Hasta La Gadget!

LG has released its earnings report for the first quarter of 2013, and while they were down overall from last year, there is good news to report for its phones. A net profit of $20.3 million is lower than Q1 2012’s $214 million — but better than Q4’s lawsuit-related $428 million loss — blamed on weaker earnings in its home theater business. The good news is reserved for phones, where sales were up 30 percent from last year thanks to devices like the Optimus G (original, Pro and Nexus 4) and L series. Home Entertainment sales dropped to their lowest level in the past year, blamed mostly on a decline in plasmas and professional displays. Q2 is expected to be another good one as the Optimus L Series II, 5.5-inch Optimus G Pro and Optimus F ship worldwide. According to LG its LCD sales were actually up thanks to growing demand in Europe and China, but profits took a hit because of increased competition. While it doesn’t expect the overall market to change, it is looking for better results in Q2 as its new Smart and 3D TVs hit shelves along with upcoming 4K and OLED sets. We’ll keep digging through the numbers for more details, check the source link below to take a look for yourself.

Filed under: Cellphones, Home Entertainment, HD, Mobile, LG

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Source: LG Korea, LG Q1 2013 earnings (PDF)

Netflix has reported its financial results for the first quarter of 2013, and in that period it’s added over 3 million customers worldwide. Domestically it added 2.03 million customers alone, pushing its total number over 30 million (including trial users) in the US. That means it’s passed HBO in paying subscribers for the first time ever, while notching $2.69 million in net profits on $1.02 billion in revenue for the quarter. Internationally there were over a million new sign-ups and it’s planning to launch in a new European market during the second half of this year, which we should hear more about on its Q2 earnings call in July.

One change all users will notice is to its package of streaming plans, as CEO Reed Hastings mentioned an $11.99 per month option is incoming that will allow subscribers to stream as many as four videos simultaneously, up from the current official limit of two. There’s some question over whether Netflix will begin to crack down harder on account sharing, but Hastings claims he expects less than one percent of users to opt for the new plan. The company is also continuing to test the personalized profiles we got a peek at during CES, and expects to roll them out “in the coming months.” Another major note is that as it expands its suite of original content, it’s shifting focus away from some of existing “bulk, nonexclusive” licensing deals and will let a major one from Viacom expire in May. Specifically referenced is content from Nickelodeon, MTV and BET, although it’s negotiating for access to particular shows. In the future, its preferred option will be exclusive deals with the studios that produce the shows, like the one it announced earlier this year with Warner. Check after the break for a few more details, including updates on the progress of some of its original series.

Filed under: Home Entertainment, HD

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Source: Netflix Q1 Investors letter (PDF)

Google’s out with its first quarter earnings this afternoon, and it’s reporting an even $14 billion in revenue, with net income clocking in at $3.35 billion. That’s a 31 percent increase year-over-year on the revenue side, and nearly a half billion dollar increase in net income (up from $2.89 in the same quarter of 2012). Compared to more recent quarters, though, the growth is a bit more flat: both Q3 and Q4 of 2012 were also around the $14 billion mark. In a statement, CEO Larry Page nonetheless characterized the numbers as a “very strong start to 2013,” adding that Google is “working hard and investing in our products that aim to improve billions of people’s lives all around the world.” As for how the company’s Motorola acquisition is working out, that division has seen a fairly steep drop in revenue, from $1.51 billion in the last quarter of 2012 to just over $1 billion this quarter, with it reporting an operating loss of $271 million. You can dig through all the numbers yourself in the press release after the break and at the source link below.

Filed under: Google

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Source: Google, Larry Page (Google+)

Nokia may have seen an operating loss in Q1 2013, but the news isn’t all bad. The company saw revenue of $7.7 billion and managed to sell 5.6 million Lumias, which equates to a 30 percent increase in handset sales over last quarter. As for earnings, Nokia put a shiny buff on them by trumpeting a net profit of $236 million using the non-IFRS accounting method. By stricter IFRS rules, it actually lost $150 million, but that still compares favorably to the vast billion dollar losses it made in the same quarter of 2012.

Of the Finnish outfit’s handset sales, North America accounted for a mere 400,000 out of the 61.9 million sold compared to the 700,000 it sold last quarter, making it the only region that saw a decline during the period. Other regions, like China, saw a large bump in smartphone revenues, largely due to the popularity of pricey handsets like the Lumia 920. CEO Stephen Elop said the company’s bullish on Lumia sales, considering the (rumored) Lumia 928 coming to Verizon, along with the recently launched Lumia 520, 620 and 720. He said that sales of other devices were a dark spot, however — so the company’s likely hoping all the new WP8 devices will offset those lost sales next quarter.

Filed under: Cellphones, Mobile, Nokia

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Source: Nokia

Right on the heels of its announcement of becoming the “UnCarrier”, T-Mobile has dropped an early update on customer count for Q1. While its full earnings won’t be announced until May 8th, it noted a net increase of 579,000 customers for the period, compared to a net loss of 349,000 in Q4 of 2012. It claims the increase was primarily due to continued focus on growing its MVNO customers base. Postpaid customer losses for Q1 are 199,000, far better than Q4’s drop of 515,000, and 510,000 in the same period last year. President and CEO John Legere is certainly looking at the bright side (and keeping his language clean this time) claiming the data represents “positive momentum and the first positive branded growth in four years.” We’ll wait until the dollars and cents are counted — and results from after its switch to no-contract plans and unsubsidized phone pricing are in — before flying the magenta victory flag.

Filed under: Cellphones, Mobile, T-Mobile

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Source: T-Mobile