Tag - Financial
What do you do when you have a lot of (relatively) bad news to tell stock analysts and investors? What Steve Jobs would have done, and exactly what Apple CEO Tim Cook did: "Ac-cent-u-ate the positive" (to borrow the title of a hit song from 1944). In truth, there is genuinely some good as well as bad in Apple's financial report: the company is still selling tons of iPhones, Macs are selling better as the rest of the PC industry takes a nosedive, and Cook noted that the June quarter's iPad sales are likely to be the best in a couple of years, so that's all highlights. There is un-spinnable lowlights too, but are things as gloomy as they seem?
Verizon has managed to post quarterly earnings roughly in line with expectations from analysts, posting revenues of $32.2 billion that missed estimates by $300 million, though its earnings per share of $1.06 is an increase of 3.9 percent compared to the first quarter of last year. Operating income for the telecoms company was $7.9 billion with an operating income margin of 24.7 percent, and an EBITDA totaling $12 billion in the quarter.
Apple's second fiscal quarter results, now due to be reported on April 26, are likely to contain a lot of bad news -- though the company will still be reporting growth rates and profits any other company would be envious of. The problem is not that Apple is in any kind of trouble -- sales dropoffs are common following blockbuster holiday quarters -- it is that the rate of the dropoff will be bigger than last year, and may be more severe than even Apple has predicted, according to some analysts. However, other areas of possible growth -- such as Apple's "services" sector -- could help bolster the overall financials, even if they can't replace the drop in iPhone sales.
Yahoo is continuing to find life difficult, reporting weak earnings in its first quarter results while being scrutinized for a possible acquisition by a number of parties. The former web giant's CEO Marissa Mayer claims the quarterly financials are "in line with our expectations," despite the company managing to endure a net loss of $99 million, a year-on-year swing of $122 million from the same quarter last year.
Following the earlier announcement that Apple, again working exclusively through American Express, had debuted Apple Pay in its sixth country with its arrival in Singapore on Tuesday, the website for Apple's US financial partners that offer credit or debit cards that work with the company's mobile wallet technology has added another 61 members, two weeks after it topped 1,153 US institutions. The update allows customers of the banks or credit unions listed below to begin adding their cards to the Wallet application on the iPhone 6 or later, as well as the Apple Watch and new iPhone SE.
On Tuesday, Apple updated its Apple Pay partner site to add another 33 US banks and credit unions to its list of financial institutions supporting Apple Pay, the iPhone maker's mobile payments technology. Notable among the latest crop is the addition of Barclays US, following in the footsteps of its UK parent bank. Apple's total number of US banks supporting Apple Pay has now topped 1,153 (not including two "loyalty card" issuers, BJ's Wholesale and Kohl's).
On Friday, Apple added another 48 US financial institutions on its Apple Pay partner site who are now supporting the company's mobile payments technology, notably including Ally Bank (which we previously covered in a briefly item), one of the last major national US banks that had not supported the mobile wallet technology. In addition, Apple posted that it has expanded Apple Pay in China to another three banks there. Apple now boasts at least 1,120 US issuers that support its mobile-payment technology (not including two "loyalty card" issuers, BJ's Wholesale and Kohl's).
On Friday, Apple added another 27 US financial institutions on its Apple Pay partner site who are now supporting the company's mobile payments technology, notably including a now-rare major multi-national institution, in the form of PNC's Global Investment Servicing division. Most large US and multi-national US-based banks added support for Apple Pay early on in the technology's history, leaving PNC's GIS division as an "odd man out."
Samsung Electronics announced financial results for the fourth quarter that ended December 31, 2015. Samsung posted 53.32 trillion won ($44.4 billion) in consolidated revenue, seeing profits from the quarter fall to 6.14 trillion won ($5.1 billion) from the previous quarter's 7.39 trillion won ($6.2 billion). The company pins global economic headwinds, a sharp fall in oil prices, and "softer demand" for PCs for the fourth quarter's lowered earnings from the previous quarter.
Barclays, one of the last major banks and financial institutions in the United Kingdom that still does not offer Apple Pay to its customers, now aims to begin supporting the mobile payments service in the next few month. An email sent from an executive at the bank to a customer advises it is still holding to its previous claim of a launch early this year, and anticipates it will do so "within the next 60 to 75 days."
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Cirrus creates Lightning-headphone dev kit
Apple supplier Cirrus Logic has introduced a MFi-compliant new development kit for companies interested in using Cirrus' chips to create Lightning-based headphones, which -- regardless of whether rumors about Apple dropping the analog headphone jack in its iPhone this fall -- can offer advantages to music-loving iOS device users. The kit mentions some of the advantages of an all-digital headset or headphone connector, including higher-bitrate support, a more customizable experience, and support for power and data transfer into headphone hardware. Several companies already make Lightning headphones, and Apple has supported the concept since June 2014. http://bit.ly/29giiZj
Apple Store app offers Procreate Pocket
The Apple Store app for iPhone, which periodically rewards users with free app gifts, is now offering the iPhone "Pocket" version of drawing app Procreate for those who have the free Apple Store app until July 28. Users who have redeemed the offer by navigating to the "Stores" tab of the app and swiping past the "iPhone Upgrade Program" banner to the "Procreate" banner have noted that only the limited Pocket (iPhone) version of the app is available free, even if the Apple Store app is installed and the offer redeemed on an iPad. The Pocket version currently sells for $3 on the iOS App Store. [32.4MB]
Porsche adds CarPlay to 2017 Panamera
Porsche has added a fifth model of vehicle to its CarPlay-supported lineup, announcing that the 2017 Panamera -- which will arrive in the US in January -- will include Apple's infotainment technology, and be seen on a giant 12.3-inch touchscreen as part of an all-new Porsche Communication Management system. The luxury sedan starts at $99,900 for the 4S model, and scales up to the Panamera Turbo, which sells for $146,900. Other vehicles that currently support CarPlay include the 2016 911 and the 2017 models of Macan, 718 Boxster, and 718 Cayman. The company did not mention support for Google's corresponding Android Auto in its announcement. http://bit.ly/295ZQ94
Apple employees testing wheelchair features
New features included in the forthcoming watchOS 3 are being tested by Apple retail store employees, including a new activity-tracking feature that has been designed with wheelchair users in mind. The move is slightly unusual in that, while retail employees have previously been used to test pre-release versions of OS X and iOS, this marks the first time they've been included in the otherwise developer-only watchOS betas. The company is said to have gone to great lengths to modify the activity tracker for wheelchair users, including changing the "time to stand" notification to "time to roll" and including two wheelchair-centric workout apps. http://bit.ly/2955JDa
SanDisk reveals two 256GB microSDXC cards
SanDisk has introduced two 256GB microSDXC cards. Arriving in August for $150, the Ultra microSDXC UHS-I Premium Edition card offers transfer speeds of up to 95MB/s for reading data. The Extreme microSDXC UHS-I card can read at a fast 100MB/s and write at up to 90MB/s, and will be shipping sometime in the fourth quarter for $200. http://bit.ly/294Q1If
Apple's third-quarter results due July 26
Apple has advised it will be issuing its third-quarter results on July 26, with a conference call to answer investor and analyst queries about the earnings set to take place later that day. The stream of the call will go live at 2pm PT (5pm ET) via Apple's investor site, with the results themselves expected to be released roughly 30 minutes before the call commences. Apple's guidance for the quarter put revenue at between $41 billion and $43 billion. http://apple.co/1oi1Pbm
Twitter stickers slowly roll out to users
Twitter has introduced "stickers," allowing users to add extra graphical elements to their photos before uploading them to the micro-blogging service. A library of hundreds of accessories, props, and emoji will be available to use as stickers, which can be resized, rotated, and placed anywhere on the photograph. Images with stickers will also become searchable with viewers able to select a sticker to see how others use the same graphic in their own posts. Twitter advises stickers will be rolling out to users over the next few weeks, and will work on both the mobile apps and through the browser. http://bit.ly/29bbwUE