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Tesla's Model 3 leads it to another profitable quarter
Sometimes it's best to come out and say things won't be as good as they were last quarter. That's what Tesla CEO Elon Musk did on January 18th and today's fourth-quarter results are pretty much on par with that post from two weeks ago.
LG's G6 wasn't the hit phone the company craves
After almost breaking even last quarter, LG's mobile division is back to its subpar self. In the last three months, the manufacturer's handsets lost it $117.27 million. The company is pinning the blame on "weaker than expected" premium smartphone sales -- all but admitting that the LG G6 is not shifting units.
Lyft is growing faster than Uber, but there's a long way to go
Despite the plethora of external scandals and internal struggles, Uber is still a popular service, and recently reached a milestone of five billion rides taken with its service. Despite hitting the less auspicious mark of giving a million rides a day, Lyft is still growing -- and it's growing faster than its competitor.
Tesla posts its first profit in two years
Tesla is having a good month. Last week it announced that all the cars it produces will have the hardware needed for fully autonomous driving. O Friday it's holding an event in Los Angeles where it's expected to unveil a solar panel-filled roof for those cars. Plus it turns out that the the Model S saw a 59 percent sales bump year-over-year last quarter. To top it all off, the company just posted a profit of $21.9 million for the third quarter.
Twitter's 5 million new users aren't enough
First the good news: Twitter added an additional 5 million monthly active users during the first quarter of 2016. The company can now boast 310 million subscribers. That's both a year-over-year and quarterly increase. The bad news is that the company is still not profitable, as it booked a $79 million loss for the quarter.
AT&T's focus on connected cars is beginning to pay off
It's no secret that the US wireless market is saturated, and that most people who want a mobile device have already purchased one by now. Naturally, this means that the national players in the industry are looking for other points of revenue to aid future growth. AT&T is proving that it's one of the most successful in this venture by announcing today that it's activated a heap of connected devices last quarter -- to the tune of 1.3 million. That's a healthy number, especially since the company accumulated only a tenth of that in the previous quarter. This genre refers to a wide range of gadgets that come with an AT&T SIM card inside, but the most interesting part of this announcement is that over 500,000 of those activated devices come from connected cars.
AMD rides semi-custom business back to profitability, cites net income of $48 million in Q3 earnings
We had our doubts when AMD promised to bounce back from its second quarter slump, but the company has held its word, reporting a net income $48 million in its Q3 financial reports. Why the jump? AMD cites growth in its Graphics and Visual Solutions (GVS) division, which is responsible for semi-custom products like the chips bound for the upcoming PlayStation 4, Xbox One and the floundering Wii U. "We achieved 26 percent sequential revenue growth driven by our semi-custom business and remain committed to generating approximately 50 percent of revenue from high-growth markets over the next two years," AMD President and CEO Rory Read stated in the earnings announcement. Not every portion of AMD's business is flourishing, however -- both its Computing Solutions and GPU segments saw a drop in revenue over the past year, and the company admits that it's shipping fewer notebook chipsets these days. Even so, the numbers bode well for the company, which posted a total revenue of $1.46 billion for the quarter, alongside an optimistic outlook. After all, the company's Mantle graphics cards are just around the corner.
Yahoo's Q3 sees net revenue drop slightly, 'meaningful increases' in traffic
The Q3 earnings report for Yahoo is in, and even with earnings down 91 percent year over year (due to an infusion of cash last year when it sold part of its share in Alibaba Group) it held few surprises. Revenue dropped 1 percent to $1.08 billion, while ad sales also dropped slightly, down 7 percent for Q3 last year. Other than that new logo, the company also pointed out its run of acquisitions has continued, with Bignoggins, Qwiki, Xobni, Admovate, Ztelic, Lexity, Rockmelt and IQ Engines joining the fold. It's reporting 800 million monthly users, "up 20 percent over the last 15 months," aka since Marissa Mayer took the reins. We'll keep waiting to see if Yahoo's changes affect its bottom line significantly, but right now its remaining 24 percent stake in the Chinese search engine is the highlight -- Alibaba's section in the filing shows $707 million in profit for Q2 and an expected IPO could increase its value by billions.
HTC: the One is selling better than last year's hero products, but next quarter may see a loss
HTC's unaudited results for Q2 2013 showed a sign of hope, but in today's call for the Q3 guidance, the Taiwanese company expects next quarter's revenue to be in the range of $1.67 billion to $2 billion, with an operating profit of anything from $0 down to... well, a margin of -minus 8 percent, which would equate to a horrible loss. This is also a notable drop from last year's $2.4 billion revenue and $168 million operating profit. CEO Peter Chou blames this decline on the higher cost structure (bill of materials and operating costs) and the clearance of aged inventory in the channel, but he hopes that Q3 will be the bottom in terms of HTC's profitability. CFO Chialin Chang added that his team has a few actions in place to help restore the company to profitability very soon.
AMD Q2 2013 earnings: net loss of $74 million, expects 'a return to profitability' next quarter
First, the rough news: AMD saw just $1.16 billion in revenue for its Q2 2013, and actually took a net loss of $74 million (and an operating loss of $29 million). That's an 18 percent decrease in revenue year-over-year, but CEO Rory Read says that things are looking up. "Our focus on restructuring and transforming AMD resulted in improved financial results," noting that AMD "expects significant revenue growth and a return to profitability in the third quarter." That's a pretty bold statement given the continued decline in the PC market, but the outfit's graphical department seems to be doing fairly well. In fact, AMD's Graphics reportable segment has been renamed Graphics and Visual Solutions, and the outfit gleefully points out that AMD silicon is baked inside of the Wii U, Sony's upcoming PlayStation 4 and Microsoft's Xbox One. What isn't precisely clear, however, is the expected market change that'll finally turn the tide for AMD -- the world's watching for Q3, folks.
Microsoft Q4 2013 earnings: $4.97 billion net income, $900 million charge related to Surface RT inventory adjustment
Microsoft just reported its Q4 2013 earnings, and the Redmond behemoth has found itself with $19.90 billion in revenue, $6.07 billion in operating income, and $4.97 billion in net income. Quite a lot has happened since the outfit showed $6.06 billion in profit last quarter -- its CFO stepped down, the Xbox One was introduced, DRM policies were instituted (and then reversed), Don Mattrick departed for Zynga, and Steve Ballmer himself put in place a new organizational structure. Of note, Microsoft is taking a $900 million charge "related to Surface RT inventory adjustments," and we're also told that the figures "reflect the recognition of $782 million of previously deferred revenue related to the Office Upgrade Offer." Amy Hood, chief financial officer at Microsoft, made no bones about the fact that these results -- while huge -- do indeed show the impact of a declining PC market. It should make sense, then, to see Microsoft focusing ever more intently on enterprise and cloud offerings, particularly given the weak demand for its own Surface tablets. All told, the company raked in $26.76 billion in operating income for its fiscal year 2013. Specifically, its Business division saw revenue grow 14 percent for Q4 and 3 percent for the full year, while Server & Tools grew 9 percent in Q4 and the full year. Windows revenue was up 6 percent this quarter and 5 percent on the year, while the Entertainment & Devices group saw an 8 percent uptick in Q4 while recognizing a 6 percent rise for all of 2013. Of course, Wall Street isn't apt to look fondly on Microsoft's forward looking update, which revises operating expense guidance downward to $31.3 billion to $31.9 billion for the full fiscal year ending June 30, 2014.
Tesla's Q4 2012 earnings: $90 million net loss, but forecasts a profit for Q1 2013
If you're one Elon Musk, you're probably ready for just about anything to take the place of the only story dominating the Tesla tagline for the past few weeks. Of course, a $90 million net loss isn't the ideal story to overtake the Model S kerfuffle, but hey -- at least the company's aiming to pull in a profit next quarter. In a bid to keep investors focused on the positive, the automaker's Q4 2012 shareholder letter notes that Tesla is officially predicting its first quarterly profit in Q1 2013, sliding up from "late 2013." For the quarter that just wrapped, the firm saw revenues of $306 million (a 500 percent increase sequentially from the $50.1 million seen in Q3 2012), and it ended the year with $221 million in total cash after having made the first quarterly principal payment of $12.7 million to repay the loan to the U.S. Department of Energy. Tesla also plans to deliver some 20,000 Model S vehicles in 2013, with around 4,500 of those happening in Q1. Europeans and Asians can expect their deliveries in "summer" / "late this year" (respectively), with the first Model X deliveries to occur in early 2014. Musk also told investors that it plans to "spend significantly less on capital expenditures" in 2013 compared to 2012, helping to (hopefully) generate "slightly positive net income on a non-GAAP basis" in Q1 2013.
Qualcomm Q4 2012 earnings: $4.87 billion in revenue, $1.27 billion net profit
With Qualcomm's powerful, versatile and efficient Snapdragon S4 taking the mobile world by storm, it should come as no surprise that the company's accountants are smiling more than ever. Today, the firm posted earnings for the fourth quarter of 2012, which includes a net income of $1.27 billion with revenues of $4.87 billion. In terms of profit, these figures represent a 20 percent year-over-year increase and a five percent bump when compared to the previous quarter. A peek inside Qualcomm's books reveal that the company is now sitting on $43 billion in assets and $9.4 billion in liabilities -- if only our own pocketbooks were overflowing in similar fashion. Feel free to count some beans for yourself at the source link below.
Apple Q4 2012 earnings: $36 billion in revenue, $8.2 billion net profit
Just a day after introducing the iPad mini, a revised iMac, a 4th-generation iPad and a retooled Mac mini, the company is outing its Q4 2012 earnings -- and it looks as if it has narrowly fell short of Wall Street estimates. Revenue was pegged at $36 billion (compared to estimates of $35.08 billion), with net profit at $8.2 billion. For the sake of comparison, the outfit's fourth quarter of 2011 saw $28.27 billion in revenue alongside $6.62 billion net profit -- at the time, those comically large numbers were actually not up to Wall Street's comical expectations. If you're looking for a quarter-over-quarter comparison, the company's Q3 2012 report showed $35 billion in total revenue, with $8.8 billion in net profits. The company is guiding for $52 billion in revenues for Q1 2013, while announcing that it sold 26.9 million iPhones (up from 17.01 million a year ago), 14 million iPads (up from 11.12 million) and 5 million Macs (up from 4.89 million) in this quarter. As for the waning iPod business? Predictably, it sold just 5.3 million of those, representing a 19 percent drop from the year-ago quarter. Naturally, the company is expecting its next earnings report to be the one that blows everyone away, with holiday sales -- combined with a slew of new kit -- to propel things leading into 2013. Apple also announced that shareholders that hold stock as of November 12th will pick up a $2.65 / share dividend. As for other specifics, we're told that gross margin was 40.0 percent compared to 40.3 percent in the year-ago quarter, while international sales accounted for 60 percent of the quarter's revenue. Peter Oppenheimer, Apple's CFO, proudly boasted: "We're pleased to have generated over $41 billion in net income and over $50 billion in operating cash flow in fiscal 2012. Looking ahead to the first fiscal quarter of 2013, we expect revenue of about $52 billion and diluted earnings per share of about $11.75." As for the outfit's current stash of on-hand cash? $121.3 billion. Yeah. The financial results call will get going at 5PM ET, and we'll be liveblogging it right here!
Sprint sells 1.5 million iPhones, 1 million other smartphones, but makes a net loss of $767 million
Sprint's latest financials show that while the network is slowly stemming the flow of cash from its veins, it's not quite there in terms of turning a profit. The country's third biggest carrier suffered a $767 million net loss and an operating loss of $231 million -- much less than the $629 million operating loss it had in Q2, but on-par with the $208 million lost in the same period last year. The business did manage to bring in total revenues of $8.8 billion, but had to take a hit on a $397 million write-down on costs related to Network Vision and the continued pain of the Nextel shutdown. On the customer size, it added a further 900,000 users, sold 1.5 million iPhones and a further 1 million "LTE smartphones" in the quarter. Those with long memories will know that the company sold the same number of Apple handsets in the last two quarters, with around 40 percent going to new customers then as now. However, churn, the deadly enemy of all carriers, increased to 1.88 percent, up from 1.69 percent in Q2. The network did manage to coax 59 percent of former Nextel customers to stay tied up with Big Yellow, which may account for it selling nearly 1.2 million Direct Connect devices. While it's hardly a rosy estimation of Sprint's financial health, this report doesn't take into account Softbank's $20.1 billion buy-out or the regained controlling stake in Clearwire -- so we're expecting the next financial announcement to contain some more exciting news. Update: During the conference call, Dan Hesse was asked about adopting a shared data plan to rival Verizon and AT&T, but unlike the last call, he was dismissive of the idea.
AMD reports $1.27 billion in revenue for Q3 2012
While AMD wrestled to get back on the good foot last quarter, the Sunnyvale chip maker continued to struggle for the third three month financial period of 2012. While reporting $1.27 billion in revenue, the company still saw a ten percent sequential decrease and a 25 percent decrease year-over-year. The hurt not ending there, AMD's graphics division saw a revenue decrease of seven percent sequentially and 15 percent year-over-year. "The PC industry is going through a period of very significant change that is impacting both the ecosystem and AMD," said Rory Read, AMD president and CEO. Such words mirror that of longtime rival Intel, which also continues to struggle with a very unfriendly PC market. In an effort to rebound, AMD announced a restructuring plan to reduce operating expenses that will hopefully give the company more leeway to develop and produce new products and strategies.
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.
Verizon activated 3.1 million iPhones in Q3 2012
Verizon announced its quarterly earnings today and confirmed that it sold 3.1 million iPhones in Q3 2012. This is up from the 2.7 million units that the carrier sold in the previous quarter and up from the 2 million the carrier sold in the same quarter last year. During its earnings conference call, Verizon CFO Fran Shammo also said that 21 percent of the iPhones sold in the quarter were compatible the carrier's 4G LTE network. We can interpret this to mean that Verizon sold 651,000 iPhone 5 handsets in the week between when the iPhone went on sale and the quarter closed. Despite increasing iPhone sales, Verizon still sold more Android handsets in the quarter. The carrier sold 6.8 million smartphones in Q3 2012, of which 3.4 million were of the Android persuasion.
Verizon reports Q3 wireless service revenues up 7.5 percent, LTE now available to 250 million people
The folks at Verizon are revelling in their third consecutive quarter of double-digit growth, having reported a 14.3 percent overall increase in earnings per share year-over-year. Wireless service revenues -- not least from us smartphone users -- contributed heavily to that income, growing 7.5 percent compared to the same quarter in 2011 off the back of a "record high" profit margin. The operator attributes these gains to its "4G LTE network advantage," with its LTE service now available to 250 million customers and potential customers across the US, as well as to its "well-received Share Everything Plans and unmatched product portfolio." It added 1.5 million postpaid connections, bringing its total wireless membership to just shy of 96 million souls.
HTC announces Q3 2012 financials, net profit down again to $137 million
HTC has released its third quarter financials, with the same trend continuing from the last quarter: lower net revenue. The company said it gained NT$70.2 billion total ($2.4 billion), with pre-tax net income at NT$4 billion ($137 million), a nearly 50 percent drop from the $250 million it earned last quarter. All that is a far cry from its salad days last year, and the company will have to hope that its new Windows Phone 8X launch along with a new flagship One X+ will reverse its fortunes.
