Apple announced financial results for its fiscal 2017 second quarter ended April 1, 2017. The company posted quarterly revenue of $52.9 billion and quarterly earnings per diluted share of $2.10. These results compare to revenue of $50.6 billion and earnings per diluted share of $1.90 in the year-ago quarter. International sales accounted for 65 percent of the quarter’s revenue. “We are proud to report a strong March quarter, with revenue growth accelerating from the December quarter and continued robust demand…
Facebook is “closing the gap on TV advertising” according to an Ampere Analysis study, with the average Facebook user soon to be worth more than an average TV viewer. The study suggests that the average revenue generated per user by Facebook advertising has increased 6x in North America and 4x in Europe in the past five years. The findings from the study place Facebook’s advertising influence behind Google, which is closest to TV on the ARPU (average revenue per user)…

Sony Mobile achieves profitability goals this year

Written on Monday, 08 May 2017 08:37
Sony Mobile Communications has shown strong global financial performance by reporting a profit of 10.2 Billion Yen (US$ 91 Million) this year, as per financial results from the company. Continuing its growth trend, Sony Mobile expects to increase annual smartphone unit sales by 1.9 million year-on-year, mainly in the Middle East and Europe, to 16.5 million units. Sales revenue is expected to increase 8 per cent year-on-year to 820 Billion Yen, which will be a record operating income for Sony…
US technology leaders Apple have formally announced its intentions to create a fund of $1bn – which it will subsequently use to invest in US companies in order to boost job creation. Apple has further disclosed that it will invest the money in US companies that perform ‘advanced manufacturing’. Apple, which is headquartered in Cupertino, California, will formally disclose the recipients of the first investment in May. It’s the conglomerates latest move to indicate its efforts to boost job creation…
US tech giants Apple are the victims of its own incredible success, following a quarterly report which indicated its cash holdings, the vast majority of which is held overseas has surpassed the entire economic out-put of Chile. Apple’s stockpile of cash has reached a staggering $256.8 billion, and has sparked debate over what the technology leaders should do with such massive cash reserves. It has also refocused attention on the issue of the disincentives in the US tax system, which…
US chipmaker Qualcomm has been left reeling following the decision made by an arbitration panel to award Canada’s BlackBerry a sum of $814.9m in a settlement dispute relating to royalties for certain past sales. In 2016, both companies took the decision to arbitrate the dispute which centered on Qualcomm’s agreement to cap certain royalties applied to payments made to BlackBerry under a licensing deal. US listed shares of BlackBerry have risen to around 16% at $8.94 in heavy premarket trading,…
US telecoms giant AT&T said it will purchase Straight Path Communications, a spectrum license holder, for $1.6 billion. AT&T’s interest in the firm springs from the fact that it holds licenses of millimeter wave (mmWave) spectrum in the 28GHz and 39GHz bands, both of which have been approved by the Federal Communications Commission (FCC) to be used for 5G. Straight Path Communications Inc. specializes in maximizing the value of assets such as microwave bandwidth licenses and intellectual property. AT&T said…
Vodafone New Zealand is set to purchase 70 percent of the rural broadband and satellite section ‘Farmside’ of operator TeamTalk for NZ$10 million ($7 million). The acquisition is subject to approval by shareholders. Vodafone NZ has the option to purchase the remaining 30 percent for NZ$3 million within the next three years. TeamTalk, established in 1994, is New Zealand’s leading mobile radio company, with its main focus on digital trunking communication services. New Zealand telecom operator Spark announced plans to…
Indian telco Bharti Airtel has sold 10 percent of its tower unit Infratel $952 million to a consortium of investors in a bid to reduce its debt pile. The investors are led by private equity firm KKR and the Canada Pension Plan Investment Board. There were rumors circulating that the buyers wanted to acquire a “significant” stake in Infratel during October 2016 after Airtel’s board went forward with plans to sell off a proportion of the unit. New reports emerged…
British telecoms giant BT has been fined 42 million pounds ($53 million) by the regulator Ofcom for failing to deliver on contracts with telecoms providers and also failing to pay the required level of compensation for delays in Ethernet installations. The error is estimated to cost the company around 300 million pounds in compensation, according to reports. BT was supposed to pay compensation for delays outside its contracted Ethernet installation time of 30 working days, according to Ofcom’s regulations. There…
Reports indicate that Amazon is renewing talks to purchase UAE e-commerce site Souq.com for as much as $650 million after discussions stalled in January due to a disagreement over the price. Other firms that sought to purchase Souq.com included mall operator Majid Al Futtain. Souq.com accounts for about 78 percent of e-commerce in the Middle East and North Africa, which means all of its coverage, will soon be a part of Amazon’s portfolio. According to Reuters, Amazon had agreed to…

Home-sharing startup Airbnb now valued at $31 billion

Written on Tuesday, 14 March 2017 06:54
Home-sharing startup Airbnb founded in 2008 raised over a billion dollars in a fresh funding round that valued the company at $31 billion. According to a filing with the US Securities and Exchange Commission, Airbnb added $448 million to the $555 million in funding it took last year. Airbnb became profitable at during the second half of 2016 before accounting interest, tax, depreciation and amortization, a source explained to AFP. The new funding valued the company at $31 billion, and…
Page 6 of 16