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April 24, 2012
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Apple crushes estimates in Q2, reports profit of $11.6 billion on $39.2 billion in revenue

By on April 24, 2012 at 4:30 PM.

Apple crushes estimates in Q2, reports profit of $11.6 billion on $39.2 billion in revenue

After a rough month that saw Apple’s stock tumble nearly $90 from a high of $644 earlier this month to as low as $555.18 on Tuesday, Apple reported its earnings for the second fiscal quarter on Tuesday after the market closed. Following a last-minute round of panic that swept Wall Street, Apple posted a net profit of $11.6 billion, or$12.30 per share — up 94% year-over-year — on revenue of $39.2 billion, crushing the Street’s consensus. Analysts were expecting earnings of $10.06 per share on $36.81 billion in sales. Read on for more. More →

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Business
April 24, 2012
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HTC sees decline continuing in Q2 as Apple, Samsung dominate smartphones

By on April 24, 2012 at 3:10 PM.

HTC sees decline continuing in Q2 as Apple, Samsung dominate smartphones

HTC on Tuesday forecast lower revenue for the second quarter this year, trimming its profit margin guidance at the same time. The struggling Taiwan-based vendor sees revenue falling 16% from the second quarter last year to NT$105 billion, and gross profit margin is expected to slide to 27% from 28.8% during the same period a year earlier. HTC’s anticipated second-quarter revenue represents a 55% improvement over the first quarter of 2012, which saw HTC’s net profit decline sharply to its lowest point since 2006. The vendor’s new One-series smartphones recently began rolling out internationally, and both AT&T and T-Mobile will launch new HTC handsets in the coming weeks. BGR reviewed the HTC One S last week and called it the best smartphone ever to come to T-Mobile, but HTC has its work cut out for it — Apple’s iPhone 4S remains the best-selling smartphone in the world and Samsung will unveil its next-generation flagship Galaxy phone next week, just three days after HTC’s One X goes on sale at AT&T.

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Business
April 24, 2012
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AT&T posts better-than-expected profit in Q1, sells record 5.5 million smartphones

By on April 24, 2012 at 7:36 AM.

AT&T posts better-than-expected profit in Q1, sells record 5.5 million smartphones

AT&T on Tuesday reported its results for the first quarter of 2012. Following a record holiday quarter that saw the nation’s No.2 carrier pull in $0.42 per share excluding one-time charges on sales of $32.5 billion, analysts were expecting first-quarter EPS of $0.57 on revenue totaling $31.85 billion. The company beat expectations, posting a profit of $0.60 per share on in-line sales of $31.8 billion. AT&T activated 3.6 million iPhones during the first quarter last year, and that number climbed to 4.3 million in the first quarter of 2012, down seasonally from a record 7.6 million during the holiday quarter. Total smartphone sales for the first quarter this year came in at 5.5 million, in line with the 5.5 million smartphones it sold in the first quarter of 2011, though AT&T says that its first-quarter smartphone sales set a new record this year. The carrier added 726,000 net subscribers last quarter as its total subscriber count reached 103.9 million, up from 103.2 million in the December quarter. AT&T’s stock is trading up 0.5% ahead of the bell. The company’s full press release follows below. More →

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Business
April 23, 2012
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Netflix beats estimates in Q1; posts narrower loss on $870 million in sales

By on April 23, 2012 at 4:05 PM.

Netflix beats estimates in Q1; posts narrower loss on $870 million in sales

Netflix posted its financial results for the first quarter of 2012 after the bell on Monday. The company reported a loss of $0.08 per share, or$5 million, on $870 million in revenue, beating analysts’ consensus. Netflix posted a profit of $1.11 per share on $719 million in revenue in the first quarter last year, and Wall Street was expecting a loss of $0.27 per share on $866 million in sales this past quarter. All eyes were on Netflix’s subscriber additions this quarter, and the company said it added nearly 3 million streaming customers in the first quarter, including 1.21 million international streaming subscribers. The company shed more than one million DVD rental subscribers in the U.S. after losing 2.76 million DVD subscribers in the fourth quarter. Netflix’s global streaming subscriber count now sits at more than 26 million, up from 24.4 million at the end of the fourth quarter. In the second quarter, Netflix expects a net loss of between $6 million and $8 million as domestic streaming subscriber totals reach between 23.6 million and 24.2 million, below the Street’s estimates of 24.5 million. Shares of Netflix stock tumbled nearly 15% in after-hours trading on Monday following the release of the company’s earnings report. More →

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TV
April 23, 2012
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Apple’s ‘iTV’ to dominate high-end TV market while other vendors are in ‘crisis mode’

By on April 23, 2012 at 10:35 AM.

Apple’s ‘iTV’ to dominate high-end TV market while other vendors are in ‘crisis mode’

Apple’s upcoming entry into the high-definition television space is set to blow the high end of the TV market wide open while current market players continue their struggles to compete on price. Market research firm KAE along with online polling company Toluna recently conducted a survey and determined that 25% of consumers in the United States would purchase a physical Apple television set if the Cupertino-based company launches one. Beyond early consumer interest, however, current TV industry players may have left a gaping hole that will bring Apple billions when it fills the void. More →

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Business
April 19, 2012
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Microsoft posts Q3 beat: Operating income grows to $6.37 billion on $17.41 billion in sales

By on April 19, 2012 at 4:03 PM.

Microsoft posts Q3 beat: Operating income grows to $6.37 billion on $17.41 billion in sales

Following the huge loss reported by major mobile partner Nokia, Microsoft posted its fiscal third-quarter results on Thursday following the close of the market. Wall Street was expecting the software giant’s earnings to slide 7% year-over-year to $0.57 per share on sales of $17.18 billion, up 5% from the same quarter in 2011. Microsoft reported earnings of $0.60 per share, beating estimates, and revenue came in at $17.41 billion. Operating income totaled $6.37 billion, up 12% year-over-year. Read on for more. More →

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Business
April 19, 2012
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Verizon reports Q1: Earnings up 16%, 734,000 net subscriber additions

By on April 19, 2012 at 7:54 AM.

Verizon reports Q1: Earnings up 16%, 734,000 net subscriber additions

Verizon on Wednesday reported earnings for the first quarter that narrowly beat analysts’ expectations. The nation’s top carrier posted a profit of $0.59 per share, up about 16% over the same quarter last year and $0.01 above Wall Street’s consensus. Revenue grew 4.6% year over year to $28.2 billion, and net subscriber additions totaled 734,000. Verizon said that 47% of its postpaid subscriber base owned smartphones at the end of the first quarter, up from 43.5% in the same quarter last year. Monthly average revenue per user grew 3.4% to $53.66. “Verizon delivered double-digit earnings growth and strong cash flow this quarter,” Verizon CEO Lowell McAdam said. “We built momentum coming out of 2011, and our results show that we continue to execute in the key growth areas of our business. Verizon Wireless produced both great growth and great margins, and we produced another strong quarter of FiOS growth. We are confident we will improve Wireline margins for the full year. Our repositioning of Verizon Enterprise Solutions has better aligned our strengths in high-growth markets, and we expect our enterprise business to contribute even more to overall Wireline revenue growth and profitability over time.” Verizon’s full press release follows below. More →

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Business
April 19, 2012
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Nokia posts huge $1.7 billion Q1 loss; sales boss resigns as smartphone sales plummet 50%

By on April 19, 2012 at 7:41 AM.

Nokia posts huge $1.7 billion Q1 loss; sales boss resigns as smartphone sales plummet 50%

Nokia warned that its first-quarter earnings would be weak, and the numbers are now in. Revenue declined 30% to €7.4 billion, or $9.7 billion USD last quarter, down from €10.4 billion, or $13.6 billion in the same quarter last year. The company posted a massive €1.3 billion loss, or $1.7 billion USD, which breaks down to a loss of €0.25 per share. Smartphone sales plummeted 52% to 1.7 billion units in the first quarter, and net device sales dropped 40% to 4.2 billion units. Read on for more. More →

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Business
April 18, 2012
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Apple’s next iPhone launch could be most important in smartphone history

By on April 18, 2012 at 1:10 PM.

Apple’s next iPhone launch could be most important in smartphone history

Apple’s iPhone 4S marked the biggest device launch in the company’s history. A number of industry watchers and news sites were expecting a completely redesigned handset, but despite the new model’s striking resemblance to the iPhone 4, it sold more than 4 million units in its debut weekend alone. According to Goldman Sachs analyst Bill Shope, Apple’s next smartphone launch will be even bigger. Read on for more.

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Business
April 17, 2012
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HTC rebound hits early rough patch

By on April 17, 2012 at 11:35 AM.

HTC rebound hits early rough patch

HTC’s stock was hit hard on Tuesday following news of Samsung’s imminent Galaxy S III announcement, which couldn’t have come at a worse time for the struggling Taiwan-based vendor. HTC’s record growth in early 2011 was stunted later in the year as strong competition from the likes of Apple and Samsung shifted attention from the vendor’s aging smartphone lineup. The company is now in the process of launching its new line of One-series smartphones including the One X and One S, however Samsung’s announcement will come just weeks after HTC’s international One-series roll-out began, posing a serious threat to the company’s first-half comeback. Read on for more. More →

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Business
April 12, 2012
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Google posts Q1 results, beats Wall Street’s consensus; announces 2-for-1 stock split

By on April 12, 2012 at 4:09 PM.

Google posts Q1 results, beats Wall Street’s consensus; announces 2-for-1 stock split

Google on Thursday reported its results for the first quarter, topping Wall Street’s estimates. The Internet giant managed earnings of $10.08 per share on $10.65 billion in revenue, beating analysts EPS estimates of $9.64 and $8.1 billion in sales. Net revenue came in at $8.14 billion after $2.51 billion in traffic acquisition costs, in line with estimates. In the same quarter a year earlier, Google posted an adjusted profit of $8.08 per share $6.5 billion in sales. The company also plans to create a new class of non-voting capital stock that effectively creates a 2-for-1 stock split. The new class C shares will be traded under a separate ticker. “Google had another great quarter with revenues up 24% year on year,” Google CEO Larry Page said in a statement. “We also saw tremendous momentum from the big bets we’ve made in products like Android, Chrome and YouTube. We are still at the very early stages of what technology can do to improve people’s lives and we have enormous opportunities ahead. It is a very exciting time to be at Google.” A letter from Google co-founders Larry Page and Sergey Brin explaining the decision to split the company’s stock follows below along with the Google’s earnings release. More →

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Business
April 10, 2012
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‘Extremely poor’ Symbian sales, mixed Lumia sales to leave Nokia with another rough quarter

By on April 10, 2012 at 11:45 AM.

‘Extremely poor’ Symbian sales, mixed Lumia sales to leave Nokia with another rough quarter

Nokia is in store for yet another rough quarter according to Canaccord Genuity analyst Mike Walkley. The struggling Finnish phone vendor posted a massive €954 million operating loss last quarter, and Walkley thinks the company’s first quarter of 2012 could disappoint again. “We are lowering our estimates ahead of Nokia’s Q1/12 earnings report as our checks indicate weak Symbian sales, seasonally soft feature phone sales, and a slow ramp in Windows smartphones,” the analyst wrote, reiterating a Hold rating on shares of Nokia stock and lowering his price target to $5. Read on for more. More →

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Business
April 10, 2012
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Sony sees massive $6.4 billion annual net loss, its worst ever

By on April 10, 2012 at 7:30 AM.

Sony sees massive $6.4 billion annual net loss, its worst ever

Sony has revised its full-year earnings projections for the fiscal year ended March 31st to include a tax hit that will see the company report a record $6.4 billion loss. The net loss will be twice what the consumer electronics giant projected, and it marks Sony’s fourth consecutive annual loss. “There have been several reasons for our poor results,” Sony CFO Masaru Kato told reporters at a briefing Tuesday morning. “We are aiming for a rebound and for this we have made management changes.” Kato cites poor demand and a strong yen among the causes for Sony’s poor results. Reports surfaced earlier this week stating that Sony plans to cut as many as 10,000 jobs in the coming years, or roughly 6% of its workforce, in an effort to cut costs. The company plans to reveal a new strategy on Thursday that CEO Kaz Hirai hopes will turn its struggling business around. More →

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