Earnings alert: Cell phone unit shores up Verizon
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Plus: Gateway trims loss in third quarter...EDS delays earnings...Amazon outlook disappoints...PeopleSoft exceeds targets.
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Plus: AT&T profit rises...Samsung SDI swings to loss...Outstanding earnings for Apple...Xerox profits from color printers.
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Verizon Communications Inc. may be getting into the wireless consolidation game with published reports indicating that the telecommunications provider, which controls 55 percent of No.
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Nextel Communications Inc., the sixth largest US mobile company, on Friday said its third-quarter profit rose amid strong customer growth and it raised its earnings forecast for the full year.
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Verizon Communications Inc. earned &#36;3.04 billion in the fourth quarter, posting a 6 percent revenue gain as another powerful showing by the cellular business more than compensated for the continuing decline of traditional local phone service.
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Motorola Inc  on Thursday posted third-quarter earnings above Wall Street estimates and forecast a profit for the fourth quarter, raising expectations the mobile handset maker had begun to turn its business around.
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Rise in Q3 income bolstered by BellSouth acquisition and iPhone.
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Plus: Phone sales boost Nokia profits past forecasts...eBay posts large quarterly loss on Skype write-down...IBM services buoy earnings...Yahoo net profit falls...Samsung posts strong quarter.
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Telecommunications giants AT&T Inc.   and Verizon Communications Inc.  are expected to  report solid second-quarter earnings, buoyed by growth in  wireless and Internet subscribers.
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Verizon Communications  said on  Monday its quarterly profit rose and its wireless customer  additions were ahead of analyst estimates.
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Robust demand for cheaper phones lifted third-quarter earnings and the better than expected results sent the companyâs shares sharply higher.
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Texas Instruments Inc. ,  the biggest maker of chips for cellphones, on Monday posted a  27 percent rise in quarterly earnings due to strong handset  demand and affirmed market expectations that growth would  continue to be robust.
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Earnings season is in full swing, and results this week from bellwethers like Google, Intel, and Nokia are fueling hopes for a strong fourth quarter while confirming the investor confidence that has led to a rebound in share prices of technology vendors.All eyes were on&#160;Google, which Thursday reported another stellar quarter. For the third quarter, net income was $1.07 billion compared with $733.4 million a year ago. Revenue leaped 57 percent to $4.23 billion. The company has made some investors nervous by expanding rapidly and spending a lot of money on acquisitions to fuel growth in new areas. However, its core search business manages to ward off the competition. Google shares jumped $6.14 to $639.62 right after its announcement.Google archrival&#160;Yahoo reported a 4.6 percent decline in third-quarter profit&#160;compared to a year ago Tuesday, but revenue climbed 12 percent to $1.76 billion. Company executives said they were weeding out poorly performing services and enhancing efforts in promising areas&#160;like ad-supported music services and e-mail offerings to small businesses. The company is also expanding efforts to support third-party developers with open APIs.Even though Yahoo has been blasted for its failure to steal search ad revenue from Google, investors and analysts appear to like its strategy. Citigroup maintained a &quot;buy&quot; rating on the company while RBC maintained an &quot;outperform&quot; rating. Yahoo shares jumped $2.13 to close at $28.82 the day after the report.The market might be tougher on Internet retailers. eBay reported Wednesday that revenue climbed 30 percent but that it suffered a loss because of a $1.39 billion charge for&#160;its acquisition of Internet phone pioneer Skype. Although the company raised its 2007 revenue target, investors apparently did not like the charge for Skype, which failed to make revenue goals. Shares of eBay lost $2.50 to close at $38.10 Thursday.In one of the most-anticipated results of the week,&#160;Intel got the earnings season off to a good start Tuesday, reporting revenue of $10.1 billion, a 15 percent increase year-over-year, while achieving net income of $1.9 billion, a whopping 43 percent increase. The price competition in the market is tough, but a jump in sales and a restructuring effort appears to be paying off. Intel jumped $1.24 to close at $26.72 the day after the report.AMD did not handle the price competition so well, however. Though it registered a 23 percent rise in sales, it posted another loss. Thursday,&#160;AMD reported that its net loss was $396 million, compared with a profit of $136 million in 2006.Reaction to IBM results were mixed Tuesday, when&#160;it reported profit of $2.36 billion, compared to $2.22 billion a year ago. Revenue was $24.1 billion, a 7 percent increase from last year. Though the numbers were better than expected, a disappointing 10 percent slip in hardware sales worried investors, who pushed down IBM shares Tuesday by $3.82 to close at $115.78.Nokia managed to offset declining prices of handsets with a jump in sales. Thursday it said that for the three months ending Sept. 30, net profit increased 85 percent over the third quarter of 2006, while sales rose 28 percent. Nokia shares closed Thursday at $37.64, up by $1.11.Concerns about the U.S. economy -- because of a declining housing market and an increase in mortgage defaults -- caused shares to tumble in July and August. But judging from results this week, IT vendors were not hard hit during the quarter and investors are likely to have high expectations for the rest of the year.
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Verizon Communications posted net income of $4.2 billion for the third quarter, up 19 percent from a year ago, driven largely by new wireless and fiber broadband customers, the company said Monday.The company added 1.6 million wireless customers and 229,000 new&#160;Fios fiber-based broadband&#160;customers, Verizon said. The company&#39;s Verizon Wireless subsidiary now has 63.7 million customers, and Verizon now has 1.3 million Fios broadband customers since launching the service in early 2005.Verizon reported total revenue of $23.8 billion, up 5.8 percent from the third quarter of 2006. Verizon&#39;s earnings per share, however, fell from $0.53 a year ago to $0.44 this quarter.Verizon&#39;s quarterly results show the company has &quot;hit its stride&quot; in offering wireless, broadband, and telecommunication services to large businesses, Chairman and CEO Ivan Seidenberg said in a statement.Among the highlights was an all-time high for Verizon wireless on average monthly revenue per customer, Verizon said. The average for retail voice service was $52.17 per customer, up 1.9 percent over a year ago.In addition to the customer gains for Fios broadband service, the company also added 202,000 Fios television customers, bringing the total number of Fios TV customers to 717,000. Verizon added 285,000 new broadband connections, including Fios and DSL (Digital Subscriber Line). Verizon now has 8 million broadband connections, up 21.3 percent over last year.Fios is available to 6.5 million U.S. residences.But total wireline revenue was down 0.8 percent from last year at $12.7 billion this quarter.Independent telecom analyst Jeff Kagan said Verizon&#39;s Fios push is beginning to pay off. Verizon is headed in the right direction, he said.&quot;It has taken a long time and cost a lot of money for Verizon to get to where they are today with their television and Internet,&quot; Kagan said. &quot;However, now that they are beginning to deliver on the Fios promise, the customers seem to be welcoming the offering.&quot;The now ready telecom-based television services are pumping new life into the telecom carriers, after cable TV companies beat them to the punch by offering voice service before telecoms received regulatory approval to offer TV service, Kagan said.&quot;All of a sudden that dynamic is shifting,&quot; he said. &quot;Suddenly telephone companies like Verizon and AT&amp;T are doing very well as cable television companies are struggling with their sagging stock price.&quot;
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NEW YORK -- Verizon Communications Inc., the nation's second largest telecommunications company, on Monday reported a 3.9 percent rise in fourth-quarter earnings on steady but moderate growth in its core operations.
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Blog: Verizon Wireless is getting into the mobile payments with a deal with Obopay.
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Plus: Salesforce quarterly revenue rises...Write-downs widen DirecTV's loss...Time Warner net income slips...Cell phone unit shores up Verizon.