2012
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Google's Q3 2012 earnings: $14.10 billion in revenue, $2.74 billion in operating income
In an apparent error, Google's Q3 2012 earnings have gone live smack dab in the middle of the trading day, instead of after the closing bell as expected. Early indications are that the search giant has notched third quarter revenues of $14.10 billion, representing a 45 percent uptick compared to Q3 2011. GAAP operating income in the third quarter of 2012 was $2.74 billion, or 19 percent of revenues, and that would explain the near 10 percent slide in the company's stock price. A year ago Google nailed down $3.06 billion, or 31 percent of revenues, when looking at operating profit; investors were expecting some $10.65 per share, while they got just $9.03 per share. When looking at net income, Q3 2012 saw that figure at $2.18 billion, whereas the company raked in $2.73 billion in the same quarter a year ago. Presently, trading has been halted on the company's stock as the dust settles, but one thing is exceptionally clear: pulling in billions in a single quarter won't go over well with Wall Street if its expectations see you pulling in even more.
TUAW Metaliveblog: Apple September 2012 Event
Welcome to TUAW's September 2012 Metaliveblog. We'll be covering Apple's big event at the Yerba Buena Center for the Arts, where we expect the new iPhone 5 to debut -- plus any number of other "amazing new products" promised by CEO Tim Cook. We'll be launching around 9:45 AM PT. Please join us! If you'd like to chat live with other TUAW readers, hop over to irc.freenode.net and join the #tuaw chatroom.
IDC: Android and iOS continue to carve up the world, another record quarter for smartphones
According to IDC's latest figures, Android and iOS now account for 85 percent of the 152 million smartphones shipped in Q2 2012. Google's OS powered 68.1 percent of all smartphones sold -- with Samsung making the hardware behind for just under half of those. Apple's smartphones now claim a 16.9 percent marketshare and while plenty of phone shoppers are holding out for the iPhone's next iteration, iOS still saw double-digit growth in Q2. There's more bad news for both BlackBerry and Symbian platforms, which, combined, accounted for less than 10 percent of all smartphones shipped last quarter. Windows Phone 7, meanwhile, hasn't quite made it to that hallowed third place it reckons it deserves. The mobile OS continues to grow, however, albeit at a gentler rate than both iOS and Android. Microsoft's likely pinning its hopes on the adjustable widgets and meatier specifications of Windows Phone 8 to draw in some new customers this fall.
Redbox, Sony extend distribution deal, keep the movies flowing with no delays
While Redbox's parent company Coinstar rejoiced over earnings results that showed revenue growth that was partially due to last year's price hike, the kiosk movie renter had more good news after extending its DVD licensing deal with Sony Pictures. This means Redbox can rent Sony movies the same day they go on sale in stores and has the option to license Blu-ray movies as well through September 2014, when Sony will have the option of two one-year extensions. We'll still have to wait and see if it can work out an arrangement with Warner and Disney, and what its streaming service has to offer, but more new movies right away is always good.
Time Warner Cable lost 169,000 subscribers, spares DirecTV's blushes
TWC pushed out its second quarter results, showing it's following the trend of shedding customers without hurting the bottom line. It took in $5.4 billion in revenue for the three month period -- with more cash coming from selling higher tiers of service to existing users -- leaving it with a net profit of $452 million. The company reported that it lost 169,000 residential video subscribers but gained 104,000 back across its high-speed data and voice businesses, which it described as "organic decline," but looks more like cord-cutting to us.
DirecTV waves goodbye to 52,000 subscribers in first ever net loss of customers
Viacom's frenemy, DirecTV, has announced that it suffered a net loss of subscribers for the first time in its history. The revelation came in its second quarter filing, which claimed that the exodus is actually a purge -- due to a tighter credit policy and a change of focus toward "higher quality" customers. The dip in numbers hasn't hurt the balance sheet, however, with revenues up seven percent to $5.65 billion, leading to a net profit of $604 million. This time out, there's no reference to the recently-minted deal to keep Viacom's stations on the service, believed to be in the region of $600 million per year -- but we expect it to appear on the books in the next quarterly report.
You've heard of the Child Catcher? Meet the WiFi Snatcher
Remember the Olympic ban on WiFi hotspots to ensure the games' corporate sponsors could sell you back access at a premium? The threat to seize or eject anyone caught using such gear seemed hollow -- after all, how could you be found in a crowd of 90,000? It turns out, LOCOG have employed WiFi police, chasing down unauthorized signals with their big red detectors. Although we should give them some credit -- you'll certainly see them coming from a mile away. [Image Credit: Sadao Turner, Twitter]
Sharp pain continues with $1.2 billion loss in Q1, drastically lowered forecast for 2012
Having already scraped through a disastrous 2011, Sharp had been banking on making a small but significant profit this year. Those hopes have now evaporated, with the Japanese manufacturer's forecast of 20 billion yen ($250 million) in operating earnings for 2012 being revised down to a 100 billion yen ($1.25 billion) loss. That dose of reality is largely the result of the quarter just gone, in which hardly anyone appears to have bought an Aquos TV (despite the 90-incher being pretty amazing) or a Sharp-made LCD panel, and the company made a 94 billion yen ($1.2 billion) loss in the space of just three months. According to Reuters, as many as 5,000 staff may lose their jobs in the company's first major round of lay-offs.
Sony releases Q1 2012 financial results, eats $312 million loss
Sony's first-quarter figures for 2012 show that despite the company's optimism three months ago, it's made a net loss of $312 million. It pulled in a whopping $19.2 billion in sales for the three months ending June 30th, partly credited to bringing Sony Mobile fully into the family. However, the cost of restructuring the Mobile Products and Communications Division (of which Sony Mobile is a part) came to $143 million, wiping out the additional gains to record a loss of $356 million. Gaming-wise, the PlayStation maker suffered a $45 million loss as falling sales of the PSP and PS3 were only partially offset by the sales of the PS Vita. There was better news in its imaging division, while sales of compact cameras fell, DSLRs and "Professional" products took up the slack, resulting in a profit of $160 million. In a trend we've seen across the Home Entertainment industry, sales of LCD televisions continued to fall, forcing the company to eat a loss of $126 million. Movie and TV recorded a loss of $62 million, although that's primarily due to a dip in advertising sales in India and the cost of marketing (but not producing) The Amazing Spider-Man, the profits of which won't be recognized until September. Finally, while it spent big to purchase EMI this quarter, big-ticket albums like Usher's Looking 4 Myself and One Direction's Up All Night helped the division make a profit of $92 million. While Sony's treading water to execute Kaz Hirai's "One" Strategy, it's still got $8.4 billion stashed under the mattress, and in the face of lower sales, is hoping that reduced costs will help it make $1.6 billion in profit by the end of March 2013.
Toshiba slips into the red as latest earnings reveal $153 million loss
Toshiba's most recent fiscal results (the first of its 2012 financial year) show that while the company pulled in $16 billion in turnover, it slumped to a $154 million loss for the last three months. While its "social infrastructure" unit (power plants, LED light bulbs and radiation detectors) generated a $107 million profit, the consumer electronics and white-goods sectors continued to lose sales. The company attributes the loss to further restructuring costs as well as pointing an accusatory digit toward the European financial crisis and concerns about power generation capacity in Japan. Despite the gloom, the company says that it still expects to hit a target of $81 billion turnover and $3.8 billion profit before March 2013.
Inhabitat's Week in Green: 3D printed boat, algae-based biofuel and a bus that does push-ups
Each week our friends at Inhabitat recap the week's most interesting green developments and clean tech news for us -- it's the Week in Green. The Olympic flame completed its tour through the UK this week as the 2012 Summer Games officially kicked off on Friday, and all eyes have been on London ever since. All week long we've been focusing on the Olympics, beginning with an overview of London's new Olympic Park, which is headlined by the Zaha Hadid-designed Aquatics Centre, and Anish Kapoor's controversial ArcelorMittal Orbit observation tower. For a deeper look at the venues that will be on display at the Olympics over the next two weeks, check out our roundup of the top six green buildings at the Olympics. In addition to the sports stadiums, Olympics visitors will also be treated to the sights and sounds of Coca-Cola's multi-sensory Beatbox Pavilion, an interactive sound and light display that responds to touch. But the art installation that we're most excited about is the one by artist David Cerny, who retrofitted a 6-ton London double-decker bus with a gigantic pair of human arms. Best of all, the arms are motorized, enabling the bus to do push-ups.
Just in time for the Olympics, Time Out releases Time Out London for iPad
Time Out has just released Time Out London for iPad. The app offers users a curated mix of suggestions for things to see and do in the host city of the 2012 Olympics. Time Out London for iPad has a Flipboard-esque look and feel to it. On the app's home screen you're presented with multiple tiles, each one representing a venue, restaurant, museum or other attraction. Tap the tile to get the local's detailed information, like opening times, rating, address, and transport routes. This isn't Time Out's first London app. They've offered two others for quite a while now: Things to Do: London and London: Travel Guide. This is, however, Time Out's first London iPad app. Besides being native to the iPad, the app is also built for the Retina display. Another nice feature is that the more you use it, the "smarter" the app gets by showing you venues more suited to your preferences. My only issue with the app is that, for now, it only works in landscape orientation. Hopefully Time Out will add portrait orientation in a future update. Note that Time Out London for iPad isn't only for the Olympics. The app will continue to be useful and supported long after the Games have ended, so it'll always be a good choice for those coming to London. Time Out London for iPad is a free download.
IDC: Samsung and Apple ship almost half of all smartphones, but Korean manufacturer maintains lead
IDC's latest figures offer some predictable reading. More phones are being sold than ever before; 406 million units were sold in Q2, against 401.8 million in the same period last year -- with a 42 percent increase in smartphone sales. The winners? Perennial court antagonists, Samsung and Apple, with the duo doubling their combined market share over the last two years. Samsung maintains its lead, reaching over 50 million phones sold -- and a new quarterly sales record -- while Apple saw a quarter-over-quarter decline, as buyers presumably wait for Cupertino's latest iteration, or go elsewhere. Nokia, meanwhile, had another "transitional" quarter, with sales of both Symbian and MeeGo devices shrinking, although its Windows Phones proved stronger. According to IDC's figures, Nokia and Microsoft's team-up handset sales have doubled since last quarter. HTC misses out on a top three spot, but its fortunes appear to have improved over the last two quarters, with the IDC pointing the finger at a more streamlined product range from the Taiwan manufacturer. ZTE continues to nip at its heels, reaching the top five thanks to strong entry-level smartphone sales in China, while continuing to inch onto US shores. If you're looking for a full breakdown of all phones sold, dumb and otherwise, read up at the source below.
Amazon Q2 2012 earnings: net income down 96 percent to $7 million, net sales up 29 percent to $12.83 billion
When internet mega retailer Amazon kicked off its fiscal year this past spring with $13.8 billion in net sales, the prognosis for the quarter ahead was dour, to say the least. At the time, the company projected its Q2 2012 performance would see an operating loss of $40 million to $260 million versus Q2 2011, as well as a slight down tick in revenue at $11.9 billion to $13.3 billion quarter to quarter. Well, the numbers are in and it looks like the forecast was right on the money. The Seattle-based outfit posted $7 million in net income for the quarter, a year over year loss amounting to a whopping 96 percent decrease. As for net sales, that picture's a bit rosier given the 29 percent increase over Q2 2011 that saw the Bezos-backed co. pull in $12.83 billion -- a figure that would have risen to 32 percent were it not for a $272 million hit due to "changes in foreign exchange rates[.]" Operating cash flow for Q2 2012 was down by nearly half at $107MM compared to the same segment last year. Unsurprisingly, the company's budget Kindle Fire tab -- which has enjoyed relatively weak competition up to now -- is still the number one item across Amazon's site, with titles in its Lending Library growing to over 170,000. Bezos also made note of Prime's growth, pegging that subscription offering's catalog of items at 15 million and highlighting the addition of 18,000 movies and TV shows to its streaming service. As for the future, the company expects Q3 net sales to grow by at least 19 percent year-over-year, landing somewhere between $12.9 billion and $14.3 billion, with a projected operating loss of $50 million to $350 million. Hit up the PR after the break for the full load of financial highs and lows.
Sprint's iPhone gamble isn't paying off as 2012 Q2 figures reveal $629 million operating loss
Sprint's second quarter figures have arrived, showing that the company's billion-dollar gamble on the iPhone isn't working right now. While it sold 1.5 million Apple-branded handsets in the three month period (40 percent to new and postpaid customers), it recorded an operating loss of $629 million and a colossal net loss of $1.4 billion -- compared to an operating loss of $255 million and a net loss of $863 million in the first quarter. Operating revenues of $8.8 billion improved on those in the first quarter by a single percent -- mostly due to higher service fees from its wireless offerings. It's also grown its cash reserves, up from $128 million last quarter to $267 million today, and can point to 442,000 postpaid and 141,000 new prepaid subscribers pushing the company's customer base up to 56 million nationwide -- mentioning that 60 percent of former Nextel users chose to remain with Sprint during the enforced change. The figures reveal that Sprint's eating around $782 million due to the shutdown of the Nextel platform and a further $184 million to end leases on antenna sites for the moribund network. It's also having to take a hit of $204 million due to its investment into infrastructure partner Clearwire. It's affirmed its $1 billion lending facility, contingent upon purchasing gear from Ericsson to help build its LTE network, which it aims to have installed in 12,000 sites by the end of the year. Of course, that purchase was prompted by the collapse of Philip Falcone's doomed LightSquared project, which caused the Now Network to lose $66 million in cash and its childhood innocence when it comes to trusting other people. Update: Big Yellow also mentioned that it has no plans to adopt a shared data plan to follow AT&T and Verizon.
Nintendo Q1 results: Wii sales cut in half since 2011, but 3DS sales more than double
Nintendo's results for the latest quarter reveal growth in profit for the Japanese games maker. Gross profit totaled 24.9 billion yen -- more than double that made from last year's Q1. Operating income remains negative, but substantially reduced since last quarter's statement -- presumably due to strong 3DS sales. Today's results tie in with the launch of both the 3DS XL and Nintendo's first downloadable titles for the 3DS, with sales of the handheld reaching 1.86 million units during the last quarter. Conversely, sales of the Wii have tailed off, with only 710,000 units sold in Q1, down from 1.56 million sold in the same period last year. Fortunately, according to the press release, Nintendo still aims to launch its Wii successor by the end of this year.
London bans wireless access points, joy, kittens from the Olympics
If you thought the list of banned items at the Olympic Games couldn't get any longer, now the IOC is gunning for that mobile hotspot in your pocket. The prohibited list includes all of the things you'd expect (weapons, alcohol, toxic materials) but also this: "Personal / private wireless access points and 3G hubs (smart devices such as Android phones, iPhone and tablets are permitted inside venues, but must not be used as wireless points to connect multiple devices)" Probably best to leave that router at home and make sure you only activate your smartphone's hotspot when you're hidden in a crowd, folks.
ARM sees profit surge 23 percent, tests forecasters' patience
Just when financial boffins expected ARM's consistent double-digit growth to slow-down, the company has beaten their projections with a 23 percent rise in pre-tax profit compared to Q2 of last year. It made £66.5 million ($103 million) in profit from £135.5 million ($213 million) in revenue from its numerous mobile and low-power processor design licensees. Analysts expected lower performance for the simple reason that the world's biggest chip-makers have warned of tougher "macroeconomic" times ahead -- rival Intel has been careful to dampen people's hopes for its next quarter, for example, and Qualcomm (a major ARM customer) has also reduced its forecasts. Still, it's all just different shades of rolling in it.
Yahoo reports Q2 2012 earnings, revenue remains unchanged
Not even 24 hours since announcing its new CEO, Yahoo's announced its financial results for the second quarter, with only a few financial figures of note. Revenue was reported at $1.2 billion, barely changing since the same period last year. Net income totaled $228.5 million, down from $238.5 million from Q2 2011. With its new leader in tow, the company still aims to sell half of its stake in Alibaba, which totals around 20 percent of its shares. Taking a closer look, most of its revenue came from Yahoo's own products; about $535 million came from display ads, while $461 million from search. It reiterated the deal it struck with Facebook when it came to patent issues between the pair and future advertising tie-ups that are still in the pipeline. Hit up the press release for all the details.
IDC and Gartner: PC market flattened out in Q2 while Apple, ASUS and Lenovo remain the stars
Microsoft's Steve Ballmer might be working overtime to keep Apple at bay, but the PC market that his company largely built is hurting, if you ask researchers at Gartner and IDC. Both estimate that shipments of traditional computers dropped by a tenth of a point in the second quarter of 2012 -- not a good sign when Intel's Ivy Bridge processors and a wave of Ultrabooks were supposed to usher in a PC renaissance. While the exact numbers vary, the two paint a partly familiar picture of the world stage: HP and Dell are taking a bruising, while ASUS and Lenovo are making huge leaps forward. Depending on who you ask, though, Acer is either kicking Dell down to fourth place or occupying that all too comfortable spot itself. The economy and tablets are once again blamed for making would-be PC upgraders jittery, although this time it may also be the wait for Windows 8 leading some to hold off. If there's a point of contention, it's the US figures. Gartner and IDC alike agree that Acer, Dell and HP all took a drubbing. The two analyst groups are at odds with each other when it comes to everyone else, though. Apple will have gained market share to as much as 12 percent, but either increased or shrank its shipments; it's Lenovo or Toshiba completing the top five outside of the usual suspects. Accordingly, take results with a grain of salt until all the PC builders have reported in. Nonetheless, if the groups have the same reasonable level of precision as they've had in the past, Microsoft may have to defer its ambitions for a little while longer.
