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 →

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T-Mobile USA posts pedestrian Q1 report card

By on May 6, 2011 at 12:00 PM.

T-Mobile USA posts pedestrian Q1 report card

T-Mobile USA has just posted its first-quarter 2011 earnings report, and the results aren’t all that hot. While the nation’s fourth largest carrier did increase contract APRU to $52 — up $1 year-over-year — it posted a decline in virtually all other business vitals. T-Mobile posted 99,000 net customer losses — 471,000 contract net customer losses paired with 372,000 prepaid additions. T-Mobile’s 33.63 million customers generated $5.16 billion in revenue and $135 million in net income — down from $5.28 billion and $362 million respectively year-over-year. A link to the full report is after the break. More →

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Canalys: Android dominance grows as Q1 market share climbs to 35%

By on May 4, 2011 at 8:10 PM.

Canalys: Android dominance grows as Q1 market share climbs to 35%

Market research and analysis firm Canalys on Wednesday released its global country-level smartphone market share data for the first quarter of 2011. According to the firm’s report, Android continued to dominate the worldwide smartphone market as global shipments grew to 37.5 million units, giving Google’s mobile OS a market-leading 35% share of smartphone sales in the quarter. Nokia’s market share fell dramatically year-over-year from 39% in the first quarter of 2010 to just 24% last quarter, according to the report, and Apple’s share grew to 19%. Though the smartphone market outgrew Nokia at an alarming pace, the Finnish company did manage to increase shipments 13% year-over-year to 24.2 million units last quarter. Global smartphone shipments grew 83% from 55.2 million units in the first quarter of 2010 to 101 million units in the same quarter this year. The Asia Pacific region showed the most growth over the first quarter last year — 98% — while first-quarter smartphone shipments in the U.S. grew 85% from 13.3 million in 2010 to 24.7 million units in 2011. Hit the break for the full press release. More →

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