Costs hinder Amazon profit July 26, 2011 ONLINE retail outlet Amazon reported a surge in quarterly revenue yesterday, on sales of its Kindle electronic reader and other electronics and forecast far better-than-expected revenue for the current quarter. The firm’s shares shot up six per cent in after-hours US trading. The firm benefited from growth in e-commerce, though margins continued to be pressured [...]
ARM warns of a light Christmas July 26, 2011 ARM Holdings, the Cambridge-based maker of chips that power the Apple iPhone and other smartphones, has reported a 25 per cent profit rise this quarter, but warned it is not counting on a Christmas sales boom. The firm’s technology, used by firms such as Samsung, Qualcomm and Texas Instruments, helped lift pre-tax profit to £54.2m, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 25, 2011 FINANCIAL TIMES HACKING FEARS SPARK TRINITY REVIEW Trinity Mirror, the publisher of the Daily Mirror, has launched a review of its editorial controls and procedures amid investor anxiety that phone-hacking claims could spread beyond the defunct News of the World. Trinity saw its shares fall 9.8 per cent yesterday over concern among investors that the [...]
RIM plunges after it axes 2,000 staff July 25, 2011 SMARTPHONE maker Research In Motion (RIM) plunged more that 4.4 per cent yesterday after it announced it would axe a tenth of its global workforce. The firm, best known for its BlackBerry range, has struggled in the face of soaring demand for Apple’s iPhone and handsets running Google’s Android, especially those made by Samsung. Its [...]
Apple loss bites into Wolfson forecasts July 25, 2011 EDINBURGH-BASED chipmaker Wolfson Microelectronics slashed its sales forecast again yesterday in the face of a tough market for electronics goods that lack an Apple logo. The downgrade, its second in a month, sent shares in the maker of audio processing chips down 10.7 per cent to a 15-month closing low. The company reported second-quarter revenue [...]
Blackberry maker Research in Motion to cut 2,000 jobs July 25, 2011 Blackberry maker Research in Motion is to cut 2,000 jobs from its workforce worldwide and is replacing its chief operating officer as it fights off competition from rivals Google and Apple. The job cuts are equivalent to 11 per cent of the Canadian firm’s workforce and part of a wider cost cutting programme designed to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 24, 2011 FINANCIAL TIMES CHINA EYES BARTER PLAN TO BYPASS US SANCTIONS ON IRAN PAYMENTS Tehran and Beijing are in talks about using a barter system to exchange Iranian oil for Chinese goods and services, as US financial sanctions have blocked China from paying at least $20bn for oil exports. The US sanctions against Iran, which make [...]
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 [...]