Deal comes on top of further UK agreements
Apple has confirmed deals with 94 further banks in the United States to support Apple Pay. New additions include the Farmers State Bank, Northeast Credit Union and the Acme Federal Credit Union. Including today's addition of two more UK banks, this brings the worldwide total to 786.
Canadian banks expected to follow suit by end of year
Following up on an earlier story, card issuer and financial services giant American Express has confirmed that it will launch Apple Pay support for its cards in Canada tomorrow. The move, an end-run around "dragging" Canadian banks, will bring official compatibility to Amex-issued cards in the country. Apple Pay already works widely in Canada, due to more than 70 percent of merchants having NFC-compatible contactless card readers at POS terminals, but was limited to cards issued by US financial institutions until now.
Now boasts 658 partners; merchants still dragging feet on POS upgrades
Two weeks after its last update, Apple has again updated its Apple Pay partner web page to add another 54 US financial institutions, bringing the total to somewhere around 658 banks, credit unions, and other card issuers that now offer cards supporting Apple's mobile payment technology.
Settlement with record labels over music licensing costs Pandora $90M
Pandora is paying the RIAA $90 million, to settle a lawsuit concerning the streaming of song recordings produced before 1972. At the same time as the settlement announcement, the streaming service's latest financial results report has been greeted poorly, with the stock price for Pandora dropping considerably in after-hours trading, after it suffered a third-quarter loss that may have been caused by the introduction of Apple Music, among other factors.
Financial institutions embrace mobile payment tech as merchants drag feet
A week after updating its partner website to add 29 more financial institutions that are supporting Apple Pay, the iPhone maker has again added new names to the list with another 72 banks and credit unions, pushing the total to 604 US partners. Notable among the most recent additions is the FedEx Employees Credit Association and HSBC, the US version of the UK banking giant, which has 232 branches in the US and is one of the major UK banks supporting Apple Pay in that region.
Now up to 532 US partner institutions offering mobile payment support
On Tuesday, Apple updated its page listing Apple Pay-supporting financial institutions with another 29 US banks, credit unions, and other such card issuers, bringing the new total to 532. Among the new partners listed is national discount broker chain Scottrade, Velocity Credit Union (the largest CU in Texas), and the LA Police Federal Credit Union, among others. The list cracked 500 partners about a month ago, and the new additions come on the heels of recent announcements of additional US merchant support.
Apple to announce fiscal Q4 results on October 27 at 2pm PT
Apple will announce its fiscal fourth-quarter financial results in a conference call with analysts on October 27 at 2PM PT (5PM ET), the company has revealed. The quarter, which ends on September 30, will include two weeks of sales of the iPhone 6s and 6s Plus, of which Apple has already announced it sold more than 13 million units on opening weekend -- an increase of 30 percent from last year's iPhone 6 introduction. Wall Street, however, sees the gain as simply the addition of mainland China to the list of countries selling the new iPhone on its debut weekend.
Citizens Bank, E-Trade Bank among long list of credit unions, smaller banks
Apple on Tuesday updated its list of Apple Pay participating card issuers to a total of 503 with the addition of 46 new US banks, credit unions, and other financial institutions. The total does not include banks outside the US, such as those in the UK. Among the more prominent names in the latest list are Citizens Bank, E-Trade Bank, John Hopkins Federal Credit Union, Merchants Bank, and the amusingly-named Cape Cod Five Cent Saving Bank.
List tops 450 US partner banks and institutions on eve of possible expansion
On Wednesday, Apple added another 18 US banks and credit unions to the list of institutions now supporting Apple Pay with their issued credit and debit cards. The total number of US partners has now reached 457, up from the last update that also added 18 institutions in mid-August, with all major American banks and CU's now supporting the mobile payment service. The latest announcement comes on the heels of rumors that Apple will announce expansion into another country, such as Canada, at its September 9 media event.
Australian bond orders pass $1.2B in under 2 hours
Apple has launched a corporate bond sale in Australia managed by Goldman Sachs, Commonwealth Bank, and Deutsche Bank, marking its first such sale in Australian dollars. Launched as a "benchmark-sized" sale, one which would usually involve raising somewhere between AU$500 million and AU$1 billion ($365 million and $730 million) , the orders for this particular sale reached AU$1.2 billion ($877 million) within just two hours of being available to purchase.
Strong semiconductor results countered by poor Samsung Galaxy S6 sales
Samsung has endured yet another poor showing in its latest quarterly financial results, confirming warnings the manufacturer issued earlier this month. The Korean electronics giant achieved sales of 48.54 trillion won ($4.1 billion) in the second quarter, up from the previous quarter by 1.42 trillion won or 3 percent, but a drop from the 52.35 trillion won brought in for the same period last year, a fact reflected in other areas of the results.
Investors react to Amazon result, passes Walmart market cap
Amazon has managed to achieve a surprise profit in the last quarter, with an operating income of $464 million and a net income of $92 million, amid skyrocketing sales. Both of these figures are a reversal of the operating and net losses of $15 million and $126 million for the same period last year, with the diluted earnings per share of $0.19 compared to the second quarter of 2014's $0.27 loss.
Quarterly results largely positive for AT&T
AT&T achieved consolidated revenues of $33.0 billion for the last quarter, a year-on-year increase of 1.4 percent, according to the carrier's latest financial report. The earnings per share is also up to $0.69, up from $0.61 for the same period last year, with AT&T beating the $0.63 EPS expected by analysts despite meeting expectations on revenue, in what could be described as an overall positive quarterly report.
Operating loss of $2.1B caused through $7.5B Nokia acquisition, other charges
Microsoft endured an operating loss of $2.1 billion for the most recent quarter, the software giant has revealed in its last financial results before the launch of Windows 10. The heavy loss, which works out to be a loss per share of $0.40, is largely accounted for by the $7.5 billion impairment charge relating to its acquisition of Nokia, and a restructuring charges of $780 million and $160 million, though the rest of the financials appears to be more positive for the company.
Restructuring effort at Blackberry prompts more job losses
Two major employers in the tech industry are preparing to make significant cuts to its employee numbers in the near future, according to reports. BlackBerry will be shedding staff as it attempts to turn its financial fortunes around, while Qualcomm is reportedly planning to cull a considerable number of positions as part of a review of its current strategy, with up to ten percent of its workforce potentially facing the sack.
Kaby Lake announcement means end of Intel tick-tock production schedule
Intel is breaking its "tick-tock" release schedule for the first time, by extending the usefulness of its 14nm processes for another generation of processors instead of moving on to a smaller process. Announced at the same time as Intel's financial results, the introduction of "Kaby Lake" means that the expected switch down to a 10nm manufacturing process will take place at a later time, with the first Cannonlake processors using the technology now expected to come out in 2017.
Loss of 7,800 Microsoft jobs, $7.8B impairment charge confirmed
Microsoft has revealed it is planning to majorly restructure its phone hardware business, in order to "better focus and align resources." An email sent out to staff by CEO Satya Nadella advises that the restructuring effort will also mean layoffs, with up to 7,800 positions at risk in its phone business in the coming months, as well as recording an impairment charge of approximately $7.6 billion in its next set of financial results.
Smaller banks and credit unions steadily coming on board
More local and regional financial institutions have now added support for Apple Pay in the US, according to a web page that lists Apple's partners in the mobile-payment service. Following a list of 30 banks and credit unions that was added in mid-June, another 23 have joined the list today. With the latest additions, Apple's full list of partners in the service is now at 255 and counting.
Galaxy S6 Edge supply issues said to have affected Samsung finances
Samsung has warned it is highly likely to miss expectations in its upcoming quarterly financial report, expected to be issued towards the end of this month. The South Korean electronics giant is expecting to report that its consolidated operating profit for the quarter will be down four percent compared to the same quarter, bringing it down to 6.9 trillion won ($6.1 billion), and continuing a trend of bad luck for the manufacturer.
Apple maintains fifth-place position on list of US companies by revenue
Fortune has released its annual list of top US companies, and Apple is again situated at number five on the list, following the same four companies it did last year: Walmart at the top of the list, followed by Exxon Mobil, Chevron, and financial firm Berkshire Hathaway. The listing, which prizes raw revenue over most other factors, noted however that Apple had the highest profits and market share value of any other company on the list.
CFPB orders payment for PayPal Credit enrollment issues, payment disputes
PayPal will pay out $25 million in fines and restitution, as part of a settlement in a case claiming it deceived customers over credit schemes. The Consumer Financial Protection Bureau (CFPB) filed a complaint and proposed consent order to a federal court on Tuesday that PayPal enrolled customers into PayPal Credit without their permission, promoted benefits it failed to provide, and mishandled disputes over billing.
Nearly 300 US financial institutions now offering mobile payment options
Apple has again updated its list of Apple Pay partners by adding another 30 credit unions and banks, and is continuing to focus more lately on credit unions in the latest additions as it has done with recent updates. Personal and branded cards from the financial institutions can be added to Apple Pay in most cases, though small-business and sub-branded speciality cards may not always be compatible. Since its launch last fall, Apple Pay has nearly instantly become the most popular of the various mobile-payment services, despite only being available on the iPhone 6 (and now, Apple Watch).
Full year financial report reveals Sony's restructuring efforts may be working
Sony anticipates a major change in its finances over the next year, with its full-year financial report predicting its operating profit will greatly increase. The company expects to achieve an operating profit of 320 billion yen ($2.7 billion) for the year ending March 2016, more than four times the 68.5 billion ($571 million) it reported for the year ending March 2015, as well as a net profit of 140 billion yen ($1.2 billion) compared to this year's 126 billion yen ($1 billion) net loss.
Analysts expect continued monster iPhone sales and pressure on iPad's share
Last month, Apple announced that its financials for fiscal Q2 2015 would be released on April 27. Just one day before the conference call, analysts are rushing to get their predictions out regarding what is very likely to be another monster quarter for the company. The short version is that the iPhone will continue to drive the lion's share of revenue and grow sales from the year-ago quarter, while the downward pressure on earnings from the iPad will continue -- and nobody's really sure what's going to happen with the Apple Watch.
Over 40M Netflix subscribers in United States, $1.57B total revenue
Netflix has crossed the 60 million members barrier, the streaming service revealed in its latest quarterly results. Globally, it now has 62.27 million members in total, 59.62 million of which are paid, and reflects a quarterly increase of 4.88 million users. In the United States, total members reached 41.4 million, with paid subscribers nudging past another milestone, with 40.32 million subscribers.
Congratulates host on 10-year anniversary of 'Mad Money' stock show
Say what you want about CNBC financial host Jim Cramer, but he found a way to making talking about stocks for a good portion of the day interesting through a combination of hair-on-fire histrionics and old-fashioned physical comedy. On the occasion of the Mad Money show's tenth anniversary, Apple CEO Tim Cook called in as a surprise to congratulate Cramer, saying that "we love the fact that you highlight innovation as a centerpiece of your show." Cramer took the opportunity to praise Cook as well.
CEO claims T-Mobile now third-largest US carrier
T-Mobile managed to post great results in its fourth quarter financial report, with the carrier's $101 million profit equating to 12 cents per share, reversing the 12 cents per share loss in the previous quarter. Revenues are also up 19.4-percent year-on-year, reaching $8.15 billion, with the company overall beating analyst expectations of a 5 cent EPS and revenues of $7.89 billion.
More than 100 banks reportedly affected by hackers since 2013
Hackers have stolen more than $300 million from financial institutions around the world, according to a report from Kaspersky Lab provided to the New York Times. More than 100 banks in over 30 countries have allegedly been the victims of a malware-based attack, which began in 2013, though it appears the criminals behind it employed more sophisticated techniques than other malware intrusions, such as that of Target.
Local eateries leverage mobile app, mobile payment to grow business
Restaurant app maker ChowNow, which supplies restaurants with an integrated system to tie customized mobile apps and social media to make take-out or delivery ordering easier, has added Apple Pay capability to the apps of its nearly 700 restaurant clients. The effort to add Apple Pay has been ongoing for nearly two months, with a recent flurry of activity to bring the convenient e-payments system to most of its clients.
Net income of $4.76B up year-on-year, fails to meet Wall Street expectations
Google managed to bring in gross consolidated revenues of $18.1 billion for the last quarter, a year-on-year increase of 15 percent and up from the previous quarter's $16.52 billion, according to its latest financial results. Increased traffic acquisition costs (TAC) of $3.62 billion bringing the ex-TAC revenues down to $14 billion. Net income also increased to $4.76 billion from $3.38 billion the same period last year, but the search company failed to meet analyst expectations.
Over half a billion Facebook users access social network only through mobile devices
Facebook's latest quarterly earnings reveal the social network is in good shape and continuing to beat projections, with a lot of it down to the continued increase of mobile devices to access the service. The social network's total revenues of $3.85 billion with earnings per share of $0.54, up from the previous quarter's $3.2 billion revenue and $0.40 earnings.
Alibaba shares valued at $40B to be spun into own company
Yahoo's quarterly financial results reveal it has marginally missed market estimates, but it still managed to improve on the last quarter, bringing in $1.18 billion in revenue after traffic acquisition costs (TAC), with a $0.30 non-GAAP earnings per share. The company also revealed it's intentions to spin out the last of its Alibaba stake, a move designed to prevent it from paying out a large amount of tax.
Cites high customer satisfaction, enterprise opportunities among reasons
Apple's iPad tablet is continuing to see growing declines in sales, as noted in the most recent quarterly results. As expected, the iPad dropped 18 percent year-over-year in sales, though new models and the holiday season provided a substantial boost from the previous quarter. Although Apple only sold 21.4 million iPads this holiday season compared to 26 million last year, sales were up strongly from the previous quarter, leaping from September's 12.3 million iPads.
Surface accounts for $1.1B in revenues thanks to Surface Pro 3
Microsoft's last quarter saw the company pull in $26.47 billion in revenues, beating the previous quarter and the same quarter last year's figures by $3.27 billion and $1.95 billion respectively. The gross margin is up 1 percent year-on-year to $16.33 billion, though operating income is down 2 percent to $7.78 billion, with the diluted earnings per share at $0.71, down nine percent.
Forecast for Q1 2015 places Netflix subscribers at over 61M
Netflix has grown its total audience by 4.33 million subscribers globally, the streaming service revealed in its financial results. The faster increase in viewers compared to the last quarter is reflected in additional subscribers for both US and international markets, 1.9 million and 2.43 million respectively, with the total Netflix audience hitting 57.4 million members.
Loss driven by pension, benefits adjustments; revenue climbs
Verizon has released its fourth quarter and annual financial report. Total operating revenues in the fourth quarter were $33.2 billion, a 6.8 percent increase compared with the fourth quarter of 2013. Full-year 2014 operating revenues were $127.1 billion, up 5.4 percent (or $6.5 billion) compared with full-year 2013. Howeveer, even given the revenue growth, the company posted a $2.1 billion loss for the quarter, cutting its annual profit to $12 billion.
Company increasing research budget, pushing Internet of Things
Chip manufacturer Intel posted quarterly and annual financial results earlier today. For the fourth-quarter, Intel posted revenue of $14.7 billion, operating income of $4.5 billion, net income of $3.7 billion and earnings per share of $0.74. On the year, the company reported full-year revenue of $55.9 billion, operating income of $15.3 billion, and a net income of $11.7 billion. The company generated approximately $20.4 billion in cash from operations, paid dividends of $4.4 billion, and used $10.8 billion to repurchase 332 million shares of stock.
East coast-based chain adds personal, business debit and credit cards to Apple technology
TD Bank, the US-based subsidiary of Canada's similarly-named financial giant, will "soft launch" support for Apple Pay in the US starting today, in accordance with earlier reports. Customers can now add any TD Bank Visa-branded debit or credit cards to Passbook, and use them to make purchases at supporting merchants with an iPhone 6 or iPhone 6 Plus. While customers will have to call their branch to verify some details, both consumer and business cards are now supported.
CFO Mark Garrett says company as 'completed' transition to subscription business model
As part of its fourth quarter and 2014 financial report, Adobe announced its agreement to acquire stock content marketplace Fotolia, and a new, often wished-for, collaboration feature in its Creative Cloud suite. Saying the firm had successfully transitioned to its subscription-based business model, CFO Mark Garrett said the company now expects revenue to grow sequentially every quarter of the year, rather than only when upgrades are announced.
Apple approaching goal of 500 banks and credit unions supporting system by year's end
Another two financial institutions have added support for Apple's mobile-payment iPhone technology, Apple Pay. Fremont Bank, based out of Fremont, California, and the National Institutes of Health Federal Credit Union are now supporting the Touch ID-secured payment system, with the former supporting Apple Pay for both personal and small-business debit cards, while the NIH FCU is currently only supporting personal debit cards, though support for personal and small-business credit cards is coming soon.
Supporting merchant list also expanding as holidays near
Apple Pay, the iPhone maker's new system for mobile payments secured by Touch ID technology, has gained more acceptance as banks and credit unions continue to add support for it. Specifically, two new credit unions -- L&N Federal Credit Union and UW Credit Union -- are now allowing their cards to be used with Apple Pay, and M&T Bank has authorized its small business debit cards to be compatible with the system. A host of other institutions have already announced they will be supporting Apple Pay soon.
Three-year plan involves increasing revenues in Sony PlayStation, device arms
Sony is reducing the number of different products it will be shipping in the future, following poor quarterly financial results. The $1.2 billion loss in November has prompted the company to make a similar change as a recent Samsung announcement, but rather than just cutting down its smartphone range, Sony will also be shrinking its line-up of televisions.
Reduced revenue causes $192M operating loss for Sprint
Sprint's fortunes have suffered in the last quarter, the carrier's latest financial results advise. A loss in postpaid subscribers and reduced revenue in the period has led the company to an operating loss of $192 million for the quarter, with the carrier also announcing it is getting rid of 2,000 employees, as part of an effort to make $1.5 billion in annual cost reductions.
Sales of Samsung smartphones, televisions expected to pick up over holidays
Samsung has recorded an operating profit of 4.06 trillion won ($3.84 billion) in its latest quarterly financial results. Just as the manufacturer warned at the start of this month, the operating profit represents a decrease of 3.13 trillion won ($2.96 billion) from the previous quarter, with other parts of the financial report offering similar dismal and disappointing figures.
Posts $175 million net loss, average monthly active users increase by 13 million
Twitter posted its third quarter results for fiscal year 2014, posting $361.2 million in revenue. Revenue was up compared to the same quarter in 2013, with quarter-on-quarter results improving by approximately $49 million. The company beat out analyst projections of $351.35 million, but posted lower than the $0.01 earnings per share (EPS) expected with a loss of $0.29 EPS.
Surface revenue increases 122 percent, commercial revenue up 10 percent
Microsoft beat analyst expectations for the first quarter of 2015 today, posting $23.20 billion in revenue with a diluted earnings per share (EPS) of $0.54. Analysts expected the company to post EPS of $0.50 on $22.02 billion in revenue. Strong sales in consumer hardware and a 10 percent growth in the commercial sector were responsible for the boost in revenue.
Sale of Alababa Group shares generate $6.3 billion, mobile now material
Yahoo released its third quarter financial results for 2014, stating that it pulled in approximately $1.15 billion in revenue to beat estimates. Analysts estimated that Yahoo would produce $1.04 billion in revenue, with an earnings per share of $0.30. While the revenue is good news for the company, it's due in large part to the $6.3 billion net of tax the company generated from the sale of shares of the Alibaba Group.
Rewards and other perks will remain the same as if physical card had been used
Financial services and credit card issuer American Express has posted a new web page on its site, extolling the benefits of Apple Pay and instructing users on how to add their cards to the Passbook-based payment system. The mobile payment system is designed for the new iPhone 6 and iPhone 6 Plus (now expanded to include the latest iPads for online or in-app purchases only) and will be formally rolled out on Monday, alongside the release of iOS 8.1.
Revenue up 8 percent over the previous year, mobile division records $1B loss
The rebound of the PC market is benefiting Intel, according to its third quarter results for this fiscal year. In the quarterly report, Intel says that it hit $14.6 billion in revenue for the quarter, an increase of $1.1 billion year-over-year. For the first time in a quarter, Intel shipped over a 100 million microprocessors - a new record for the company. However, not all of the financial news is good, as the mobile and communications group realized a loss of more than $1 billion in the same period.
Estimated operating profit 60-percent lower than same period in 2013
Investors in Samsung are being warned profits for the quarter are far below its estimates, in its earnings guidance before its expected third-quarter financial results release. The manufacturer's consolidated operating profit for the period is estimated at 4.1 trillion won ($3.8 billion), down from the 7.19 trillion won in the previous quarter, and down significantly from the 10.2 trillion won reported in the same period last year.