China’s ZTE – the world’s fifth-largest telecoms equipment maker – has reported the steepest drop in net profits since the company went public six years ago. It blames slowing telecoms infrastructure spending, handset price wars and recession in western markets. ZTE’s net profits in the June quarter were down 85 per cent from a year […]
Struggling US electronics chain Best Buy has seen net profits plunge to just $12 million on revenues of $10.6 billion in the second quarter. Profits were $150 million in the same period a year earlier. The profit fall was exacerbated by a $91 million one-off charge, primarily related to cost of closing stores. Best Buy […]
Kudelski says stable revenues and a streamlined cost base drove first half 2012 Group results. Compared to prior periods, currency effects had a minor impact. Group revenues in constant currency declined by 1.8 per cent, while reported revenues dropped by 3 per cent compared to the first half of last year, reaching CHF 380.3 million. […]
Technology giant Cisco, the world’s largest maker of networking equipment, has increased its dividend after reporting better-than-expected results. The company said cost cutting helped fourth quarter net income to rise to $1.9 billion from $1.2 billion a year ago, on revenue up 4.4 per cent to $11.7 billion, despite difficulties in Europe. Cisco also said […]
Growth across Internet, phone and TV market has driven KDH revenues for the quarter up by 7.7 per cent to €444 million. In comparison, in the first quarter of last year, revenues grew by 5.8 per cent year on year. TV revenues increased by 3.5 per cent to €294 million year on year, while Internet […]
The news from Unterföhring, near Munich, home of Sky Deutschland, was much, much better than expected. CEO Brian Sullivan, fresh from his annual holiday, used the clever device of delivering better results than the market forecast, and the old corporate mantra of under-promising and over-delivering has worked well for him and his team. While the […]
Thailand’s satellite operator Thaicom has declared a profit for its H1 trading, and says that operating profits were Thai Baht 198 million (about $6.2 million) which almost matches a THB 192 million operating loss in the same period last year. Thaicom, once known as Shin Satellite, said the about-turn is almost entirely due to its […]
The consensus is that Sky Deutschland’s Q2 numbers, out August 14, will be solidly respectable and continue the gains of recent quarters. Investment banker Morgan Stanley reminds us that Q1’s numbers showed gross adds of 155,000 (net about 73,000) for the quarter-year, churn of some 10.8 per cent (annualised) and monthly ARPU of €31.76. For […]
AMC’s increasingly bitter carriage fee dispute with EchoStar’s Dish Network may lead to the broadcaster not showing its channels in the future. Giving credence to the argument were comments made by Dish’s boss Charlie Ergen saying that most Dish subscribers hadn’t noticed that AMC’s channels hadn’t been available. AMC’s channels, which include Sundance, AMC itself […]
Magyar Telekom has reported that Q2 net profit more than doubled from a year ago when it was hit with one-off legal fees, and flagged price rises and spending cuts for the second half to improve its underlying profitability. Net profit for the three-month period came in at €38 million, up from €15.6 million in […]