GOOG Q3 2014 earnings a miss, stock down in after hours trading

 

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Google reported Q3 2014 earnings today that didn’t quite meet analyst expectations. Sales rose 20% to $16.52 billion in the quarter. Profit was $6.35 a share. Analysts’ expectations were $16.59 billion and profit of $6.54 a share.

“Google had another strong performance this quarter, with revenue up 20% year on year, at $16.5 billion,” said Patrick Pichette, CFO of Google.  “We continue to be excited about the growth in our advertising and emerging businesses.”

It will be interesting to see what Google has to say for themselves when they talk earnings at 4:30.

The call will be live, above.

Press release follows: Read more

Samsung warns Q3 profits will again miss analyst expectations, blames imploding smartphone margins

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Samsung on Monday night issued a statement warning that its third-quarter earnings would be considerably weaker than it initially expected. The South Korean company stated that it expects a third quarter operating profit of 4.1 trillion won, or $3.8 billion, and sales of 47 trillion won. Both of these numbers are below Reuters’ forecasts of 5.6 trillion won in operating profit and 50.9 trillion in sales (via CNBC).

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Samsung hints at upcoming smartphones including one w/ “new materials”

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During its earnings call with investors where Samsung announced a 31 percent drop for its profits in its mobile division, the company also slipped in a small announcement about upcoming smartphones to reassure investors going into the next quarter. As noted by The Wall Street Journal, Samsung executive Kim Hyun-Joon told investors that the company would launch a new model with a large screen and another that will be made with “new materials.” Read more

HTC posts $41.63 million in profit for Q2, down 83% over last year

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Following Samsung’s monster profits from yesterday, HTC has now released its unaudited results for Q2 2013 (via TechCrunch). The company reported total revenues of $2.35 billion (NT$70.7 billion) and profits of just $1.63 million (NT$1.25 billion). While the profit is up over the NT$85 million it reported in Q1 2013, it’s still lower than analysts expected and down 83% year over year.

Many were expecting HTC to have a good quarter, as its One flagship is finally available on three major United States carriers and the device was well-received by critics. Sales in May for HTC were up 48.03%, but things nose dived in June, falling 23.88% month-on-month and 26.43% year-on-year.

HTC had hoped that a unified line-up of devices could help it better compete with Samsung, who posted over $8 billion in profit for Q2, but it looks like the struggles for the Taiwanese company are deeper than we thought.  Read more

Samsung estimates record profit of $8.3 billion in Q2

SAMSUNG CSC

Samsung has released its estimated earnings for Q2 2013, with a full announcement scheduled for later this month. The company estimates profits of $8.33 billion (9.5 trillion won), up nearly $2 billion over Q1’s $6.4 billion profit.

Reuters reports, however that this number was less than the 10.16 trillion won South Korean Analysts were expecting, which they blame on slowed momentum in Samsung’s smartphone division.

“The slowdown in its handset business appears to be worse than expected and the disappointing result simply reindorses the market view that Samsung’s smartphone growth momentum is slowing,” said Lee Sei-chul, an analyst at Meritz Securities.

Samsung’s component division, however, showed solid growth in Q2.

“But it’s got the component side of the business, which is showing solid improvements, and new handset product lineups for the third quarter, so (overall) earnings are likely to grow again in the current quarter.”

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Google announces Q1 2013 earnings: $13.97 billion revenue, up 31% year-on-year

via nytimes.com

via nytimes.com

Google released its earnings report from Q1 2013 today.

Notably, Google’s consolidated revenues increased 31% over Q1 2013 with $14 billion gross income.

“We had a very strong start to 2013, with $14.0 billion in revenue, up 31% year-on-year,” said Larry Page, CEO of Google. “We are working hard and investing in our products that aim to improve billions of people’s lives all around the world.”

Google reported $3.35 billion net revenue, which is nearly half a billion up from $2.89 billion during the same quarter last year.

The company reports $50 billion in the back at the end of Q1 2013.

Cash – As of March 31, 2013, cash, cash equivalents, and marketable securities were $50.1 billion.

The company’s effective tax rate came in low at 8% following a tax credit mandated by legislature in Congress.

Income Taxes – Our effective tax rate was 8% for the first quarter of 2013.

Google CEO Larry Page mentioned during the conference call to investors that the company’s opportunities primarily exist in Chrome, YouTube, and Android, in that order. It believes more “connected TV’s” will allow the company to directly connect with consumers via relevant advertising more easily.

The company had praise for its marketing team, citing doubling its retail foot print thanks to more availability of its Chromebook in Best Buy.

Google discussed its success with commercial advertising via YouTube, announcing 325,000 Super Bowls worth of ads have been consumed.

When asked about Andy Rubin’s responsibilities after being pulled from heading Android, Larry Page reiterated that the company has yet to make that announcement and had no plans to make news in that regard today.

Regarding Glass, Larry Page admitted the price tag for early adopters is certainly high, but stepped short of calling it a luxury price and stated the company wasn’t prepared to announce a consumer price tag.

Press release below:

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Report: Samsung and Apple dominate Q4 with 51 percent of global smartphone market

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Q4 2012 estimates from Strategy Analytics

While Samsung has conveniently left specific smartphone sales numbers out of its Q4 earnings release yesterday (as usual), today we get a look at the latest estimates for the quarter coming from research firms Strategy Analytics and IDC.

We know that Apple sold 47.8 million iPhones during the quarter, and today both research firms put Samsung just over 63 million units for Q4 2012. That means Samsung was able to capture 29 percent of the market last quarter (up from 36.2 million units and 22.5-percent of the market in the year ago quarter). Apple is of course a close second among the top five smartphone vendors with 21.8-percent—down slightly from the 23 percent it held in the same quarter last year. In Q4 2011, Apple and Samsung were neck and neck at about 23 percent of the market each.

The increasing market share for Apple, and especially Samsung, over the past year comes at the expense of Nokia. It experienced a drop from 16 percent to 5 percent of the market during the past year.  Read more

HTC’s fourth-quarter earnings disappoint as smartphone competition heats up


Source: HTC

HTC posted unaudited consolidated results for the fourth quarter of 2011 this morning. The numbers do not look good for Asia’s second-largest handset maker as net income fell 26 percent annually to $11 billion in New Taiwan currency, or approximately $364 million USD – its first quarterly profit decline in two years. Revenue for the quarter was NT$101,419 million, a 2.49 percent annual decline.

Unaudited operating income reached NT$12.98 billion, but net income after tax was NT$11.02 billion, which is slightly behind the NT$11.6 billion expected by 11 analysts polled by Bloomberg.

Shares fell 4.2 percent to a three-week low of NT$462 in Taipei trading as Citigroup cut both the 2012 and 2013 earnings estimates for the company by 19 percent each. Citigroup explained its decision with the expected market share losses to Apple and Samsung. Surely, the writing has been on the wall for HTC for some time (here and here). More information and another chart are featured right after the break.

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Google Q3 earnings live blog

(Update: Over, check it out after the break) Starting at 4:30 ET, Google will be hosting their quarterly earnings call to discuss Q3 earnings with investors. We’ll be updating below when the call starts, or you can listen in here. Stay tuned!

Larry Page, Patrick Pichette, Nikesh Arora, and Susan Wojcicki will be hosting the call — starting in just a few minutes.

Follow along after the break:

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HTC reports soaring third-quarter profits, revenues

Taiwanese smartphone maker HTC reported unaudited third quarter earnings. The numbers don’t disappoint and follow their equally successful June quarter sales trends when the company doubled profits on sales of 12.1 million smartphones. For the three-month period, HTC’s profits and revenues almost doubled year over year, buoyed on their extensive lineup of the recently released Android handsets.

Unaudited net profit topped T$11.1 billion, or about $360 million, an increase over the T$5.695 billion a year earlier. Operating income climbed to NT$20.2 billion in the third quarter and earnings per share were NT$22.03. Revenue for the quarter was NT$135.8 billion, an eighty percent sequential increase.

Going forward, HTC is expected to benefit from the ongoing interest surrounding the Android platform and a new cloud services model stemming from their acquisition of Dashwire. HTC is ranked the fourth smartphone maker globally and was the leading Android vendor and the second-best smartphone maker in the United States last quarter.

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Whoa, HTC ships 12.1 million phones, doubles profits in the second quarter

HTC reported second-quarter earnings today and just briefly glancing at numbers was enough to realize why they’re the #2 smartphone vendor in the US. Per their statement, HTC grew its revenues by 104 percent from the year-ago quarter and shipped 12.1 million phones during the June quarter. The company reported revenues of  NT$12.4 billion, or approximately $4.3 billion, a 19 percent sequential increase. Net income for the quarter topped NT$17.52, more than double from NT$60.96 billion in the year-ago quarter (and an 18 percent sequential jump).

The 12.1 million phones shipped include devices powered by Microsoft’s and Google’s software and amount to a 25 percent and 24 percent sequential and annual jump in terms of units, respectively. Looking at the third quarter, HTC is modeling for a 10 percent quarterly increase and a 90 percent annual jump based on shipments of an estimated 13.5 million phones.

New phone shipped in the quarter include the HTC Sensation, EVO 3D, Wildfire S, ChaCha, Salsa and Flyer. The average selling price dropped from $359 in the previous quarter down to $349 because they brought new inexpensive handsets to the market. Much of HTC’s growth came from Europe, Asia and the United States, where Nielsen ranks them as the second-largest smartphone maker. The achievement is even more impressive taking into account that Apple is now the world’s leading smartphone maker and controls two-thirds of total operating profits in the handset business.

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