Q3 2011

General
October 20, 2011
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AT&T reports solid Q3 as subscribers pass the 100 million mark

By on October 20, 2011 at 8:00 AM.

AT&T reports solid Q3 as subscribers pass the 100 million mark

AT&T on Thursday reported results for the third quarter of 2011 that were in line with expectations. The carrier gained 2.1 million net subscribers to pass 100 million total subscribers for the first time, though revenue of $31.5 billion was down marginally from the same quarter a year earlier. Third-quarter net income of $3.6 billion or $0.61 per share was down from $12.3 billion or $2.07 per share in the same quarter last year, but up from $0.54 per share year-over-year when excluding one-time gains. Wireless data revenue was up 18%, or $857 million, from the same quarter last year to $5.6 billion. AT&T sold 4.8 million smartphones during the third quarter, which includes iPhone activations totaling 2.7 million units. “Smartphones, connected devices and tablets all posted impressive gains,” AT&T CEO Randall Stephenson said in a statement. ”Our first LTE 4G markets are up and running with terrific speeds. And we continue to work toward a successful completion of our planned T-Mobile USA merger. The next waves in the mobile Internet revolution represent tremendous growth potential, and we are laying the groundwork required for that future.” AT&T’s full press release follows below. More →

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General
October 6, 2011
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HTC profit up 68% in Q3, revenue climbs 80%

By on October 6, 2011 at 10:40 AM.

HTC profit up 68% in Q3, revenue climbs 80%

HTC on Thursday announced unaudited consolidated results for the third quarter of 2011. The company said in a statement that revenue came in at NT$135.8 billion for the quarter, up 79.07% from the third quarter last year, and unaudited net income rose 68% year-over-year to NT$18.6 billion after taxes. Operating income climbed to NT$20.2 billion in the third quarter, and HTC reported earnings of NT$22.03 per share. HTC’s brief statement to investors follows below. More →

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Business
September 19, 2011
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Despite RIM’s rough quarter, Macquarie ‘pounding the table’ on rebound

By on September 19, 2011 at 4:30 PM.

Despite RIM’s rough quarter, Macquarie ‘pounding the table’ on rebound

In spite of Research In Motion’s recent fiscal second-quarter earnings report, which missed Wall Street’s consensus and RIM’s own estimates, not everyone is jumping ship just yet. Investment bank Macquarie Capital Markets reiterated its Outperform rating on RIM stock this past Friday, and it maintained its 12-month price target of $42. The firm noted that RIM’s low shipment volume (10.6 million units) ahead of the BlackBerry 7 product refresh is less disconcerting than most believe in light of the 13.7 million devices that were sold to customers. Macquarie also sees improved ASPs and sell-through leading to a rebound in the second half. Read on for more. More →

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Tablets
September 9, 2011
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Apple to ship more than 20 million iPad 2 tablets in Q3

By on September 9, 2011 at 10:11 AM.

Apple to ship more than 20 million iPad 2 tablets in Q3

Those who follow technology press closely were disappointed to learn that a revamped iPad rumored to launch this fall — possibly a “Pro” model with a Retina Display — is likely not going to become a reality. Apple never made any official mention of the device, of course, so we have no way of knowing whether or not earlier rumors were accurate. What we can seemingly say, however, is that consumers don’t seem to care. Apple continues to sell iPad 2 tablets as fast as its manufacturing partners can ship them, and a new report from Taiwan Economic News on Friday suggests Apple continued to see unprecedented demand so far this quarter. Read on for more. More →

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Business
July 13, 2011
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Analysts weigh in on Q3 iPhone sales; estimates range from 15M to 20.25M

By on July 13, 2011 at 2:00 PM.

Analysts weigh in on Q3 iPhone sales; estimates range from 15M to 20.25M

Earlier this week, Forbes writer Philip Elmer-Dewitt collected third-quarter iPad sales estimates from some 39 different analysts — both amateur and professional — and laid out the tale of the tape ahead of Apple’s earnings report next week. On Wednesday, Dewitt collected third-quarter iPhone sales estimates from the same 39 analysts. Estimates range from the 15 million iPhones Needham’s Charlie Wolf predicted late last month to a record 20.25 million units suggested by Traderhood’s Nicolae Mihalache. The analysts’ calls average out to 16.9 million units, which would be just over double Apple’s iPhone sales in the same quarter a year prior. Apple sold a record 18.65 million iPhones in the second fiscal quarter of this year, and the company’s iPhone business brought in $12.3 billion in revenue. More →

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Tablets
June 30, 2011
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Apple to ship 12-14 million iPad 2 units in Q3

By on June 30, 2011 at 9:30 AM.

Apple to ship 12-14 million iPad 2 units in Q3

Apple aims to ship between 12 million and 14 million iPad 2 tablets in the third quarter of the calendar year, possibly doubling its second-quarter sales of between 7 million and 9 million units. A new report from DigiTimes cites anonymous “market watchers” in claiming that Apple will drastically ramp up tablet orders in the third quarter of 2011. An earlier report claimed that Apple’s increased tablet orders in the second half of the year could put tremendous strain on manufacturers, thus limiting production output for competing products such as Amazon’s first media tablet, which is expected to launch later this year. IPad shipments in Apple’s last reported quarter missed big — analysts had huge expectations for the tablet in the fiscal second quarter, but supply limitations held iPad sales to just 4.69 units compared to 7.33 million in the fiscal first quarter. More →

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Business
April 25, 2011
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iPad 2 sales to balloon 200% this quarter according to analyst

By on April 25, 2011 at 11:08 AM.

iPad 2 sales to balloon 200% this quarter according to analyst

Asymco’s Horace Dediu has a long history of pegging Apple earnings, and on Monday morning the analyst issued his revenue and EPS estimates for Apple’s third fiscal quarter of 2011. Dediu expects Apple to outpace its guidance, as usual, which the company set at 47% revenue growth and 43% EPS growth last week. Based on significant year-over-year growth projected in every key segment other than its iPod business, Dediu expects revenue growth of 65% to $25.8 billion and EPS growth of 72% to $6.02. Regarding product lines, the analyst sees Apple’s third-quarter breaking down as follows:

  • iPhone units: 14.7 million (75%)
  • Macs: 4.3 million (25%)
  • iPads: 9.8 million (200%)
  • iPods: 10.1 million (-15%)
  • Music (incl. app) rev. growth: 25%
  • Peripherals rev. growth: 25%
  • Software rev. growth: 25%

Apple sold just 4.69 million iPads last quarter, falling short of analyst estimates ranging from 6 to 8 million. It is widely believed that the low sales were due to supply constraints, and Dediu believes that Apple will iron out these issues. The iPad 2 will also launch in several new countries this quarter, and coupled with supply that might finally come closer to meeting demand, Dediu sees third-quarter iPad sales ballooning 200% year-over-year to 9.8 million units. More →

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