Verizon tops forecasts July 22, 2011 Verizon Communications’s second-quarter profit topped Wall Street estimates as it added more subscribers than expected in its first full quarter selling the Apple iPhone. Verizon Wireless, owned by Verizon and Vodafone Group, added 1.3 million net subscribers in the quarter compared with the average expectation for about 930,000, according to seven analysts contacted by Reuters. [...]
Microsoft profits up 30pc but market frets over PCs July 21, 2011 MICROSOFT posted a 30 per cent rise in its fourth-quarter profit yesterday, smashing market forecasts, as sales of its Office software and Xbox games consoles continued to soar. Revenues hit a record high of $17.4bn (£10.8bn), up eight per cent from the same quarter in 2010, while net profit was $5.9bn, up from $4.52bn in [...]
Torrid trading drags Nokia to £324m loss July 21, 2011 NOKIA yesterday crashed to an expected second quarter loss, compounding a miserable year for the former smartphone market-leader. Even factoring in a one-off payment of €430m from Apple over a long-running patent dispute, Nokia slumped to a loss of €368m (£324m). It was dragged down by a 20 per cent slide in revenues in its [...]
AT&T profit beats forecasts July 21, 2011 AT&T’s second-quarter profit and revenue beat Wall Street estimates as it added more subscribers than expected, despite the loss of exclusive rights to sell Apple’s iPhone. The number two US mobile provider, which is seeking approval to buy T-Mobile USA for $39bn, added 331,000 net subscribers in the quarter, compared with the average analyst expectation [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 20, 2011 FINANCIAL TIMES BLACKSTONE STRIKES €700M DEAL TO BUY GERMANY’S JACK WOLFSKIN Blackstone has agreed to take over outdoor clothing company Jack Wolfskin in a €700m ($995m) deal that underlined the rapid transformation of the sector from local businesses to international brands. The US buy-out group will announce on Thursday that it will acquire the German [...]
Intel defies worries with revenue jump July 20, 2011 INTEL Corp’s quarterly revenue forecasts trumped Wall Street’s expectations, defying investors’ concerns about slowing personal computer sales and buoying its shares. Doubts about high US unemployment, the risk of a European financial crisis, climbing inventories and sluggish PC sales had clouded the second-half outlook for Intel and other chip makers like Advanced Micro Devices. But [...]
Samsung launches iPad 2 rival July 20, 2011 SAMSUNG yesterday launched a thinner, lighter version of its Galaxy tablet in a bid to claw back market share from a rampant Apple. The Galaxy Tab 10.1 inch is an upgraded version of the 7-inch tablet introduced in October. It has a bigger, brighter screen and weighs less than the iPad 2. However, it has [...]
Imagination and ARM ride on Apple’s coat tails July 20, 2011 ARM Holdings surged almost six per cent yesterday, riding on the coat tails of Apple’s bumper results on Tuesday night. The UK chip designer creates chips for Apple’s blockbuster iPad and iPhone products. It is expected to feature a powerful new chip in the upcoming iPhone 5. Imagination Technologies, which also designs chips for Cupertino-based [...]
Soaring tech stocks burnish banking rally to send FTSE up July 20, 2011 BANKING stocks led Britain’s top shares higher yesterday on strong corporate earnings and optimism over a deal in Washington to increase the US debt ceiling and avoid default. The UK benchmark index closed up 63.83 points, or 1.1 per cent, at 5,853.82, building on the previous session’s 0.7 per cent advance. Solid US earnings, including [...]
US shares pause on budget worries July 20, 2011 US stocks closed near unchanged yesterday, a day after Wall Street’s best rally since March, as the oncoming debt ceiling deadline overshadowed strong earnings from Apple. Apple hit another all-time high one day after the maker of the iPhone and iPad reported quarterly revenues that far exceeded expectations. The stock jumped 2.7 per cent to [...]