AMD Posts Financial Results for Q2 2014

Subject: General Tech | July 17, 2014 - 08:37 PM |
Tagged: quarterly earnings, GCN, financial results, APU, amd

Today, AMD posted financial results for its second quarter of 2014. The company posted quarterly revenue of $1.44 billion, operating income of $63 million, and ultimately a net loss of $36 million (or $0.05 loss per share). The results are an improvement over both the previous quarter and a marked improvement over the same quarter last year. 

The chart below compares the second quarter results to the previous quarter (Q1'14) and the same quarter last year (Q2'13). AMD saw increased revenue and operating income, but a higher net loss versus last quarter. Unfortunately, AMD is still saddled with a great deal of debt, which actually increased from 2.14 billion in Q1 2014 to $2.21 billion at the end of the second quarter. 

  QoQ   YoY  
  Q2 2014 Q1 2014 Q2 2014 Q2 2013
Revenue $1.44 Billion $1.40 Billion $1.44 Billion $1.16 Billion
Operating Income $63 Million $49 Million $63 Million ($29 Million)
Net Profit/(Loss) ($36 Million) ($20 Million) ($36 Million) ($74 Million)

The Computing Solutions division saw increased revenue of 1% over last quarter, but revenue fell 20% year over year due to fewer chips being sold.

On the bright side, the Graphics and Visual Solutions group saw quarterly revenue increase by 5% over last quarter and 141% YoY. The massive YoY increase is due, in part, to AMD's Semi-Custom Business unit and the SoCs that have come out of there (including the chips used in the latest gaming consoles).

Further, the company is currently sourcing 50% of its wafers from Global Foundries.

“Our transformation strategy is on track and we expect to deliver full year non-GAAP profitability and year-over-year revenue growth.  We continue to strengthen our business model and shape AMD into a more agile company offering differentiated solutions for a diverse set of markets.”

-AMD CEO Rory Reed

AMD expects to see third quarter revenue increase by 2% (plus or minus 3%). Following next quarter, AMD will begin production of its Seattle ARM processors. Perhaps even more interesting will be 2016 when AMD is slated to introduce new x86 and GCN processors on a 20nm process. 

The company is working towards being more efficient and profitable, and the end-of-year results will be interesting to see.

Also read: AMD Restructures. Lisa Su Is Now COO @ PC Perspective

Source: AMD

Intel Reports 2013 Financial Results, Plans to Cut 5% of Workforce

Subject: General Tech | January 17, 2014 - 09:49 PM |
Tagged: quarterly earnings, Intel, financial results, earnings

Intel has released financial results for the full year and fourth quarter of 2013. According to Intel CEO Brian Krzanich, the company had a "solid fourth quarter." Although full year revenue and net income fell, there was a slight increase in Q4 net income and revenue YoY compared to Q4 2012.

Intel Logo.jpg

In 2013 Intel had $52.7 billion in total revenue along with $12.3 billion operating and $9.6 billion net income. Compared to the previous year (2012), Intel's revenue fell 1% while operating income and net income fell 13% and 16% respectively. Specifically of interest to the PC Perspective readers, the PC Client Group had 2013 revenue of $33.0 billion which was down 4% versus 2012.

  Quarterly Comparison   Yearly Comparison  
  Q4 2012 Q4 2013 YoY Change 2012 2013 YoY Change
Revenue $13.5 $13.8 +3% $52.7 $53.3 -1%
Operating Income $3.2 $3.5 +12% $12.3 $14.6 -16%
Net Income $2.5 $2.6 +6% $9.6 $11 -13%
Gross Margin 58% 62% +4 62.1% 59.5 -2.3

All $ figures are in billions (USD).

As far as the previous quarter (Q4 2013) alone, Intel made revenue of $13.8 billion which was a 3% increase versus the same quarter in 2012. Quarterly net income also increased 6% YoY to $2.6 billion.

Looking forward into 2014, Intel estimates revenue for the first quarter (Q1 2014) to be $12.8 billion. Unfortunately, Intel plans to cut approximately 5,000 jobs (specifically 5% of its workforce) in 2014 despite the "solid" company performance.

You can find more information in this Intel press release.

Source: Intel

US Cellular Releases Q2 2013 Financial Results

Subject: General Tech | August 3, 2013 - 03:56 PM |
Tagged: us cellular, smartphone, wireless carrier, financial results

US Cellular recently released financial results for the second quarter of 2013. US Cellular, a Chicago-based company, serves approximately 5 million wireless customers in 23 states. It reported second quarter revenue of $911 million, net income of $143.4 million, and Earnings Per Share (EPS) of $1.69.

US Cellular Logo.jpg

Compared to the same period last year, US Cellular saw decreased revenue ($1.03 billion in Q2 2012), but increased net income and EPS versus the $52.7 million and $0.62 in Q2 2012 respectively.

Included in the recently-ended second quarter results is $480 million in cash from the de-consolidation "Divesture Transaction" deal.

Looking towards the second half of 2013, US Cellular plans to add Apple devices to its lineup and continue the build out of its 4G LTE cellular network. According to US Cellular, the company expects to see 2013 yearly revenue of $3.615 to $3.715 billion and annual income of up to $700 million.

More information can be found in the press release.

Source: US Cellular

Logitech Announces First Quarter Fiscal Year 2014 Financial Results

Subject: General Tech | July 26, 2013 - 09:12 PM |
Tagged: logitech, gaming, financial results

Logitech recently posted its financial results for its first quarter of fiscal year 2014. The company announced that sales went up 2% YoY to $478 million. It had a net income of $1 million and an slight operating profit. Both numbers are a step up compared to the $51 million net loss and $59 million operating loss in the same quarter last year. Q1 FY2014 saw gross margin reach 35.2% compared to 31% in Q1 FY2013.

Logitech_logo.png

While Logitech saw OEM sales drop by 6% and sales of its LifeSize division drop by 18%, overall sales increased by 5% thanks to a 12% and 4% sales increase in the Americas and Asia markets respectively. Additionally, sales fell by 3% in the Europe, Middle East, and African markets.

  Q1 FY2014 Q1 FY2013
Sales $478 million (+2%) $469 million
Net Income $1 million ($51 million)
Gross Margin 35.2% 31.1%
Retail Sales (Total) +5% -base line-
OEM Sales -6% -base line-
LifeSize Division Sales -18% -base line-

Logitech experienced the most growth in sales of its tablet accessories, PC gaming peripherals, and wireless speaker products which amounted to a 90% increase versus last year.

According to Logitech, the company expects $2 billion in sales and a $50 million operating income through the entire fiscal 2014 year. It expects to see a gross margin of 39%.

The full Logitech press release can be found over at Market Watch.

Source: Market Watch

Apple Reports Fiscal Year 2013 Third Quarter Financial Results, Sell Record Number of iPhones

Subject: General Tech | July 24, 2013 - 03:48 AM |
Tagged: OS X, mac, iphone, financial results, apple

Apple announced its financial results for its fiscal year 2013 Q3 yesterday, and it performed well. Note that Apple’s fiscal Q3 2013 quarter ended on July 29, 2013.

Apple reported fiscal Q3 2013 revenue of $35.3 billion, and net profit of $6.9 billion. That works out to $7.47 per diluted share. During this quarter, Apple held its annual WWDC, and announced new operating systems for both its mobile and desktop products. The company sold 31.2 million iPhones (a record for Q3) 14.6 million iPads, and 3.8 million Macs. It sold slightly fewer iPads and Macs than the same quarter last year, but significantly more iPhones.

Apple Logo.jpeg

Compared to the same quarter last year, Apple increased overall revenue but saw less net profit and EPS. In fiscal Q3 2012 Apple has revenue of $35 billion, net profit of $8.8 billion, and EPS of $9.32 per diluted share. In FY Q3 2012, Apple sold 26 million iPhones, 17 million iPads, and 4 million Macs.

  FY'13 Q3 FY'12 Q3 (YoY) Future Outlook
Revenue $35.3 billion $35 billion $34 to $37 billion
Net Profit $6.9 billion $8.8 billion  
EPS $7.47 $9.32  
Gross Margin 36.9% 42.8% 36 to 37%
iPhones Sold 31.2 million 26 million  
iPads Sold 14.6 million 17 million  
Macs Sold 3.8 million 4 million  

Apple has announced, as a result of its third quarter performance, a $3.05 dividend per common stock to be paid on August 15, 2013. It had $7.8 billion cash flow in FY 2013 Q3 and returned $18.8 billion of cash to shareholders in the form of dividends and share repurchases.

According to Apple, the company's outlook for its fourth quarter is promising, with expected revenue between $34 billion and $37 billion with a gross margin of between 36% and 37%. Apple expects to release both iOS 7 and OS X Mavericks later this year along with new products (like the new Mac Pro) this fall and next year.

Source: Apple

Microsoft Releases Financial Results For Fourth Fiscal Quarter 2013 (Q4'13)

Subject: General Tech | July 19, 2013 - 07:37 PM |
Tagged: windows 8, Surface RT, microsoft, financial results

Software giant Microsoft recently released its financial report for its fiscal Q4 2013 (FY13 Q4) ended June 30, 2013. The financial results cover both quarterly and yearly results.

Microsoft saw quarterly revenue of $19.09 billion of fiscal Q4 2013 as well as $77.85 billion of revenue for fiscal year 2013. Quarterly revenue of $19.09 billion fell approximately 7% from fiscal Q3 2013 revenue of $20.49 billion. Further, yearly revenue increased 6% versus fiscal year 2012.

Additionally, Microsoft had quarterly operating income and net income of $6.07 billion and $4.97 billion respectively.

Microsoft FY2013 Q4 Financial Results.png

As far as annual financial results, Microsoft’s operating income and Earnings Per Share both increased to the tune of 23% and 29% respectively versus the previous fiscal year.

The reduced performance in fiscal Q4 2013 is partially attributed to a $900 million charge for Surface RT “inventory adjustments,” and a $733 million European Commission fine which reduced operating income. On the positive side, Microsoft was able to count $782 million worth of defrred revenue from its Office Upgrade Offer.

According to the Microsoft press release:

“Our diverse business continues to deliver solid financial results, even as we navigate the evolving device market,” said Peter Klein, chief financial officer at Microsoft. “Looking ahead, we will continue to invest in long-term growth opportunities to drive our devices and services strategy forward and deliver ongoing value to shareholders.”

Looking forward, Microsoft has announced that CFO Peter Klein will be leaving the company at the end of the current fiscal year after 11 years total at Microsoft and 4 years in the Chief Financial Officer role. Further, Microsoft expects operating expenses to grow by as much as 6% over fiscal year 2014.

More information can be found in the full financial report.

Source: Microsoft

AMD Announces $1.16 Billion Revenue In Q2 2013 Fiancial Results

Subject: General Tech | July 19, 2013 - 02:23 PM |
Tagged: amd, financial results, graphics and visual solutions, x86

AMD recently released its financial results for the second quarter of 2013. AMD had a decent quarter that demonstrated the positive effects of its ongoing restructuring efforts, but the company is, unfortunately, still operating at a loss.

In Q2 2013, AMD reported revenue of $1.16 billion, a 40% gross margin, operating loss of $29 million, and a net loss of $74 million. It experienced loss per share of $0.10. Total revenue has increased 7% versus last quarter, but is still down 18% YoY (Year over Year).

Within AMD, there are two major groups that bring in revenue: the Computing Solutions group and the recently-renamed Graphics and Visual Solutions group.

The Computing Solutions group is responsible for processors while the Graphics and Visual Solutions group is responsible for all of AMD’s graphics technologies, including GPUs.

The Computing Solutions groups experienced a 12% increase in revenue versus last quarter, and a 20% decrease in revenue versus the same time last year. According to AMD, the increase in revenue is primarily due to “significantly higher” notebook shipments and an increased number of desktop and server shipments. Further, the YoY decrease is the result of lower overall unit shipments and lower processor Average Selling Prices (ASP).

While the processor division is doing better, the Graphics and Visual Solutions group saw revenue decreases versus last quarter and last year. Specifically, revenue fell 5% QoQ and fell 13% YoY. AMD reasons that the Average Selling Price of its GPUs has increased YoY while also falling versus last quarter.

During Q2 2013 (and 2013 in general), AMD announced design wins for all the major gaming consoles and Apple’s upcoming Mac Pro desktop with dual FirePro cards, released a slew of new A-Series and embedded G-Series APUs, unleashed its 5.0GHz FX-9590 Piledriver-based CPU, and launched low power Opteron X processors. AMD's performance in Q2 was the result of its continued focus on restructuring as well as "opportunities in high growth and traditioanl PC businesses" according to CEO Rory Read.

According to the company, its outlook for next quarter is a revenue increase of 22% (+/- 3%), or approximately $1.42 billion.

Source: AMD

HTC Releases Q2 2013 Results, Better than Q1 But Still Down YoY

Subject: General Tech, Mobile | July 6, 2013 - 01:13 AM |
Tagged: htc, financial results, Android

Taiwanese smartphone manufacturer HTC has released financial results for its Q2 2013. All things considered, HTC had a good quarter, but it is still far from reaching the performance of the prior year.

HTC had quarterly revenue of approximately $2.35 billion (NT $70.7 billion), net income of $41.5 million (NT $1.25 billion), and Earnings Per Share (EPS) of $0.05 (NT $1.50).

HTC One Android Smartphone.jpg

The previous quarter (Q1'13) saw HTC achieve revenue of $1.42 billion (NT $42.8 billion), net profit of $2.82 million (NT $85 million), and EPS of $.003 (NT $0.10). The company's HTC One smartphone is likely a contributor to the improved performance QoQ.

Year over Year (YoY), HTC is still down quite a bit. In Q2 of 2012, HTC had revenue of $3.02 billion (NT $91.04 billion), net profit of $245.6 million (NT $7.4 billion), and EPS of $0.30 (NT $8.90). The following chart shows the figures in USD in a handy table.

  Q2 2013 Q1 2013 Q2 2012
Revenue $2.35 Billion $1.42 Billion $3.02 Billion
Net Income $41.5 Million $2.82 Million $245.6 Million
Earnings Per Share $0.05 $0.003 $0.30

YoY, HTC's Q2 revenue is down about 22% while net profit and EPS are both down about 83% respectively. The recent financial report is not all bad news, however. HTC is recovering from its fall and saw a positive increase over the first quarter of 2013 with 65.5% higher quarterly revenue. Profit and EPS also saw a massive jump over the previous quarter. The HTC announcement did not include and outlook for investors, but the company is refocusing on quality hardware and had a positive quarter.

Source: HTC

BlackBerry Reports $84 Million Operating Loss In First Fiscal Quarter 2014

Subject: General Tech, Mobile | July 2, 2013 - 12:22 AM |
Tagged: RIM, financial results, blackberry, BES10, BB10

BlackBerry (the company formerly known as RIM) recently posted its financial report detailing performance in the first fiscal quarter 2014. Unfortunately, it did not perform nearly as well as investors hoped. BlackBerry experienced increases in quarterly revenue and units shipped, but it still ended up with a hefty operating loss.

Specifically, at the end of fiscal Q1 2014, BlackBerry reported revenue of $3.1 billion with 6.8 million devices shipped and an operating loss of $84 million. The $3.1 billion in revenue is a 15% increase versus the previous quarter ($2.9 billion) and a 9% increase YoY (year over year). Despite the operating loss (which is actually an improvement over the $518 million operating loss in the previous year), BlackBerry still managed to ship 6.8 million units, which is 13% increase versus the previous quarter. BlackBerry did not detail how many of those devices where BB10 devices, but it is estimated to be 2.7 million of the 6.8 million devices shippped versus 1 million BB10 devices shipped in the previous quarter. At least BB10 is gaining some small amount of traction. Among those BlackBerry devices shipped in Q1'14, the company did state that it shipped 100,000 BlackBerry PlayBook tablets.

Speaking of the PlayBook, the company had to break its promise to users with the statement that it would not be providing an update for the tablets to its latest BlackBerry 10 operating system. The reason given was that the company ran into performance issued on the PlayBook hardware when attempting to get BB10 running, and because they were not able to get it running smoothly they are not giong to release any update after all.

Needless to say, investors where not pleased with the performance of the company or of BlackBerry 10 which (despite being an interesting mobile OS) has not caught on like many had hoped. Instead, the BlackBerry OS is reported to occupy fourth place in the market behind Android, iOS, and even Windows Phone. BlackBerry's stock price dropped as much as 26% following the release of the financial report, according to GSMArena.

According to the company, the following quarter will see improvements, but it will still be operating at a loss. BlackBerry will continue to forge ahead with BlackBerry 10 OS and the accompanying hardware. The company will further development of BlackBerry 10, BlackBerry Enterprise Services (BES) 10, and a cross-platform version of its BlackBerry Messenger (BBM) social messaging client. Handsets are going to be the focus with no new tablets. Finally, BlackBerry is going to continue focusing on cost cutting and company streamlining efforts to reduce overhead and other expenses.

The full financial report is available here on the BlackBerry website.

It is not all bad news. BlackBerry still has a fighting chance and I hope they can turn things around and make the new BlackBerry a success. What do you think about BlackBerry's performance so far this year/ Have you seen any BB devices being used instead of the typical iPhone or Android handset?

Source: BlackBerry

NVIDIA Releases First Fiscal Quarter 2013 (Q1’13) Results

Subject: General Tech | May 9, 2013 - 04:50 PM |
Tagged: tegra 4, nvidia, grid, financial results

NVIDIA has released the results of its first fiscal quarter of 2014. Overall, NVIDIA had a positive first quarter with total revenue of $954.7 million and a net income of $77.9 million. During Q1 2014 the company announced its Grid VCA for enterprise customers and Tegra 4 and Tegra 4i for the mobile market. NVIDIA’s shareholders saw an Earnings Per Share (EPS) of 13 cents, which is up 30% versus the same quarter last year. Interestingly, NVIDIA has announced that it will be returning $1 billion to shareholders through increased dividends and buying back shares.

Nvidia_logo.png

Q1 2014 is an interesting quarter, as it is up year over year, but down significantly versus the previous quarter (Q4’13). NVIDIA’s Q1’14 revenue of 954.7 million is up YOY 32% from $924.9 million in Q1’13, but down 13.7% from $1.1 billion in the previous quarter. The dip is likely attributable to the fact that its Q1’14 is the quarter after the holiday rush at the end of Q4. Considering it is still up versus last year, the dip versus last quarter shouldn’t be taken as a bad sign. Net income follows a similar pattern, with net income down 53.2% versus last quarter’s $174 million, but up 29% YOY (Q1’13 net income was $60.9 million).

The financial results seem to indicate that NVIDIA is continuing to grow and remain profitable. According to NVIDIA, the company expects to see operating expenses and revenue increase in Q2’14 to $448 million in and approximately $975 million respectively. Further, NVIDIA expects growth to continue throughout 2014 as it launches new Tegra 4(i) SoCs and expands its server/business offerings with its GRID technologies.

You can find NVIDIA's full financial report on the company's website.

Source: NVIDIA