Tag Archives: q3 2012

Best Buy posts $13 million loss in fiscal Q3 on lowered $10.75 billion in revenue

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Best Buy retail store

Best Buy had warned that its fiscal third quarter wouldn't be great, and the company clearly isn't putting on any rose-tinted glasses. Its revenue declined year over year from $11.15 billion to $10.75 billion, and it swung from $173 million in profit on continuing operations last season to $13 million in losses this time around. While the company hasn't drilled into the specifics of what led to the downturn, it's pointing to trends of the "last three years" as the culprits -- we'd say that's shorthand for shifts towards online sales and away from traditional electronics like TVs. Whatever the specifics, the company doesn't expect an immediate turnaround and has lowered its guidance for free cash flow in the next fiscal year from a minimum $1.25 billion to $850 million. If there's a ray of sunshine, it's that the big-box store chain already knows the belt tightening needs to continue: it recently kicked off a Renew Blue strategy that it hopes will improve our shopping experience and get its own fiscal house in order.

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NPD: Digital game sales up 22 percent in Q3, almost the majority slice of a $2.87 billion pie

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NPD Gaming industry hauls in $287 billion during Q3 2012, digital sales up 22 percent

Take one look at NPD's quarterly gaming sales report and it'll be hard to deny that digital distribution now carries the industry's momentum. For the months of July through September, digital sales were pegged at $1.4 billion, which represents a 22 percent increase over Q3 2011. In comparison, new physical sales declined by 16 percent year-over-year, which raked in $1.07 billion for the industry. It's only when the used and rental markets are taken into consideration -- which snagged $399 million in change -- that physical sales remain ahead of the digital game. A broader look at the video game industry reveals a bit of stagnation, as overall sales have declined by one percent when compared to Q3 2011. With that in mind, perhaps you'll consider making a few extra downloads this holiday season, just to nudge things along.

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NPD: Digital game sales up 22 percent in Q3, almost the majority slice of a $2.87 billion pie originally appeared on Engadget on Fri, 16 Nov 2012 03:05:00 EDT. Please see our terms for use of feeds.

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NPD: Digital game sales up 22 percent in Q3, almost the majority slice of a $2.87 billion pie

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NPD Gaming industry hauls in $287 billion during Q3 2012, digital sales up 22 percent

Take one look at NPD's quarterly gaming sales report and it'll be hard to deny that digital distribution now carries the industry's momentum. For the months of July through September, digital sales were pegged at $1.4 billion, which represents a 22 percent increase over Q3 2011. In comparison, new physical sales declined by 16 percent year-over-year, which raked in $1.07 billion for the industry. It's only when the used and rental markets are taken into consideration -- which snagged $399 million in change -- that physical sales remain ahead of the digital game. A broader look at the video game industry reveals a bit of stagnation, as overall sales have declined by one percent when compared to Q3 2011. With that in mind, perhaps you'll consider making a few extra downloads this holiday season, just to nudge things along.

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NPD: Digital game sales up 22 percent in Q3, almost the majority slice of a $2.87 billion pie originally appeared on Engadget on Fri, 16 Nov 2012 03:05:00 EDT. Please see our terms for use of feeds.

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Hon Hai Precision sees profits surge in Q3

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The two-headed beast that is Foxconn / Hon Hai has just released its latest financials, showing that the oft-troubled manufacturer has seen profit margins jump around two percent. It brought in $24 billion (NT$ 711.0 billion) in net sales, generating a net profit of $1.3 billion (NT$ 30.2 billion). At the end of September, it had $1.4 billion stashed in the bank, and the company has said it is striving to enforce "social and environmental responsibility," as it should, really.

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Hon Hai Precision sees profits surge in Q3 originally appeared on Engadget on Wed, 31 Oct 2012 09:07:00 EDT. Please see our terms for use of feeds.

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Asustek Q3 net profits said to be up 43 percent to $230 million thanks to Nexus 7, convertibles

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ASUS PadFone 2 handson

Asustek has just painted a pretty Q3 financial picture, showing a 43 percent jump in net profits -- $230 million compared to $160 million last year, according to the WSJ. Gross revenue also climbed 9 percent to around $3.8 billion, which the company attributes to the popularity of its Google-partnered Nexus 7 tablet, along with convertibles like the Transformer Prime TF201 and a healthy notebook lineup. Asus boosted PC shipments nearly 12 percent according to the last round of Gartner surveys, helping it stay the fifth largest player in that market. The company sees good things ahead for Q4 too, expecting double digit gains in PC and tablet shipments due to its burgeoning Windows 8 lineup finally hitting the market. That'll depend, of course, on how well users gravitate toward the fledgling OS.

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Asustek Q3 net profits said to be up 43 percent to $230 million thanks to Nexus 7, convertibles originally appeared on Engadget on Tue, 30 Oct 2012 09:15:00 EDT. Please see our terms for use of feeds.

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MetroPCS breaks 1 million LTE customers, makes $193 million profit despite losing 312,000 users in Q3

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MetroPCS breaks 1 million LTE subscribers, makes a $193 million profit in Q3 2012

MetroPCS might be the smaller of the two parties in the proposed merger with T-Mobile, but it certainly knows how to coin a profit in difficult times. The carrier recorded a massive $193 million net profit this quarter, $44 million more than it made in Q2, despite losing 312,000 subscribers in the three month period. The reason behind the rosy numbers was a combination of cash-saving exercises and canny investments in securities, pushing total revenue to $1.3 billion. The network now has just under nine million customers, with more than a million of those subscribing to one of the company's LTE packages. It's also managed to reduce churn down to 3.7 percent, a reduction of 0.8 percent since Q3 2011. CEO Roger D. Linquist remarked that the next quarter will see the business "re-energize" subscriber growth at the expense of its bottom line -- probably wise, given that it's lost just over half a million customers in the last six months.

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MetroPCS breaks 1 million LTE customers, makes $193 million profit despite losing 312,000 users in Q3 originally appeared on Engadget on Tue, 30 Oct 2012 06:51:00 EDT. Please see our terms for use of feeds.

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IDC: Samsung and Apple still kings of the smartphone market, Nokia loses top five spot to RIM

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IDC Samsung and Apple still kings of the smartphone market, Nokia loses top five spot to RIM

IDC's third quarter figures are in, complete with a few unexpected shake-ups. The entire cellphone market grew 2.4% over the same time last year, but smartphones drove the majority of that, showing growth of 45.3% and beating the analysts' expectations. Of the 179.7 million smartphones shipped, Samsung and Apple devices accounted for almost half of them, with the companies retaining their number one and two positions in the market, respectively. IDC notes that iPhone shipments didn't increase, but this is somewhat expected given the latest iteration was released only a short time before the end of the quarter. What we find particularly interesting is that Nokia was ousted from the top five smartphone players and replaced by RIM. Whether Nokia's upcoming Windows Phone 8 devices will put it back in contention remains to be seen, as does the effect BB10 and RIM's new handsets will have on the market. ZTE finished fourth in the list thanks to increased sales in North America, with HTC rounding up the top five vendors with continued uptake of its power devices. With a bunch of new handsets coming to the table and the holiday season fast approaching, look out for even more surprises in the fourth quarter numbers, due early next year.

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IDC: Samsung and Apple still kings of the smartphone market, Nokia loses top five spot to RIM originally appeared on Engadget on Fri, 26 Oct 2012 03:56:00 EDT. Please see our terms for use of feeds.

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Samsung makes $7.4 billion in Q3 profits, surpasses expectations

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Samsung set the bar a little lower than the final mark when it told investors its expectations earlier this month, posting $7.4 billion in operating profits for Q3 and $5.97 billion in net income. This handily bests the $7.28 billion profit it told investors to expect, nearly doubling what it made over the same period last year. Why the jump? You can blame the Galaxy S III, which increased shipments "significantly due to global expansion," the company says. Indeed, smartphone sales are credited to Sammy's quarter over quarter leap in revenue. Consumer electronics sales also boosted profits a fair deal, achieving "industry leading profitability" in the TV market, according to Samsung, who cited growth both in the consumer space, and in the sales of OLED panels for televisions, tablets and high-end smartphones.

The company's semiconductor sales, on the other hand, dropped by eight-percent in the face of weak PC demands. Samsung expects demand for PC DRAM and other high value-added chip products to remain weak, but optimistically notes that the sector is still profitable, and may pick up as new devices come to market. Got the basics? Great -- dive into the details and charts at the source link below, or read on for Sammy's official Q3 press release.

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Samsung makes $7.4 billion in Q3 profits, surpasses expectations originally appeared on Engadget on Thu, 25 Oct 2012 20:02:00 EDT. Please see our terms for use of feeds.

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Amazon Q3 2012 earnings: $13.18 billion revenue, net loss of $274 million

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Amazon announces Q3 2012 earnings

Amazon has just released its earnings for the third quarter of the year and it looks like it's slightly off analysts' expectations. The company reported $13.18 billion in revenue (a growth of 27 percent) and an operating loss of $28 million, with net income standing at a loss of $274 million. As Amazon notes, though, a chunk of that, some $169 million, comes from losses resulting from its investment in LivingSocial -- it says the figure is "primarily attributable to its impairment charge of certain assets, including goodwill." Expectedly, the company still isn't offering any specific numbers for device sales, noting only that the Kindle Fire HD is the number one selling product across Amazon worldwide, and that the next two bestselling products worldwide are the Kindle Paperwhite and the $69 Kindle. As for its outlook for the next quarter, the company is expecting net sales of between $20.25 billion and $22.75 billion, and operating income of anywhere from a loss of $490 million to a profit of $310 million. You can find the company's full breakdown of all the numbers at the link below.

Continue reading Amazon Q3 2012 earnings: $13.18 billion revenue, net loss of $274 million

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Amazon Q3 2012 earnings: $13.18 billion revenue, net loss of $274 million originally appeared on Engadget on Thu, 25 Oct 2012 16:07:00 EDT. Please see our terms for use of feeds.

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Sprint sells 1.5 million iPhones, 1 million other smartphones, but makes a net loss of $767 million

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Sprint 2012 Q3

Sprint's latest financials show that while the network is slowly stemming the flow of cash from its veins, it's not quite there in terms of turning a profit. The country's third biggest carrier suffered a $767 million net loss and an operating loss of $231 million -- much less than the $629 million operating loss it had in Q2, but on-par with the $208 million lost in the same period last year. The business did manage to bring in total revenues of $8.8 billion, but had to take a hit on a $397 million write-down on costs related to Network Vision and the continued pain of the Nextel shutdown.

On the customer size, it added a further 900,000 users, sold 1.5 million iPhones and a further 1 million "LTE smartphones" in the quarter. Those with long memories will know that the company sold the same number of Apple handsets in the last two quarters, with around 40 percent going to new customers then as now. However, churn, the deadly enemy of all carriers, increased to 1.88 percent, up from 1.69 percent in Q2. The network did manage to coax 59 percent of former Nextel customers to stay tied up with Big Yellow, which may account for it selling nearly 1.2 million Direct Connect devices. While it's hardly a rosy estimation of Sprint's financial health, this report doesn't take into account Softbank's $20.1 billion buy-out or the regained controlling stake in Clearwire -- so we're expecting the next financial announcement to contain some more exciting news.

Update: During the conference call, Dan Hesse was asked about adopting a shared data plan to rival Verizon and AT&T, but unlike the last call, he was dismissive of the idea.

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Sprint sells 1.5 million iPhones, 1 million other smartphones, but makes a net loss of $767 million originally appeared on Engadget on Thu, 25 Oct 2012 07:05:00 EDT. Please see our terms for use of feeds.

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