Tag Archives: quarterly

HTC pays price for One delays, reports worst quarterly profit so far in Q1 2013

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Instead of reaping the rewards of putting out a lovely new flagship, HTC has just reported its lowest ever profit -- a mere $2.8 million in unaudited net income -- during the first three months of this year. That compares to $173 million in the same quarter of last year, representing a pretty catastrophic fall of around 98 percent. Underlying revenue dropped by a third to $1.4 billion. The reason? The top-end smartphone on which the company's fortunes currently rest, the HTC One, mostly missed its scheduled global arrival date in March due to manufacturing delays, so it effectively didn't exist during the period in question. It has only just become available to pre-order in the US and won't start shipping to customers until April 19th. At this rate, the HTC First -- the manufacturer's second big announcement of the year -- might actually deserve its name.

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Source: Bloomberg, HTC

Tesla’s Q4 2012 earnings: $90 million net loss, but forecasts a profit for Q1 2013

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Tesla's Q4 2012 earnings $90 million net loss, but forecasts a profit for Q1 2013

If you're one Elon Musk, you're probably ready for just about anything to take the place of the only story dominating the Tesla tagline for the past few weeks. Of course, a $90 million net loss isn't the ideal story to overtake the Model S kerfuffle, but hey -- at least the company's aiming to pull in a profit next quarter. In a bid to keep investors focused on the positive, the automaker's Q4 2012 shareholder letter notes that Tesla is officially predicting its first quarterly profit in Q1 2013, sliding up from "late 2013."

For the quarter that just wrapped, the firm saw revenues of $306 million (a 500 percent increase sequentially from the $50.1 million seen in Q3 2012), and it ended the year with $221 million in total cash after having made the first quarterly principal payment of $12.7 million to repay the loan to the U.S. Department of Energy. Tesla also plans to deliver some 20,000 Model S vehicles in 2013, with around 4,500 of those happening in Q1. Europeans and Asians can expect their deliveries in "summer" / "late this year" (respectively), with the first Model X deliveries to occur in early 2014. Musk also told investors that it plans to "spend significantly less on capital expenditures" in 2013 compared to 2012, helping to (hopefully) generate "slightly positive net income on a non-GAAP basis" in Q1 2013.

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Source: Tesla

Panasonic remembers how to make money, reports $667 million profit last quarter

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Panasonic remembers how to make money, thanks to weaker yen and costcutting

Just as Sharp offered a slightly more hopeful glimpse at its balance sheet this morning, so too does Panasonic have something worth celebrating: a net profit of 61.4 billion yen ($667 million) in the last three months of 2012. Much of this profit stems from a weaker yen and previous cost-cutting exercises, however, rather than any surge in demand for Panny products -- in fact, underlying sales continued to slip, with cameras, TVs and Blu-ray recorders proving especially hard to shift. Nevertheless, compared to the meager $164 million Panasonic made at the start of 2012, or the ego-crushing $2.1 billion net loss it suffered in the last three months of 2011, no one in that big HQ is likely to be complaining.

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Source: Yahoo (AP), Panasonic (PDF)

Sharp expects to post $1.94 billion operating loss for the year, score a meager Q2 operating profit

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Sharp expects to post $1.94 billion operating loss for the year, squeak by with a meager Q2 operating profit

Sharp hasn't quite laid out its Q2 2012 financials, but it has laid down some bittersweet projections. According to Reuters, the Japanese firm hopes to post an operating profit for the current term, but will take a $1.94 billion loss for the year as a whole. This prediction is a tad more dismal then its earlier forecast, which predicted a $1.25 billion loss for 2012. The TV maker also cut its predicted net loss from ¥240 billion to ¥450 billion ($5.6 billion). Sharp still is hoping its cuts, layoffs and mortgages weren't in vain -- and a short term profit for Q2 could be all it needs to vindicate the $4.6 billion loan it took out in September. Sharp also said it was penning in $1.1 billion for restructuring expenses in Q2, hopefully helping it stay on track for its 2014 profitability goal.

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Sharp expects to post $1.94 billion operating loss for the year, score a meager Q2 operating profit originally appeared on Engadget on Thu, 01 Nov 2012 03:16:00 EDT. Please see our terms for use of feeds.

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Verizon reports Q3 wireless service revenues up 7.5 percent, LTE now available to 250 million people

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Verizon reports Q3 wireless revenues up 75 percent, LTE service now available to 250 million people

The folks at Verizon are revelling in their third consecutive quarter of double-digit growth, having reported a 14.3 percent overall increase in earnings per share year-over-year. Wireless service revenues -- not least from us smartphone users -- contributed heavily to that income, growing 7.5 percent compared to the same quarter in 2011 off the back of a "record high" profit margin. The operator attributes these gains to its "4G LTE network advantage," with its LTE service now available to 250 million customers and potential customers across the US, as well as to its "well-received Share Everything Plans and unmatched product portfolio." It added 1.5 million postpaid connections, bringing its total wireless membership to just shy of 96 million souls.

Continue reading Verizon reports Q3 wireless service revenues up 7.5 percent, LTE now available to 250 million people

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Verizon reports Q3 wireless service revenues up 7.5 percent, LTE now available to 250 million people originally appeared on Engadget on Thu, 18 Oct 2012 04:20:00 EDT. Please see our terms for use of feeds.

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Nikon makes $201 million quarterly profit, nearly 50 percent drop from last year, blames strong yen

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Nikons 2013 Q1 $201 million in profit down nearly 50 percent from last year

Nikon's odd financial calendar means that the camera maker is announcing its first quarter results for 2013. The confusingly-dated documents show that it isn't having the best Spring / Summer, since while it pulled in a net profit of $201 million, that figure is down nearly 50 percent on the $392 million it made in the same period last year. It sold a record number of interchangeable-lens cameras, lenses and a good number of compact cameras, but that was offset against the high cost of the yen.

Its other businesses, Precision Equipment and Instruments both suffered thanks to Government spending cuts, a "harsh business climate" and the now age-old problem of the high exchange rate. It's expecting the situation to remain the same in the next three months, with booming camera sales weight against losses in its other businesses -- with a projected profit of $143 million anticipated in Q3.

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Nikon makes $201 million quarterly profit, nearly 50 percent drop from last year, blames strong yen originally appeared on Engadget on Wed, 08 Aug 2012 06:47:00 EDT. Please see our terms for use of feeds.

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    Sharp pain continues with $1.2 billion loss in Q1, drastically lowered forecast for 2012

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    Sharp pain continues with $12 billion loss in Q1, drastically lowered forecast for 2012Having already scraped through a disastrous 2011, Sharp had been banking on making a small but significant profit this year. Those hopes have now evaporated, with the Japanese manufacturer's forecast of 20 billion yen ($250 million) in operating earnings for 2012 being revised down to a 100 billion yen ($1.25 billion) loss. That dose of reality is largely the result of the quarter just gone, in which hardly anyone appears to have bought an Aquos TV (despite the 90-incher being pretty amazing) or a Sharp-made LCD panel, and the company made a 94 billion yen ($1.2 billion) loss in the space of just three months. According to Reuters, as many as 5,000 staff may lose their jobs in the company's first major round of lay-offs.

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    Sharp pain continues with $1.2 billion loss in Q1, drastically lowered forecast for 2012 originally appeared on Engadget on Thu, 02 Aug 2012 02:58:00 EDT. Please see our terms for use of feeds.

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    Sony releases Q1 2012 financial results, eats $312 million loss

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    Sony's first-quarter figures for 2012 show that despite the company's optimism three months ago, it's made a net loss of $312 million. It pulled in a whopping $19.2 billion in sales for the three months ending June 30th, partly credited to bringing Sony Mobile fully into the family. However, the cost of restructuring the Mobile Products and Communications Division (of which Sony Mobile is a part) came to $143 million, wiping out the additional gains to record a loss of $356 million. Gaming-wise, the PlayStation maker suffered a $45 million loss as falling sales of the PSP and PS3 were only partially offset by the sales of the PS Vita. There was better news in its imaging division, while sales of compact cameras fell, DSLRs and "Professional" products took up the slack, resulting in a profit of $160 million.

    In a trend we've seen across the Home Entertainment industry, sales of LCD televisions continued to fall, forcing the company to eat a loss of $126 million. Movie and TV recorded a loss of $62 million, although that's primarily due to a dip in advertising sales in India and the cost of marketing (but not producing) The Amazing Spider-Man, the profits of which won't be recognized until September. Finally, while it spent big to purchase EMI this quarter, big-ticket albums like Usher's Looking 4 Myself and One Direction's Up All Night helped the division make a profit of $92 million. While Sony's treading water to execute Kaz Hirai's "One" Strategy, it's still got $8.4 billion stashed under the mattress, and in the face of lower sales, is hoping that reduced costs will help it make $1.6 billion in profit by the end of March 2013.

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    Sony releases Q1 2012 financial results, eats $312 million loss originally appeared on Engadget on Thu, 02 Aug 2012 02:30:00 EDT. Please see our terms for use of feeds.

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    MetroPCS 2012 Q2 sees profits skyrocket to $149 million despite losing nearly 200,000 subscribers

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    MetroPCS announces Q1 2012 results: total revenues up, new subscriber growth shrinks

    MetroPCS has announced that it pulled in $1.3 billion in the second quarter of the year, only slightly more than it managed in the first. It made a profit of $149 million, well up from the $21 million it pulled in between January and March, despite shedding around 200,000 subscribers in the process. The company's deliberately concentrated on raising cash at the expense of new subscriptions in preparation for its 4G LTE for All project, due to begin in the third quarter. It revealed that it now has 700,000 LTE subscribers, up from the 580,000 present in March and that it plans to have a full 10MHz of spectrum allocated for the super-fast mobile standard in "most major metropolitan areas" by the end of the year. As for devices that'll take advantage of the 4G goodness, MetroPCS says that we can expect to see either six or seven new LTE handsets by year's end, each which will be priced between $99 and $149.

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    MetroPCS 2012 Q2 sees profits skyrocket to $149 million despite losing nearly 200,000 subscribers originally appeared on Engadget on Thu, 26 Jul 2012 22:06:00 EDT. Please see our terms for use of feeds.

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    Amazon Q2 2012 earnings: net income down 96 percent to $7 million, net sales up 29 percent to $12.83 billion

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    DNP Amazon Q2 2012 earnings TKTKTK

    When internet mega retailer Amazon kicked off its fiscal year this past spring with $13.8 billion in net sales, the prognosis for the quarter ahead was dour, to say the least. At the time, the company projected its Q2 2012 performance would see an operating loss of $40 million to $260 million versus Q2 2011, as well as a slight down tick in revenue at $11.9 billion to $13.3 billion quarter to quarter. Well, the numbers are in and it looks like the forecast was right on the money. The Seattle-based outfit posted $7 million in net income for the quarter, a year over year loss amounting to a whopping 96 percent decrease. As for net sales, that picture's a bit rosier given the 29 percent increase over Q2 2011 that saw the Bezos-backed co. pull in $12.83 billion -- a figure that would have risen to 32 percent were it not for a $272 million hit due to "changes in foreign exchange rates[.]" Operating cash flow for Q2 2012 was down by nearly half at $107MM compared to the same segment last year.

    Unsurprisingly, the company's budget Kindle Fire tab -- which has enjoyed relatively weak competition up to now -- is still the number one item across Amazon's site, with titles in its Lending Library growing to over 170,000. Bezos also made note of Prime's growth, pegging that subscription offering's catalog of items at 15 million and highlighting the addition of 18,000 movies and TV shows to its streaming service.

    As for the future, the company expects Q3 net sales to grow by at least 19 percent year-over-year, landing somewhere between $12.9 billion and $14.3 billion, with a projected operating loss of $50 million to $350 million. Hit up the PR after the break for the full load of financial highs and lows.

    Continue reading Amazon Q2 2012 earnings: net income down 96 percent to $7 million, net sales up 29 percent to $12.83 billion

    Amazon Q2 2012 earnings: net income down 96 percent to $7 million, net sales up 29 percent to $12.83 billion originally appeared on Engadget on Thu, 26 Jul 2012 16:09:00 EDT. Please see our terms for use of feeds.

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