AT&T revenue up 2.2% in Q2; 3.6 million iPhones activated

By on July 21, 2011 at 8:40 AM.

AT&T revenue up 2.2% in Q2; 3.6 million iPhones activated

AT&T reported its second quarter results on Thursday. The company’s consolidated revenues were $31.5 billion, up 2.2% ($680 million) from the same quarter last year. AT&T’s wireless, wireline data and managed services were responsible for 76% of those revenues, and that figure is growing at a rate of 8.3% year-over-year. AT&T Mobility added a total of 1.1 million subscribers during the quarter, including 331,000 net postpaid adds, and it now serves a total of 98.6 million subscribers. The carrier also noted that it had its best-ever second quarter for smartphone sales: it sold 5.6 million total smartphones, up 43% year-over-year. AT&T activated 3.6 million iPhones during the quarter, more than half of the smartphones sold, and said that nearly 25% of the iPhone activations were from new subscribers. AT&T also noted that its planned acquisition of T-Mobile is still on track for closure during the first quarter of next year. Read on for the full press release.
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Nokia profit dives 44% in ‘clearly disappointing’ Q2

By on July 21, 2011 at 8:01 AM.

Nokia profit dives 44% in ‘clearly disappointing’ Q2

Nokia CEO Stephen Elop on Thursday best summarized Nokia’s second quarter earnings: “our Q2 results were clearly disappointing.” The Finnish phone vendor saw operating profit slide a worrisome 44% to €391 million in the second quarter, down from 704 million in the first quarter and €660 in the second quarter last year. Revenue dipped 11% sequentially to €9.275 billion and EPS was cut in half to $0.06. Revenue from smartphone sales dropped 33% to €2.368 billion on shipments of 16.7 million units, down 34% from the same quarter in 2010 when Nokia shipped 25.2 million smartphones. Nokia still managed to top Wall Street’s expectations for the quarter, however, thanks to royalties from a patent settlement with Apple. “The challenges we are facing during our strategic transformation manifested in a greater than expected way in Q2 2011,” said Nokia CEO Stephen Elop in a statement. He continued, “While our Q2 results were clearly disappointing, we are executing well on the initiatives that are most important to our longer term competitiveness.  Some progress is already evident, and thus we are targeting to end this year with more net cash and liquid assets than at the end of Q2 2011.  We firmly believe that our deliberate and unwavering commitment to making the changes necessary at Nokia is the right way to deal with the disruptive forces in our industry and drive value creation for our shareholders.” Nokia’s full earnings release follows below. More →

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Google: Android activations up to 550,000 per day

By on July 15, 2011 at 7:30 PM.

Google: Android activations up to 550,000 per day

Google’s Android activations aren’t slowing down anytime soon. The search giant announced in its second-quarter earnings report yesterday that there are now 550,000 Android smartphones activated each day. That’s a massive figure, and it’s up from June when Google’s Andy Rubin revealed that his company was activating a half a million devices daily. Rubin also noted in June that activations were growing at a rate of 4.4% week over week. If that growth isn’t stunning enough, get this: just two months ago Google said that it was activating 400,000 devices each day and that there were 100 million Android devices in use worldwide. That number is now up to about 130 million and going by Google’s newly revealed stats, it sounds like 200 million devices isn’t that far out of reach.

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Sony Ericsson posts Q2 loss, blames Japan earthquakes

By on July 15, 2011 at 7:40 AM.

Sony Ericsson posts Q2 loss, blames Japan earthquakes

Sony Ericsson on Friday posted a net loss of €50 million in the second quarter of 2011, blaming supply constraints resulting from devastating earthquakes that shook Japan earlier this year for the difficult quarter. The steep loss was not expected by the Street, and it is down from a profit of €12 million in the second quarter of 2010 and €11 million last quarter. Sony Ericsson’s shipments fell 31% from the same quarter last year to just 7.6 million units, while analysts expected shipments ranging from 8 million to 11 million handsets. Revenue for the quarter totalled €1.19 billion, down from €1.76 billion in the same quarter a year prior. “Sony Ericsson’s second quarter profitability was affected by the March 11 earthquake in Japan. We estimate that the impact of earthquake-related supply chain constraints on our portfolio was close to 1.5 million units, with most of the effect in the early part of the quarter,” said Sony Ericsson President and CEO Bert Nordberg in a statement. “Our shift to Android-based smartphones continues with smartphone sales accounting for more than 70 percent of our total sales during the quarter. We have shipped more than 16 million Xperia smartphones to date. We have introduced eight new Xperia smartphones this year and we continue to see strong consumer and operator demand across the Xperia smartphone portfolio.” The struggling phone vendor did say it expects business to improve in the second half of 2011, and it forecasts modest industry growth for the full year. Sony Ericsson said is share of the global Android smartphone market during the second quarter roughly 11%. The company’s full press release follows below. More →

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Global PC market shows growth in Q2; Lenovo wins globally, Apple wins in U.S.

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

Global PC market shows growth in Q2; Lenovo wins globally, Apple wins in U.S.

Market research firms Gartner and IDC have both released preliminary data for global PC sales in the second quarter of 2011, and the reports paint a much improved picture compared to the first quarter of the year. Lenovo was the biggest winner globally in terms of growth according to Gartner, having shipped 10.23 million PCs for a 12% share of the market. The China-based vendor’s PC market share grew a whopping 22.5% compared to the same quarter a year prior, and Lenovo now finds itself in the No. 3 spot globally. HP was still the top vendor with shipments totaling 14.89 million units, and Dell remained in the No. 2 spot with 10.62 million units shipped. Acer and ASUS rounded out the top-5 with 9.30 million units and 4.47 million units, respectively. Though Apple’s operating system share continued to climb last month, the firm still doesn’t sell enough units to bump it from the “Others” category on Gartner’s global table. In the U.S., however, Apple showed the biggest market share gains last quarter with 8.5% growth over the same quarter last year. While IDC’s numbers vary compared to Gartner’s, the end results are the same. IDC has Lenovo’s global growth pegged at 22.9% over the second quarter last year, and it shows that Apple grew even faster than Gartner estimates with 14.7% growth in the U.S. compared to the same quarter a year prior. The two firms agree that Acer was the biggest loser globally. Acer’s share of the worldwide PC market was down 20.4% from the second quarter of 2010 according to Gartner, and down a less alarming 10.1% according to IDC. Taiwan-based Acer was the biggest loser in the U.S. as well, as its share was down 22.6% year-over-year according to Gartner and 25.4% according to IDC. Full press releases from both firms follow below. More →

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Google reports Q2 earnings; stock soars as revenue, EPS crushes the Street

By on July 14, 2011 at 4:38 PM.

Google reports Q2 earnings; stock soars as revenue, EPS crushes the Street

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 →

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Analysts predict quarterly gains for Apple, Samsung, and HTC

By on July 13, 2011 at 5:45 PM.

Analysts predict quarterly gains for Apple, Samsung, and HTC

Apple, Samsung, and HTC will each post gains in their respective earnings reports according to 46 analysts polled by Reuters. “We expect second quarter earnings to reveal a widening gulf between the winners and losers and further illustrate the ‘changing of the guard’ as Apple, HTC and Samsung continue to increase market share,” CCS Insight analyst Geoff Blaber told the news outlet. Analysts say Samsung’s growth, which pushed it past Nokia as the largest smartphone builder in the world, was fueled by Google’s Android operating system. The group also collectively predicts that Apple sold 16.9 million iPhones during the fiscal third quarter. That figure is down from the fiscal second quarter of this year, but it’s also twice as many devices as Apple sold during the same quarter last year. Similarly, Samsung is expected to report that it shipped 19 million smartphones during the quarter and analysts believe the Korean company is on pace to surpass its 60 million unit sales target for the year. Nokia will continue to struggle, although we hope it picks up momentum when its Windows Phone devices begin launching later this year. “There were few products in the market that can match Galaxy S II as Apple appears to be delaying new iPhone debut due to disruptions in parts supply, while Nokia continues to fail to introduce competitive lineup,” Jin Sung-hye, a Hyundai Securities analyst, said. More →

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Samsung profits slide 26% amid poor display sales

By on July 7, 2011 at 10:01 PM.

Samsung profits slide 26% amid poor display sales

Samsung’s profits fell 26% during the second quarter due to poor sales in its LCD display division, according to a report the company released today. The firm’s operating profits were $3.5 billion for the quarter, down from $4.7 billion from the same period last year. According to a survey from Bloomberg that included six analysts, the Korean company’s display arm is expected to post an operating loss of 3.5 billion won ($69 million), down from an 880 billion won ($827.2 million) profit during the second quarter of 2010. Earlier this week, the head of Samsung’s combined LCD and semiconductor business, Kwon Oh-hyun, confirmed that Samsung’s component sales would suffer during the second quarter. That business could suffer more as Samsung continues to fight multiple lawsuits with its largest LCD buyer, Apple, and rumors have suggested the iPhone builder could drop Samsung as a supplier. “Only the phone business is holding up,” Kim Sung In, an analyst with Kiwoom Securities Co. told Bloomberg. “Everything else is looking bad. There’s no bright picture for the company looking ahead.” More →

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Verizon iPhone sales are already slowing down, analyst says

By on June 30, 2011 at 3:40 PM.

Verizon iPhone sales are already slowing down, analyst says

According to a Goldman Sachs analyst, Verizon Wireless is expected to announce that second-quarter sales of the iPhone 4 dropped from the first quarter of this year. “iPhone sales will likely be a touch below the 2.2 million” units that the carrier moved during the first quarter, Goldman Sachs analyst Jason Armstrong told Bloomberg. Verizon Wireless started selling the iPhone 4 a full month after the first quarter started — one might expect with more time to move the phone during the second quarter that sales would be greater. It’s likely the jump in first-quarter sales was from built up anticipation, however, so it could be that Verizon subscribers aren’t as interested in the iPhone as most believed. Armstrong, who recently sat in meetings with Verizon Wireless’ investor relations execs, said that sales of other Verizon Wireless smartphones surpassed expectations for the quarter. 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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Nokia stock plummets as company lowers second-quarter, full-year guidance

By on May 31, 2011 at 8:50 AM.

Nokia stock plummets as company lowers second-quarter, full-year guidance

Shares of Nokia stock plummeted by as much as 12% on Tuesday as the Finnish cell phone maker lowered its second-quarter and full-year guidance for the 2011 calendar year. Nokia said competitive dynamics and market trends across multiple price categories will cause net sales of its devices and services to fall “substantially below” its previous projections of between €6.1 billion and €6.6 billion in the second quarter. The company also set operating margin will be well blow previous guidance, which sat between 6% and 9%. Nokia also stated that its full-year guidance is no longer valid. “Strategy transitions are difficult. We recognize the need to deliver great mobile products, and therefore we must accelerate the pace of our transition,” said CEO Stephen Elop in a statement. “Our teams are aligned, and we have increased confidence that we will ship our first Nokia product with Windows Phone in the fourth quarter 2011.” Nokia’s full press release can be seen below. More →

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HP reports Q2 earnings: revenue up over last year, weak Q3 guidance

By on May 17, 2011 at 8:29 AM.

HP reports Q2 earnings: revenue up over last year, weak Q3 guidance

HP reported its second quarter results for 2011 early on Tuesday. Net revenue of $31.6 billion was up 3% from the $30.8 billion in net revenue HP reported during the second quarter last year. The firm reported income of $2.3 billion, up 5% from the same period last year. HP said its results were driven by the commercial sector and that it experienced “uneven consumer performance across its product categories,” due to weakened interest in consumer PCs. Despite claims that the company would begin to ship products just “weeks” after being announced, HP has yet to ship its new TouchPad tablet, or Pre 3 smartphone, both of which attracted some consumer attention earlier this year when they were unveiled. Shares of HP stock are currently down on weaker than expected third-quarter guidance. Hit the jump for the full release. More →

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Asustek issues Q2 guidance; 11% increase in shipments, 5% increase in revenue

By on May 6, 2011 at 6:37 AM.

Asustek issues Q2 guidance; 11% increase in shipments, 5% increase in revenue

While Acer scrambles to reverse the current negative trend that saw its PC shipments fall last quarter as revenue dove 56%, Taiwan-based competitor Asustek just issued second-quarter guidance that predicts growth in shipments over the first quarter of 2011. While analysts go back and forth over what the emerging tablet market’s impact on netbooks and notebooks might be moving forward, Asustek expects to ship 3.1 million devices this quarter, a 10.7% increase over the first quarter. While the company does plan to focus on tablets in addition to its core laptop business, it only expects about 9.7% of its total shipments — or 300,000 units — to be Eee Pad tablets. Asustek also expects revenue for the second quarter of 2011 to grow 5% to NT$77.6 billion. More →

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