Technology News

Xerox profit beats estimates on restructuring

Thu Jul 25, 2013 7:45am EDT (Reuters) - Xerox Corp (XRX.N) reported better-than-expected second-quarter earnings on Thursday and reiterated its full year targets as it continued restructuring. Net income from continuing operations attributable to Xerox was $345 million or 27 cents per share, compared with 26 cents last year. The average analyst estimate was 24 cents per share, accor...

25 Jul 11:45 AM 0 Read More...

Russia's Yandex lifts revenue guidance again

MOSCOW | Thu Jul 25, 2013 7:19am EDT MOSCOW (Reuters) - Russian internet company Yandex raised its 2013 revenue growth forecast for the second time, on the back of its persistent leading position in the search market and rising Internet use. The company, which in Russia is ahead of the world's top search engine Google by market share, now sees full-year revenue rising 34-38...

25 Jul 11:19 AM 0 Read More...

Mobile boosts Baidu's second-quarter revenues; buy-outs grip sector

By Paul Carsten and Lee Chyen Yee BEIJING/SINGAPORE | Thu Jul 25, 2013 7:12am EDT BEIJING/SINGAPORE (Reuters) - Revenues from Baidu Inc's mobile services surpassed 10 percent of its quarterly total for the first time in the April-June period, dispelling fears that China's largest Internet search was losing market share to rivals. Baidu has invested in location-based...

25 Jul 11:12 AM 0 Read More...

AOL co-founder Case invests in e-commerce firm

By Alistair Barr SAN FRANCISCO | Thu Jul 25, 2013 7:04am EDT SAN FRANCISCO (Reuters) - Revolution Growth, an investment firm run by AOL Inc co-founder Steve Case, said on Thursday that it invested $40 million in e-commerce start-up Bigcommerce. Bigcommerce, launched in 2009 by Eddie Machaalani and Mitchell Harper, plans to use the money to expand internationally and...

25 Jul 11:04 AM 0 Read More...

Penguin promises EU regulator to scrap Apple ebook deals

BRUSSELS | Thu Jul 25, 2013 5:55am EDT BRUSSELS (Reuters) - EU regulators accepted on Thursday a pledge by British media group Pearson's Penguin unit to scrap its ebook deals with Apple which set price curbs on Amazon and other retailers, closing an antitrust case against the company. Penguin offered in April to end "most-favored nation" contracts for five years. Such claus...

25 Jul 9:55 AM 0 Read More...

Facebook wows Wall Street with mobile ads growth

Thu Jul 25, 2013 5:35am EDT (Reuters) - Facebook Inc's stellar results allayed fears that the company may face difficulty in making money from mobile ads and prompted several Wall Street brokerages to raise their target price on the stock. Facebook, whose shares were set to open up 17 percent, posted a jump in second-quarter revenue on Wednesday, with mobile ad revenues making up 41...

25 Jul 9:35 AM 0 Read More...

SoftBank CEO: no comment on whether he tried to buy Universal Music

TOKYO | Thu Jul 25, 2013 4:58am EDT TOKYO (Reuters) - SoftBank Corp CEO Masayoshi Son said on Thursday he could not comment whether he had tried to buy Universal Music, after a media report last week said Universal's owner Vivendi SA had rejected an $8.5 billion offer from Son's company. "I can't comment on the matter," he told reporters inside Japan's Ministry of Internal ...

25 Jul 8:58 AM 0 Read More...

Yandex co-founder and chief technology officer dies

MOSCOW | Thu Jul 25, 2013 4:49am EDT MOSCOW (Reuters) - Ilya Segalovich, the co-founder and chief technology officer of Russian internet group Yandex, has died after a long battle with cancer, aged 48, the company said on Thursday. Segalovich and Yandex CEO Arkady Volozh founded the company in 1997 and built it into the leader of the Russian internet search market, ahead of...

25 Jul 8:49 AM 0 Read More...

House rejects bid to curb spy agency data collection

By David Alexander WASHINGTON | Wed Jul 24, 2013 9:05pm EDT WASHINGTON (Reuters) - A U.S. spy program that sweeps up vast amounts of electronic communications survived a legislative challenge in the House of Representatives on Wednesday, the first attempt to curb the data gathering since former NSA contractor Edward Snowden revealed details of its scope. The House o...

25 Jul 1:05 AM 0 Read More...

Facebook shares soar as users, mobile ads climb

By Alexei Oreskovic SAN FRANCISCO | Wed Jul 24, 2013 5:52pm EDT SAN FRANCISCO (Reuters) - Facebook Inc delivered strong evidence it can thrive on smartphones and tablets on Wednesday, reporting a much better-than-anticipated surge in mobile advertising revenue in the second quarter that ignited a 20 percent share rally. The world's No. 1 social network, which is bat...

24 Jul 9:52 PM 0 Read More...