The $1.5 trillion tax cuts that the government passed last month is beginning to look great for companies like AT&T or Verizon, which had a bunch of deferred taxes on their books. After Verizon announced it can now tack $17 billion in extra profit to its quarterly results, thanks to the new tax law, AT&T came out swinging, and booked $20 billion in Q4.
“We expect revenue to be between $84 billion and $87 billion.” This simple sentence mentioned on the fly by CEO Tim Cook during a conference call with investors discussing Apple’s current quarter forecast, have sent the stock on an upward trajectory since Friday, the day the iPhone X was released. If this revenue number pans out, and Apple is usually conservative with estimates, this will mark the most bountiful quarter for any company… in history.
T-Mobile CEO did not comment on the rumors of Sprint merger
Google parent Alphabet reported its 2017 second quarter earnings today after the closing bell. The company reported a 21% year-over-year increase in revenue from the $21.5 billion reported during last year’s second quarter. $25.1 billion flowed into the company’s coffers during the period from April through June. Earnings per share, at $5.01, topped Wall Street expectations of $4.49. Paid clicks rose 52%, but the cost per click dropped 23%. The Street was looking for a smaller 15% drop, which means that advertisers paid much less to advertise on Google than expected.
Also negatively affecting …
BlackBerry reported its fiscal first quarter 2018 earnings this morning, and as the company continues to focus on the “Enterprise of Things” and cybersecurity, it was able to report a profit for the period. Under GAAP (certain accounting rules), BlackBerry reported a profit of $1.23 per share vs. a loss during last year’s fiscal Q1 of $1.28 a share. On a GAAP basis, the company had revenue of $235 million for the three months ended in May. $160 million of that amount came from sales of software and services. Under GAAP, BlackBerry had gross margins of 64%, and ended the three months with $2.6 billion …
It all started back in January, when Apple filed three law suits against one of the biggest mobile chip makers, Qualcomm. One was for unpaid royalties, the second was for abuse of power over the market, and the third said that the chip maker didn’t follow through on promises to license its standard essential patents at a reasonable price. Of course, Qualcomm didn’t just sit idly, and filed counterclaims against Apple for a variety of reasons.
Now, new information has been released by Qualcomm, which hurts not only the chip-making company and Apple, but everyone …
In a market which values growth over market share, even just the slowdown of a company’s expansion can be somewhat bad news. Such is the case with Huawei, the Chinese telecommunications equipment and smartphone maker, whose recent successes in the mobile phone industry have apparently lowered the company’s profit growth for 2016.
BlackBerry has surprised analysts with a small profit for the fiscal fourth quarter, but revenue was well down on expectations as sales of new smartphones and software disappointed.
A massive cost-cutting exercise has led to profit despite weak sales. The company has laid-off half of its workforce in the past two years and sold vast property holdings in Canada.
The company published its results for the three months to February 28 on Friday, showing revenue of just $660m (£443m). That income is down drastically from the $976m seen the year before, and some way short of the $786m expected by analysts polled by Thomson Reuters.
Only 42 per cent of this came from hardware sales, as it sold just 1.6m smartphones during the period, with 47 per cent from services and ten per cent from software sales.
In recent months is launched the BlackBerry Passport and Classic but their reception failed to make a big splash, with high-profile releases from Apple, Samsung and HTC within months of it continuing to bag the majority of smartphone market share.
Analysts claimed in February that the company had just 700,000 users in the UK, with this number expected to fall to just 400,000 by 2017.
In 2014 Windows Phone ousted BlackBerry from its third-place position in the table of the UK smartphone user base.
Profit during the period was $28m, equating to four cents per share – significantly up on the eight cents loss seen a year ago.
Chief executive John Chen said: “Our focus this past year was on getting our financial house in order while creating a multi-year growth strategy and investing in our product portfolio. We now have a very good handle on our margins, and our product roadmaps have been well received.
“The second half of our turnaround focuses on stabilisation of revenue with sustainable profitability and cash generation.”