Hasta La Gadget!

It has not been a good year for Sony, which was affected both by the massive earthquake in March and the PSN outage that spanned from April into May. There couldn’t be any doubt that those things would have a drastic impact on the company’s bottom-line, and it’s now taking the time to give investors an idea of just how big an impact that could be — even though the financial issues lie largely elsewhere. Sony is set to announce its full financial report for its fiscal year this Thursday and, to soften the blow, estimates have been revised steeply downward. Previously Sony predicted a ¥70 billion ($855 million) profit, but now thinks a ¥260 billion ($3.14 billion) loss is rather more accurate — a ¥360 billion non-cash charge taking the wind out of ¥200 billion in operating income.

The earthquake was directly blamed for a loss of ¥22 billion, but that figure could certainly grow as this estimate is only through the end of March. Additionally, Sony has provided a early guess of a ¥14 billion (about $172 million) total cost for the PSN breach. That’s less than two bucks per exposed account, but again we wouldn’t be surprised if it’s a figure that increases through the year. You know, once the lawyers start having their fun.

Sony estimates $3.2b loss this year, $171 million cost for PSN breach originally appeared on Engadget on Mon, 23 May 2011 08:26:00 EDT. Please see our terms for use of feeds.

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It’s financials time and the word hasn’t always been rosy for Sprint of late, but this time the company has some good news to share. In this, the first quarter of 2011, Sprint added 1.1 million total subscribers, 846,000 of those were prepaid, the other 310,000 postpaid. Churn was down too, 4.36 for prepaid and 1.81 percent for postpaid, lowest in five years for the former and lowest ever for the latter. Operating income was $259 million on $8.3 billion in revenue, which is up three percent from this time last year, but factor in taxes, lunar landing rights, and all the other fun stuff and the company posted a net loss of $439 million. CEO Dan Hesse called this “slow but steady progress,” and the addition of subscribers “a tough streak to keep going as the bar keeps getting higher.” A tough streak indeed, but the launch of phones like the Nexus S 4G might just help keep it alive for another quarter.

Sprint reports Q1 2011 results, adds 1.1 million subscribers originally appeared on Engadget on Fri, 29 Apr 2011 09:33:00 EDT. Please see our terms for use of feeds.

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Motorola’s just finished giving the news and the numbers on its quarterly financial report, and there was one bit of badness that we just had to share: the Xoom LTE upgrade has been delayed. We won’t be seeing it until summer according to Motorola CEO Sanjay Jha, which is also when we’ll be seeing the Bionic, a delay that we were already sulking about. Jha was a little vague about what the “issue” was that is causing the delay, only that whatever quality concern there is applies to both devices, and it could simply be that the company is waiting for its LTE rollout to get a little further along. Net result: one less G for Xoom owners until the summer, and no Bionic at all until then. Bummer.

In terms of the numbers: Motorola says that it shipped over 250,000 Xooms in the first quarter of the year, and managed net revenues of $3 billion. That’s up 22 percent from this time last year, which brought losses down to $.27 per share — much nicer than the $.72 in Q1 2010. Mobile device revenues were up 30 percent and 9.1 million total mobile devices were sold, of those almost half (4.1 million) were smartphones.

Motorola Xoom LTE update delayed until summer, same time as Bionic launch originally appeared on Engadget on Thu, 28 Apr 2011 19:31:00 EDT. Please see our terms for use of feeds.

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It’s a “good news, bad news” kind of a day in Super Mario land, as Nintendo’s announcement of a Wii successor has been followed up with the delivery of the company’s financial results for fiscal year 2010, which don’t make for happy reading. Nintendo’s net sales of $12.4 billion for the period ending on March 31st 2011 was 29 percent less than it tallied during the previous year, while its $825 million of net profit was also a staggering 66 percent lower than it earned last year. The 3DS has sold well so far, reaching 3.61 million transactions worldwide, but the Wii is down to 15 million global sales, which marks a 25 percent contraction from its FY2009 total of 20 million. So the impetus for a hardware refresh of the Wii is clearly there, now it’s just a matter of waiting for E3 to find out exactly how Nintendo plans to go about it.

Nintendo sells 3.61 million 3DS handhelds, but sees 2010 net profit decline by 66 percent originally appeared on Engadget on Mon, 25 Apr 2011 04:53:00 EDT. Please see our terms for use of feeds.

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Yesterday was AT&T’s turn, and today it’s Verizon revealing its earnings for the first quarter of 2011. The company has reported $27 billion in consolidated revenue from its wireless and wireline businesses, which is up 5.3 percent year over year (on a non-GAAP basis), while profits rose to $1.4 billion. Fueling that growth was 1.8 million net additions to its wireless customer base, which now totals 88.4 million customers (and 104 million connections). It also saw 207,000 net additions to its FiOS internet business and 192,000 net additions to FiOS TV, which bring those total customer bases to 4.3 million and 3.7 million, respectively. As for that little iPhone 4 launch, Verizon says it’s resulted in 2.2 million activations — that’s quite a bit less that AT&T’s 3.6 million iPhone activations for the same quarter, as you’ve no doubt noticed, although it does also have the benefit of a much cheaper iPhone 3GS in addition to the iPhone 4. Verizon also said that demand was “strong” for its new LTE devices (including 260,000 HTC Thunderbolt activations), and that deployment of its LTE network remains on track, with it expected to be available in more than 175 markets by the end of the year — in fact, that’s actually up a bit from the 147 figure we last heard. Head on past the break for the company’s full earnings report.

Continue reading Verizon reports ‘strong’ Q1 earnings: $27 billion revenue, 2.2 million iPhone activations

Verizon reports ‘strong’ Q1 earnings: $27 billion revenue, 2.2 million iPhone activations originally appeared on Engadget on Thu, 21 Apr 2011 10:27:00 EDT. Please see our terms for use of feeds.

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