Apple’s Revenue Rises, Buoyed by Services and Accessories

Despite a decline in iPhone sales, Apple’s revenue rose 1 percent in its fiscal Q2 (ending March 28) to $58.3 billion, with profit falling about 3 percent to $11.25 billion or $2.55 a share. Prior to the coronavirus pandemic, Apple projected more than $63 billion, but the numbers still exceeded analysts’ expectations of almost $55 billion in revenue. Due to an uncertain economy in the wake of the pandemic, Apple would not project Q3 sales, the first time it declined to do so since it began offering such guidance in 2003. Continue reading Apple’s Revenue Rises, Buoyed by Services and Accessories

Facebook Stock Plunge Proves Tech Firms Aren’t Bulletproof

The myth that the stock of the tech behemoths will only increase in value was shattered this last week when Facebook’s shares tumbled 19 percent, erasing about $120 billion in shareholder wealth. That loss represents among the largest one-day dip in market value that any company has suffered. Facebook’s loss began when it released disappointing Q2 earnings and warned investors of a “sharp slowdown in sales growth” in the next quarters as well as more spending for security and privacy. Continue reading Facebook Stock Plunge Proves Tech Firms Aren’t Bulletproof

Viewer Engagement Increasing for Longer Facebook Videos

For years, Facebook counted any video auto-play that lasted three seconds or longer as a view, which resulted in many publishers producing very short clips. Last year, the social media platform tweaked its News Feed algorithm to favor longer videos, and, with the debut of mid-roll ads, publishers had incentive to post clips longer than 90 seconds. Social video publishing specialist Wochit has collected data from over 200 publishers, including CBS, NBC News and USA Today that proves Facebook’s strategy is working. Continue reading Viewer Engagement Increasing for Longer Facebook Videos

Latest T-Mobile Promotion Offers Stock Shares to Customers

T-Mobile chief executive John Legere says he will give away a share in the company to every account holder with a voice plan, a deal that’s also good for new customers. Those who have been T-Mobile customers for at least five years will also get two shares for every new customer they refer. T-Mobile says it has more than 30 million postpaid phone customers. The stock is currently trading at $43.07 per share, which would value the promotion at $1.3 billion if every customer takes Legere up on his offer. Continue reading Latest T-Mobile Promotion Offers Stock Shares to Customers

Twitter Reassures Investors with Plans for Upcoming Features

Twitter recently announced that it would launch several new features within the coming months designed to improve functionality and increase usage by loyal and casual Twitter users alike. The company plans to improve its private messaging function by the end of this year. The ability to shoot and upload videos, a display to show top tweets that users missed, and other helpful new features are expected to roll out next year. Twitter’s shares rose sharply following the announcements. Continue reading Twitter Reassures Investors with Plans for Upcoming Features

Amazon and Hachette Continue Tense E-Book Negotiations

During its much-publicized dispute over a new e-book contract with the Hachette Book Group, Amazon has proposed letting the publisher’s authors keep 100 percent of their e-book sales revenue while the tense negotiations continue. The proposal is Amazon’s response to Hachette authors’ complaints that they have become collateral damage in the ongoing negotiations. Hachette immediately rejected the proposal, suggesting that accepting it would be “suicidal.” Continue reading Amazon and Hachette Continue Tense E-Book Negotiations

E-Commerce: “Buy Now” Buttons Appear in Twitter Mobile App

One new feature suggests that Twitter may be experimenting with online shopping. “Buy Now” buttons began appearing in the mobile app this week in tweets from Fancy, an online retailer. The buttons previously took users to a checkout page, but the function is no longer active. If the function is restored, it will be the first time that Twitter allows users to pay for products from a tweet. Twitter has been expanding its e-commerce capabilities since the company went public. Continue reading E-Commerce: “Buy Now” Buttons Appear in Twitter Mobile App

Chinese E-Commerce Company Alibaba Files IPO in the U.S.

Alibaba, China’s largest and fastest growing e-commerce company, filed for a $1 billion IPO, which could make it one of the most valuable tech companies in the world. The company made $6.5 billion and saw a 57 percent increase in revenue in the last nine months of 2013. Alibaba handles more business than any other e-commerce company, with transactions on its three online sites — Taobao, Tmall and Alibaba.com — totaling $248 billion, which is more than eBay and Amazon combined. Continue reading Chinese E-Commerce Company Alibaba Files IPO in the U.S.

Optimistic Financial Reports from Electronic Arts and Activision

Activision Blizzard and Electronic Arts released positive financial results and showed optimism about the holiday shopping season. EA said sales of new video game consoles from Microsoft and Sony exceeded their goals, as well as the sales of games for those devices. EA also announced a repurchase plan for $750 million shares, and a lofty profit forecast for the rest of the year. Activision reported that presales for the newest version of “World of Warcraft” are the strongest in the game’s history. Continue reading Optimistic Financial Reports from Electronic Arts and Activision

The Amazon Effect: RadioShack and Staples to Close Stores

RadioShack’s shares fell by 24 percent after holiday sales came in dramatically under expectations. The company has now announced that it will shutter 1,100 stores, leaving 4,000 brick-and-mortar locations in the U.S. Meanwhile, Staples announced that it would close 225 stores by next year, as the office supply superstore continues to move its business online, which already accounts for half of its total sales. Can physical retail stores survive in an Amazon-dominated world? Continue reading The Amazon Effect: RadioShack and Staples to Close Stores

Research Suggests Strikes Systems Not Curbing Online Piracy

Several countries have launched “graduated response” initiatives in an effort to reduce online piracy, but new findings from U.S. and French researchers suggest the measures do not have the intended effect. Last year, the U.S. implemented its six-strikes system to warn infringing file-sharers, and then penalize them after multiple warnings. Although the penalties range from a fine to a prolonged Internet disconnection, the study suggests this does not prevent piracy.  Continue reading Research Suggests Strikes Systems Not Curbing Online Piracy

Amazon to Release First Original Series for Video Streaming

The first of Amazon’s original series will debut this month, and the selection process by the retail giant for determining which shows made the cut is unlike any traditional decision-making most networks go through. Amazon is minimizing risk by assessing data outlining early viewership for a group of pilot episodes, and “Alpha House,” a political comedy written by “Doonesbury” comic strip creator Garry Trudeau and featuring John Goodman and Bill Murray, was the biggest hit. Continue reading Amazon to Release First Original Series for Video Streaming

Twitter Announces Filing for IPO in Fewer Than 140 Characters

Twitter announced filing its much-anticipated initial public offering last Thursday, in what could become the highest-profile tech stock market debut since last year’s Facebook IPO. The social media giant filed “confidential” paperwork with securities regulators to sell shares, but did not make public the company’s financials, including revenues. Filing confidentially is a new feature in the stock market created by the JOBS Act, designed for companies making less than $1 billion in revenue. Continue reading Twitter Announces Filing for IPO in Fewer Than 140 Characters

Dish Pursues Clearwire: Could Complicate Sprint Nextel Plans

Dish Network is reportedly making a play for shares of Clearwire Corp., which could complicate a planned purchase of the broadband company by Sprint Nextel. In an effort to better compete in the U.S. wireless market, Sprint had agreed to purchase the roughly 50 percent of Clearwire that it does not already own. Additionally, Sprint agreed to a $20 billion acquisition by Japan’s SoftBank Corp. However, Dish also made a $25.5 billion offer to acquire Sprint.  Continue reading Dish Pursues Clearwire: Could Complicate Sprint Nextel Plans