Topic / Finance

Intel Q4 profits up by 875 percent – yes, that’s correct

By on

Intel has announced that has made a net income of $2.3 billion during the fourth quarter of 2009, making that a 875 percent increase of its earnings last year, a dismal $234 million in Q4 2008, beating the Wall Street projections. The largest chipmaker also announced that it has posted revenues of $10.6 billion during the quarter, up by 28 percent from last year and up 13 percent from last […]

Skype founders/eBay legal spat ends, gets 14 percent stake in new Skype

By on

eBay has announced that it has settled a lawsuit with the co-founders of Skype around its sale of the VoIP service, allowing the deal signed by eBay with several investment firms to sell a majority stake in the company worth US$2 billion to go ahead as planned. The founders, Niklas Zennstrom and Janus Friis, will take on a 14 percent stake of the company, while eBay will still hold a […]

Texas Instruments profits fall 95 percent last year

By on

Texas Instruments has announced that it will axe 3,400 employees, as the company continues to battle falling profits as it’s fourth quarter profit saw a massive reduction, sinking by 95 percent, to $51 million, from $996 million in Q4 2007. “We are realigning our expenses with a global economy that continues to weaken,” TI’s chairman, president and chief executive Rich Templeton said in a statement. “By reducing expenses now, we […]

Google sales, earnings beat forecasts

By on

Google, the leader of web search advertising, has posted strong Q4 2008 earnings today, beating forecasts made by Wall Street analysts, even though of the weak economy in the United States and the global slowdown in other countries. Excluding any one-time items, Google has said that it earned $5.10 a share in Q4 2008, even though analysts expect it to make a profit of $4.95 a share. Indicating that the […]

Steve Ballmer’s e-mail to Microsoft employees about layoffs

By on

Microsoft recently announced that it will axe 5,00 jobs at the company, with 1,400 of those announced jobs cuts being axed today. Steve Ballmer sent this letter out to the employees at Microsoft detailing the layoffs, and the company’s performance. In response to the realities of a deteriorating economy, we’re taking important steps to realign Microsoft’s business. I want to tell you about what we’re doing and why. Today we […]

Microsoft posts disappointing results, axe 5,000 jobs

By on

Microsoft has announced that it will axe 5,000 jobs, or 5 percent of its workforce, after posting revenue of $16.63 billion, or $0.47 per share. It also announced that it will cease giving forecasts for its earnings for the rest of the year due to the current economic climate. People in research & development, marketing, sales, finance, legal, human resources and IT will be axed; though it is not known […]

Nokia profits fell 69 percent, predicts industry to fall 10 percent in 2009

By on

Nokia, the number one mobile handset maker, has said that its operating profits fell 69 percent during Q4 of 2008, according to the Associated Press, and has painted a bleak picture for the mobile devices industry by saying that it expects it to fall. Nokia reported that in its earnings report that its net sales were 26 euro cents (or 33 US cents) per share during Q4 2008, with sales […]

Apple’s earnings soar past expectations

By on

Apple has said that its first-quarter earnings for this financial year were significantly higher than what analysts have said after a disappointing holiday season for many tech companies because of the economy, recording $10.2 billion in revenue, up from its last year’s result of $9.6 billion. For shareholders, this equals $1.78 per share in earnings, higher than the analysts predicted price of $1.39. This has been the first time, as […]

SEC reviews Apple response over Jobs’ health

By on

Bloomberg is reporting that, according to a source “familiar” with the matter, that the US Securities and Exchange Commission is examining if Apple shareholders were misled from Apple’s response over its CEO’s, Steve Jobs, health; which has been a public matter since Jobs admitted that he had a “hormonal imbalance”. The source, who wasn’t named since this wasn’t made to the public yet, also said that while Apple is being […]

Samsung announces restructure – consolidates operations in two divisions

By on

Samsung Electronics has said that it will plan a restructure that would consolidate several of its business operations into two divisions, because of the slowing global economy. The new restructuring plan was announced during a personnel announcement at the company, and the broader Samsung Group. The two will be titled the “Device Solution” division and the “Digital Media and Communications” division. The Device Solutions division will be headed by current […]

Intel Q4 2008 earnings fall as PC sales go down

By on

Intel has said that its earnings had fell below what they made last year, however, they managed to meet the Wall Street forecasts, even though a massive writedown and PC sales crippling the demand for microprocessors were some of the causes. The biggest maker of semiconductors worldwide has also said that it earned 4 cents a share in Q4 to make $8.2 billion, down from last year’s 38 cents a […]

AT&T, Verizon stock ratings downgraded

By on

Bernstein Research has said that the wireline telecom performance will be “relatively worse” in 2009 as they expect slower wireless growth – and in response to that, they have downgraded the stock ratings on telecommunication giants Verizon and AT&T. Verizon was downgraded from “market perform” to “underperform”, while AT&T was downgraded from “outperform” to “market perform”. In a note to clients, analyst Craig Moffett said that they “believe the TelCo […]

Wikipedia owner raises needed funds for operations until June

By on

The Wikimedia Foundation, known for being the operator of Wikipedia and the owner of the open-source software behind it MediaWiki, has announced that it has raised the necessary funds to operate the popular and free encyclopaedia until the end of June. Though asking for only $6 million; more than 125,000 have raised more than $6.2 million since July 1st. This is partly due to a personal letter made by founder […]

Dell execs leave as company restructures

By on

In a major shakeup since founder Michael Dell returned to the no. 2 PC maker, two Dell executives have announced that they will leave the company as it undergoes a restructure. Mike Cannon, president of Global Operations, and Mark Jarvis, marketing chief, were brought in to help the company to regain it status as the no. 1 PC maker after falling behind rival HP. The restructure, which includes slashing 8,000 […]

Telstra loses $12 billion after NBN bid failure

By on

Telstra has lost more than $12 billion of its market value after the news of its National Broadband Network bid was rejected by the Government on Monday. According to The Australian, Telstra lost $9 billion on Monday, and lost an additional $3 billion when its shares fell 24 cents in early trading today. Afternoon trading didn’t help Telstra, as its shares lost 13c to close at $3.52, with the ASX200 […]