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Billionaire Soros 'likes' Facebook to the tune of $212m; Alibaba out of favour

Billionaire George Soros has slurped up $212m (£135m) of Facebook shares, while simultaneously shedding $365m (£233m) of stock in Chinese giant Alibaba. Last quarter, Soros had just $10.2m (£6.5m) in Facebook shares and $370m (£236m) invested in the Chinese tat bazaar. The shift in stock preferences was revealed in a …
Kat Hall, 17 Aug 2015

iMaker Hon Hai/Foxconn earnings stall as fanbois hold fire

Hon Hai/Foxconn's revenue slowed dramatically in the second quarter, as its iGadgets manufacturing reliance began to take its toll, with fanbois' showing thrift in anticipation of a new iPhone launch later this year. The Taiwanese manufacturer stated that Q2 net profits had risen 27 per cent from the preceding year, reports …

Alibaba shares down as growth slows to a continental creep

After the largest-ever initial public offering in September, Alibaba has reported its slowest quarterly revenue growth in three years. The Chinese e-commerce titan has been embattled by market competition, on top of the woes of China's domestic economy. Investors in New York were spooked and shares fell by seven per cent, …

Lenovo CEO: We will axe 3,200 workers as our profits shrink to nowt

There’s no room for sentiment or emotion in business, as Lenovo showed today when it reported an 80 per cent crash in pre-tax profits and plans to axe 3,200 jobs across the group. Revenues for the three months ended 30 June grew three per cent, excluding the impact of for-ex conversions to $10.7bn – but the firm saw a 47 per …
Paul Kunert, 13 Aug 2015
Amplify tablet

Rupert Murdoch rips up his own fondleslab foundry

Rupert Murdoch's unerring nose for a future tech market failure has struck again, with the company writing down its Amplify education business. Amplify, created out of the acquisition of Wireless Generation, and was supposed to corner the educational market. News acquired it for US$360 million in 2010, and subsequently poured …

Pure as the driven IPO: Upstart tells SEC it's go for stock market debut

Pure Storage, funded to the tune of $470 million and valued at around $3 billion, has filed for an IPO. The all-flash array biz was founded in 2009 and has taken in funding and grown fast every year. It's currently being ranked as the second highest player in the all-flash array market behind EMC, which Pure sees as its main …
Chris Mellor, 13 Aug 2015

Cisco kicks off Robbins' reign by beating the street

Cisco's new CEO Chuck Robbins has had the pleasure of reporting ahead-of-expectation results for Q4 of 2014/15. In the quarter that saw Robbins take over the big office from the seemingly-eternal John Chambers, Cisco reported year-on-year growth for the quarter of 3.9 per cent (US$12.8 billion). Full-year 2015 revenue was …

Red-stained Opera wants someone to hug it and whisper: 'No more pain, no more tears'

Opera Software has announced a 45 per cent revenue boost for its second quarter of financial year 2015 while hinting at a possible buyout, but didn't draw much attention to its $3m losses. Chairman Sverre Munck said on Wednesday that “the board has seen an interest in different alliances and cooperations with Opera over the …
Jennifer Baker, 12 Aug 2015
ASUS Chair Jonney Shih Computex 2015 press conference

Smartphone sales looking rosy for Asus, despite PC meltdown

While the mobe power base is shifting from the traditional players to the new upstarts, with Samsung and HTC suffering at the hands of Huawei and Xiaomi, Asus is having a good time in the good old handset market. Sales were up from three million in the first quarter to five million in the second and the company is predicting …
Simon Rockman, 12 Aug 2015

Outsourcing tanker CSC sales growth torpedoed

Leaky outsourcing tanker CSC saw sales growth drift off on the horizon for yet another quarter – the first of its fiscal 2016 – but the services slinger is back in the black, without the help of tax benefits. The fact CSC slashed costs and expenses by nearly half a billion dollars had nothing to do with bottom line beefiness, …
Paul Kunert, 12 Aug 2015

Symantec’s dismal results show need for Veritas sale

Symantec’s latest results, published on the day of the Veritas sell-off announcement, show a 14 per cent revenue decline and 49 per cent profit fall on the annual compare. Revenues of $1.5bn produced profits of $117m, compared with $1.74bn and $236m respectively a year ago. On the sequential compare, the previous quarter’s …
Chris Mellor, 12 Aug 2015
4 arrows signs in arrow on wooden wall

Sales up, profit up, but no champagne corks popping at Rackspace

The gods of tech sales finally smiled on Rackspace in calendar Q2 of 2015. But the biz isn't celebrating just yet, because it's public cloud arm is stuck in first gear. The cloud server-hosting biz reported an 11 per cent year-on-year growth in turnover to $489.4m (£314.2m) in the three months ended 30 June. Total costs and …
Paul Kunert, 11 Aug 2015

Poor Imation's revenues continue their never-ending death spiral

Imation’s board may be thinking that breaking up is hard to do. But, with the continuing decline in revenues, the only way to get any value out of the company may be to sell off the promising parts and forget the rest. It carried on plunging down the revenue slope with a 15.7 per cent annual decline in its second-quarter 2015 …
Chris Mellor, 11 Aug 2015

Apple splashes dough to keep Big Cheese safe

Apple spends $699,133 every year to keep chief exec Tim Cook safe, far, far higher than his modest life insurance premium of $2,500, according to an official document. The big figure isn't broken down and comes from a proxy statement filed with the Securities and Exchange Commission. This amount represents: (i) the Company’s …
John Leyden, 10 Aug 2015

Big operating expenses rise clobbers Dot Hill's otherwise healthy profits

Storage biz Dot Hill is back and boasting a third quarter of double-digit revenue growth – but also reports anorexic profits caused by some whopping admin expenses. Its second 2015 quarter showed revenues of $61.5m, 28 per cent up on the year-ago’s $48.2m and marginally more than the previous quarter’s $61.1m. Dot Hill …
Chris Mellor, 10 Aug 2015

Arista bullish for full year results after 47 per cent YoY growth in Q2

High-performance data centre switching upstart (and Cisco litigation target) Arista Networks has reported 47 per cent revenue growth year-on-year for the quarter ended June 30. The company's financial release says it recorded US$195.6 of revenue, and a GAAP net income of $24 million (up from $21.6 million for the corresponding …
Miss Piggy sings opera

Opera Software asks fat lady to stay shtum for a bit, but keep humming

Opera Software, maker of the Opera browser, has “has initiated a process to evaluate and consider strategic alternatives for the Company”. Opera's browser is very well-regarded, but last week the company announced preliminary second quarter will be at the lower end of forecasts and also reduced its future revenue forecasts. …
Simon Sharwood, 10 Aug 2015

Tesla still burning cash: each car loses $4,000

Whatever its utility, Tesla's robo-charger video did one thing for the company: it distracted attention from the company's latest financial reports. Outlets like Reuters aren't impressed, with this report noting that Elon Musk's baby “burned US$359 million in cash last quarter in a bull market for luxury vehicles”. Tesla's …
Derailed train wagon. Pic: New York MTA

Teradata blots copy book with first loss in years

Teradata lost $265m in its second quarter 2015 as a $340m goodwill impairment charge hammered profits, along with continued deferrals of large transactions and longer sales cycles. Revenues in its second calendar 2015 quarter were 8 per cent down year-on-year at $623m, while net income plunged from $96m a year ago to a the $ …
Chris Mellor, 7 Aug 2015

Investors cheer as SGI loses LESS than expected

SGI has pleased financial markets by losing significantly less for Q4 2015 than prognosticators had seen in their crystal balls. By turning a net loss of US$0.12 per share for the quarter (total of $4 million, non-GAPP, the iron-monger beat estimates of a much words $0.20 per share net loss (which would have amounted to $6.67 …
Nvidia GeForce

Pray harder for AMD

Graphics and mobile chip kingpin Nvidia posted unexpectedly solid results for the second quarter of its fiscal 2016 on Thursday and said it projected next quarter's numbers to be strong, as well. Total revenue for the three months ending on July 26 was $1.15bn, which trounced even Wall Street's most optimistic expectations. …

Cher tells HTC: If I could turn back time ... if I could find a way (to not lose $250m in a quarter)

HTC has warned staff there will be mass layoffs after the biz lost more a quarter of a billion dollars in three months. For quarter ending June 30, HTC turned $NT33bn (US$1.04bn) in revenues (down 49 per cent year-on-year) into a NT$5.1bn (US$161.1m) loss, thanks to slow sales of its Android mobile devices. China in particular …
Shaun Nichols, 6 Aug 2015

Avnet TS bemoans slow PC sales and currency for Q4 shrinkage

Avnet Technology Solutions reported a near double-digit decline in revenues to close off Q4, despite selling roughly as many enterprise tech products as it did in the same period a year ago. A financially flattish quarter turned into a declining one, in part when local coinage was converted back into a strong dollar, but …
Paul Kunert, 6 Aug 2015
4 arrows signs in arrow on wooden wall

Apple goes to crapple in stock plunge kerfaffle: $113bn wiped off in days

Peak Apple Apple is in the midst of a stock drop that has caused the Cupertino giant to lose as much as $113bn in market cap. Since posting its last quarterly numbers, Apple (Nasdaq:AAPL) has seen its stock price drop from $125.22 per share to a low point of $112.10. Wary that Apple's meteoric growth from recent years is slowing down as …
Shaun Nichols, 5 Aug 2015

Systemax bleeds $28m while its shares bounce off the floor

With the store closure programme Stateside, the axe falling on EMEA boss Pim Dale, and the industry-wide currency crisis, portents of doom hung over Systemax’s Q2 numbers. And so it has come to pass – the once mighty tech reseller last night reported another quarter of double digit sales declines and widening losses. Turnover …
Paul Kunert, 5 Aug 2015

Quantum's StorNext isn't storing up revenues fast enough

Quantum swung into loss-making territory with its latest quarterly results as reduced revenues couldn't cover existing costs. The StorNext ejector seat, as tape revenues crash and burn, maybe didn't operate fast enough. As its forewarning indicated, revenues in the quarter ending 30 June were down 13 per cent to $110.9m, from …
Chris Mellor, 3 Aug 2015

'We fell short' says QLogic CEO in August's understatement-of-the-month contender

As expected from its earlier warning shot, QLogic's first quarter fiscal 2016 results were pretty bad. Revenues of $113.4 million were 5 per cent lower than a year ago, with net income of $2.6 million being 57 per cent down on last year's Q1. Within the revenue number, Advanced Connectivity Platforms (Fibre Channel and …
Chris Mellor, 3 Aug 2015

Nokia sells HERE maps to Audi, Daimler and BMW for €2.8 billion

Nokia has announced that a consortium comprising AUDI AG, BMW Group and Daimler AG will drive off into the sunset as joint and owners of its HERE maps unit. Readers may know HERE as “Navteq” and recall that Nokia acquired the company back in 2007 for the small matter of US$8.1 billion. The company later renamed the service “ …
Cray Research Cray 2

Q2 wins drag Cray back into profit territory

Cray Computer's commanding footprint in the high-performance computing (HPC) market has pitched the venerable vendor back into profitability. In its Q2 2015 results announced Thursday, the company reported US$186.2 million in revenue and $5.8 million in profit, both well above what was reported for the same period in 2014, …

It's Friday! Had a good week? It was probably better than Seagate's

In keeping with its warning, Seagate confirmed a revenue and profits decline as its mainstay desktop and notebook drive shipments tumbled for the third straight quarter. Enterprise drive shipments also declined in the fourth quarter of fiscal 2015, as did branded (consumer drives), although consumer electronics shipments rose …
Chris Mellor, 31 Jul 2015

Uber unleashes $1bn war chest to crack Indian market

Uber is to throw $1bn (£642m) of investment into the Indian market, in an apparent attempt to blast incumbent "sharing economy" taxi biz Ola out of the water. As the company clearly won't be investing in any physical infrastructure, the war chest will presumably be going toward an aggressive advertising and marketing campaign …
Kat Hall, 31 Jul 2015
A daisy

Daisy completes Phoenix IT gobble

Acquisition-ravenous Daisy Group has completed its gobble of tech services outfit Phoenix IT Group. The deal is a sizeable purchase for Daisy, with Phoenix turning over £233.4m in sales for the full-year 2014. The 1,400 engineers working for Daisy and Phoenix will be merged in the Partner Services division. The Phoenix …
Kat Hall, 31 Jul 2015
Big popes, images via Shutterstock

Expansion-hungry Equinix posts bumper sales

Net income at US data centre outfit Equinix jumped to $59.5m (£38m) for the company's second quarter of 2015, up from $11.3m (£7.2m) in the same period last year. Meanwhile, sales rose 10 per cent to $666m (£426m) for the three-month period. Equinix chief executive, Steve Smith, said: “This marks our 50th quarter of …
Kat Hall, 30 Jul 2015

Will the PC glory days ever return, WD asks as its finances slip

Are the glory days gone for good? Will the PC market ever come back? AS WD rues the damage that declining PC disk sales have done to its revenues, that’s a question that will be exercising its product strategists as they ponder its latest results. Revenues for its fourth fiscal 2015 quarter were 14 per cent down from a year …
Chris Mellor, 30 Jul 2015
Samsung Galaxy S6

What can't sell Galaxy S6s and keeps going down on you? Samsung and its profits

Samsung Electronics's profits fell eight per cent, year on year, in its second quarter of 2015 – as sales of its Galaxy S6 failed to gain traction. Profit for the three-month period, which ran from April to June, fell to 5.75tn won ($4.9bn, £3.2bn). Profit for the mobile division fell to 2.76tn won, from 4.42tn won a year …
Kat Hall, 30 Jul 2015
BT Openreach at work

Never mind falling revenues, BT watchers, look at the footy offering

BT had a mixed quarter, buoyed up mainly by TV subscriptions - and it has taken its results announcement as an opportunity to shore up its broadband position. Revenue to for the first quarter of financial year 2016, ending June 30th, at £4.28bn, down two per cent overall. There was a six per cent drop in revenue from Global …
Simon Rockman, 30 Jul 2015
Github octodex

Git a load of this: GitHub now valued at $2 billion

GitHub has received a $250m infusion of venture-capital cash that values the code-sharing website at $2bn. That means it's worth more than ZenDesk ($1.78bn), slightly less than the New York Times ($2.17bn), and more than stricken Yelp ($1.87bn). The San Francisco-based upstart said its Series-B funding round was led by VC …
Shaun Nichols, 30 Jul 2015

Facebook is raking in so much filthy lucre, it can't spend it fast enough

Facebook beat estimates on both revenue and earnings for the second quarter of its fiscal 2015, but investors seemed taken aback by the social network's soaring spending. The firm reported revenue of $4.04bn for the three months ending on June 30, which was up 38.9 per cent from the same period a year ago. Its earnings were …
Neil McAllister, 29 Jul 2015
Yelp search

Yelp whelps yelp 'Help!' Chairman ejects, shares plunge 30%, losses grow

Yelp is in full crisis mode as the upstart's chairman is out – and its stock continues to free fall. The reviews website, headquartered in San Francisco's startup land, announced on Wednesday that a modest $2.7m profit in the second quarter of 2014 had turned into a loss of $1.3m in the second quarter of 2015. This is despite …
Shaun Nichols, 29 Jul 2015

CommVault mired in losses. Will activist investors move in?

Data management specialist CommVault could be open to activist investor activity, said an analyst, after reporting a loss and seeing yearly revenues down on Americas sales inadequacies and foreign currency headwinds. First, fiscal 2016 revenues were down nine per cent on the year, at $139.1m, and down eight per cent …
Chris Mellor, 29 Jul 2015
Champagne Not Included

Capita cracks open the bubbly after 10 per cent sales jump

This year's huge Capita spending spree boosted the company's sales by 10 per cent to £2.28bn, according to the outsourcing giant's first-half results for 2015. During that period, the outsourcer splashed a total of £279m on 11 businesses, most recently snapping up Scottish business intel outfit Barrachd. Profits before tax …
Kat Hall, 29 Jul 2015
Grand Fromages at Reggio Parmagiano

Moshe's Infinidat happy to SHOUT about its progress

Moshe Yanai's Infinidat startup, which came out of stealth in April with its InfiniBox array, is bragging about its growth. It recently revealed figures including: 300 per cent sales growth in the second quarter compared with Q1 2015 500 per cent growth in channel sales 53 per cent of global sales came through resellers …
Chris Mellor, 29 Jul 2015