CEO claims T-Mobile now third-largest US carrier
T-Mobile managed to post great results in its fourth quarter financial report, with the carrier's $101 million profit equating to 12 cents per share, reversing the 12 cents per share loss in the previous quarter. Revenues are also up 19.4-percent year-on-year, reaching $8.15 billion, with the company overall beating analyst expectations of a 5 cent EPS and revenues of $7.89 billion.
More than 100 banks reportedly affected by hackers since 2013
Hackers have stolen more than $300 million from financial institutions around the world, according to a report from Kaspersky Lab provided to the New York Times. More than 100 banks in over 30 countries have allegedly been the victims of a malware-based attack, which began in 2013, though it appears the criminals behind it employed more sophisticated techniques than other malware intrusions, such as that of Target.
Local eateries leverage mobile app, mobile payment to grow business
Restaurant app maker ChowNow, which supplies restaurants with an integrated system to tie customized mobile apps and social media to make take-out or delivery ordering easier, has added Apple Pay capability to the apps of its nearly 700 restaurant clients. The effort to add Apple Pay has been ongoing for nearly two months, with a recent flurry of activity to bring the convenient e-payments system to most of its clients.
Net income of $4.76B up year-on-year, fails to meet Wall Street expectations
Google managed to bring in gross consolidated revenues of $18.1 billion for the last quarter, a year-on-year increase of 15 percent and up from the previous quarter's $16.52 billion, according to its latest financial results. Increased traffic acquisition costs (TAC) of $3.62 billion bringing the ex-TAC revenues down to $14 billion. Net income also increased to $4.76 billion from $3.38 billion the same period last year, but the search company failed to meet analyst expectations.
Over half a billion Facebook users access social network only through mobile devices
Facebook's latest quarterly earnings reveal the social network is in good shape and continuing to beat projections, with a lot of it down to the continued increase of mobile devices to access the service. The social network's total revenues of $3.85 billion with earnings per share of $0.54, up from the previous quarter's $3.2 billion revenue and $0.40 earnings.
Alibaba shares valued at $40B to be spun into own company
Yahoo's quarterly financial results reveal it has marginally missed market estimates, but it still managed to improve on the last quarter, bringing in $1.18 billion in revenue after traffic acquisition costs (TAC), with a $0.30 non-GAAP earnings per share. The company also revealed it's intentions to spin out the last of its Alibaba stake, a move designed to prevent it from paying out a large amount of tax.
Cites high customer satisfaction, enterprise opportunities among reasons
Apple's iPad tablet is continuing to see growing declines in sales, as noted in the most recent quarterly results. As expected, the iPad dropped 18 percent year-over-year in sales, though new models and the holiday season provided a substantial boost from the previous quarter. Although Apple only sold 21.4 million iPads this holiday season compared to 26 million last year, sales were up strongly from the previous quarter, leaping from September's 12.3 million iPads.
Surface accounts for $1.1B in revenues thanks to Surface Pro 3
Microsoft's last quarter saw the company pull in $26.47 billion in revenues, beating the previous quarter and the same quarter last year's figures by $3.27 billion and $1.95 billion respectively. The gross margin is up 1 percent year-on-year to $16.33 billion, though operating income is down 2 percent to $7.78 billion, with the diluted earnings per share at $0.71, down nine percent.
Forecast for Q1 2015 places Netflix subscribers at over 61M
Netflix has grown its total audience by 4.33 million subscribers globally, the streaming service revealed in its financial results. The faster increase in viewers compared to the last quarter is reflected in additional subscribers for both US and international markets, 1.9 million and 2.43 million respectively, with the total Netflix audience hitting 57.4 million members.
Loss driven by pension, benefits adjustments; revenue climbs
Verizon has released its fourth quarter and annual financial report. Total operating revenues in the fourth quarter were $33.2 billion, a 6.8 percent increase compared with the fourth quarter of 2013. Full-year 2014 operating revenues were $127.1 billion, up 5.4 percent (or $6.5 billion) compared with full-year 2013. Howeveer, even given the revenue growth, the company posted a $2.1 billion loss for the quarter, cutting its annual profit to $12 billion.
Company increasing research budget, pushing Internet of Things
Chip manufacturer Intel posted quarterly and annual financial results earlier today. For the fourth-quarter, Intel posted revenue of $14.7 billion, operating income of $4.5 billion, net income of $3.7 billion and earnings per share of $0.74. On the year, the company reported full-year revenue of $55.9 billion, operating income of $15.3 billion, and a net income of $11.7 billion. The company generated approximately $20.4 billion in cash from operations, paid dividends of $4.4 billion, and used $10.8 billion to repurchase 332 million shares of stock.
East coast-based chain adds personal, business debit and credit cards to Apple technology
TD Bank, the US-based subsidiary of Canada's similarly-named financial giant, will "soft launch" support for Apple Pay in the US starting today, in accordance with earlier reports. Customers can now add any TD Bank Visa-branded debit or credit cards to Passbook, and use them to make purchases at supporting merchants with an iPhone 6 or iPhone 6 Plus. While customers will have to call their branch to verify some details, both consumer and business cards are now supported.
CFO Mark Garrett says company as 'completed' transition to subscription business model
As part of its fourth quarter and 2014 financial report, Adobe announced its agreement to acquire stock content marketplace Fotolia, and a new, often wished-for, collaboration feature in its Creative Cloud suite. Saying the firm had successfully transitioned to its subscription-based business model, CFO Mark Garrett said the company now expects revenue to grow sequentially every quarter of the year, rather than only when upgrades are announced.
Apple approaching goal of 500 banks and credit unions supporting system by year's end
Another two financial institutions have added support for Apple's mobile-payment iPhone technology, Apple Pay. Fremont Bank, based out of Fremont, California, and the National Institutes of Health Federal Credit Union are now supporting the Touch ID-secured payment system, with the former supporting Apple Pay for both personal and small-business debit cards, while the NIH FCU is currently only supporting personal debit cards, though support for personal and small-business credit cards is coming soon.
Supporting merchant list also expanding as holidays near
Apple Pay, the iPhone maker's new system for mobile payments secured by Touch ID technology, has gained more acceptance as banks and credit unions continue to add support for it. Specifically, two new credit unions -- L&N Federal Credit Union and UW Credit Union -- are now allowing their cards to be used with Apple Pay, and M&T Bank has authorized its small business debit cards to be compatible with the system. A host of other institutions have already announced they will be supporting Apple Pay soon.
Three-year plan involves increasing revenues in Sony PlayStation, device arms
Sony is reducing the number of different products it will be shipping in the future, following poor quarterly financial results. The $1.2 billion loss in November has prompted the company to make a similar change as a recent Samsung announcement, but rather than just cutting down its smartphone range, Sony will also be shrinking its line-up of televisions.
Reduced revenue causes $192M operating loss for Sprint
Sprint's fortunes have suffered in the last quarter, the carrier's latest financial results advise. A loss in postpaid subscribers and reduced revenue in the period has led the company to an operating loss of $192 million for the quarter, with the carrier also announcing it is getting rid of 2,000 employees, as part of an effort to make $1.5 billion in annual cost reductions.
Sales of Samsung smartphones, televisions expected to pick up over holidays
Samsung has recorded an operating profit of 4.06 trillion won ($3.84 billion) in its latest quarterly financial results. Just as the manufacturer warned at the start of this month, the operating profit represents a decrease of 3.13 trillion won ($2.96 billion) from the previous quarter, with other parts of the financial report offering similar dismal and disappointing figures.
Posts $175 million net loss, average monthly active users increase by 13 million
Twitter posted its third quarter results for fiscal year 2014, posting $361.2 million in revenue. Revenue was up compared to the same quarter in 2013, with quarter-on-quarter results improving by approximately $49 million. The company beat out analyst projections of $351.35 million, but posted lower than the $0.01 earnings per share (EPS) expected with a loss of $0.29 EPS.
Surface revenue increases 122 percent, commercial revenue up 10 percent
Microsoft beat analyst expectations for the first quarter of 2015 today, posting $23.20 billion in revenue with a diluted earnings per share (EPS) of $0.54. Analysts expected the company to post EPS of $0.50 on $22.02 billion in revenue. Strong sales in consumer hardware and a 10 percent growth in the commercial sector were responsible for the boost in revenue.
Sale of Alababa Group shares generate $6.3 billion, mobile now material
Yahoo released its third quarter financial results for 2014, stating that it pulled in approximately $1.15 billion in revenue to beat estimates. Analysts estimated that Yahoo would produce $1.04 billion in revenue, with an earnings per share of $0.30. While the revenue is good news for the company, it's due in large part to the $6.3 billion net of tax the company generated from the sale of shares of the Alibaba Group.
Rewards and other perks will remain the same as if physical card had been used
Financial services and credit card issuer American Express has posted a new web page on its site, extolling the benefits of Apple Pay and instructing users on how to add their cards to the Passbook-based payment system. The mobile payment system is designed for the new iPhone 6 and iPhone 6 Plus (now expanded to include the latest iPads for online or in-app purchases only) and will be formally rolled out on Monday, alongside the release of iOS 8.1.
Revenue up 8 percent over the previous year, mobile division records $1B loss
The rebound of the PC market is benefiting Intel, according to its third quarter results for this fiscal year. In the quarterly report, Intel says that it hit $14.6 billion in revenue for the quarter, an increase of $1.1 billion year-over-year. For the first time in a quarter, Intel shipped over a 100 million microprocessors - a new record for the company. However, not all of the financial news is good, as the mobile and communications group realized a loss of more than $1 billion in the same period.
Estimated operating profit 60-percent lower than same period in 2013
Investors in Samsung are being warned profits for the quarter are far below its estimates, in its earnings guidance before its expected third-quarter financial results release. The manufacturer's consolidated operating profit for the period is estimated at 4.1 trillion won ($3.8 billion), down from the 7.19 trillion won in the previous quarter, and down significantly from the 10.2 trillion won reported in the same period last year.
Lower profit still an improvement for HTC compared to Q3 2013 loss
HTC has managed to continue its current financial form in its latest quarterly results, but not by much. In its most recent report, HTC earned revenues of NT$41.86 billion ($1.4 billion), down from the NT$65.06 billion it earned in the previous quarter, but the smartphone manufacturer managed to receive a net profit of NT$640 million ($21.0 million), again down from the NT$2.26 billion from last quarter.
Association's aim is to improve cryptographic and data keys, thwart physical and online attacks
Apple is now a member of a non-profit trade association made up of mostly financial institutions, cellular carriers and software and hardware developers devoted to improving security in applications, transactions, data and cryptography. The group, GlobalPlatform says its objective is to "create a standardized infrastructure that accelerates the deployment" of secure software and data, "protecting them from physical or software attacks." Most of Apple's carrier and financial partners in Apple Pay are also members.
Apple gets 0.15 percent cut of purchases, does not affect purchase price
Some of the details of Apple's new mobile payment system, Apple Pay, have been revealed in a report by Britain's The Financial Times. As briefly alluded to by CEO Tim Cook, Apple does get a small commission on sales made using Apple Pay, to the tune of 0.15 percent (15 cents on every $100 spent), though this does not affect the purchase price.
Assault on JPMorgan Chase may be only one of multiple intrusions in August
JP Morgan Chase & Co plus at least four other financial institutions have reportedly come under attack by hackers. According to a quartet of people familiar with the investigation, the possibility exists that gigabytes of customer data, including banking information, may have been stolen by the assailants with a "zero-day" attack, who may to be linked to Russian state-sponsored hackers.
HP continues to struggle in number of areas despite revenue improvement
HP's quarterly revenue in the last three months has gone up, according to its Q3 financial results announcement. Net revenue in the third quarter reached $27.6 billion, representing a 1-percent gain on the same period last year, and an improvement on the previous quarter's $27.3 billion, though elsewhere in the figures, it continues to struggle.
T-Mobile surpasses 1M customer additions for fifth successive quarter
T-Mobile is continuing to enjoy high customer growth in the United States, with the carrier receiving more than 1 million total branded net customer additions in the last quarter, according to its latest quarterly financial report. Taking into account unbranded net customer additions as well, T-Mobile now has just over 50 million subscribers using its network.
Financial results promising for Sprint, subscriber losses continue
Sprint has managed to return to profitability in its latest quarterly financial results, after earning a net income of $23 million for the period, something the carrier claims is the best performance in "almost seven years." Despite the financial success, the carrier is continuing from the last quarter's 595,000 customer reduction, with the further net loss of 220,000 customers.
HTC One M8 sales may have helped HTC revenues double for quarter
HTC's finances have turned around, thanks in part to the HTC One M8. The company's latest unaudited quarterly financial results claim to have made its first profit on a year, turning around last quarter's net loss of NT$1.88 billion ($62.8 million) to a small profit of NT$2.26 billion ($75.5 million), mostly due to a doubling of revenue compared to the last period.
Awarded annual $1 million salary, will also receive stock based on performance
As of Friday, Apple has officially installed Luca Maestri as its chief financial officer, according to filings with the Securities and Exchange Commission. Maestri, who has been active in the role since January, has been taking over outgoing CFO Peter Oppenheimer's duties on a transitional basis since January of this year. The transition period will continue until September, but the SEC filing is an official notice of a change in officers of the company.
Strong Microsoft results lower than last quarter, up year-on-year
Microsoft received revenues of $20.40 billion for the quarter ended March 31st, the company has revealed in its first quarterly results partially under the stewardship of new CEO Satya Nadella. Down from the previous quarter's $24.52 billion, revenues are still up from the $18.83 billion it achieved in the same period last year, and is extremely close to what financial analysts and investors expected to occur.
Company expects massive losses in second quarter
Amazon today announced financial results for its first quarter ended March 31. Net sales increased 23 percent to $19.74 billion in the first quarter, compared with $16.07 billion in first quarter of 2013. Net income increased to $108 million in the first quarter, or $0.23 per share, compared with $82 million, in the same time period in 2013.
First financial report after taking complete ownership of Verizon Wireless
Verizon is reporting revenues of $30.8 billion and an adjusted profit of $0.84 per-share in its first quarter financial results. While the quarter takes into account a full five weeks of ownership of Verizon Wireless, following the acquisition of Vodafone's holdings in the company, the results are slightly under the $0.87 per-share earnings analysts expected from marginally lower revenues of $30.7 billion.
New users will need to pay more, existing Netflix subscribers keep current rates
Netflix is planning to raise the price of its service to new members in the near future, among other changes, the company has revealed as part of its quarterly financial results. Following a limited increase in Ireland, the streaming video service is now looking to increase the subscription fee by one to two dollars, depending on the country.
Irish regulatory approval could be granted to Facebook within weeks
Facebook is working to provide financial services, such as allowing users to send money to each other, according to a report. The social network is said to be applying to regulators in Ireland to begin offering money storage and transmissions, something which could receive approval within weeks, and would directly place Facebook in competition with PayPal, Google Wallet, and other similar services.
Practice is perfectly legal, admits government, but abused
Apple's practice over the past decade of funnelling all of its foreign profits through its international sales office in Cork, Ireland has allowed it to skip out on taxes in some other countries on billions of dollars in profits, according to an audit done by the Australian Financial Review. In Australia, Apple has paid only $200 million on ten years' worth of profits, totally nearly AUS $9 billion, the report said.
Barnes & Noble announces plans to launch new Nook devices in early 2015
Barnes & Noble has released its third quarter financial results today, which highlights narrowed losses compared to previous reports. In addition, the company has announced its plan to launch a new Nook color e-reader in early fiscal 2015. As reported last June, Barnes & Noble suffered losses on its Nook tablet lines, and subsequently announced its move to co-brand future Nook tablets with third-party manufacturers. This move was to assume less risk in production, while still earning money from devices sold and allowing for room to focus on its digital bookstore.
Sprint claims 53.9M subscribers, 5.6M smartphone sales
Sprint's latest quarterly results show it has suffered a loss of $1.04 billion, an improvement on last year's $1.32 billion loss, under its second quarter of ownership by SoftBank. Revenue from the carrier enjoyed a year-on-year increase from $9 billion to $9.14 billion in the fourth quarter, also up from its third-quarter results, giving it a full-year revenue of $35.5 billion.
Fourth quarter results of 2013 show year-on-year decline in revenue
HTC will be moving towards offering more lower-specification devices in the future, the company has revealed. The move toward mid-range smartphones comes at the same time as the company announced its results for the fourth quarter of 2013, as well as an estimate for the first quarter of 2014 suggesting it will see another drop in revenues.
Profits across entire company, except for mobile phone unit
LG has seemingly improved its finances from the previous quarter, but managed to achieve a net loss, according to its latest financial results. Revenues of $14.03 billion gave it an operating profit for the quarter of $223.89 million, though this apparently dropped to a net loss of $60.2 million when currency movements were taken into account.
Nokia quarterly results omit sales figures for Lumia devices
Nokia has hinted at what its finances will be like in the future, in what is believed to be its last quarterly financial report before the company's mobile phone arm gets acquired by Microsoft. The company's Solutions and Networks, Here, and Advanced Technologies segments earned a profit of 408 million euro ($556 million) for the fourth quarter, an improvement when compared to the 344 million the sections earned in the third quarter.
Potential for money laundering, tricky regulation causes China Bitcoin setback
The Bitcoin virtual currency has received a setback on its path to widespread use, after China's central bank advised against its use by the country's investors and banks. The People's Bank of China (PBOC) warned financial institutions that they should not trade in Bitcoins due to the potential risks associated with the currency.
Share price change expected to net the company $1.8B
Twitter has updated the set price per share for its Initial Public Offering (IPO) to $26 each, potentially valuing the company at $18 billion. The offering of 70 million shares is up from the previous expected range of $17 to $20 per share, and in the process earns the company $1.82 billion, along with increasing the overall valuation of the company even higher.
Subscriber gains not enough to avoid $36M loss for third quarter
T-Mobile has managed to increase its customer numbers yet again, with its third-quarter results claiming another million users. Adding to the 1.1 million increase from the previous quarterly results, the carrier gained 643,000 branded postpaid subscribers, though this still didn't prevent the company from making a net loss of $36 million for the period. The total number of customers on T-Mobile is said to be more than 45 million across the entire company.
Sprint loses 313,000 customers, sells 1.4M iPhones in quarter
Sprint's first full-quarter earnings report after the completion of SoftBank's takeover and the acquisition of Clearwire gives it good news and bad news in equal measure, with the carrier's revenues rising to $7.3 billion compared to the $7.2 billion in the previous quarter. Operating losses at the company have shrunk to $398 million, an improvement on last quarter's $874 million loss, though it is still a greater loss than the $231 million in the same period last year.
Lumia sales improve year-on-year from 2.9M to 8.8M
Nokia has made an unexpected operating profit of 118 million euros ($162 million) for the third quarter, according to its latest financial results. The profit, stemming from net sales of 5.66 billion euros ($7.8 billion), is a marked turn-around from the $755 million lost for the same period last year, and helps to compensate for the $151 million operating loss it endured in the second quarter.
Verizon earns $30.3B revenue, 1.1M more wireless customers
Verizon has beat Wall Street expectations in its third quarter financial results, adding more than 1.1 million new customers to its wireless service in the period. Overall Verizon revenues of $30.3 billion marks a year-on-year increase of 4.4 percent, with the wireless business increasing its contribution to the total to $20.4 billion, up by 7.2 percent compared to last year.