While there was nothing especially glowing about BlackBerry’s fiscal third-quarter results, the company’s losses were less than analysts had expected. Shares of BlackBerry spiked 10 percent in pre-market trading Friday immediately after the Canadian OEM reported narrowing losses of $89 million, or 17 cents a share. That’s down annually from $148 million, or 28 cents a […]
Report: Hon Hai May Spinoff Foxconn Division
The manufacturer behind Apple’s iPhone, Hon Hai, may spin off its Foxconn divsion. According to Reuters, which cited a report from IFR, Hon Hai Precision may execute on the Foxconn spin off with a $1.5 billion public offering. The listing is slated for the second quarter of 2016. Funds generated from the offering would be […]
Qualcomm Board Votes Against Major Restructuring
Chip maker Qualcomm has decided to stay the course and forego a major restructuring. Following an extensive review, Qualcomm’s board recommended unanimously that the company’s current corporate and financial structure “best positions Qualcomm to maintain its technology leadership and product strength, so as to drive the greatest long-term stockholder value.” Steve Mollenkopf, CEO of Qualcomm […]
Nokia Completes Sale of HERE Mapping Unit
Nokia expects the sale of its HERE mapping division to close tomorrow. According to a press release, Nokia said that with all regulatory approvals in hand, it now expects to complete the sale of HERE to a consortium of automotive companies, comprising AUDI AG, BMW Group and Daimler AG, ahead of schedule on December 4, […]
Analyst: AT&T’s Wireless Capex Could Be Down 21% This Year
AT&T’s wireless spend may take more of a hit than previously expected. Investment and research firm Evercore estimates AT&T’s wireless capex will finish the year down 21 percent, according to a report from Seeking Alpha. That number is down from Evercore’s previous estimate, which came after AT&T’s John Stephens announced last year that he expected capex […]
Best Buy 3Q Revenue Stung by Declining Tablets, Phones
While Best Buy might have beat on profits, the electronics retailer saw sales drop in the third quarter. Best Buy saw enterprise revenue drop from $9.03 billion in the company’s fiscal third quarter to $8,819 billion in the most recent fiscal third quarter. Meanwhile GAAP diluted earnings per share was up from $0.33 in the […]
Sierra Wireless Plummets 28% on 3Q Report
Sierra Wireless on Thursday reported third-quarter numbers that came in below the company’s forecast, and investors bailed on the company. “We delivered solid year-over-year growth in revenue and operating profit in the third quarter of 2015,” said Jason Cohenour, President and CEO of Sierra Wireless, in a statement. “While our Q3 results were solid, revenue […]
Amdocs’ New NFV Solution All About Agility
Justin Paul, head of marketing for Amdocs’ OSS division, says that cost-savings are inherent in the shift to Software Defined Networks (SDN) and Network Functions Virtualization (NFV). That said, he’s pitching Amdocs’ recently launched Service Design and Create (SDC) NFV platform as a path to agility for service providers. Paul said that service providers […]
Facebook 3Q Beats Street as Active Mobile Users Climb
People continued to ‘like’ Facebook in the third quarter, as the company Wednesday reported that it has chalked up 1.55 billion total users. On top of the third-quarter subscriber growth, the social networking giant beat expectations, reporting $0.57 earnings per share (EPS) on $4.5 billion in revenue. Analysts had estimated Facebook would hit $0.52 EPS on […]
Redbox Parent Company Diversifies with Gazelle Buy
Movie rental kiosk operator Redbox is looking to diversify. Redbox parent company Outerwall revealed that it has purchased mobile phone re-purchaser Gazelle, according to Techcrunch and confirmed by the company. The acquisition was made official on October 29. Outerwall has agreed to buy certain assets and liabilities of Gazelle for approximately $18 million. The deal […]