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Apple stock jumps on results, stock split

04/23/14 Summary: Apple's 7-for-1 stock split; Facebook profit triples; stocks break six-day winning streak; Boeing earnings beat forecasts; Amazon's HBO deal. Bobbi Rebell reports. ...Read More »

Have We Already Reached Peak IPad?

04/23/14 Apples latest earnings report was mostly good news for the company, but there was one potentially dark cloud: iPad sales. On the quarter, Apple sold 16.35 million iPads, which was below the consensus estimate of 19.7 million units sold . If theres any good news for the iPad in this, its that the year-over-year sales drop isnt as bad as it first looks. Analyst Jan Dawson points out that the “real year-over-year sell-through decline in iPad was just 3% vs. 16% sell-in decline.” ...Read More »

ITunes Now Has Nearly 800 Million Accounts, Most With Credit Cards Attached

04/23/14 In June of last year, Apple announced that over 575 million accounts had been created for iTunes. Just 10 months later, theyve grown that number by nearly fourty percent. On the Apple earnings call today, Tim Cook announced that they were just about to surpass their 800 millionth iTunes account. The crazy part? The vast majority of those accounts have credit cards attached to them. Thats nearly 800 million accounts with one-click purchase access on things like the App Store. ...Read More »
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Qualcomm Shields Profits As Chip Sales Slow

04/23/14 Qualcomm posted higher quarterly sales on Wednesday that nevertheless missed analysts forecasts. The industrys big concern may be finally hitting home, with a looming saturation of the market for smartphones in developed markets like the United States and Europe. One highlight for investors though: Qualcomm raised its earnings per share forecast for fiscal 2014, saying it expects non-GAAP, diluted earnings per share of $5.05 to $5.25. Though sales are up, growth is slowing. ...Read More »

Apple Posts Q2 Results: Profit Crushes Estimates, Revenue Climbs Despite Lack Of New Launches

04/23/14 Earnings season is now in full swing and as always, Apples are the most hotly anticipated results in the technology sector. This time around, however, its not because industry watchers want to see how impressive the companys most recent quarter was, but because the world wants to see how Apple is doing after not having released a notable new product since this past November. The company posted a profit of $11.62 per share on revenue totaling $45.6 billion, in line with Apples own revenue guidance of between $42 billion and $44 billion for the quarter. ...Read More »

Sony To Enter Real Estate Business: Nikkei

04/23/14 Sony will branch out into the real-estate business in August and plans to take the unit public in three years, the Nikkei reported. Sony recently set up a real-estate unit in Tokyo, with the aim of generating annual sales of 50 billion yen or ($488.4 million) in five years. The real-estate foray marks the first initiative of a new project team at Sony that specializes in creating new businesses and aims at developing more than 10 new businesses over the next three years. ...Read More »

Apple Expands Buybacks By $30 Billion, OKs Seven-for-one Stock Split

04/23/14 Apple Inc has approved another $30 billion in share buybacks till the end of 2015 and authorized a rarely seen seven-for-one stock split, addressing calls to share more of its cash hoard while broadening the stock's appeal to individual investors. On Wednesday, Apple reported a 4.6 percent rise in March-quarter revenue to $45.6 billion, beating Wall Street's projections after selling a sharply higher than expected 43.72 million iPhones. ...Read More »

Facebook 1Q Results Soar; CFO To Step Down

04/23/14 Facebook's first-quarter earnings and revenue grew sharply, surpassing Wall Street's expectations thanks to an 82 percent increase in advertising revenue. The social network said Wednesday that it earned $642 million, or 25 cents per share, in the January-March quarter, up from $219 million, or 9 cents per share, in the same period a year ago. Facebook says its revenue was $2.5 billion, up 71 percent from $1.46 billion in the same period a year ago. Additionally, Facebook says its finance chief, David Ebersman, is leaving on June 1 after five years. ...Read More »

Apple Increases Stock Buyback, Raises Dividend

04/23/14 Apple plans to buy back an additional $30 billion of its stock and raise its quarterly dividend by 8 percent amid a slowdown in revenue growth. The commitment announced Wednesday as part of Apple's fiscal second-quarter earnings report expands on the company's previous pledge to spend $60 billion on stock buybacks by the end of next year. The company is now earmarking $90 billion for buybacks during that time frame. The slowdown in revenue growth has prompted investors to wonder whether the company has lost its innovative power since the death of Steve Jobs. ...Read More »

Zynga Rallies On Q1 Revenue Of $168M, News That Founder Pincus Will Relinquish Operational Role

04/23/14 This afternoon following the bell, Zynga reported its calendar first quarter financial performance including revenue of $168 million, bookings of $161 million, and earnings per share of -$0.01. Analysts had expected the company to report top line of $164 million, and a single cent per-share loss. That revenue figure is a decline of 36% from the year ago quarter. The companys GAAP net loss of $61 in the quarter contrasts with a $4 million first quarter 2013 profit. ...Read More »

Facebook CFO David Ebersman Stepping Down Later This Year

04/23/14 On Wednesday, Facebook announced that Chief Financial Officer David Ebersman will be stepping down, with Vice President of Corporate Finance and Business Plannning David Wehner succeeding him on June 1. The announcement came as part of Facebooks first quarter earnings report. Ebersman joined Facebook from Genentech, where he was also CFO, about five years ago, taking the company through its initial public offering. In a press release, Ebersman said "This has been a tough decision because Facebook is such a great company and has such a bright future ahead, but Ive decided to move back into healthcare where I spent my career before Facebook." ...Read More »

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