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  • ZTE's 2013 Q1 sees profits of $33 million despite three percent sales slide

    ZTE has managed to break a run of two straight quarterly losses by posting a net profit of $33 million in its first 2013 financials. Unfortunately, the extra cash has come from selling a $133 million stake in surveillance firm Shenzhen ZNV, rather than any surge in handset popularity. A three percent fall in sales, project holdups, and squeezed margins have all helped to heap woes onto ZTE's plate -- not to mention the ongoing hostility from the folks in Congress.

    Daniel Cooper
    04.26.2013
  • Samsung's official Q1 earnings show $6.4 billion in net profit

    Samsung Electronics has released its Q1 2013 numbers and as it predicted a few weeks ago, business continues to boom. Operating profits are 8.78 trillion won as predicted, while net profit is up to 7.15 trillion won ($6.4 billion), up sharply from the same quarter last year when its net profit was 5.50 trillion won. Last year at this time we were still anticipating details on the Galaxy S III, but this time around Samsung is on the eve of its worldwide launch for the Galaxy S 4, which should push sales even higher. According to the documents, it's maintained a "steady pace" for Galaxy S III sales, while Note II sales increased and the Tab2 series increased momentum. The news isn't as good for PCs, shipments decreased due to weak demand. earnings in its TV business were also down from last quarter, blamed on the same lower overall market demand noted by LG in its earnings. While analysts asked the questions w'ed like to hear more about on the earnings call -- software updates to Android phones, the future of Tizen -- the responses were predictably bland. Samsung did mention it plans to push Android updates to customers faster than the competition, a trend that hopefully catches on. Hit the link below to check out a PDF with all the slides, or look after the break for a press release detailing this quarter's results.

    Richard Lawler
    04.25.2013
  • MetroPCS reveals Q1 earnings, will make T-Mobile merger official April 30th

    By now, you're probably aware that MetroPCS shareholders voted in favor of a merger with T-Mobile, and with regulatory red tape out of the way, both companies are now set to become one on April 30th. Now, MetroPCS has laid its Q1 2013 financials bare, which provides us with an excellent peek at T-Mobile's future partner. First off, the company is making money, and its operational income is actually rising, but it's also dealing with increased costs from loans, taxes and the like. Overall, MetroPCS reported a net income of $19.4 million for the first quarter, which is down from $21 million just one year ago. Speaking of loans, MetroPCS has a ton of them. Its liabilities now sit at $10.3 billion, and its managed to take on $3.4 billion in financing during the last year alone. From a balance sheet perspective, 75 percent of the company's assets exist as debt, and this is a burden that T-Mobile must now take on. Naturally, much of this merger was in effort to score additional spectrum, but Ms. Magenta also stands to gain 9 million new customers once the deal completes, 39 percent of which are LTE subscribers. Better yet, with a churn rate of 2.9 percent, they're sticking around now more than any previous time in company history.

    Zachary Lutz
    04.24.2013
  • Sprint reports quarterly net loss of $643 million, sees iPhone sales drop by a third

    Sprint managed to lose a million customers and over a billion dollars last quarter. This time it's not quite as bad, with a net loss of $643 million on revenue that was broadly equivalent to the same quarter of last year (around $8.8 billion). Those following the carrier's big iPhone gamble will note that sales of Apple smartphones fell by around a third relative to last quarter, from 2.2 million down to 1.5 million. Total smartphone sales reached 5 million, which Sprint describes as "strong" and which helped it to slightly increase the amount of profit it makes from each postpaid customer. However, this wasn't enough to offset the impact of losing another half a million customers, specifically due to the ongoing exodus of Nextel subscribers. Partly as a result of this, the company's revenues continue to be wiped out by its huge costs of doing business -- not that its potential suitors seem to mind.

    Daniel Cooper
    04.24.2013
  • LG Q1 earnings come in lower than last year, but phone sales are up

    LG has released its earnings report for the first quarter of 2013, and while they were down overall from last year, there is good news to report for its phones. A net profit of $20.3 million is lower than Q1 2012's $214 million -- but better than Q4's lawsuit-related $428 million loss -- blamed on weaker earnings in its home theater business. The good news is reserved for phones, where sales were up 30 percent from last year thanks to devices like the Optimus G (original, Pro and Nexus 4) and L series. Home Entertainment sales dropped to their lowest level in the past year, blamed mostly on a decline in plasmas and professional displays. Q2 is expected to be another good one as the Optimus L Series II, 5.5-inch Optimus G Pro and Optimus F ship worldwide. According to LG its LCD sales were actually up thanks to growing demand in Europe and China, but profits took a hit because of increased competition. While it doesn't expect the overall market to change, it is looking for better results in Q2 as its new Smart and 3D TVs hit shelves along with upcoming 4K and OLED sets. We'll keep digging through the numbers for more details, check the source link below to take a look for yourself.

    Richard Lawler
    04.24.2013
  • AT&T Q1 2013 earnings: $3.7 billion income on revenue of $31.4 billion

    AT&T just posted its earnings for the first quarter of 2013, and the market couldn't help but ding the company, which is now trading down in after hours markets. The business as a whole posted a net income of $3.7 billion, which is slightly up from $3.6 billion one year ago. Meanwhile, company revenues took a slight hit, which sit at $31.4 billion -- down 1.4 percent from the previous year. In terms of the company's wireless business, though, there's plenty of reason for optimism. The company was able to snag an additional 296,000 postpaid subscribers and put a solid 1.2 million people on smartphone plans during the quarter. For those keeping track, smartphone sales now account for 88 percent of AT&T's postpaid handsets. Unsurprisingly, the company is making more money than ever off of its data plans, which account for $5.1 billion of the company's business. As for the wireless segment as a whole, income is up 21 percent and AT&T is pulling in revenues of $16.6 billion with a 28 percent profit margin. Encouraging signs were also revealed for U-verse, as the company's broadband service netted an additional 731,000 internet subscribers and 232,000 television subscribers during the quarter -- its best performance in two years -- for a grand total of 8.7 million subscribers. Naturally, one segment of Ma Bell's business isn't looking too hot, and that's the traditional wireline business, as revenues have fallen 10 percent from the previous year. Given the size of this segment, and the weakening demand for the service, it's easy to understand why investors might be slightly uneasy, even in light of all the encouraging news.

    Zachary Lutz
    04.23.2013
  • Netflix added 3 million subscribers worldwide in Q1, will offer a 4-stream $11.99 plan

    Netflix has reported its financial results for the first quarter of 2013, and in that period it's added over 3 million customers worldwide. Domestically it added 2.03 million customers alone, pushing its total number over 30 million (including trial users) in the US. That means it's passed HBO in paying subscribers for the first time ever, while notching $2.69 million in net profits on $1.02 billion in revenue for the quarter. Internationally there were over a million new sign-ups and it's planning to launch in a new European market during the second half of this year, which we should hear more about on its Q2 earnings call in July. One change all users will notice is to its package of streaming plans, as CEO Reed Hastings mentioned an $11.99 per month option is incoming that will allow subscribers to stream as many as four videos simultaneously, up from the current official limit of two. There's some question over whether Netflix will begin to crack down harder on account sharing, but Hastings claims he expects less than one percent of users to opt for the new plan. The company is also continuing to test the personalized profiles we got a peek at during CES, and expects to roll them out "in the coming months." Another major note is that as it expands its suite of original content, it's shifting focus away from some of existing "bulk, nonexclusive" licensing deals and will let a major one from Viacom expire in May. Specifically referenced is content from Nickelodeon, MTV and BET, although it's negotiating for access to particular shows. In the future, its preferred option will be exclusive deals with the studios that produce the shows, like the one it announced earlier this year with Warner. Check after the break for a few more details, including updates on the progress of some of its original series.

    Richard Lawler
    04.22.2013
  • AMD Q1 2013 earnings: softer $146 million net loss on $1.09 billion revenue

    Just two days after the earnings report of its storied rival, AMD has followed suit with a Q1 2013 balance sheet of its own. The company reported a net loss for the quarter of $146 million, which stings, but isn't quite so painful as the $473 million loss that it took just one quarter earlier. Meanwhile, AMD's revenue of $1.09 billion is more or less flat from the previous quarter, but has fallen by $500 million since Q1 of the previous year. The announcement was enough to make investors wince, as AMD's stock price is now declining in after-hours trading. As for a silver lining, AMD emphasized that its gear will power the upcoming PS4. If Microsoft were to make a similar decision, then perhaps AMD could turn its financial frown upside-down.

    Zachary Lutz
    04.18.2013
  • Google Q1 2013 earnings: $14 billion in revenue, $3.35 billion net income

    Google's out with its first quarter earnings this afternoon, and it's reporting an even $14 billion in revenue, with net income clocking in at $3.35 billion. That's a 31 percent increase year-over-year on the revenue side, and nearly a half billion dollar increase in net income (up from $2.89 in the same quarter of 2012). Compared to more recent quarters, though, the growth is a bit more flat: both Q3 and Q4 of 2012 were also around the $14 billion mark. In a statement, CEO Larry Page nonetheless characterized the numbers as a "very strong start to 2013," adding that Google is "working hard and investing in our products that aim to improve billions of people's lives all around the world." As for how the company's Motorola acquisition is working out, that division has seen a fairly steep drop in revenue, from $1.51 billion in the last quarter of 2012 to just over $1 billion this quarter, with it reporting an operating loss of $271 million. You can dig through all the numbers yourself in the press release after the break and at the source link below.

    Donald Melanson
    04.18.2013
  • Nokia hits $7.7 billion in revenue for Q1 2013 with 5.6 million Lumias sold

    Nokia may have seen an operating loss in Q1 2013, but the news isn't all bad. The company saw revenue of $7.7 billion and managed to sell 5.6 million Lumias, which equates to a 30 percent increase in handset sales over last quarter. As for earnings, Nokia put a shiny buff on them by trumpeting a net profit of $236 million using the non-IFRS accounting method. By stricter IFRS rules, it actually lost $150 million, but that still compares favorably to the vast billion dollar losses it made in the same quarter of 2012. Of the Finnish outfit's handset sales, North America accounted for a mere 400,000 out of the 61.9 million sold compared to the 700,000 it sold last quarter, making it the only region that saw a decline during the period. Other regions, like China, saw a large bump in smartphone revenues, largely due to the popularity of pricey handsets like the Lumia 920. CEO Stephen Elop said the company's bullish on Lumia sales, considering the (rumored) Lumia 928 coming to Verizon, along with the recently launched Lumia 520, 620 and 720. He said that sales of other devices were a dark spot, however -- so the company's likely hoping all the new WP8 devices will offset those lost sales next quarter.

    Steve Dent
    04.18.2013
  • Samsung's estimated profits for Q1 top $7.7 billion on the eve of the Galaxy S 4

    As it's known to do, Samsung Electronics has released early estimates for its quarterly earnings and Q1 of 2013 was another good one for the company. According to reports, its operating profit is expected be around 8.7 trillion won ($7.7 billion), pushed by sales of its current smartphone lineup even as its new standard bearer, the Galaxy S 4, waits in the wings. The projections slot in lower than its record setting $8.27 billion Q4 2012, but still up significantly from last year's $5.16 billion operating profit for the same period. More detailed breakdowns by division will be available in the full report April 26th, but we're getting the idea they're doing just fine.

    Richard Lawler
    04.04.2013
  • T-Mobile reports 'first positive branded (customer) growth in four years'

    Right on the heels of its announcement of becoming the "UnCarrier", T-Mobile has dropped an early update on customer count for Q1. While its full earnings won't be announced until May 8th, it noted a net increase of 579,000 customers for the period, compared to a net loss of 349,000 in Q4 of 2012. It claims the increase was primarily due to continued focus on growing its MVNO customers base. Postpaid customer losses for Q1 are 199,000, far better than Q4's drop of 515,000, and 510,000 in the same period last year. President and CEO John Legere is certainly looking at the bright side (and keeping his language clean this time) claiming the data represents "positive momentum and the first positive branded growth in four years." We'll wait until the dollars and cents are counted -- and results from after its switch to no-contract plans and unsubsidized phone pricing are in -- before flying the magenta victory flag.

    Richard Lawler
    04.04.2013
  • HP Q1 2013 earnings: $1.2 billion in profit on revenue of $28.4 billion

    HP's stock is climbing in after hours trading from news of the company's quarterly financial results. The Palo Alto firm has posted a profit of $1.2 billion for the first quarter, which is based on revenues of $28.4 billion. While the results fared better than HP's previous expectations, both profit and revenue have fallen year-over-year for the Silicon Valley mainstay, down 16 percent and six percent, respectively. With respect to the company's divisions, personal systems, printing, enterprise, services and software have each taken a hit from the previous year, with HP's financial services segment being the only unit to show growth (despite the fact that financing volume is also down). Beyond the sagging numbers, Meg Whitman is offering reason for optimism to investors, saying the company will bring "a number of new programs and disruptive innovations to market in the coming quarters, and we expect the benefits from our restructuring will accelerate through fiscal 2013." For the complete breakdown of HP's financial health, just hit up the source link.

    Zachary Lutz
    02.21.2013
  • Qualcomm Q1 2013 earnings: $1.91 billion in profit on revenues of $6 billion

    The folks in San Diego are making it rain once again, as Qualcomm has just announced its earnings for the quarter with $6 billion in revenues, which represents a 29 percent year-over-year increase and a new record for the firm. It seems the company's Snapdragon chips are everywhere you look these days, and it should come as no surprise that Qualcomm also hauled in a profit of $1.91 billion, which is a 36 percent hike over the previous year. Seeing that the company is so well off, it's also announced a cash dividend payment of $428 million that will go back to shareholders, along with stock repurchases in the amount of $250 million. In case you were wondering, Qualcomm managed to push 182 million of its SoC's out the door during Q1, which represents a 17 percent year-over-year increase. With the Snapdragon 800 due by mid-year, we've a feeling that it'll keep raining in San Diego for some time -- even if the nice weather says otherwise.

    Zachary Lutz
    01.30.2013
  • Tim Cook announces town hall meeting

    According to 9 to 5 Mac, CEO Tim Cook has scheduled a "Town Hall meeting" for employees today. This meeting follows up to yesterday's Q1 2013 quarterly financial results, and apparently mirrors an event that Cook held after the Q1 2012 financials. Quoting 9 to 5, the invite reads: Team, We've just reported another record setting quarter, thanks to everyone's incredible hard work and focus. We sold over 75 million iOS devices in the holiday quarter alone, which is a testament to the strength of Apple's innovation. Please join me for an employee communications meeting tomorrow at 10 a.m. Pacific time in the auditorium of De Anza 3. We've created a space on AppleWeb where you can submit your questions in advance, and we'll do our best to answer as many of them as we can during the meeting. The meeting will be broadcast live throughout Cupertino and at many other Apple locations. Please check AppleWeb for details. Tim

    Erica Sadun
    01.24.2013
  • Xbox division earnings down 1% compared to last year

    In today's most incremental news, Microsoft reported that its Entertainment and Devices Division, responsible for the Xbox 360 and Windows Phone, earned $1.95 billion in revenue in the first quarter of its fiscal 2013, down 1% from the same period last year.1.7 million Xbox 360 consoles were sold in the quarter ending September 30. This is a 29 percent drop from last year. Microsoft expects division revenue (from Xbox, Windows Phone, Skype, and everything else the Entertainment and Devices Division manages) to continue dropping in the next quarter, but rise in "low single-digits" for the year.

    JC Fletcher
    10.18.2012
  • Microsoft announces Q1 earnings with $5.31 billion in profit, braces for Windows 8 surge

    It's Microsoft's turn at quiet-before-the-storm quarterly results, and that's evident in the fiscal first quarter earnings it just dropped on our laps. The Redmond team is reporting $16.01 billion in revenue, but a more modest than usual $5.31 billion in profit over the summer -- while it's healthier than the Q4 loss stemming from the aQuantive write-off, it's not as impressive as the $7.2 billion profit from a year ago. While a tough PC market is partly to blame, it's equally hard to say that Microsoft couldn't have done better. There's a real chance that some of its customers have been holding back on purchases in anticipation of the Windows 8 and Windows Phone 8 launches; it's already setting aside $1.36 billion in revenue for Windows and Office upgrades. The company is unquestionably preparing itself for a giant spike in demand once at least Windows 8 rolls around later this month, so we'd say that the real litmus test will be the results we get after the holidays.

    Jon Fingas
    10.18.2012
  • Lenovo's Q1 shows 'record high' market share, profits up 30 percent to $141 million

    After delivering an overachieving laptop, Lenovo has delivered financial results that also exceeded expectations, producing $8 billion in revenue and $141 million net profit. Those figures are up 35 and 30 percent respectively over last year, which the company has chalked up to a higher than ever market share of 15 percent. That growth came in part from a 59 percent sales bump in emerging markets like India and Brazil, on top of a 9 percent spurt in its home market -- lifting the company 24 percent in world-wide PC shipments for the quarter. Lenovo has also become the second largest player in China's smartphone market, after Samsung, now up to a 13 percent market share. CEO Yang Yuanqing also proclaimed that, unlike other Redmond partners, he wasn't stressed about Microsoft's Surface tablet -- and that his company had "much better hardware" than the software giant.

    Steve Dent
    08.16.2012
  • Akamai: peak internet speeds jumped 25 percent year-to-year in Q1, Germany tops the mobile world

    If you thought world internet access speeds were facing a large-scale slowdown, you can stop fretting for now. Data from Akamai suggests that average speeds were just 2.6Mbps, but that was a healthy 14 percent improvement over the fall and a noticeable 25 percent better than early 2011. Average peak internet connection speeds surged just as much in the first quarter of this year: at 13.5Mbps, the average maximum was a 10 percent season-to-season boost and that same 25 percent versus a year before. The leaders remain Asian territories with that ideal mix of dense populations and high technology, culminating in Hong Kong's blazing 49.3Mbps typical downlink. Akamai attributes much of the growth in peak speeds to an explosion in "high broadband" connections, where 10Mbps is the minimum -- countries like Denmark, Finland, South Korea, Switzerland and the US roughly doubled their adoption of extra-fast access in the past year. Before cheering too loudly, we'd point out that mobile speeds are still trudging along despite HSPA+ and LTE making their presences felt. The most consistent speed came from an unnamed German carrier, which neared 6Mbps; the best regular American rate was 2.5Mbps, which underscores how far even some of the most developed countries have to go. There's also a clear gap in regular landline broadband quality if we go by the US' own National Broadband Plan standards. Just 60 percent of US broadband is over the 4Mbps mark, putting the US at 14th in the global ranks. We're hoping that projects like Google Fiber can raise expectations for everyone, but you can hit the source shortly to get Akamai's full study.

    Jon Fingas
    08.09.2012
  • Square Enix sees losses in fiscal Q1, but handheld and social games help

    Square Enix faced net losses of 2.077 billion yen ($27 million) in the fiscal quarter ending June 30. The Digital Entertainment division, responsible for home and mobile video games, reported that "sales of console games were weak" in the quarter, but sales of portable games, specifically the Japan-only Dragon Quest Monsters: Terry's Wonderland 3D, were more positive.Square's mobile and social games, including the browser game Sengoku Ixa and the mobile Final Fantasy Brigade, also performed well.Back in May, the company forecasted that the fiscal year would end with net income up 48.5 percent, a forecast that it's holding to even following this slow quarter.

    JC Fletcher
    08.07.2012