Facebook Inc. released its Q1 financial results reporting a 50 percent revenue increase, soaring past Wall Street predictions thanks to its vastly popular mobile app and push into live video streaming, which has encouraged more advertisers and pushed existing advertisers to spend more. On Wednesday night (April 27) Facebook’s shares increased 9.5 percent in after-hours trading to $118.39, which set the company on track to open at a record new high the following day at almost triple its initial public…
American multinational conglomerate Alphabet Inc., created in 2015 as the parent company of Google, recently released its Q1 financial results which have been hotly anticipated. It appears the company was able to generate high amounts of revenue despite losing a large amount of money due to riskier ventures under the Alphabet umbrella. According to the results, Alphabet earned $20.3 billion in revenue which is a 17 percent increase Year-on-Year (YoY). In addition, the company earned a net income of $4.2…
Sprint Corporation (NYSE: S) entered into a transaction with several bankruptcy remote entities (collectively “Network LeaseCo”) for the sale and leaseback of certain existing network assets, which is expected to close next week and provide the company with $2.2 billion of funding. When closed, the transaction will immediately improve the company’s liquidity position at an attractive cost of capital in the mid-single digits. Bankruptcy-remote entities are special purpose vehicles that are limited to the acquisition and financing of specific assets…
Nokia has provided recast segment results for 2015 reflecting the company's new financial reporting and organizational structure, following the acquisition of Alcatel-Lucent. Nokia's organizational structure is intended to enable the company to create an innovation leader in next-generation technology and services. With state-of-the-art software, hardware and services for any type of network, Nokia is at the forefront of creating and licensing the technologies that are increasingly at the heart of our connected lives. To support Nokia's strategic objectives and reflect…
Saudi Telecom Company announced its preliminary financial results for the period ending at 31 March, 2016. Domestically, the 1st quarter witnessed revenue growth of 2.9% from domestic operations compared to same period last year. During the 1st quarter, FTTH customer base increased 39.5% compared to the same period last year, and 10.4% compared to the immediate previous quarter. In addition, fixed broadband customer base increased 17.5% compared to the same period last year, and 2.3% compared to the previous quarter.…
Following the excellent performance during 2015, Zain Saudi Arabia (Zain KSA) announced significant improvements in its financial results for the first quarter of 2016 ending March 31, 2016. Revenues grew by 7% in Q1, 2016 reaching USD 471 million compared with USD 442 million in Q1, 2015, also representing a 6% increase in revenues compared with USD 446 million for the fourth quarter of 2015. The company recorded a significant 28% increase in EBITDA to reach USD 119 million in…

Mitel buys Polycom for nearly $2 billion

Written on Monday, 18 April 2016 13:18
Canadian telecommunications and cloud computing host Mitel is buying US videoconferencing giant Polycom for nearly US$2 billion in cash and stock, the companies announced Friday. Polycom stockholders will receive US$3.12 in cash and 1.31 Mitel shares for each Polycom share, according to a statement. The merged company will operate under the Mitel name and be headquartered in Ottawa, but will also maintain the well-established Polycom brand. The deal, which still requires regulatory approval, is expected to close in the fall.…
Will Develop and Operate Large-Scale, Built-to-Suit, High-Performance Data Centers Standard Chartered Bank Principal Finance Real Estate (SCB) a unit of Standard Chartered PLC (LONDON: STAN), and Chayora Holdings Limited have reached agreement for SCB PFRE to become the lead institutional investor in Chayora, securing a strategic minority stake and providing equity funding for key Chayora’s data center development projects. The agreement involves a direct equity stake of up to 19.5% in Chayora Holdings Limited for the anchor data centers located…

NTT to Offer $3.5bn for Dell's IT Services Operations

Written on Thursday, 07 April 2016 05:55
Nippon Telegraph & Telephone is expected to offer more than 400 billion yen ($3.52 billion) to buy Dell's IT services business in a move aimed at bolstering the Japanese company's presence abroad, according to Japan’s Nikkei. Dell paid 3.9 billion for the Company but is raising funds for its EMC acquisition so the sale is a plus for them. NTT seeks to acquire the business, which consists mainly of Perot Systems and generates around $3 billion in annual revenue, through…

Cisco to invest $100m in India

Written on Monday, 28 March 2016 05:51
Cisco has announced plans to invest $100m in India, including $40m to fund early-stage and growth-stage companies and train 250,000 students in India by 2020. Cisco says it will collaborate closely with state governments in India on strategic initiatives including the addition of six new innovation labs, three centers of expertise, funded university collaborations and skills investments. The new activities form part of its global 'Country Digitization Acceleration' "whereby select countries across the world receive major strategic investment to accelerate…
Etisalat announced its consolidated financial statements for the 12 months ending December 31st 2015. Etisalat Group aggregate subscribers until 31 December 2015 reached 167 million. In the UAE the active subscriber base grew to 11.6 million subscribers in the fourth quarter of 2015 representing a year on year growth of 6%.

Ooredoo Myanmar scores $300m loans for mobile network rollout

Written on Tuesday, 16 February 2016 12:47
The Asian Development Bank (ADB) and the International Finance Corporation (IFC), the private sector investment arm of the World Bank Group, are to each provide $150m loan funding to Ooredoo Group's fully owned subsidiary Ooredoo Myanmar to expand its mobile network in Myanmar. Since Ooredoo's entrance into Myanmar it has provided 3G mobile coverage to more than 80 percent of the population. Ooredoo says the financing will support its strategy for Myanmar, enabling it to accelerate the reach for the…
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