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Business, Financial & Legal Posts - Page 101

Samsung estimated to rake in record $9.4 billion profit this quarter

Samsung has teased the world with its earnings estimates for Q3 2013, where it looks like the South Korean giant will break records, again. Samsung is looking to report $53.9 billion in total revenue, with an operating profit of around $9.4 billion.

 

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This is extremely good for the company, as it represents an increase from its $8.5 billion from its last quarter, and $51 billion in sales. When compared to its results from this time last year, it's a much bigger increase from the $48.5 billion in sales and $7.5 billion in profits. This represents an increase of 13% year-over-year.

Apple to power up Siri with its acquisition of Cue

It looks like Apple is wanting to strengthen its voice assistant, Siri, with its acquisition of Cue. Cue is a personal assistant application that has been an iOS exclusive.

 

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AppleInsider reports that Cue's functionality is similar to the sort of predictive information delivery that is very similar to Google Now, which is incredible. Apple has always put continuous work into Siri, but it looks like this acquisition of Cue could help them better compete with Google and its incredible Now service.

Twitter is looking to raise $1 billion with its IPO

Twitter is closer to its IPO, pushing out its IPO filing with the United States Securities and Exchange Commission. The social network filed an S-1 behind closed doors earlier in the year, as they were able to do so because Twitter's annual revenue was less than $1 billion last year.

 

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Now that Twitter's S-1 in public, we can find out what its financials are ahead of its IPO. The social network is looking to raise $1 billion, which will be underwritten by Goldman Sachs, Morgan Stanley and a bunch of other banks. Twitter will share its trade under the ticker TWTR.

HTC's Q3 2013 sees $101 million operating loss

We know HTC aren't doing well, but it looks like the problem it is going through is continuing. The Taiwanese manufacturer has posted up its preliminary unaudited financial results for Q3 2013, posting an operating loss of $101 million.

 

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This is the first operating loss in HTC's history, but take a look at the break down in its Q3 2013 financials:

 

  • Total revenues of $1.6 billion (NT$47.05 billion)
  • Operating loss before tax of $119.4 million (NT$3.50 billion)
  • Operating loss after tax of $101.3 million (NT$2.97 billion)
  • Earnings per share after tax of -$0.12 (-NT$3.58)

Runnable say it wants to be the YouTube of shared code

A new startup is looking to be the defacto place coders and developers visit to search for existing code examples. The brainchild of Yash Kumar, a former software engineer at Amazon, has launched a new company called Runnable. The startup is dedicated to making all of the open source code, and existing code examples easily findable.

 

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The company has launched a website that aggregates APIs, scripts, and other reusable bits of code, which is said to greatly speed up the research and discovery process. Runnable says its users can search for specific code or APIs, upload and share their own code, and even search code by the language it was written in. Basically if you are a fan of 3D printing, Runnable is very much like Thingiverse.

Apple's $147 billion cash pile totals 10% of total US corporate cash

Apple currently enjoys swimming through its $147 billion pile of cash, with Moody estimating that Apple's massive pile of cash represents around 10% of the $1.48 trillion in cash held by non-financial American companies.

 

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This is a huge number, something that should make your head spin. Apple's cash reserves have actually grown since the end of last year, by around 9.5%. Apple has been spending billions of dollars in the meantime, with its cash pile still nearly double that of Microsoft's.

BlackBerry layoff costs skyrocket, will cost over $400 million

BlackBerry continue to hurt, even after it announces it is retreating out of the consumer handset market. It is being reported that the 4,500 layoffs the Canadian phone maker is doing, will cost them $400 million.

 

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This is four times the initial estimates, something we're finding out thanks to the regulatory filing that BlackBerry filed last week. The company also says that it "plans to unload factories, manufacturing gear and property." This all sounds like BlackBerry landed on Mayfair loaded with a hotel, and is now mortgaging everything it's got to not just sink.

 

BlackBerry reported last week its second quarter earnings, which saw a 49% year-over-year drop in revenues.

Google acquires startup company Flutter, who work on gesture tech

Before today, you probably haven't heard of Flutter, who are a startup company working on gesture recognition technology. Well, neither did I, but the startup has been acquired by Google.

 

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Flutter's gesture recognition technology focused on getting it working with a standard camera interface, such as webcams. Currently, Flutter only ships a Windows and Mac app, with this software continuing to work even though it has been acquired by Google. Google must see a future in the company, hence the acquisition that might help it with its future in gesture technology.

Bitcoin prices head south after news of Silk Road seizure spreads

Anyone who has been following the Bitcoin saga, will likely have ran across reports that the virtual currency is fueling the online drug trade. For anyone who doubted this, today's seizure of Silk Road proves just how closely connected the two really were. Reports suggest as much as $1 billion of Bitcoin transactions occurred as a direct result of Silk Road.

 

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Today as news began to spread about Silk Road being shut down by the FBI, the price of Bitcoins dropped from $130 down to just over $85. Analyst are speculating that the selloff was the direct result of Silk Roads seizure, and indicated that many users felt uncertain about the future of the virtual currency. There could potentially be millions of Bitcoins that are frozen in limbo as a result of the seizure, and they will most likely never be claimed by their owners. At the time of this writing, the Bitcoin price had rebounded to about $120.

Amazon's Jeff Bezos is now the official owner of The Washington Post

While I first broke the news that Amazon CEO, Jeff Bezos, had purchased The Washington Post, the sale was not finalized until this week. Yesterday the announcement came that the $250 million acquisition had been finalized, and that Bezos was now the sole owner of the near 80-year old company.

 

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While $250 million sounds like a lot of money to spend on a business which many consider a dying medium, Bezos has plenty of cash to spare. He founded Amazon.com back in 1994 and has since became one of the wealthiest men in the world. Bezos says that he plans to turn the post around and once again lead it to profit. Bezos commented that he will remain at the helm of Amazon, and that he will visit the Post from time to time, but will remain devoted to Amazon for the foreseeable future.

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