IBM experienced a rise in net income of 9 percent driven largely by systems, software and sales in growth markets. Sales of System z mainframes were up nearly 70 percent in the quarter. – IBM saw fourth-quarter profits rise 9
percent on the strength of systems, software and growth markets.
Announcing its fourth-quarter 2010 earnings on Jan. 18, IBM
said fourth-quarter net income was $5.3 billion, compared with $4.8 billion in
the fourth quarter of 2009, an increase of 9 percent. …
Verizon confirmed during its third-quarter earnings call that it will offer tiered pricing, which along with the arrival of the iPhone could help the carrier bounce back. – Verizon Wireless saw third-quarter profits fall 25 percent and revenue drop
almost 3 percent, in large part due to personnel issues surrounding layoffs and
employee departures. However, company officials could see some help in the near
future in the form of an expanded 4G network, a tiered-pricin…
HP, Sun and Accenture were named in a suit joined by the DOJ in 2007 alleging kickbacks for favorable treatment in government contracts. In the agreement, HP reportedly will pay $50 million. – Hewlett-Packard reportedly will pay about $50 million to settle a lawsuit filed by the Department of Justice over alleged kickbacks in connection with government IT contracts.
HP announced a settlement in principle Aug. 2 that would reduce the companys third quarter profits by 2 cents share.
The a…
How a Taiwanese firm became one of the world’s fastest-growing chipmakers
MOST technology firms fall into one of two brackets: those that sell individual components, such as Intel, a chip giant, and those that offer finished products, such as Apple of iPhone fame. MediaTek sits somewhere in between: it sells most of the innards of mobile phones in a single package, but not the phones themselves—a strategy that has made it one of the world’s fastest-growing chipmakers. On August 4th it said its second-quarter profits were 80% higher than a year before, at NT$9.16 billion ($277m).
Although no household name, MediaTek makes products used by most consumers in rich countries. The Taiwanese firm is a “fabless” chipmaker, meaning that it only designs its chips, while subcontracting production. It started life in 1997 making chips for CD-ROM drives, and eventually took to building the brains of all sorts of consumer devices. Today MediaTek is the leader in these markets, equipping more than 50% of DVD players, for instance. …
UK oil giant BP has said its second-quarter profits are down 53% from a year ago after oil prices remained low.
BP’s replacement cost profit between April and June was $3.1bn (£1.9bn).
The price of oil has hovered at between $60 and $70 a barrel recently – well off the high of $147 seen last July and the $30 lows of earlier this year.
Last month, the company appointed Carl-Henric Svanberg, the Ericsson chief executive, as its new chairman to replace Sir Peter Sutherland.
Mr Svanberg will be joining at a challenging time for the firm after almost 40% of investors voted against BP’s remuneration report at its annual meeting.
‘Turbulent times’
BP’s profit was up 30% from the level seen in the first three months of the year and chief executive Tony Hayward said the firm was delivering a good performance.
"We are in turbulent times, volatile and uncertain," Mr Hayward said. "But we continue to steer a steady course through choppy waters."
Daily production rose by 4% in the three months to the end of June, BP said.
This figure is being closely monitored by analysts to see how output cuts by oil producer cartel Opec and attacks by militants in Nigeria have hit growth in the sector as a whole.
BP said that it had already achieved the $2bn in cost-cutting it had aimed for in 2009, and was expecting to save a further $1bn during the rest of the year. </p
This article is from the BBC News website. © British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.
The consensus of economic wisdom now informs us that we are facing a jobless recovery. That might not be so bad if it hadn’t been preceded by a long period of poorly paid prosperity.
IBM announces second-quarter profits of $3.1 billion, up 12 percent over the same period in 2008, despite seeing a 13.3 percent dip in revenues. IBM also increases its earnings outlook for 2009 to earnings per share of $9.70, up from $9.20.
– IBM announced on July 16 second-quarter
profits of $3.1 billion, up 12 percent over the same period in 2008, despite
seeing a 13.3 percent dip in revenues.
Mark Loughridge, IBM senior vice
president and chief financial officer, said IBM’s
margin improvements offset the lower revenue, so much so…
So what’s wrong with Goldman posting $3.44 billion in second-quarter profits, what’s wrong with the company so far earmarking $11.4 billion in compensation for its employees? What’s wrong is that this is not free-market earnings but an almost …
Dutch electronics giant Philips has said it will "vigorously oppose" any suggestion that it and Korean firm LG fixed the prices of LCD flat screens.
Philips’ comments came after European Commission competition regulators sent it a "statement of objections" to formerly outline their suspicions.
Brussels suspects Philips and LG may have been part of a wider cartel.
The investigation relates to a jointly-owned Philips and LG business – LD Display – which was set up in 1999.
Philips has subsequently sold its share in the unit.
US fine
Issuing a statement of objections is the first formal step in European Union anti-competition investigations, under which the Commission first informs the parties concerned about the objections raised against them.
It does not prejudice the outcome of an investigation, and firms can reply to the objections.
Last November, LG Display pleaded guilty to LCD price-fixing in the US, paying $400m (£249m) following a parallel investigation by US competition regulators.
Japan’s Sharp and Taiwan’s Chunghwa Picture Tubes were also fined by US authorities in that case.
Brussels has not said which other firms are involved in its investigation.
The news comes on the same day that Philipsreported a 94% drop in second quarter profits due to a big decline in sales.</p
This article is from the BBC News website. © British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.
