Hasta La Gadget!

Yo Intel, when your 2008 fourth quarter was one of the worst you ever recorded, it’s slightly, just slightly, facetious to go trumpeting an 875 percent improvement in your 2009 fortunes. The self-appointed chipmaking rock star has clocked up $10.6 billion in revenues for the last quarter, which filters down to $2.3 billion in pure, unadulterated, mother-loving profit. That’s good and indeed technically nearly nine times what the company achieved in the same period the previous year — we’d just appreciate this to be represented as the recovery it is, rather than some major leap forward in the face of a global financial meltdown. Either way, the Santa Clara checkbook is now well and truly balanced, even if it would’ve looked fatter still but for the small matter of a $1.25 billion settlement reflected in last quarter’s results.

Intel profits recover to $2.3 billion in Q4 2009, company describes it as 875 percent jump originally appeared on Engadget on Fri, 15 Jan 2010 02:20:00 EST. Please see our terms for use of feeds.

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We don’t know just how quickly Palm (or Elevation Partners, for that matter) thought it’d become profitable following the release of webOS, but it’s not there quite yet — the company is in the process of outing its earnings for the second quarter of fiscal year 2010 right now, and in a word, they’re still in the red. The good news is that it’s a marked improvement from last quarter — they’ve gone from a $164.5M GAAP net loss to an $85.4M one this time around. On a non-GAAP gross basis, they actually made $5.5M, which is up from $2.8M a quarter earlier. They’ve got $590 million in cash and other “short-term investments” on the book right now, which seems like it should be enough to keep the company going without a profit or additional cash infusion for at least a few additional quarters, but then again, burn rate is going to vary with just how much hardware and software R&D they’re doing and the kinds of carrier deals they’re scoring. We bet they’re looking forward to this Verizon business going down, eh?

Update: Palm’s specifically saying that they’re looking to grow carrier and geographic coverage right now — a good plan, if we say so ourselves.

Update 2: They’ve sold 784,000 phones in the quarter, which compares to 823,000 in the last — a 5 percent drop. That’s up 41 percent from the same quarter a year ago… but yeah, of course it’s going to be way up from the pre-webOS days.

Update 3: Over 800 apps in the catalog so far, once they graduate from the Early Access Program exclusivity, Palm foresees a “flood” of apps. No plans right now to change SDK strategy to a more native development environment.

Palm loses $85.4 million in latest reported quarter — hey, it’s an improvement originally appeared on Engadget on Thu, 17 Dec 2009 16:55:00 EST. Please see our terms for use of feeds.

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Apple’s pretty famous for using subscription accounting for the iPhone and Apple TV as a way to bend the rules and offer free software updates after purchase — basically, instead of putting all the money from the sale on the books at once, the company’s accountants spread the revenue out over two years, extending the “transaction” to cover upgrades. That’s great for iPhone owners, but it’s not so great for Apple or its investors, since the company’s stock price doesn’t always reflect the true amount of iPhone money coming in — in fact, Apple earnings reports now include a second, unofficial balance sheet that does away with subscription accounting to show off the real numbers. Yeah, it’s confusing, but it might finally be about to change, since the Financial Accounting Standards Board just tentatively approved new rules that could allow Apple to do away with subscription accounting and still deliver free updates. That means Apple’s quarterly earnings will now feature much larger official revenue and profit figures — last quarter’s official revenue was $8.34 billion, while the unofficial number was $9.74 billion — the lawyers and accountants will be happy, and we’ll still get free iPhone updates. Good deal all around — except for iPod touch owners, who will still have to pay $9.95 and not get a camera.

[Via Yahoo]

Filed under: Misc. Gadgets

Apple pushes to change subscription accounting rules originally appeared on Engadget on Mon, 14 Sep 2009 18:58:00 EST. Please see our terms for use of feeds.

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Here’s the good news: Sony’s ¥98.9b ($1.03b) loss is slightly less than the $1.1b the company told us it would lose in January. Sadly, all of the other news is bad, starting with the fact that the company just lost a freaking billion dollars, its first loss in 14 years, and it’s predicting a similar $1.1b loss next year. Electronics sales were down 17 percent, the Sony-Ericsson phone partnership is struggling, and game division sales dropped 18 percent primarily due to Sony’s continued reliance on falling PS2 sales. As for the PS3, it’s actually a dim bright spot: hardware cost reductions and increased game sales slightly stemmed the tide, but Sony’s still expecting the division to lose money in the coming year. Sony also says it has “extensive measures” in store to try and turn things around after that, so we’re hoping Sir Howard’s plans to embrace open formats and listen to consumers are kicking into gear, but we’ll see.

Read – Sony financials [Warning: PDF]
Read – Reuters report
Read – MarketWatch

Filed under: Misc. Gadgets

Sony posts $1b loss, first in 14 years originally appeared on Engadget on Thu, 14 May 2009 11:23:00 EST. Please see our terms for use of feeds.

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