There was a time when PCs practically sold themselves, but that was before everyone started crowing about the tough economic landscape and other factors that, as Dell explains, makes growing a PC business "challenging," a word the OEM used when describing its second quarter financial results. Amid slumping sales and declining profits, Dell said it's in the process of transforming its business with a clear strategy focused on long-term results.
Apple and Google are both reportedly interested in Kodak's digital patents, but the amount each one is willing to pay is far below what the cash strapped company thinks they could be worth. By Kodak's estimation, the patents up for auction could bring in as much as $2.6 billion, which would go a long way towards settling the company's financial woes and bankruptcy proceedings. Early bids, however, haven't even topped $250 million.
Companies like HTC and every other smartphone maker competing against Apple and Samsung face a harsh reality, albeit an obvious one -- they're not Apple or Samsung. That should go without saying, but it doesn't make it any easier to swallow the fact that everyone seems to want an iPhone or Galaxy S III. HTC, which played a major role in popularizing Android as a legitimate contender in the mobile OS space, is now struggling to remain relevant in a market it helped create.
Someone at Sony is probably listening to the Carter Family belt out "Keep On the Sunny Side" after having to report to investors (PDF) a $315 million net loss during the company's first fiscal quarter ended June 30, 2012, but as it turns out, maintaining a positive outlook is no easy task. In fact, Sony's financial outlook for the full fiscal year is the exact opposite. In pretty much every sector of business, Sony expects business to be lower than previously forecast, and in terms of portable hardware (think PS Vita), Sony expects "significantly lower" sales than what was being forecast in May.
Confidence in Mark Zuckerberg's ability to navigate his social networking ship through rough financial waters is beginning to waver. Investors reacted negatively to Facebook's second quarter financial report, sending shares of the social network down almost 15 percent in after market trading, after it had already dipped 8 percent during regular trading hours on Thursday.
Shares of Zynga plummeted 40 percent to $3.03 in after market trading after the social game developer reported a net loss for its second quarter ended June 30, 2012. Zynga tried to put a positive spin on the fact that its Q2 revenue of $332 million represents a 19 percent year-over-year increase and that its six months year-to-date revenue of $653 million is a 25 percent year-over-year increase, but the numbers still added up to a $22.8 million net loss for the quarter, and a $108.1 million net loss for the six month period.
San Jose's networking kingpin Cisco is planning to hand out about 1,300 pink slips, which equates to 2 percent of its workforce, as it attempts to cope with a sluggish global economy and flat sales. The latest round of layoffs come just one year after Cisco announced 6,500 job cuts, but reducing jobs is not a cure-all to Cisco's problems, nor is a weak economy the only thing the company has to worry about.
Apple late Tuesday announced financial results for its fiscal 2012 third quarter ended June 30, 2012, and the numbers are nothing short of obscene. All those iDevices, app sales, and other products and services combined to rake in an $8.8 billion profit on quarterly revenue of $35 billion, compared to $7.3 billion profit on $28.6 billion in revenue during the same quarter one year ago. Nonetheless, analysts collectively shrugged their shoulders and said, 'Meh, it could have been better.'
Bob Feldstein, a name you're probably not familiar with, worked behind the scenes at Advanced Micro Devices (AMD) getting the company's chips into game consoles, including securing deals to use AMD hardware in all three next-generation console devices from Nintendo, Sony, and Microsoft. He was a pretty important figure at AMD, joining the Sunnyvale company when it acquired ATI six years ago, and now he's taking his talents to Nvidia.
Advanced Micro Devices (AMD) didn't give investors much reason to celebrate yesterday when announcing its second quarter financial results. The Sunnyvale chip designer reported revenue of $1.41 billion in Q2, which is representative of an 11 percent drop sequentially and a 10 percent decline year-over year. AMD pointed to a weak market as the reason why the numbers dropped the way they did.