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Clearwire Q4: revenues up, costs down, LTE expensive
Things are looking up at Clearwire, its Q4 revenue came in just over Wall Street's estimates at $362 million, split between $198 million retail and $164 million wholesale -- with the latter figure up 20 percent over the last quarter. It pointed a finger at increased smartphone usage and slashed operating costs (spending only $82 million) as the reason for the bump. With this being Clearwire, it's still in the business doldrums, relying on handouts from Sprint to keep it going. It's planning to flog off around $300 million of debt to "qualified investors" as a way to ensure sufficient funding for the forthcoming LTE rollout. If you're interested in this sort of thing, you can read the full breakdown after the interval, presumably storming around pretending that you're Gordon Gekko.
Texas Instruments 2011 Q4 earnings: $3.42 billion in revenue, $298 million in profit
It's that special time of year after CES, when many tech companies regale us with their latest earnings reports. Texas Instruments is the most recent firm to divulge its financials, and while the company isn't breaking any records, it did beat Wall Street's expectations. TI pulled in $3.42 billion in revenue, a three percent dip from the previous year, and profit dropped to $298 million from the $942 million it made in Q4 2010. While the company's spinning the numbers as a positive, stating that orders for its chips are up and its revenue beat estimates, the fact that TI's closing two manufacturing plants over the next year and a half doesn't paint such a rosy picture. Of course, if the future with OMAP 5 is as good as we think it is, Texas Instruments should be just fine.
RIM reports Q3 2011 earnings: $5.2b revenue, $265m net income and 14.1 million handsets shipped
News out of Waterloo isn't all bad today, as Research in Motion has revealed its financial results for the third quarter of 2011. While the company previously had to scale back its earlier earnings projections of $5.6 billion in the quarter, it's apparent the firm came close to meeting that mark. After close of the markets today, RIM reported $5.2 billion in revenue with $265 million in net income and 14.1 million handsets shipped. The company was only able to eke out 150,000 PlayBook tablets during this time frame, however, which no doubt contributed to these reduced numbers. Unfortunately, the market hasn't taken so kindly to the revelation, as RIM's stock has fallen seven-percent in after hours trading. In a small bit of positive news, the firm reports that its subscriber count is up 35-percent year-over-year, which now totals 75 million subscribers. Looking forward, the company expects to bring in between $4.6 and $4.9 billion in revenue for the next quarter, where it hopes to ship between 11 and 12 million units. Co-CEO Jim Balsillie referred to the last few quarters as among the most trying in the company's history, and promised to re-evaluate RIM's product portfolio, R&D strategy and to "leave no stone unturned" as it seeks to regain prominence in the smartphone world. Meanwhile, co-CEO Mike Lazaridis reaffirmed the commitment to the PlayBook OS 2.0, which remains on track for a February launch. As for the QNX-based BlackBerry 10 smartphones that we've been looking forward to, Lazaridis said to not expect anything until late 2012. Apparently, its availability will be hampered by a critical chipset supply that's not expected to become available until mid-next year. In other words, unless consumers develop a love for BlackBerry 7 OS real quick, 2012 may sadly be another ugly year for the folks in Waterloo.
Dish Network's Q3 profits rise 30 percent, but subscriber base diminishes
The third fiscal quarter of this year saw the best of times and the worst of times for Dish Network. On the positive side of the ledger, the company saw net revenues grow by 12.3 percent since Q3 2010, reaching $3.6 billion. Profits, meanwhile, jumped by 30.3 percent over the year to $319 million, compared with the $245 million it raked in during the third quarter of 2010. Dish said the jump in revenues could be partially attributed to its acquisition of Blockbuster and the subsequent launch of Blockbuster Movie Pass, which the company hopes to expand and build upon going forward. The report wasn't entirely rosy, however, as Dish Network saw a net loss of about 111,000 subscribers during the quarter (about 20,000 more than analysts had predicted), bringing its total to approximately 14 million customers. By contrast, during the third quarter of last year, the company added about 327,000 users. But this decline didn't stop Dish from doling out a rare $2.00 per share dividend to investors, which may make its less savory results a bit easier on the stomach. Check out the full report, after the break.
Lenovo posts Q2 earnings, sees increase in profits, shipments and market share
The quarterly earnings stats just keep rolling in today -- this time, from Lenovo, which has just posted yet another stellar report. According to the company, profits for the second quarter of this year reached $145 million, marking an 89 percent increase over the same period last year. Consolidated sales, meanwhile, rose by 35.8 percent to a record $7.8 billion, giving Lenovo a worldwide quarterly market share of 13.5 percent, also its highest ever. Laptops, not surprisingly, were at the forefront of this surge, accounting for 57.5 percent of the company's total revenue, with PC shipments rising 35.4 percent over the year. Lenovo also saw a 25.4 percent increase in shipments to China, as well as a 54.5 percent year-over-year increase in shipments to mature markets, including Western Europe and the US. For more statistical delights, check out the full PR, after the break.
Cablevision reports Q3 earnings, sees profit fall by 65 percent, drop in video subscribers
It's safe to say that Q3 2011 probably won't be remembered as Cablevision's finest. According to the provider's latest earnings report, profits declined by a full 65 percent over the year, with net income plunging to $39.3 million this quarter, compared with the $112.1 million it raked in during the third quarter of 2010. The company also reported a loss of 19,000 video subscribers during Q3, though it added 17,000 broadband customers and 38,000 telephone subscribers. Total customers, however, declined by 15,000 over the past three months. Revenue, meanwhile, increased by eight percent to $1.7 billion, though the New York-area operator lost about $16 million to Hurricane Irene -- not to mention all those legal fees. Smell that? That's a big platter of PR, sitting right there after the break.
Hon Hai sees profit fall nine percent in Q3, pins hopes on new Chinese factories
Hon Hai Precision Holdings has just released its Q3 earnings report, and it probably did so with a whimper. That's because net profits fell to NT$19.2 billion (about $614 million) this quarter, marking an 8.6 percent decline from Q3 2010, when Hon Hai (aka Foxconn) reported a net income of NT$21 billion (around $702 million). The company blamed the decline on a slow economic recovery and its ongoing expansion in China, where new factories are being constructed across inland areas like Chengdu, Wuhan and Zhengzhou. These costs are still taking a toll on Hon Hai's bottom line, though analysts say the expansion could pay off in the long-run, thanks to the lower wages that Hon Hai will have to pay to maintain operations in these less affluent regions. Some are also hopeful that the iPhone 4S will help spur production heading into Q4 of this year, though its ultimate effect, of course, remains to be seen. Hit up the links below for more details and analysis.
HTC releases Q3 earnings report: profit up 68 percent, shipments soar 93 percent
It's been another stellar quarter for the folks over at HTC. According to the company's Q3 earnings report, released today, net income rose to NT$18.68 billion (about $624.6 million) this quarter -- a 68 percent increase over Q3 2010 and a seven percent bump over last quarter, when HTC reported record profits. Revenue, meanwhile, rose by 79 percent on the year to NT$135.8 billion (around $4.54 billion), which the manufacturer attributed to "strong brand recognition, leading product portfolio and expanded distribution channels." On a regional level, HTC saw the strongest growth in China, where sales increased by a factor of nine over the past year. This undoubtedly helped the company boost handset shipments, which increased by a whopping 93 percent over the year, to 13.2 million units. For more details and crunchy numbers, hit up the source links, below.
Motorola Mobility reports $3.3 billion in revenue and $32 million net loss, offers more details on Google buyout
Just in time for the company to be acquired by Google, Motorola Mobility is beginning to right the ship, as evidenced by today's quarterly earnings report. The company reported total net revenues of $3.3 billion -- precisely the same amount earned last quarter, incidentally, and up 11 percent from this time last year -- and a GAAP net loss of $32 million. While the number may put frowns on a few faces, it's still an improvement from Q2's loss of $56 million, and more than half ($18 million) of the losses were attributed to expenses from the Google acquisition. Mobile device revenues are up 20 percent year-over-year and 11.6 million devices were shipped, including 4.8 million smartphones and 100,000 Xoom tablets. On the regulatory front, Moto offered a few new details about the progress of the company's acquisition. It announced that it will hold a meeting with stockholders on November 17 to gain approval of the Google merger, and -- pending antitrust clearance by the US Department of Justice, the EU and several other government entities -- expects to close the transaction by the end of this year or early 2012 at the latest. Check out all of the numbers after the break.
Nintendo posts first half loss in earnings report, slashes forecast yet again
Nintendo's latest earnings report may be one of its most forgettable. The company posted a net loss of ¥70.27 billion ($923 million) this morning, in a report covering the first six months of the fiscal year ending on September 30th. That's significantly deeper than the ¥2.01 billion loss Nintendo posted during the same period last year, though Nintendo attributed the result, in part, to a strengthened yen and sagging demand for its 3DS console. Revenue, meanwhile, fell by 40.6 percent on the year, to ¥215.74 billion ($2.84 billion), as the manufacturer reported an operating loss of ¥57.34 billion. Things are looking so bleak, in fact, that Nintendo has decided to slash its financial projections yet again, predicting a net loss of ¥20 billion for the full year (ending in March 2012), compared with the ¥20 billion in profits it projected only in July. And, as Bloomberg notes, if these prognostications hold true, it would mark Nintendo's first annual loss in a full 30 years. Ouch. Check out the full report for yourself at the source link, below.
Intel earnings beat company records: $14.3 billion revenue, $3.7 billion net income
Apple may not have fared as well as expected in its own Q4, but just up the road in Silicon Valley Intel managed to exceed analyst predictions, posting record revenue of $14.3 billion -- up $3.2 billion, or 29 percent year-over-year. The company also set new records for microprocessor units shipped, and expects further growth over the next quarter, with notebook computer sales driving $14.7 billion in predicted Q4 revenue. Jump past the break for an in-depth look at the company's Q3, along with its outlook for the next quarter.
Sony Ericsson posts lower Q3 profits, will shift 'entire portfolio' to smartphones in 2012
It's been a rough couple of quarters for Sony Ericsson, but things are looking slightly rosier, according to its Q3 earnings report. Today, the company announced break even year-on-year results for the third quarter of 2011, blaming the outcome on lower profit margins and higher taxes, which rose from €12 million to €17 million over the course of a year. According to the report, net profits fell to zero this quarter after reaching €49 million ($67.26 million) during Q3 2010, while sales dropped to €1.59 billion ($2.18 billion) from €1.6 billion ($2.2 billion) last year. It's not exactly an encouraging trend, but it's certainly an improvement over the last quarter, when Sony Ericsson posted a net loss of €50 million. As far as its portfolio goes, the company says its Xperia smartphones now comprise 80 percent of all sales, with some 22 million handsets already shipped to consumers. President and CEO Bert Nordberg, meanwhile, confirmed that his company will focus on this market with even more intensity, next year: "We will continue to invest in the smartphone market, shifting the entire portfolio to smartphones during 2012." You can dig through the numbers for yourself, in the full PR after the break.
RIM's Q2 earnings report: $329 million in net income, not enough to fend off critics
The first quarterly earnings report post-Wake Up Call have just been published for Canada's own Research in Motion, and while the cash is still flowing, investors and analysts alike aren't feeling too rosy about the future. Despite Q2 revenue of $4.2 billion and a GAAP net income of $329 million, RIM's stock plummeted nine percent following the news. Why? That reality was at the lowest end of estimates, and as we've seen, it takes a blowout quarter to please the folks on Wall Street. Nevertheless, the company's touting a subscriber base that ballooned 40 percent year-over-year (surpassing 70m total), and while it's quick to trumpet the rollout of seven new smartphones, not a one of them managed to astound the QNX-desiring critics. The report also notes that 10.6 million handsets were moved in the quarter, around $780 million was invested as "part of a consortium of companies that successfully bid to acquire intellectual property assets from Nortel," and it's forecasting that BlackBerry smartphone shipments in Q3 will grow between 27 percent and 37 percent compared to Q2. Sadly, the company only "shipped" 200,000 PlayBook tablets, with the prevailing thought being that it actually sold far fewer. Moreover, nary a forecast was given for future PlayBook sales.As for thoughts from the head honcho(s)? Jim Balsillie, Co-CEO, stated that "overall unit shipments in the quarter were slightly below our forecast due to lower than expected demand for older models," further noting that his firm will "continue to build on the success of the BlackBerry 7 launch to drive the business as we focus our development efforts on delivering the next generation, QNX-based mobile platform next year." Next year is a long, long way away, though, and there's no doubt whatsoever what kind of competition will be in place by the time 2012 rolls around. We'll be hopping on the analyst call here in a few, and you can look beyond the break for any notable mentions.
Dell's Q2 earnings fall short of estimates: $890 million net income, $15.66 billion revenue
Shares of Dell were down nearly eight percent in after-hours trading after the Texas-based PC maker posted lower-than-expected second-quarter results. Still, the company's revenue was up one percent over last year, totaling $15.66 billion, compared to $15.5 billion in Q2 2010. Net income jumped 63 percent, from $545 million to $890 million, over the year-ago quarter. Corporate and government orders were responsible for the jump in income, according to an AP report, but new sales predictions hint that orders may not be coming in as often as anticipated. Dell expects modest growth of one to five percent for the full year -- citing "a more uncertain demand environment" -- compared to previous estimates of five to nine percent growth. Jump past the break for the full rundown from Dell.
Square Enix working on a new MMO
It's been a tough year for Square Enix, but the studio isn't down and out just yet. On the contrary, during a recent earning briefing CEO Yoichi Wada mentioned that the company is developing another title to be run alongside Final Fantasy XI and XIV. While the details are scarce, Wada said that this goes along with the company's strategy to run two to three MMOs at the same time in order to maintain a strong cash flow. According to the report, Square Enix is focused on developing several new IPs in addition to strengthening its current lineup. Wada said that the new game will be announced by April 2012. This doesn't mean that the studio is abandoning its promise to bring Final Fantasy XIV up to par, a focus that Wada says remains a priority.
HP releases 2011 Q2 earnings early, following leak of foreboding internal memo
HP kicked off this morning's Q2 earnings call citing a leaked company memo that recently popped up at Bloomberg. That memo, which had the outfit's CEO, Leo Apotheker warning of "another tough quarter," resulted in a five percent drop in HP shares in after-hours trading Monday, according to the Wall Street Journal, and prompted the release of the outfit's Q2 earning a day ahead of schedule -- an earnings call was originally slated for Wednesday. According to the report, the company managed to pull in $31.6 billion in revenue and $2.3 billion in earnings, compared to $30.8 billion in revenue and $2.2 billion in earnings the same time last year. So what brought about the pot-stirring internal memo? Well, it seems HP's struggled to keep up with the competition when it comes to consumer computer sales. Despite an increase in revenue in every other segment of the company's business, HP's Personal Systems Group (which covers enterprise and consumer sales) saw revenue decline five percent year-over-year, with the portion covering consumer computers down 23 percent. That might seem like a big dip, and it is, but Apotheker says the company is "excited by the tablet opportunities," continuing on to say that the impending release of the company's TouchPad "will be an exciting product release for HP." For now, we'll just have to sit back and see if the webOS slate has the stuff to pull HP out of the consumer computer lurch. Full PR after the break.
Qualcomm reports record quarterly revenues, boasts 100th Snapdragon device
Qualcomm's back again with yet another set of impressive numbers. For the second quarter of this fiscal year, the chip giant saw record earnings of $3.88 billion, up 46 percent from the same quarter in the previous year, and collected $999 million of sweet profit which is a 29 percent jump from last year. This is no doubt to do with the 70 percent increase in the MSM7000- and MSM8000-series Snapdragon shipments in this half of the fiscal year (compared to 2H 2010), and it should be noted that this quarter also saw the 100th Snapdragon-powered device announced by a Qualcomm client. Additionally, EVP Steve Mollenkopf reassured us that the recent events in Japan won't have any significant impact on upcoming shipments, so the 30 Snapdragon tablets in the pipeline should arrive as scheduled. Excerpts from the financial report can be found after the break.
Sony posts $887 million net profit, PlayStation has strong holiday quarter
Sony had quite a good holiday during its third quarter for fiscal year 2010, posting a ¥137.5 billion (approximately US $1.68b) operating income. Year-over-year, however, it's actually six percent lower than Q3 FY09, with some blame attributable to a five percent stronger yen. Although sales were more or less the same in most divisions (with pictures and music seeing a more noticeable drop), operating income saw dramatic changes. Consumer, Professional and Devices dropped 47 percent to ¥26.8b ($327.3m), while Networked Products and Services (which includes the PlayStation brand) jumped a whopping 134 percent to ¥45.7b ($559.78). Looking at unit sales, Bravia sets were way up (7.9m units versus 5.4m in Q3 FY09), and video cameras, compact digital cameras, and PCs all saw moderate gains. PSP hardware took a pretty big hit, going from 4.2m last holiday to 3.6m this past quarter (the now-profitable PlayStation 3 saw a slight decline, 6.5m to 6.3m). Software-wise, though, both gaming machines saw a bump -- 57.6m (from 47.6m) for PS3 and 16.4m (from 15m) for PSP. The PlayStation 2, now almost 11 years old, actually had about the same 2.1m hardware unit sales YOY, though software took a pretty hard hit (from 11.2m to 5.3m). Sony's golden years console isn't going down without a fight -- then again, it might've been a different story had the company managed to add backwards compatibility to the PS3.
Qualcomm has best quarter ever, teases a host of Snapdragon tablets
If you've got a speedy Snapdragon in your smartphone, Qualcomm's the one to thank -- but considering the raw earnings figures shared yesterday, your dollars have applauded the firm enough already. Qualcomm reported record earnings of $3.35 billion for its first fiscal quarter of the year, up 25 percent since Q1 2010, and it raked in a nice fat $1.17 billion of that in profit, 39 percent more than last year. That's thanks to shipping 118 million of those Mobile Station Modem (MSM) chips that power mobile devices, as well as other ventures, and the company expects revenues to continue their upward bent as 2011 progresses -- thanks to new devices on the way. Qualcomm EVP Steve Mollenkopf told investors that "we currently have more than 150 Snapdragon devices in development, including more than 20 tablets," and that the dual-core 1.2GHz MSM8660 in particular was picking up steam, with over 60 devices slated to use the dual-mode chipset with HSPA+ and EV-DO Rev. B. What of a groundbreaking deal with Apple to power new iPhones and iPads? CEO Paul Jacobs wouldn't say: "We're happy to see the Verizon iPhone announcement since it's been the subject of intense speculation, but we have no other comments on that topic." Guess we'll have to wait and see.
Microsoft announces a record first-quarter revenue of $16.20 billion, $5.41 billion in profit
Microsoft just beat analyst expectations, announcing $16.20 billion in revenue for the first quarter of its 2011 fiscal year, with $5.41 billion in profit. Microsoft cites Office 2010, the sustained "PC refresh cycle," and 38 percent growth in the Xbox 360 biz for its good news, with overall revenue up 25 percent over the same quarter last year and a 51 percent gain in profit. The Xbox 360 has been at the top of the console heap for four months running, which can't hurt. Microsoft will have an earnings call to discuss its results at 5:30PM EDT, so we'll be keeping our ears peeled for Steve Ballmer to pull a Steve Jobs, hijack the call, and rag hard on the competition -- if only we lived in a world of such beautiful symmetry.
