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IBM’s year-over-year revenue didn’t decline in the last quarter
Here’s a surprise: After 22 quarters of consecutive year-over-year revenue declines, IBM today reported that its revenue increased from Q4 2016 to Q4 2017. The company reported revenue of $22.5 billion for the last quarter, up from $21.77 billion a year ago. Read More
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Adobe had a record quarter, but still has substantial untapped potential
Adobe announced a record quarter yesterday with $2.01 billion in revenue for Q42017. That represents a healthy 25 percent year over year increase for the company, but about half of that continues to come from Creative Cloud. Experience Cloud, which includes Adobe Marketing Cloud, Adobe Analytics Cloud and Adobe Advertising Cloud in many ways represents promise for even greater revenue in… Read More
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Okta reports earnings, moves headquarters and launches free service for startups
It was a big day for online identity management provider, Okta. After reporting better-than-expected third-quarter earnings, the company also made a slew of announcements. Read More
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Box is cash flow positive again, with 26% revenue growth
Box posted its third-quarter earnings after the bell on Wednesday. The cloud management business reported $129.3 million in revenue, up 26 percent from last year. This beat analyst estimates of $128.64 million. The company also reported an adjusted negative 13 cents per share, in line with Wall Street estimates. This compares to negative 14 cents from last year. Read More
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Macy’s credit card processors stop working on Black Friday
It’s one of the biggest shopping days of the year, but retail giant Macy’s can’t get its credit card processors to work. Customers have been waiting in lines across the United States to buy discounted items, only to find out that the machines won’t take credit cards or gift cards. Some Bloomingdale’s stores, which are owned by Macy’s, may have also been… Read More
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Salesforce keeps rolling with another monster quarter, as it sets $20 billion revenue goal
Ho hum, Salesforce announced its quarterly earnings yesterday and the news was all good once again with revenue up 25 percent to $2.68 billion. The company has blown through its $10 billion yearly revenue goal and has boldly set one for $20 billion by FY2022. I wouldn’t put it passed them. The company also announced some big executive moves. More on that later Salesforce is the anti-IBM. Read More
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Tencent’s profit surges 69% thanks to its thriving games business
Tencent, Asia’s highest-valued technology company, has smashed analyst forecasts for its Q3 2017 after it posted a profit of 18 billion RMB ($2.7 billion) on revenue of 65.2 billion RMB ($9.8 billion). That blew past expectations of 15.7 billion yuan and 61 billion yuan, according to analysts polled by S&P Global Market Intelligence, thanks to its high-performing mobile and PC… Read More
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Redfin shares fall 7% after real estate earnings disappoint
Redfin, the real estate brokerage site, saw its shares tumble about 7 percent in after-hours trading, shortly after sharing its earnings. The newly public business may have disappointed Wall Street, but it’s still growing. Revenue was up 35 percent from last year and net income nearly doubled, from $5.7 million to $10.6 million. Read More
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Snap is having a bad day
Ho boy — there are bad days and there are bad days in an earnings season, and this is definitely the latter for Snap. The company released its quarterly report for its financial performance in the third quarter this year, and as a result, the company’s stock is absolutely cratering. Read More
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Snapchat share price craters on weak revenue and user growth in Q3 2017
Snap’s losing streak continued with today’s Q3 2017 earnings report that saw it miss financial expectations and add just 4.5 million users. Snap earned $207.9 million in revenue with a loss of $0.14 per share, compared to expectations of a $237 million in revenue and a loss of $0.15 EPS. Read More
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Crunch Network
Big tech goes five for five
As October came to a close, three of the five largest American tech companies beat earnings expectations. The quarterly results of Amazon, Microsoft, and Alphabet were impressive, with each firm bringing in both more revenue and profit than analysts had expected. And, as we explored at the time, the companies managed to come up with their wins in unique fashion. And so it goes this time… Read More
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Apple’s record services revenue suggests growth in Apple Pay, Apple Music
Everyone’s favorite almost-trillion-dollar company reported fourth quarter earnings after the bell on Thursday. And while much of the attention was on stellar iPhone sales, Apple wants to make sure that people know its services business is doing great, too. “Service revenues reaches all-time high,” was the headline of the press release. But what is services revenue… Read More
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Apple taps $900B after a blowout fourth quarter
Apple is continuing its run toward $1 trillion today, as a huge fiscal fourth quarter sent the stock to new highs and helped its market cap briefly hit $900 billion — though it’s since leveled off just a bit and is now resting just a hair below that. Read More
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Apple delivers on its much-hyped promise to Wall Street in spades
As Apple looks to set itself up to Wall Street as the de facto standard of what a smartphone can — and should — look like as consumer demand evolves over time, it was able for the large part to deliver on that claim as it showed up with a big beat in the fourth quarter. Read More
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Pandora misses a beat, shares down 6% after posting earnings
Music streaming business Pandora reported earnings after the bell on Thursday. Adjusted earnings per share were negative six cents, better than the negative eight cents that Yahoo Finance analysts were predicting. Revenue was $378.6 million, an 8 percent year-over-year increase from last year. Yet it’s beneath the $380.57 million that analysts were expecting. Read More
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Blue Apron shares trade down 9% after disappointing earnings
Blue Apron just can’t catch a break. The New York-based cooking kit business released its third-quarter earnings before the bell on Thursday. The results were mixed. The company handily beat revenue expectations, but its losses were also worse than expected. Read More
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Another blockbuster quarter for Alibaba as revenue surges 61%
Alibaba’s stellar financial performance continues unabated after the Chinese e-commerce giant again beat analyst expectations thanks to impressive growth in its core business at home. The firm reported total revenue of RMB 55.1 billion ($8.3 billion), beating expectations of RMB 52.2 billion according to a Reuters poll with 61 percent growth. Net profit for the period increased by… Read More
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With Apple lawsuits still looming, Qualcomm beats revenue expectations
Against a backdrop of a year-long legal battle with Apple, Qualcomm has beat analysts’ revenue and earnings estimates in its fourth fiscal quarter. Qualcomm booked $5.96 billion in sales, or 92 cents per share, versus expectations of $5.8 billion and 81 cents per-share as the overall economics of the chip business continue to improve. The numbers were good enough to bump shares of the… Read More
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Tesla’s Wall Street hype train hits a speed bump
Tesla’s march toward its goal of being able to produce 5,000 Model 3 vehicles per week is a very expensive prospect — but the company says it basically has enough money to hit that target. Despite that, Tesla wasn’t able to completely sate Wall Street’s concerns about the company’s ability to hit those production targets. Read More
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Yelp beats earnings, revises outlook after Eat24 sale
Yelp, the platform which connects consumers and local businesses, posted third-quarter earnings after the bell on Wednesday. Yelp’s net revenue for the third quarter was $222.4 million, 19 percent growth for the same period last year. This compares to analyst estimates of $220.8 million, according to Yahoo Finance. Adjusted net income was $25.4 million, compared to $18.4 million… Read More
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