Cisco announced on Tuesday that it will layoff 9% of its workforce, or 6,500 jobs, in an effort to boost profits. That figure is lower than original speculation that the company would cut 10,000 employees. Cisco made the move as part of an effort to cut $1 billion in annual costs while spurring profit growth, …
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 …
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 …
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 …
HTC continued on its warpath toward becoming the No. 4 smartphone vendor in the world last month as the company recorded record revenue of NT$45 billion ($1.55 billion USD) in June. This marks the third straight month that the Taiwan-based mobile giant saw revenue hit a new high, and it was up 10.9% over May. …
HTC is set to slide into the No. 4 spot on the list of the world’s top smartphone vendors next year according to Taiwan-based research firm Market Intelligence Center. The slot is currently held by BlackBerry maker Research In Motion. Headquartered outside Taiwan’s capital, HTC has quietly built a smartphone empire as well as one …
Following first-quarter earnings that sent investors and the media into a tizzy, analyst coverage of RIM has been fairly monotone. The consensus? The company is doomed. Sure, there’s been an odd half-hearted vote of confidence here and there, but the majority of analyst coverage we’ve seen has been negative and investors are exiting en masse. In …
Waterloo, Ontario-based Research In Motion has begun laying off workers according to a report from a local newspaper on Tuesday. The Waterloo Region Record reports RIM has already begun reducing its staff, though there is no word on how many employees have been let go at this point. Last week, RIM reported a weak first …
Following RIM’s first-quarter earnings release on Thursday, the company’s sixth-biggest investor confirmed that it is giving up on the Waterloo, Ontario-based BlackBerry maker. “They are resting on their laurels,” said Stephen Jarislowsky, chairman of Jarislowsky Fraser Ltd., on Friday in an interview with Bloomberg. “Steve Jobs is a much better marketer than RIM,” Jarislowsky added. “We …
In a note to investors Friday morning, RBC Capital Markets Managing Director Mike Abramsky lowered his target on shares of RIM stock from $45 to $35 with a Sector Perform rating. Following yesterday’s bloodbath, shares of RIM stock plummeted by as much as 19% after-hours on concerns surrounding RIM’s second-quarter and full-year outlook. The Waterloo, Ontario-based …
