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The US and France reportedly reach a deal over 'digital services' tax
The Trump Administration and the French government have supposedly reached a deal that ends a feud over France's tax on tech giants, Bloomberg reports. Earlier this year, French President Emmanuel Macron proposed a three percent tax on revenues earned on digital services in France. President Trump threatened a tariff on French wine if the tax went through, sparking a standoff. Trump and Macron reportedly worked through some of their differences at a G7 summit, and today, Macron told reporters, "We have a deal to overcome the difficulties between us."
Activision Blizzard earnings bolstered by Destiny and World of Warcraft
Another financial quarter is fading into memory, and that means it's time for another earnings call for Activision. The financials tell a fairly bright story for this particular quarter, with the continued sales of Destiny, overall success of Hearthstone, and the subscriber bump for World of Warcraft pushing the company up in revenue compared to the same quarter last year. Destiny, Activision says, has now racked up 9.5 million registered users. As a result of these figures, the company has increased its overall earnings forecast by two percent, with the upcoming phone releases for Hearthstone, a new Call of Duty title, and the Warlords of Draenor release accounting for the increased profits. You can read the whole thing yourself if you want to take a closer look at the company's financial workings.
Fortune provides upbeat Apple earnings, revenue estimates for Q3 2014
Over the past few days, Philip Elmer-DeWitt at Fortune has been posting his compilations of what Wall Street analysts expect Apple to announce today. This morning, he put the icing on the financial cake with revenue and earnings estimates from amateur and professional analysts alike, and those estimates (seen above) look wonderful. Apple's guidance from last quarter expected revenue in the range of $36 to $38 billion, with gross margins in the 37 to 38 percent range. The average of all estimates from analysts shows earnings topping Apple's guidance at about $38.31 billion, with gross margins at the top of Apple's range -- 38 percent. The analysts also expect earnings per share to be around $1.26. Those estimates are from 34 Apple analysts, and they represent a leap in revenues of 8.5 percent year over year, with earnings up 18 percent for the year ago quarter. Be sure to join our liveblog of the Apple earnings call later at 5 PM ET this afternoon.
Apple's iPhone revenues exceed those of Microsoft, Boeing, and other huge corporations
Just for the hell of it, let's say that Apple's iPhone unit was a separate company. Businessweek has done a bit of speculation and determined that the iPhone unit would be the ninth largest company in the Dow Jones Industrial Average based on revenues. Those revenues, which currently reach over US$88 billion annually, are alone enough to beat out those of entire mega-corporations. Think that consumer goods giant Procter & Gamble is huge? iPhone revenues just exceed that company's annual revenues (about $85 billion). Surely all of those huge aircraft rolling out of Boeing's plants have to be worth more in sales revenue than a pile of iPhones, right? Wrong. Boeing's revenues are less than those of the mythical iPhone-only company. And remember, Apple also has other product lines -- the iPad, Macs and various services including iTunes -- that also contribute to the bottom line. Just recall that at the announcement of the iPhone at Macworld Expo in 2007, Steve Jobs felt that achieving 1 percent of the mobile phone market would be a measure of success. In 2013, the iPhone owns about 7 percent of that global market, but brings in more than 60 percent of the profits in the market. Last weekend's huge launch of the iPhone 5c and 5s make the future of Apple look bright indeed.
HTC revenues continue to drop at alarming rates, down 61% from last October
It's no secret that HTC has hit a bit of a rough patch. Things started taking a turn for the worse in Q4 of 2011 when its revenue finally stopped growing and profits dropped along with it. Its been a continuous slide since and, if October's sales numbers are any indication, Q4 of 2012 isn't going to be when he Taiwanese manufacturer finally stops the bleeding. For the second month in a row revenues fell by double digits, down almost 19 percent from from September. Year-over-year, things are even worse. Revenues are down 61 percent from October of last year, a significant fall from even last month's 53 percent drop off. The company may even struggle to meet its rather conservative earnings goals. Things are beginning to looks seriously dire for the company which has fallen almost as spectacularly as it climbed. But there's always hope. With the Windows Phone 8X, 8S and the One X+ all right around the bend, the final two months of the quarter could present HTC with a chance at redemption.
Lenovo beats PC market with 46 percent profit surge
Yep, it's party-time in Beijing once again. While the PC industry as a whole reportedly grew by a tight handful of percentage points over the past year, Lenovo has somehow managed to continue its long-running growth spurt, with shipments up 44 percent and operating profits up 46 percent. Sales of both laptop and desktop (including IdeaCentre all-in-ones) grew roughly equally, helped along by blossoming demand in emerging markets, while fledgling smartphones and tablets also proved popular in Lenovo's homeland. The manufacturer reckons it's now second in command of the market behind HP, although it conveniently disregards Apple's iPad from its ranking.
DirecTV adds 81,000 subscribers during Q1 in the US, increases revenue by 12 percent
Unlike with Comcast, Wall Street experts weren't surprised by DirecTV's latest Q1 results -- in fact, they were quite disappointed. The satellite provider only managed to add 81,000 subscribers in the US of A during the quarter, which is more than a 50 percent decrease compared to last year's Q1 (184,000). Meanwhile, DirecTV did see a 12 percent increase in revenue, pushing the total to about $7.05 billion. That last bit thanks in large part to landing over 590,000 new customers in Latin America, though that didn't keep its current share price from dropping about 2.7 percent to $46.60. Nonetheless, DirecTV CEO, Mike White, says his company "delivered another strong quarter [..] highlighted by double-digit revenue, EPS and cash flow growth." Us? Well, we're wondering why those "roadside ditch" commercials aren't luring more Stateside folks away from cable...
ARM reports revenues up 13 percent, bicep-curling profits up 22 percent
UK-based chip designer ARM just announced another booming quarter, with revenue up by 13 percent to $209.4 million. Pre-tax profits were even stronger, growing 22 percent year-over-year to $100 million. Not a bad profit margin by anyone's standards, and due to entirely to the Cambridge outfit's business model, which has seen 22 new processor licenses signed this quarter. That includes everything from the smallest Cortex-M class chips for use in the "Internet of Things" right through to the mini-monster Cortex-A15. There were also two new signings for the Mali graphics core, which is still proving its worth in some of the latest Samsung Galaxy devices. Overall, the number of chips that went into mobile phones and mobile computers remained steady, but the shipment of chips for other types of consumer and embedded devices grew by 15 percent year-on-year, proving that ARM not only has muscle, but also fingers in pies.
Verizon's vitals: quarterly revenue up five percent to $28 billion, earnings of $1.7 billion
Verizon is remembering how to turn to subscribers into cash, reporting consolidated revenues up 4.6 percent year-over-year to $28 billion and earnings of $1.7 billion -- boosting earnings-per-share by 15 percent. By comparison, revenues were $27 billion in Q1 2011, and a mere $18 billion last quarter, which resulted in a $2 billion net loss. Big Red's performance is now as strong as ever, with subscriber numbers up five percent to 93 million, and with 47 percent of those customers using insanely profitable devices called smartphones. On the TV and broadband side side, its FiOS unit now tops five million internet customers, and added a net total of 180,000 video subscribers. And that new $30 upgrade fee hasn't even kicked in yet.
HTC's unaudited Q1 2012 financials: revenue down by 35 percent
HTC's unaudited financials have just hit the wires and it looks like the negative trends from last year are continuing. For the first quarter of 2012, revenues are down nearly 35 percent year-on-year, with revenues of 67,790 million Taiwanese dollars (around $2.3 billion) for the period. Operating income was 5,099 million Taiwanese dollars (roughly $173 million) and profits after tax 4,464 million Taiwanese dollars ($151 million). The company must be hoping that this represents the end of the nasty hangover from its previous scatter-gun approach to phone production. Now that it's gone with the sleek and slender One series lineup, we'll see how well the company's about-turn does in the next two quarters.
ARM boosts profits by 45 percent, strengthens grip on the universe
The British chip designer continued last year's growth streak with a 45 percent surge in quarterly normalized pre-tax profits compared to Q4 2010. Revenues also rose by 21 percent to £137.8 million ($217 million) -- not bad for a company that started out with twelve engineers in a barn. There's nothing complicated about CEO Warren East's explanation of the results -- he simply says that his company sold more designs to "more new customers" and also raked in more royalties from existing deals. Unless the global economies suffers badly in 2012, ARM says it expects to meet market expectations, targeting an annual profit of $860 million this year.
God save the green: Deal makes Jagex a US company
Jagex is trading up the Union Jack for the Stars and Stripes, as controlling interest in the studio has changed hands to a US firm. Insight Venture Partners, a venture capital firm from the US, completed a deal last year to increase its ownership to 55% of the UK-based company. Previously, the firm had 35% interest in Jagex. Now that the scales have tipped to the new ownership, this technically makes Jagex a US-controlled company and has US investors leading its board of directors. While revenues were up 2% for Jagex in 2011, both operating and net profits were significantly down from the previous financial year. Jagex is a major player in the MMO free-to-play market, with RuneScape, Transformers Universe, and 8Realms as part of its project portfilio. Develop reports that the controlling interest was made possible by Jagex co-founder Andrew Gower selling off his ownership claims to the firm for $115.65 million. As part of the deal, Jagex paid $3.85 million in expenses. The studio will remain in Cambridge while its controlling firm is in NYC.
HTC's growth streak is over: quarterly revenue down 2.5 per cent, profits even worse
Difficult times for a company that had grown used to a gleaming record of growth. As predicted after that serious stutter in November sales, HTC's unaudited revenue for Q4 2011 shows a 2.49 percent fall on the same quarter in 2010. Unaudited operating income was just shy of 13 billion Taiwanese dollars (about $430 million), which represents a 22 percent decline on the year before. Prior to this, the company had seen nothing but upward movement after springing out of nowhere a few years ago and delivering us some rather nice handsets, but it looks like competition in the Android sphere (read: Samsung) is starting to make life harder for the Taiwanese manufacturer -- although none of its recent statements betray much in the way of self-reflection.
Samsung claims record 300 million mobile sales this year
Add together ten million Galaxy S IIs, a dollop of Galaxy Nexii, a gargantuan gathering of Galaxy Notes and a healthy serving of Badas, and what do you get? 300 million handset sales so far in 2011, that's what. And Samsung claims that makes this the best year in its mobile-making history, surpassing 2010 by a whopping 20 million. Of course, more sales doesn't necessarily translate into greater revenue -- Nokia is still the world's largest manufacturer by volume and is a case in point. Nevertheless, we'll know more when Samsung reveals its Q4 earnings next month.
HTC 're-evaluates' S3 Graphics deal following patent defeat by Apple
Just four months have passed since HTC announced its amorous intentions towards S3 Graphics and already the romance seems to be going sour. S3 lost its battle against Apple at the ITC a couple of days ago, devaluing its patent portfolio and subsequently forcing HTC into a "holistic re-evaluation" of its $300 million acquisition of the company. S3 can still appeal the ITC's ruling, however, so this fling might be far from finished.
Timber! iOS and Android take 60 percent cut of mobile gaming dollars
The last time we reported on these figures, paid iOS and Android games were chipping away happily at the US market share of those two old oaks, Sony and Nintendo. Well, peer through the cloud of leaves and sawdust and you'll see that the job is done: the two newcomers will generate $500 million more than DS and PSP titles this year, according to stats from Flurry. Click past the break to see the trend since 2009 crystallized into a cold, hard pie chart. On the other hand, there's a bit of good news for everybody: the overall American mobile gaming market is growing at a rapid pace -- this year's total revenue of $3.3 billion represents a 25 percent increase on 2010, so new devices like the PlayStation Vita and the Transformer Prime should find plenty of room to take seed.
Motorola Mobility reports $56 million net loss in Q2, $3.3 billion in revenue, Bionic debut in September
Back in the last quarter of 2010, Motorola Mobility predicted a rocky road for future business, and its Q2 earnings seem to be right on track. The company reported total net revenues of $3.3 billion in the second quarter, up 28 percent year-over-year, but saw a net loss of $56 million, compared to earnings of $80 million in the second quarter of 2010. Mobile Devices saw an operating loss of $85 million, compared to the previous year's earnings of $87 million. Moto's not all doom and gloom however, as it predicts profitability in mobile devices by Q4. In terms of sales, the company reportedly shipped 11 million mobile devices, including 4.4 million smartphones and 440,000 Xoom tablets. Here's hoping Motorola's powers of prediction remain strong.Full PR after the break. We'd heard that the Droid Bionic was "coming soon," but up until today, we still didn't have a firm date for the LTE Android phone. Well, the cat is sort of out of the bag, as Mobility CEO Sanjay Jha has just announced that the long-awaited handset will hit stores in September. When in September is still anyone's guess, but we'll keep you posted as we learn more.
Sony, Sharp and Fujitsu earnings all bring bad news, only Toshiba says something nice
Plenty of Japanese earnings news today and, as with Nintendo, most of it's pretty dire. Sony's hit from the earthquake and PSN outtage has inevitably contaminated this quarter, but it's suffered from slow Bravia TV, PC and camcorder sales too. Together, these factors contributed a hefty ¥15.5 billion ($200 million) loss in the three months to the end of June, compared to a ¥25.7 billion profit for the same quarter last year. Meanwhile, Fujitsu also lost ¥20.4 billion, which it largely attributed to a 6.7 percent decline in Japanese sales following the disaster. However, sales in other countries also fell 5.3 percent, reflecting a stronger yen and general lack of consumer demand. Despite everything, Sharp managed to make an operating profit of ¥3.5 billion -- but this was down an eye-watering 84.4 percent on the same period last year. Like Sony, the company is suffering from weak demand for TVs, and says it's switching one of its main TV panel plants to make smaller panels for mobile devices instead -- including the iPhone and iPad. There was some more upbeat news from Toshiba, however, which has managed to stay in the green. It reported a slight rise in net quarterly profit to ¥470 million due to demand for its power systems and home appliances. At least that's a note worth ending on.
LG turns it around, reports profits back in the green
After six months of knuckle-crunching losses, LG can finally wind the window down and turn the radio on to Seoul FM. The electronics giant just reported a net profit of ₩108 billion ($100 million) in the last quarter, primarily thanks to sales of LED and Cinema 3D TVs. Its handset subsidiary, which has been pushing into the Android high end with devices like the Optimus 2X, is still bleeding cash -- but losses were halved compared to last quarter, so perhaps the wound is finally scabbing over. Meanwhile, the LG Home Appliance Company posted "record-high" sales, but it'll have to Thinq even harder in future because profits were held back by higher material costs, currency fluctuations and greater competition. Definitely too soon for cruise control.
Rogers reports bountiful profits, lays offerings at feet of munificent Master Smartphone
We've just had a string of happy earnings missives from AT&T, Verizon and ARM, so it's not really surprising that the dollar-drenched smartphone effect continues to rage over in Canada too. Rogers Communications just reported Q2 operating profits up 4 percent on the same period last year, amounting to over CA$1.2 billion ($1.3 billion). It won 135,000 new wireless subscribers thanks to a "record number of new smartphone customers", who now make up half of all postpaid subscribers, compared to just 35 percent in June 2010. The carrier also revealed that its smartphone customers tend to be twice as profitable as voice-only types, which tells us there's the scope for it to listen even harder to its customers.
