Technology News

Western Digital's quarterly results beat estimates

By Chandni Doulatramani Wed Jan 23, 2013 6:07pm EST (Reuters) - Hard disk drive maker Western Digital Corp's (WDC.O) second-quarter results beat analysts' expectations, helped by growth in its enterprise segment. Shipment in the enterprise segment rose about 10 percent from first-quarter levels to 6.63 million units, analyst Nehal Chokshi of Technology Insights Research told...

23 Jan 11:07 PM 0 Read More...

Netflix shares soar after surprise profit

By Lisa Richwine Wed Jan 23, 2013 6:06pm EST (Reuters) - Netflix Inc surprised Wall Street on Wednesday with a quarterly profit after the video subscription service added nearly 4 million customers in the United States and abroad, sending its shares 34 percent higher. The dominant U.S. video rental company had warned three months ago that it expected a loss for the October t...

23 Jan 11:06 PM 0 Read More...

Netflix surprises with profit on subscriber growth

Wed Jan 23, 2013 4:43pm EST (Reuters) - Video subscription service Netflix Inc reported a quarterly profit as the company added subscribers in the United States and abroad, sending its shares 27 percent higher. Netflix had warned Wall Street it expected a loss for the quarter.The company reported on Wednesday $8 million in net income for the fourth quarter, or 13 cents per share. Re...

23 Jan 9:43 PM 0 Read More...

Apple revenue misses, iPhone disappoints

By Poornima Gupta SAN FRANCISCO | Wed Jan 23, 2013 4:50pm EST SAN FRANCISCO (Reuters) - Apple Inc reported quarterly revenue that slightly missed Wall Street expectations as sales of its flagship iPhone came in below target, sending its shares down more than 4 percent. The world's largest technology company shipped 47.8 million iPhones, lower than the roughly 50 mil...

23 Jan 9:39 PM 0 Read More...

Western Digital's quarterly profit more than doubles

Wed Jan 23, 2013 4:24pm EST (Reuters) - Hard disk drive maker Western Digital Corp's (WDC.O) second-quarter net profit rose 131 percent to $335 million. Excluding items, the company earned $2.09 per share.Revenue rose about 90 percent to $3.8 billion and the company's shipment rose about 108 percent to 59.2 million drives.Western Digital has recovered fast after its manufacturing fa...

23 Jan 9:24 PM 0 Read More...

Cisco to buy Israel-based software maker for $475 million

Wed Jan 23, 2013 8:22am EST (Reuters) - Cisco Systems Inc said it will buy Israeli software maker Intucell for about $475 million in cash to expand its mobile network management offerings. Privately held Intucell makes software that helps mobile carriers manage cellular networks automatically.(Reporting by Supantha Mukherjee in Bangalore; Editing by Maju Samuel)...

23 Jan 1:22 PM 0 Read More...

SocGen upgrades IBM to "hold" on strong 2013 forecast

Wed Jan 23, 2013 8:09am EST (Reuters) - Societe Generale upgraded IBM Corp's stock to "hold" From "sell", saying the world's largest technology services company would be able to increase revenue as technology spending improves in the second half of 2012, especially in Europe. IBM forecast better-than-expected full-year results on Tuesday after reporting a solid fourth quarter.The co...

23 Jan 1:09 PM 0 Read More...

Motorola Solutions profit beats estimates on government spending

Wed Jan 23, 2013 8:08am EST (Reuters) - Communications gear maker Motorola Solutions Inc reported better-than-expected fourth-quarter profit, boosted by higher government spending on public safety, but forecast current quarter revenue below analysts' estimates. The company expects first-quarter revenue to increase 4 percent to 5 percent from a year earlier. This means a revenue of b...

23 Jan 1:08 PM 0 Read More...

Analysts raise Google price targets after strong results

Wed Jan 23, 2013 7:14am EST (Reuters) - Google Inc's stronger-than-expected results triggered a rush of stock price target upgrades on Wednesday, with several analysts saying the company was well placed to generate higher revenue from mobile advertisements in the longer term. Shares of the world's largest internet search company were set to open 5 percent higher on the Nasdaq.At lea...

23 Jan 12:14 PM 0 Read More...

SAP sees profitability rise on new web products

By Harro Ten Wolde FRANKFURT | Wed Jan 23, 2013 7:12am EST FRANKFURT (Reuters) - German business software group SAP said its profit would grow faster than revenues from traditional software and related services, helped by new web software products like cloud-computing and data analysis. SAP, based in Walldorf, southern Germany, is betting on faster growing, web-base...

23 Jan 12:12 PM 0 Read More...