Business, Financial & Legal News - Page 120

All the latest Business, Financial & Legal news as it relates to tech, gaming, and science - Page 120.

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Apple rakes in $45.4 billion in third quarter earnings

Derek Strickland | Aug 4, 2017 12:11 PM CDT

Apple has recently posted third quarter earnings, showing consistent revenue growth in key areas such as iPhone sales and services revenue.

Apple rakes in $45.4 billion in third quarter earnings

In the three-month period ended July 1, technology juggernaut Apple generated a whopping $42.4 billion in total revenues, up 7.2% year-over-year, continuing its landmark Fiscal Year 2017 earnings trajectory. The Cupertino-based company earned $10.768 billion in operating income, up 6.56% year-over-year, and $8.717 billion in net income, up 11.81% over fiscal Q3'16. As Apple's earnings grow, so too does expenses: the company saw a mighty 12% increase of operating expenses to $6.720 billion in the quarter.

Apple CEO Tim Cook notes that third quarter growth was driven by record earnings from the company's services segment, which saw a big 22% spike in year-over-year revenues to $7.266 billion. Apple's services branch includes revenues from the App Store, iTunes, Apple Pay, and Apple Care. In fact, the services segment accounted for about 17% of total revenues for the quarter.

Continue reading: Apple rakes in $45.4 billion in third quarter earnings (full post)

Sony buys majority stake in Funimation for $143 million

Derek Strickland | Aug 1, 2017 6:10 AM CDT

Sony Pictures, a division of Sony Corp, today announced that it has agreed to purchase majority stake in popular American anime producer Funimation.

Sony buys majority stake in Funimation for $143 million

Sony Pictures has acquired 95% of equity interests of renowned animation distributor Funimation for $143 million, the company has announced. Sony Pictures remains an ailing branch for Sony Corp, with the segment recording a $719 million loss in Fiscal Year 2016 operating income, and sales and operating revenue dropping 3.73% year over year to $8.06 billion.

"Sony Pictures Television Networks ("SPTN"), a division of Sony Pictures Television Inc., an indirect wholly-owned subsidiary of Sony Corporation ("Sony"), today announced that an SPTN affiliate has entered into a definitive agreement to acquire 95% of the equity interests in a Japanese anime distributor, Funimation Productions, Ltd. for approximately 143 million U.S. dollars," reads an official press release put out by Sony Pictures.

Continue reading: Sony buys majority stake in Funimation for $143 million (full post)

Samsung overtakes Intel as biggest chip maker

Lana Jelic | Jul 28, 2017 3:53 PM CDT

For the last 25 or so years, Intel has dominated the world as the biggest chip maker. This is different from manufacturers of chips because many manufacturers are fab-less manufacturers that rely on chip makers like Samsung and Intel to fabricate their chips. There are other companies like TSMC and Globalfoundries that also manufacturer chips, but they don't quite do it at the scale that Intel and Samsung do.

Samsung overtakes Intel as biggest chip maker

Now, Samsung overtook Intel position and became the biggest chip maker in Q2 2017.

Part of that reason has to do with the fact that Samsung has been expanding their chip manufacturing business and doing so at a rapid pace. Samsung's customers include the likes of Apple, Qualcomm, and Samsung. Between those three companies, it seems logical that Samsung could ship enough chips to overcome Intel's chip shipment numbers. Intel mostly manufactures chips for themselves and does so in PCs and servers, but very rarely for mobile.

Continue reading: Samsung overtakes Intel as biggest chip maker (full post)

Intel hits record $14.8 billion second quarter earnings

Derek Strickland | Jul 28, 2017 3:17 AM CDT

Intel reports record second quarter earnings of $14.8 billion in revenues, and adjusts its total year earnings to reflect strong segment growth.

Intel hits record $14.8 billion second quarter earnings

Intel today reported its fiscal Q2'17 earnings of $14.8 billion, up 14% year-over-year with impressive growth in client computing, which was up 12%, and an increase of 16% in data-centric businesses like its Data Center, Internet of Things, and Programmable Solutions Groups. The Santa Clara-based tech titan reported operating income of $3.8 billion, representing a massive 190% jump year-over-year. Earnings per share (EPS) was $0.58 during the three-month quarter, up a mighty 115% YoY.

Intel generated $4.7 billion in operational cash flow during the quarter, and as a result of two strong quarters of revenue growth, the company has adjusted its full-year outlook by $1.3 billion to $61.3 billion, and raised its EPIS outlook to $2.66, up 15 cents over previous forecasts.

Continue reading: Intel hits record $14.8 billion second quarter earnings (full post)

Corsair majority stake bought for $525 million

Derek Strickland | Jul 26, 2017 12:22 PM CDT

Investment firm EagleTree Capital now owns the majority share of leading PC peripheral-maker Corsair, corroborating recent reports from Reuters.

Corsair majority stake bought for $525 million

In a transaction valued at approximately $525 million, EagleTree Capital has finalized a purchase agreement with Corsair's current management to purchase a majority stake within the company from its current owners Francisco Partners.

Corsair founder Andy Paul will retain his position as CEO in the company following the transaction, and key execs from EagleTree are keen on expending into new markets for the brand's fleet of premium peripherals and PC components, as well as possible acquisitions in the future. Corsair remains a private company, and it will be interesting to see if the new stakeholders will explore IPO plans in the coming years.

Continue reading: Corsair majority stake bought for $525 million (full post)

AMD shares rise 8% riding Ryzen and GPU excitement

Anthony Garreffa | Jul 26, 2017 5:25 AM CDT

AMD has been enjoying success after success throughout 2017, bringing excitement to the CPU world with the release of not just Ryzen 7 1800X - but the entire Ryzen 5 and Ryzen 7 family of processors.

AMD shares rise 8% riding Ryzen and GPU excitement

The company continued that upward trajectory with Ryzen ThreadRipper teases all year, with AMD's return to HEDT not just some lukewarm release - but a huge ass kicker to Intel who has been dragging their ass along the ground for years now. AMD's upcoming Ryzen ThreadRipper 1950X flagship processor is a 16C/32T beast for only $999, with Intel's closest processor costing nearly DOUBLE that.

Well, this has all turned into AMD making some massive strides on the books and in the market with AMD shares spiking 8.2% to $15.27 in extended trading on Tuesday. AMD is now expected to have an annual revenue increase of "a mid to high-teens percentage" compared to previous estimates that saw low double-digit percentage revenue growth. AMD is expected to push Q3 2017 revenues by 23% over the previous quarter.

Continue reading: AMD shares rise 8% riding Ryzen and GPU excitement (full post)

Apple sued by insurance company for alleged iPhone fire

Lana Jelic | Jul 24, 2017 11:35 AM CDT

One of the biggest insurers in the United States, State Farm, recently sued Apple blaming the company for a fire that occurred after an Apple user that bought an iPhone 4S had their iPhone catch fire and burned their home.

Apple sued by insurance company for alleged iPhone fire

The lawsuit claims that a fire was started in the customer's home and that there was a significant source of heat that came from the smartphone's battery area and that they discovered an internal short inside of the battery that caused the fire to begin with.

This isn't the first time a smartphone has caused a fire, like the Note7, but this lawsuit is one of the few times that Apple has been sued for faulty batteries. Traditionally, other companies have been sued in the past for faulty batteries that have caused fires, but it sounds like the customer, in this case, didn't get a satisfactory response from Apple about their claim and neither did their insurance company, and now both are suing Apple for damages.

Continue reading: Apple sued by insurance company for alleged iPhone fire (full post)

The Rock and Apple announce a movie co-starring...Siri?!

Lana Jelic | Jul 23, 2017 6:04 PM CDT

Dwayne "The Rock" Johnson, has announced that he has partnered up with Apple to develop a movie which stars no other than Siri. Because that makes total sense, right? If Steve Jobs got multiple movies, then it's only fair that Siri gets one too!

The Rock and Apple announce a movie co-starring...Siri?!

The movie is named The Rock x Siri: Dominate The Day, and it will be released on YouTube. Very little is known about the movie at this point, and the promotional poster reveals...very little or very much...

We can see The Rock holding an iPhone 7 Plus...then space, a plane, robot, car, and more Dwayne Johnson. Also Chinese lanterns?

Continue reading: The Rock and Apple announce a movie co-starring...Siri?! (full post)

Microsoft earned $90 billion last fiscal year

Derek Strickland | Jul 22, 2017 2:15 PM CDT

Tech titan Microsoft has reported its total yearly and fourth quarter earnings for the fiscal year ending June 30, 2017, showing substantial earnings spikes in all segments.

Microsoft earned $90 billion last fiscal year

Microsoft pulled in a total of $90 billion in revenues for Fiscal Year 2017, handily beating Wall Street's predictions thanks to a big tax write-off from its mobile phone business (Microsoft recorded an effective tax rate of 8% of reported GAAP revenues versus the 15% tax rate in FY16) and impressive growth in the giant's four major segments.

The Redmond-based company reported operating income $22.3 billion for the fiscal year, and net income of $21.2 billion. As Business Insider notes, these figures caused Microsoft stock to climb.

Continue reading: Microsoft earned $90 billion last fiscal year (full post)

Intel accuses Qualcomm of monopolistic behavior

Lana Jelic | Jul 21, 2017 4:39 PM CDT

Intel has thrown their hat into the ring in the fight between Qualcomm and Apple. The reality is that they are kind of the source of this fight, to begin with, and if you look at Apple's complaints, they sound written from Intel's perspective.

Intel accuses Qualcomm of monopolistic behavior

The irony, of course, is that Intel is the chip company in question that is supposed to be the only competitor to Qualcomm. Intel accusing anyone of monopolistic behavior after what they did to AMD in the past is laughable.

Apple and Qualcomm accuse Qualcomm of being monopolistic, but Qualcomm has many competitors including Huawei, Samsung, Spreadtrum, and MediaTek.

Continue reading: Intel accuses Qualcomm of monopolistic behavior (full post)