Articles about Financials

HP Inc CEO Dion: Whey-hey, we're on the pull

HP Inc has delivered its first full year of financial results, and they aren't looking good. Profits fell 63 per cent, revenue was down 6 per cent, and its earnings per share were down over a quarter. It had been a difficult year, CEO Dion Weisler acknowledged during Tuesday's earnings call, but the company is now planning to …
Iain Thomson, 23 Nov 2016

Nvidia's financials have great numbers. Yuge numbers. The best numbers, believe me

Nvidia continued its run of solid financials Thursday by turning in a $2bn quarter. The graphics chip designer said the quarter, its fiscal year 2017 Q3, saw record revenues and earnings per share. Revenues of $2bn were up 53 per cent from $1.3bn in the year-ago quarter. Net income of $542m was up 108 per cent from $246m …
Shaun Nichols, 11 Nov 2016
Data_image_via_Shutterstock

Tableau revenues drop due to weak UK sales, fingers sales bods not Brexit

Life could be better for data-visualisation business Tableau - today it reported weaker-than-expected Q3 revenues and placed the blame at the feet of its under-performing UK team, rather than the Brexit. The company had issued guidance to investors that it would grow revenues to $214m but fell short, bringing in only $206m for …

A sorry Brexcuse! Systemax blames Brexit for car crash Q3 results

Sickly supplier Systemax has blamed Brexit for its latest car crash financials as losses in the UK mounted in the wake of the EU referendum. The once mighty reseller reported falling year-on-year sales at its European Technology Group (ETG) for Q3 ended September, down 6.3 per cent to $226.5m. Trading output across the region …
Paul Kunert, 01 Nov 2016

Cisco president: One 'hiccup' and 'boom' – AWS is 'gone'

Cisco is the latest member of the technology old guard to take a pop at Amazon Web Services, claiming that the public cloud giant’s financials mean “one hiccup” and it could go bust. AWS-bashing is almost becoming an annual feature at Canalys Channels Forum; in 2014 the analyst estimated AWS was losing billions of dollars; and …
Paul Kunert, 14 Oct 2016

Tech Data swings and misses Wall Street moneymen's target

Tech Data's latest quarterly financials show a distributor wrestling with “weaker than expected” IT spending and trying to dip into “pockets of demand” across Europe and the Americas. The world’s second largest tech wholesaler filed turnover of $6.4bn for Q2 of fiscal year 2017 ended 31 July. This was down three per cent as …
Paul Kunert, 25 Aug 2016
A skull atop money

Cisco rewards massive profit jump with thousands of layoffs

Cisco is reporting record financial numbers on the same day it says it will cut 5,500 employees from its payroll. Switchzilla says that the move is part of its ongoing campaign to shift its focus from slinging networking hardware to providing software and services for enterprises moving to software-defined networks (SDN). CEO …
Shaun Nichols, 17 Aug 2016
Customer service motivation cube

What's Niu? No longer profitable, revenues down... but we're hiring!

Once-profitable managed services business Niu Solutions is now burning cash and CEO Shaun Ledgerwood reckons the company will take three years to get back in the black. Based in Surrey, Niu Solutions flogs services to the retail and financial sectors, collecting monthly fees on contracts ranging from one to five years. …

Bezos bags bonkers bucks as almighty AWS astounds again

Amazon Web Services (AWS) is on a roll after closing a financial quarter in which its operating income more than doubled. Amazon as a whole posted a solid quarter, with net sales of $30.4bn, up from $23.1bn, and net income of $857m, up from $92m. Much of that was due to the success of the cloud computing business. For the Q2 …
Shaun Nichols, 29 Jul 2016
The big split

Systemax flogs German sub to CANCOM

The break up of Systemax’s European operations may have just started after it brokered a “definitive agreement” to sell the Misco German subsidiary to CANCOM for an undisclosed sum. Under the terms of the deal, staff and customer lists will be transferred to the new owner. The deal is subject to closing conditions and is …
Paul Kunert, 25 Jul 2016

Internet exchange Linx cuts peering prices by 40% after rip-off claims

The London Internet Exchange (Linx) has announced it will slash prices – just one month after the non-profit was pointedly criticized for charging too much. The internet exchange point is Europe's largest provider of internet interconnect services and announced this week it would cut the cost of its LON2 port fees by 40 per …
Kieren McCarthy, 20 Jul 2016
Profits down, image via Shutterstock

Logicalis: Top line shrinks as UK restructuring continues

Restructuring at Logicalis that weighed heavy on the integrator’s financials in recent times will be over and done with at some point before the, er, end of next February. Datatec, the London-listed parent of Logicalis and networking and comms distie Weston, today issued a heads up for first quarter trading ended June - sales …
Paul Kunert, 20 Jul 2016
mergers and acquisitions

EMC staffers: We are crashing into Dell within weeks

Staffers at EMC and its subsidiaries are to get Dell email addresses from the start of next month as the proposed mega buy edges closer, insiders have told The Register. EMC shareholders last night approved the $62.4bn bid – somewhat lower than the original $67bn offer due to a slide in VMware’s share price – and Chinese anti- …
Paul Kunert, 20 Jul 2016
results

What's big, blue and red all over? IBM. Profit, z Systems down, cloud up

IBM today reported its second quarter financial results and the figures don't look good, with profits falling nearly 30 per cent. The venerable computing giant did perform slightly better than analysts expected, however GAAP revenues and profits are both down year-on-year. It's the 17th straight quarter of revenue declines for …
Iain Thomson, 18 Jul 2016
Facebook founder Mark Zuckerberg at Samsung's Galaxy S7 launch

Facebook likes Rich Heley, former Tesla veep

Facebook has head-hunted one of Tesla's prize head-hunts: Rich Heley, which the 'leccy car maker lured from Apple back in December 2013. At Apple, Heley worked on design, manufacturing techniques and supply chain, which made him a good fit for what Elon Musk needed. Facebook's now snared Heley into its hardware design …

Dixons, UK's fifth 'emergency service', brushes off Brexit scare stories

Dixon Carphone - which, god help us, wants to become the fifth emergency service in the UK - this morning played down the personal impact of market “volatility” that a post-Brexit vote will “inevitably” cause as it reported bumper profits for fiscal ’16. The retailer said like-for-like group sales edged up three per cent year- …
Paul Kunert, 29 Jun 2016

From Watson Jr to Watson AI: IBM's changed, and Papa Watson wouldn't approve

Completed in 1983, IBM's prestigious South Bank office in London, on the banks of the River Thames, owes a lot to the Brutalist style of architecture, popular in the 1960s and 1970s. It makes heavy use of concrete: a solid building for a solid company. The IBM logo has been outside that building for more than 30 years, an …
Billy MacInnes, 23 Jun 2016

Clouds rain revenue on Adobe's business

Adobe's reported continued growth in its cloud subscriptions, but not enough to satisfy investors. Its Q2 2016 revenue rose 20.4 per cent year-on-year to US$1.4 billion on the back of Creative Cloud subscriptions: the digital media business piled on 26 per cent year-on-year to hit $943 million, with Creative Cloud chipping in …
Business people move through revolving door. Photo via Shutterstock

Count 'em and weep: Intrinsic looking for fifth CEO in five years

The high office revolving doors at Intrinsic Technology are clearly still swinging - the company is on the hunt for its fifth CEO in five years after attempts to find a buyer ended unsuccessfully. Top dog Mark Bates has left the organisation after two years in charge and been replaced on an acting basis by non-exec chairman …
Paul Kunert, 21 Jun 2016
Bare knuckle fight, photo via Shutterstock

Netflix picks fight with internet exchange industry

The internet exchange industry is ripping customers off, charging too much for features people don't need, and spending millions on staff salaries, unnecessary marketing and social events. That's according to the vice president of network strategy and architecture for Netflix, David Temkin, who created a stir at a meeting of …
Kieren McCarthy, 20 Jun 2016
Pennies in a jar. Photo via Shutterstock

Go Comparex: Microsoft house counts cost of dealing with Gov.uk

The cost of righting historic accounting wrongs and winning lower margin or empty calorie government business has left Microsoft licensing slinger Comparex UK nursing losses. The firm piled on the British Pounds in the year ended 31 March 2015, growing turnover organically by a whopping 31 per cent to £41.95m, P&L accounts …
Paul Kunert, 02 Jun 2016

When are flat revenues not so bad? When your name is Cisco

Cisco says that it is optimistic on its financial outlook despite a "challenging environment" that saw the networking giant's quarterly revenues drop slightly. "We delivered a strong Q3, executing well despite the challenging environment," said CEO Chuck Robbins. "I'm pleased with our performance today as well as the progress …
Shaun Nichols, 18 May 2016
shutterstock_184661174

Vodafone posts uptick in Europe but UK still a challenge

Communications provider Vodafone posed a 3.5 per cent fall in UK sales to £6.2bn for the full-year 2016, while fourth quarter revenue in Europe grew for the first time in five years. Group revenue for the biz decreased three per cent to £41bn for the full-year 2016, while earnings before interest, taxes, depreciation and …
Kat Hall, 17 May 2016
money_987_648

Dell records $100m loss

Denali Holdings, the company that owns Dell, has published preliminary results for the three months ended April 29, 2016, disclosing a loss of US$100m. An SEC filing reports revenue of $13.2b, down from the $13.5b recorded during a comparable period in 2015. Last year's loss was also larger, at $300m. The preliminary results …
Simon Sharwood, 17 May 2016
Titanic sinking

Symantec: I know we said things'd get better when we sold Veritas...

Symantec is slipping back into cost-cutting mode just months after the split with storage arm Veritas was supposed to provide the healing balm the business so clearly needed. The standalone security biz wants to carve out savings of $400m via an “efficiency programme” that includes “eliminating stranded costs” from the sale of …
Paul Kunert, 13 May 2016
top of the bt tower

BT to splash £550m integrating EE. Firm shrugs: Cheap!

BT's £12.5bn gobble of EE will cost the business £550m in integration costs - according to the company's full-year financial results which were given a significant boost thanks to the acquisition. For its full-year results for 2016, revenue increased six per cent to £18.9bn, with profits up 15 per cent to £3bn. Revenue for the …
Kat Hall, 05 May 2016
Pennies in a jar. Photo via Shutterstock

Long term sick-note abuser Misco not losing nearly as much money

A pinkish hue has yet to return to the cheeks of sickly European reseller Misco but its latest financials indicate the patient is finally out of intensive care - the same cannot be said of its parent. Most of Misco’s vital statistics improved in calendar Q1, all but sales which slipped 5.3 per cent to $258.2m - or were down a …
Paul Kunert, 04 May 2016

Argos defection to Tech Data whips Ingram Micro's bottom... line

The loss of a retail supply contract with Argos helped push Ingram Micro’s European sales growth into the barrier’s during car crash Q1 financials. The US-headquartered tech distributor reported sales of $2.66bn on this side of the pond for the period ended 31 March. This was down 13.35 per cent year-on-year. Ingram is being …
Paul Kunert, 03 May 2016
Gary Kovacs, CEO of AVG. Pic: World Economic Forum

Mobile antivirus sales offset declining search revenues for AVG

The scourge of Android malware is helping to bolster the bottom line of security software firm AVG but the firm still ended up recording a slight decrease in profits. For the first quarter ending 31 March 2016, AVG posted revenues of $107.9m, compared to $102.8m in Q1 2015, a rise of five per cent. Sales from AVG’s emerging …
John Leyden, 28 Apr 2016

Apple man found dead at Cupertino HQ, gun discovered nearby

An Apple employee was found dead in a conference room at the iPhone giant's HQ in Cupertino, California, this morning. A gun was discovered nearby. Cops were called to the One Infinite Loop campus at about 8.35am. Sgt Andrea Urena of Santa Clara County Sheriff's Office described the death as "isolated incident," adding "nobody …
Shaun Nichols, 27 Apr 2016
Big cloud, image via Shutterstock

Outsourcery inks Vodafone finance deal as selloff rumours grow

Sickly slinger of cloud services Outsourcery has signed a finance deal with Vodafone to keep the wolves from the door as it prepares to restructure – or do what some are interpreting as readying itself for a sale. The AIM-listed bringer of infrastructure, apps and UC services revealed at the start of this week it is again …
Paul Kunert, 27 Apr 2016
TwitterIPO

Honestly though, Twitter can't do anything right

Microblogging platform Twitter has disappointed investors, missing Q1 2016 revenue and user growth forecasts. Its share price has fallen 13.5 per cent in after-hours trading today to $15.35. The San Francisco company's GAAP net loss of US$79.7m was considerably better than the first quarter 2015 loss of $162.4m (and also …
Stock market image via Shutterstock

Riverbed gears up for its second IPO

Exclusive Almost exactly a year since networking biz Riverbed exited from the stock market following pressure from activist investor Elliot, the company is once again gearing up for an IPO. The move to go private was prompted by Elliot, which had complained that the $1bn revenue company was not performing. Private equiteer Thoma Bravo …
Kat Hall, 26 Apr 2016
Scotty in the original Star Trek

Qualcomm channels Star Trek's Scotty as it faces a mobe chip wreck

Analysis Mobile chip designer Qualcomm typically channels Star Trek's Montgomery Scott, the chief engineer who under-promises to appear a miracle worker when he eventually delivers. The California-based biz follows the Scotty playbook by the letter. Just like the Enterprise's engineering guru would suck his teeth, cock his head, say it …
Chris Williams, 21 Apr 2016

Why we should learn to stop worrying and love legacy – Fujitsu's UK head

Interview In the UK, IT Godzilla Fujitsu is perhaps best known for its unwieldy public sector contracts, being responsible for running a sizeable chunk of the government's legacy technology. Indeed most of its UK and Ireland revenue has historically come from the public sector, some 70 per cent at the beginning of the last Parliament in …
Kat Hall, 15 Apr 2016
Marissa Meyer

Daily! Mail! eyes! up! Yahoo!'s news! arm!

The Daily Mail Group Trust (DMGT) confirmed on 11 April that is discussing a bid for Yahoo, one of a number of suitors to be eyeing up the troubled biz. In a statement the DMGT said: "Discussions are at a very early stage and that there is no certainty that any transaction will take place. We have no further comment at this …
Kat Hall, 11 Apr 2016

Your 30 second guide to the past three months on Planet Adobe: Talk about sitting on cloud 9

Adobe is crediting a surge in cloud services with helping to drive its best financial Q1 take ever. The Silicon Valley software giant said that its Creative Cloud and Marketing Cloud services recorded strong growth on the quarter and spurred the company to increase its revenue target for the year. For the three months [PDF] …
Shaun Nichols, 17 Mar 2016
Ice_hockey_game

Pretty, Nimble, but these financials just aren't nimble enough

Nimble Storage’s revenues rose to $90.1m in its fourth fiscal 2016 quarter but its losses deepened, to $32.4m, counter-balancing that good news. Overall revenues didn’t rise enough to assuage investors' concerns about future profitability. The company has fixed the big hole in its product line with the release of an all-flash …
Chris Mellor, 04 Mar 2016
Sorry we're closed

No more Nookie for Blighty as Barnes & Noble pulls out

Barnes & Noble's Nook business in the US is faltering, but that's nothing compared to the UK, where it's exiting and handing operations to Sainsbury's. The company has posted this announcement on its UK site. Effective from March 15, 2016, NOOK will no longer sell digital content in the United Kingdom. The NOOK Store on NOOK …
4 arrows signs in arrow on wooden wall

Truncated Q4 helped send Ingram Micro sales down 19 per cent

Sales at Ingram Micro went into a power-dive in calendar Q4, tumbling $2.7bn on the same period a year earlier. But on an organic basis the state of play was not nearly as bad as the topline number indicated. The world’s largest distributor - which is being slurped by Chinese conglomerate HNA Group for $6bn - filed turnover of …
Paul Kunert, 26 Feb 2016
trolley_shopping_648

Like those independent DevOps vendors? They might not be for long...

Enjoy those scrappy IOT and DevOps startups while you can, as many will not be able to resist the siren call of cash rich traditional vendors or the stock market this year, 451 Research has predicted. The analyst firm’s Tech M&A Outlook report has predicted “billions in investment” in a number of hotspot technology areas. This …
Joe Fay, 25 Feb 2016
NVidia aims to gives games power to handhelds

PC sales aren't doing so great – but good God, you're buying mountains of Nvidia graphics cards

If you thought the slump in PC sales was going to hit Nvidia like it whacked Intel and AMD, then, well, you were wrong. Nv just reported a record quarter to round off a record year in terms of sales. In the three months to January 31, revenues from the graphics chip giant's PC cards rose 25.4 per cent on the year-ago period to …
Chris Williams, 18 Feb 2016
ganesha_648

Cisco's Chambers mulls Indian manufacturing base

Cisco has foreshadowed adding India to its global manufacturing chain, suggesting the city of Pune as a possible location. John Chambers made the comments in a speech to the CNN Business Forum 2016 in Mumbai, as reported by India's Economic Times. The former Cisco CEO, and now executive chairman, said businesses who fail to …
management cloud4

Autodesk vapourises ten per cent of jobs to go completely cloudy

Autodesk, which is getting close to phasing out physical product sales, has announced it's also going to farewell 925 jobs, about ten per cent of its global workforce. The move comes less than two months after the company woke to find not one, but two “activist” investor funds on its share register: Eminence Capital and Sachem …

Alphabetti spaghetti: What Wall Street isn't telling you about Google

Alphabet, Google’s parent company, has made the front page with its latest financials – overtaking Apple as the world’s most valuable public company. But size isn’t everything. The numbers illustrate the nature of Alphabet’s grip over digital trade – with Alphabet really controlling the price of transactions, and what value …
Andrew Orlowski, 02 Feb 2016
1950s style illustration - Smiling woman talks into rotary phone

BT airs out new business structure as it digests EE

BT is to create a Frankenstein business unit on April Fools' Day worth £5bn out of old parts of BT Global Services focused on the UK, BT Business and EE's newly acquired business unit, it announced during "record" third quarter financial results. The major restructure plans come days after the outfit completed its £12.5bn …
Kat Hall, 01 Feb 2016
IBM CEO 'Ginni' Rometty

Ginni Rometty to pocket $4.5m bonus for IBM leadership

What do you get if you preside over 15 straight quarters of shrinking sales, evaporating profit and a sliding share price? A seven figure bonus if you are Ginni Rometty, the chief exec at IBM. Her base salary for 2015 remained unchanged at $1.6m, but the bonus swelled by $1m to $4.6m. Oh, and the long term incentives package ( …
Kat Hall, 29 Jan 2016
Amazon CEO Jeff Bezos

Investors furious that Amazon only made $482m last quarter

Amazon is taking a beating on Wall Street as the retail and cloud giant posted numbers that, although strong, were short of analyst expectations. The house of Bezos saw its stock price fall 13 per cent after the release of its quarterly and full-year financials. However, Amazon noted large gains in key areas, including the AWS …
Shaun Nichols, 28 Jan 2016
Sony logo

Sony slurps Altair Semiconductor to make 'things' sing

Sony has put US$212 million on the table to buy LTE silicon vendor Altair Semiconductor. The Israeli chip developer runs the gamut from 200 Kbps low-power (and low-cost) Internet of Things comms chips up to 450 Mbps chipsets for base stations, mobile Internet and motor vehicle applications. In December, the takeover target …

Juniper slurps packet-optical outfit BTI Systems

Juniper Networks has announced it's going to acquire BTI Systems. Once a packet-optical specialist, BTI Systems spent much of 2015 positioning itself into the software-defined networking (SDN) and network function virtualisation (NFV) markets. That work included giving its 8700 Series the ability to work with OpenDaylight SDN …