Online streaming company Netflix saw its share price fall back more than 25 per cent in late trading October 24th. Netflix revealed that its subscriber cancellations were greater than expected, and that launching in the UK would take it into losses. CEO Reed Hastings, in a letter to shareholders that accompanied its Q3 results, admitted […]
AT&T, the largest US telecommunications group by revenues, reported third-quarter earnings in line with most expectations. Net income fell to $3.62 billion for the July to September period, down from $12.3 billion a year ago when the figures were boosted by a $8.3 billion one-time gain related to the sale of a subsidiary and a […]
Pace has issued a statement giving an update on the effect of Western Digital’s Thailand factory closure and 2011 Operating profit guidance: “Following the recent announcement by Western Digital Corporation that it has suspended production of hard disk drives at its manufacturing facilities in Thailand as a result of severe flooding, Pace has completed an […]
In the quarter to September 30th BSkyB has posted revenue up 9 per cent to £1.66 billion (€1.89bn) and operating profit up 16 per cent year on year to £295 million. But while it added 77,000 net new customers in total and sold 683,000 additional ‘products’ the net of new pay-TV subs was just 26,000 […]
Modern Times Group(MTG) has published its financial results for the third quarter ended 30 September 2011. Net sales were up 4 per cent year on year at constant exchange rates to SEK 3,106 million and operating income before associated company income was up 6 per cent year on year to SEK 358 million, with an […]
India’s Zee Entertainment Enterprises Ltd (ZEEL), the Essel Group-backed broadcasting powerhouse, saw its net profits rise 26.65 per cent in the quarter to September 30th. Revenues, however, were flat with growth of just 0.95 per cent with poor advertising blamed. Ad-revenues were down 4.2 per cent, but overall the company saved 2.3 per cent by […]
Nomura Securities are predicting that BSkyB’s summer subscriber net additions will tumble, down about 84 per cent from last year’s 96,000 to only about 15,000. The true position will emerge on Wednesday (October 19th) when Sky’s results for the quarter-year to September 30th are announced. Laurie Davison and Mark Braley at Deutsche Bank, in their […]
Revenues at Google jumped by a third to $9.7 billion in the three months to 30 September, as net profits grew more than a quarter to $2.7 billion. The figures beat analyst expectations and allayed fears that Google’s recent hiring spree would take its toll on profits. The company took on 2,585 new staff in […]
Netflix has admitted the price hikes announced this summer have hit subs harder than it predicted. It said it now expects to have 24 million domestic subscribers at the end of the third quarter, below its earlier expectation of 25 million and the 24.6 million US customers it had at the end of the second […]
Cisco Systems has more than halved its revenue forecast amid slowing economic growth and increased competition. Cisco said annual revenues would increase by between 5-7 per cent over the next three years, down from a previous target of 12-17 per cent. But it maintained profits would rise by 7-9 per cent during the same period. […]