Tag Archives: Estimates
FILE PHOTO – A sign for a T-Mobile store is seen in Manhattan, New York, U.S., April 30, 2018. REUTERS/Shannon Stapleton/File Photo
(Reuters) – T-Mobile US Inc on Thursday beat Wall Street estimates for quarterly revenue, as the wireless carrier added more net new phone subscribers who pay a monthly bill.
The third-largest U.S. mobile carrier said it added a net of about 1 million phone subscribers in the fourth quarter compared with 891,000 additions a year earlier. Analysts were expecting 912,000 new subscribers, according to research firm FactSet.
The company’s net income fell to $ 640 million, or 75 cents a share, in the quarter ended Dec.31, from $ 2.71 billion, or $ 3.11 a share, a year earlier, when it recorded a big tax related one-time gain.
Revenue rose to $ 11.45 billion from $ 10.76 billion. Analysts were expecting revenue of $ 11.39 billion, according to IBES data from Refinitiv.
Reporting by Akanksha Rana in Bengaluru and Sheila Dang in New York; Editing by Arun Koyyur
HONG KONG (Reuters) – Tencent Holdings (0700.HK) said on Wednesday its third-quarter net profit rose 30 percent, beating estimates, as investment gains offset a weak performance in the Chinese company’s core gaming business.
FILE PHOTO: Tencent Holdings Chairman and CEO Pony Ma (C) visits the Tencent booth following the opening ceremony of the fifth World Internet Conference (WIC) in Wuzhen, Zhejiang province, China November 7, 2018. REUTERS/Stringer/File Photo
Net profit at China’s biggest gaming and social media group in the July-September quarter rose to 23.3 billion yuan, compared with an average estimate of 19.32 billion yuan, according to 15 analysts polled by to I/B/E/S data from Refinitiv.
Revenue rose 24 percent to 80.6 billion yuan ($ 11.59 billion), the slowest quarterly growth in more than three years, in-line with estimates.
China, the world’s biggest gaming market, has been imposing tougher rules on the industry, including a halt to new game approvals since March and calls to tackle young people’s gaming addictions.
This contributed to Tencent reporting its first quarterly profit fall in more than a decade in its April-June quarter. The company also cut its gaming marketing budget.
Tencent shares, which more than doubled in 2017, have dropped by about a third so far this year, wiping about $ 165 billion in value from the group’s market value.
In the third quarter, Tencent benefited mainly from a more-than-doubling in net gains from its investment activities, including the initial public offering of online food delivery to ticketing services company Meituan Dianping.
Douglas Morton, Head of Research, Asia at Northern Trust Capital Markets, said the result beat was a positive surprise even if not counting the investment income.
“What the real surprise is or the real comfort for the market will be that the mobile gaming data which beat expectations,” he said.
Tencent said smartphone games revenues grew 7 percent year-on-year and 11 percent quarter-on-quarter to 19.5 billion yuan, mainly due to contributions from new games. Despite the new approval freeze, Tencent already had 15 approvals and released 10 titles in the quarter, it said in the filing.
PC games revenue dropped 15 percent year-on-year due to continued user migration to mobile games and high base in the same quarter a year ago.
Advertising revenue, which accounts for 20 percent of the company’s total revenue, rose 47 percent, supported by a 61 percent jump in social and other advertising.
Tencent said its cloud services revenues more than doubled year-on-year in the quarter while the number of paying cloud customers grew at a triple-digit percentage rate year-on-year. Cloud revenues for the first three quarters of the year exceeded 6 billion yuan, it said.
Monthly active user number of WeChat, the most popular social network in China, rose incrementally to 1.08 billion.
($ 1 = 6.9536 Chinese yuan)
Reporting by Sijia Jiang; Editing by Muralikumar Anantharaman and Jane Merriman
(Reuters) – Traffic growth on Baidu Inc’s mobile app helped drive higher-than-expected third quarter revenue as China’s biggest search engine operator places more emphasis on artificial intelligence (AI) and autonomous driving.
FILE PHOTO: A Baidu logo is seen at the Global Mobile Internet Conference (GMIC) at the National Convention Center in Beijing, China April 27, 2018. REUTERS/Damir Sagolj
Revenue rose to 28.2 billion yuan ($ 4.11 billion) from 23.49 billion yuan in the same quarter a year ago. That beat the average estimate of 27.53 billion yuan, according to Refinitiv data.
Baidu has been investing heavily in new business lines following tighter rules in China introduced in 2016 requiring search engines to make it clear which results are paid-for ads, but has said these projects may not help boost sales growth in the near term.
Baidu’s sales momentum has lagged technology peers Alibaba Group Holding Ltd and Tencent Holdings Ltd, and it has sold or closed several businesses over the past year which were in direct competition.
Baidu forecast fourth-quarter revenue of 25.48 billion yuan to 26.72 billion yuan, lower than financial analysts’ target of 27.69 billion yuan.
At the same time, Baidu has become one of China’s biggest names in AI, with its efforts endorsed by the government as well as international firms. This month, it became the first Chinese company to join an AI ethics group alongside members such as Apple Inc and Alphabet Inc’s Google.
“Baidu delivered a solid third quarter with impressive results from search, feed and new AI businesses,” said Baidu Chief Executive Robin Li.
He added that Baidu’s AI platform DuerOS saw strong adoption and Apollo, Baidu’s self-driving car technology, was now powering fully autonomous Apolong minibuses in over 10 locations.
Baidu said its AI system blocked over 430 million medical ads to combat misleading and low-quality medical advertisements in the third quarter. The stricter rules on Chinese internet advertising resulted from the death of a student who underwent an experimental cancer treatment which he found using Baidu.
Net income rose 56 percent from a year earlier to 12.4 billion yuan, the company said.
Excluding gains from the divestiture of its financial services business, Baidu posted adjusted earnings per share of 19.01 yuan versus Wall Street expectations of 16.70, according to Refinitiv data.
While the company said its Baidu App saw strong traffic in the quarter, its daily active user number dropped to 151 million in September from a peak of 161 million reached in August. The September number was up 19 percent year-on-year.
Baidu’s U.S.-listed stock was slightly lower following the results in after-hours trade on Tuesday. The stock is down over 20 percent since the beginning of the year amid a wider selloff of Chinese technology shares.
Reporting by Cate Cadell in Beijing and Jane Lanhee Lee in San Francisco; Editing by Meredith Mazzilli and Tom Brown
(Reuters) – Verizon Communications Inc (VZ.N) on Tuesday beat Wall Street estimates for net new phone subscribers who pay a monthly bill, helped by promotional offers for Apple Inc’s (AAPL.O) new iPhones.
The Verizon logo is seen on the side of a truck in New York City, U.S., October 13, 2016. REUTERS/Brendan McDermid
Apple launched the iPhone XS, XS Max and XR in September, triggering heavy promotional activity in the telecoms industry. Under Verizon’s iPhone offer, a user can buy an iPhone and get up to $ 750 off on X and XR models.
Verizon launched 5G home internet in four cities earlier this month, claiming status as the first to bring a commercial 5G product in the United States amid heated competition between major carriers.
Verizon said it added a net 295,000 phone subscribers during the third quarter, beating estimates of 161,000 new subscribers, according to research firm FactSet. [nGNXb3bkfn]
Net income attributable to the company rose to $ 4.92 billion, or $ 1.19 per share, in the third quarter ended Sept. 30, from $ 3.62 billion, or 89 cents per share, a year earlier.
On an adjusted basis, Verizon earned $ 1.22 per share, beating analysts’ estimates of $ 1.19 per share, according to Refinitiv data.
Verizon said it lost 63,000 Fios video subscribers during the quarter, more than the 18,000 it lost last year, as viewers continue to favor cheaper TV services delivered over the internet, over paying for pricier cable packages.
It added 54,000 Fios internet customers, compared to 66,000 added a year earlier.
Total operating revenue rose 2.8 percent to $ 32.61 billion during the quarter, beating analysts’ estimates of $ 32.51 billion, according to Refinitiv data.
Reporting by Akanksha Rana in Bengaluru and Sheila Dang in New York; Editing by Supriya Kurane
TAIPEI (Reuters) – Taiwan’s Foxconn, the world’s top contract electronics maker and a key Apple supplier unexpectedly posted a fall of about 40 percent in quarterly net profit on Monday.
FILE PHOTO: A shovel and FoxConn logo are seen before the arrival of U.S. President Donald Trump as he participates in the Foxconn Technology Group groundbreaking ceremony for its LCD manufacturing campus, in Mount Pleasant, Wisconsin, U.S., June 28, 2018. REUTERS/Darren Hauck/File Photo
Net profit for the three months to the end of June was T$ 17.49 billion ($ 567.42 million), the company, which is formally known as Hon Hai Precision Industry Co, said on Monday.
That compares with T$ 17.9 billion in the year ago period and was below a mean estimate of T$ 21.936 billion from 9 analysts polled by Thomson Reuters I/B/E/S.
Last month, Apple reported better-than-expected earnings, helped by sales of its pricey iPhone X. The world’s most valuable technology firm also forecast strong revenue for the autumn, when it typically launches new iPhone models.
Reporting by Meg Shen in Hong Kong; Writing by Jess Macy Yu; Editing by Himani Sarkar and Kirsten Donovan
SEOUL (Reuters) – South Korea’s LG Electronics Inc on Friday said second-quarter operating profit likely rose 16.1 percent from the same period a year earlier, falling short of market expectations.
Analysts said higher marketing expenses for new products weighed on profit.
LG, in a regulatory filing, estimated April-June profit at 771 billion won ($ 691.79 million), compared with an 821 billion won average of 10 analyst estimates in a Thomson Reuters survey.
Revenue likely rose 3.2 percent to 15 trillion won from 14.6 trillion won from a year earlier.
The firm did not elaborate on its performance and will disclose detailed earnings in late July.
Reporting by Heekyong YangEditing by Christopher Cushing
The growth is attributed to the expansion of IBM’s key businesses, which includes cloud computing and AI solutions. ( Ethan Miller | Getty Images ).