Hasta La Gadget!

You know you’re having a wacky quarter when it involves a resigning CEO, lawsuits, and rumors that one of your wholesale partners is courting your potential replacement. But can you still come out on top? Clearwire answered this question during yesterday’s Q1 2011 earnings report to investors, and the answer is just as intriguing as the quarter itself. Though it posted a substantial revenue of $242 million, the company was also inflicted with a net loss of $227 million. Don’t worry, it gets crazier — Clearwire experienced record subscriber growth, seeing an increase of 533 percent year-over-year from Q1 2010. Sounds like a contradiction, right? A few factors led to the loss, such as higher costs from network expansion and writing off the “abandonment of projects that no longer fit within management’s strategic network plans.” A loss is a loss, but at least the future looks brighter; Clearwire predicts it will end the year with nearly a million more subs than originally forecasted (9.5 million, up from 8.8). Saving the best news for last, CEO John Stanton announced his company is no longer feeling the pressure to sell off some of its spectrum, primarily due to its recent $1 billion deal with Sprint. The deal will add enough cash flow to sustain network operations for the next year, so Clearwire just needs to make sure it uses some of the extra cash to buy us all something pretty. The full press release can be found after the break.

Continue reading Clearwire posts Q1 loss amid record subscribers, decides not to sell spectrum after all

Clearwire posts Q1 loss amid record subscribers, decides not to sell spectrum after all originally appeared on Engadget on Thu, 05 May 2011 07:20:00 EDT. Please see our terms for use of feeds.

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Continue reading Microsoft announces record Q3 earnings: $16.43 billion revenue, $5.23 billion net income

Microsoft announces record Q3 earnings: $16.43 billion revenue, $5.23 billion net income originally appeared on Engadget on Thu, 28 Apr 2011 16:25:00 EDT. Please see our terms for use of feeds.

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AMD’s net income for the past quarter was $510 million, generated from $1.61 billion in total revenues. That should make happy reading for a company that’s been raising similar gross revenues previously but finding itself losing cash — though the more intriguing figures are a little deeper in its latest disclosure. CFO and interim CEO Thomas Seifert has noted that AMD “tripled” its Fusion APU shipments relative to last quarter — meaning that at least 3.9 million units have made their way out to OEM partners in Q1 — which now account for “roughly half” of the company’s notebook shipments. In less upbeat news, average selling prices in both the microprocessor and graphics divisions were down sequentially, with AMD having to react to pressure from its traditional foes Intel and NVIDIA. You might surmise that with the mainstream Llano APU out and shipping to computer makers, AMD might have a happier second quarter, but the company’s guidance is for revenues to be flat or slightly down. A final note of pride is reserved for the Radeon HD 6490M and HD 6750M GPUs, which figured prominently in Apple’s latest MacBook Pro refresh and mark a bit of a coup for AMD, who’s now responsible for all of Apple’s discrete graphics across the MacBook Pro and iMac computing lines. Click the links below for even more intel on Advanced Micro Devices.

Continue reading AMD collects half a billion in Q1 profit, Fusion APUs now account for half of its laptop shipments

AMD collects half a billion in Q1 profit, Fusion APUs now account for half of its laptop shipments originally appeared on Engadget on Fri, 22 Apr 2011 06:48:00 EDT. Please see our terms for use of feeds.

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Nokia has just published its first quarterly results in the era of its Microsoft partnership and things aren’t looking too bright. Smartphone market share, which had been at 41 percent this time last year and 31 percent in January, has now dipped to 26 percent, while operating profits have taken a 17 percent tumble relative to last year. The company managed to ship one percent more phones in Q1 2011 than in Q1 2010, but its 108.5 million units was an 18 percent drop from last quarter’s totals. CEO Stephen Elop describes the first quarter as solid, but warns that the second will be “more challenging.” The impact of Japan’s disaster earlier in the year will be felt more strongly in Q2, we’re warned, with respect to component supply and logistics, while new products won’t figure too strongly as Nokia intends to “start shipping the majority of our new products in the second half of the year.” Elop is, however, encouraged by the “roadmap of mobile phones and Symbian smartphones” that Nokia has in store for 2011, which sounds good on the surface, but we’d be more comforted if he’d have inserted the words “Windows Phone” or “MeeGo” in that sentence too. Hit the links below to see the full financial details.

Nokia’s Q1 2011: smartphone share down to 26 percent, ‘more challenging’ times ahead originally appeared on Engadget on Thu, 21 Apr 2011 06:15:00 EDT. Please see our terms for use of feeds.

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Apple just announced its earnings for the second quarter of the year, and it’s once again beat estimates, with it reporting earnings of $6.40 a share, a total of $24.67 billion in revenue, and a net profit of $5.99 billion. As for the sales breakdown everyone’s waiting for, Apple says it sold a whopping 18.6 million iPhones in the quarter (up 113 percent over the previous year, and ahead of estimates of 16 million), plus 4.69 million iPads (actually less than the expected 6.29 million, apparently due to supply issues), and 3.76 million Macs, which represents a 28 percent jump over the same quarter a year ago. Not surprisingly, iPods are the one area that continues to slow, with sales of 9.02 million representing a 17 percent decline over the previous year — the iPod touch accounted for more than half of those sales. One other big bright spot for the company is the Asia Pacific region, where it saw revenue grow a staggering 151 percent year-over-year.

Interestingly, Apple isn’t providing any specific sales numbers for the iPad 2 — it’s only saying that it sold every iPad 2 it could make in the quarter, and that it’s working hard to get it into the hands of customers as fast as it can. It didn’t add much more when pressed on the issue later during its earnings call either, with it only going as far as to say that the iPad has the “mother of all backlogs.”

Update: The company’s press release is after the break.

Continue reading Apple beats estimates with Q2 earnings: $24.67 billion revenue, $5.99 billion profit

Apple beats estimates with Q2 earnings: $24.67 billion revenue, $5.99 billion profit originally appeared on Engadget on Wed, 20 Apr 2011 16:35:00 EDT. Please see our terms for use of feeds.

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