Tag Archives: Third

Oracle sees strong third quarter on cloud strength, share rise
December 18, 2018 12:01 am|Comments (0)

(Reuters) – Oracle Corp on Monday forecast current-quarter profit above estimates after growth in its cloud services and license support unit helped the business software maker surpass Wall Street expectations for the second quarter.

FILE PHOTO: People gather prior to the start of a keynote speech at the All Things Oracle OpenWorld Summit in San Francisco, California September 24, 2013. REUTERS/Jana Asenbrennerova/File Photo

Shares rose 5 percent, with the company saying that excluding fluctuations in exchange rates, it expected third-quarter adjusted profit to be between 86 cents and 88 cents per share.

Analysts on average were expecting 84 cents, according to IBES data from Refinitiv.

Revenue at its cloud services and license support unit, its biggest, rose 2.7 percent to $ 6.64 billion and beat analysts’ estimate, as more companies shifted to cloud computing from the traditional on-premise database model to cut costs.

Oracle’s in June created a new revenue reporting structure that merged its cloud and software license businesses, which analysts have said gives little insight into the standalone performance of its cloud unit.

Oracle is a late entrant to the rapidly growing cloud-based software business, but has aggressively stepped up its efforts to catch up with rivals such as Workday Inc, Microsoft Corp and Salesforce.com Inc.

“Oracle’s growth in cloud services and license support of just 3 percent appears to be contradicting the strength in the overall cloud market,” said Daniel Morgan, senior portfolio manager of Synovus Trust Co, which hold 152,500 shares in the company.

Last month, Workday reported a 35 percent jump in cloud subscription revenue, while Salesforce’s flagship product Sales Cloud grew 11 percent.

“Oracle is still dragging behind other old line enterprise software players like Microsoft in its transition to becoming a top cloud company,” said Morgan, whose firm also hold shares in Salesforce and Microsoft Corp.

The company’s net income rose to $ 2.33 billion, or 61 cents per share, in the second quarter ended Nov. 30. Excluding items, the company earned 80 cents per share, beating the average analyst estimate of 78 cents.

Total revenue fell marginally to $ 9.56 billion, but brushed past analyst expectation of $ 9.52 billion.

Shares of the company were up at $ 48 in after-market trading.

Reporting by Vibhuti Sharma in Bengaluru; Editing by Arun Koyyur

Tech

Posted in: Cloud Computing|Tags: , , , , , , , ,
Fitbit Shares Jump 10% On Higher-Than-Expected Third Quarter Sales
November 1, 2018 12:00 am|Comments (0)

Sales to healthcare plans helped wearable maker Fitbit surprise Wall Street in the latest quarter and lift its shares from the basement.

Revenue from healthcare customers, which the company has yet to disclose by dollar amount, grew 26% in the third quarter from the same period a year ago. The business includes sales of Fitbit’s wearable devices, as well as software and services, to health plan providers and directly to some employers.

But overall revenue rose a mere 0.3%, as the company is still working to get back on track after sales of its main product, simple fitness trackers, stalled out over the past few years.

Nevertheless, investors were pleased that the company’s sales were at least stable after declining in the first half of the year. Fitbit’s (fit) shares, which hit an all-time low of $ 4.23 earlier this week, gained 7% in Wednesday’s regular trading and another 10% in extended trading after the earnings report, to $ 5.18.

Fitbit CEO James Park tells Fortune that the company will offer more details about its healthcare segment in coming quarters. “We’re calling it out now because it’s demonstrating a lot of traction and growth,” he said. Many plans use the fitness trackers to help users who have chronic diseases stay on top of their health and medication, he explained. “We’re really capitalizing on that growing need.”

About 1,600 health plans and other organizations are buying Fitbit products already. Last month, Humana (hum) expanded a partnership with Fitbit to include Fitbit Care, the company’s new virtual health coaching service built off of technology it acquired by buying Twine Health in February. Coaches can offer users health advice via an app, on the phone, and in person.

Still sales of simple fitness trackers, Fitbit’s original business, peaked several years ago. The drop has pummeled the company’s revenue.

Although the extra growth from healthcare helped Fitbit’s overall third quarter sales, they remained essentially flat at $ 394 million. But that was enough to beat the $ 381 million that analysts had expected as did adjusted profits of 4 cents per share, which were modestly higher than the 1 cent loss that had been expected.

In terms of profit on the basis of generally accepted accounting principles, Fitbit lost 1 cent per share, or $ 2.1 million.

Fitbit’s healthcare effort comes as some studies have recognized that wearables and the “gamification” of wellness can prompt people to exercise more and live healthier lives. That in turn has prompted some health plans and large employers to partner with the company and buy fitness trackers for workers along with software and services to track their progress. Apple (aapl) is also aiming at that segment with its Apple Watch.

Park’s decision to get Fitbit into the smartwatch market last year also paid big dividends. The company’s strong-selling Versa smartwatch, along with its less popular Ionic watch, grabbed $ 193 million of revenue, almost half of the total for the quarter and up from $ 165 million in the second quarter. Fitbit smartwatches outsold all other vendors except Apple in the U.S. market in the quarter, Park said.

Apple this year added several new health features, including an EKG reader and a fall detection system, to its smartwatch. Park wouldn’t say exactly how Fitbit would match Apple’s moves, but hinted the company had some new healthcare features of its own, coming soon.

“We are very focused on adding more advanced health capability to our products over time,” he said. “We are in clinical studies and validation for a few deeper health conditions such as sleep apnea and (Atrial fibrillation) and we’re working with the proper regulatory agencies to get that into the hands of consumers. as soon as we can.”

Tech

Posted in: Cloud Computing|Tags: , , , , , ,
Charter signs up more internet subscribers in third quarter
October 26, 2018 12:00 pm|Comments (0)

FILE PHOTO – A Charter Communications company service van is pictured in Pasadena, California U.S., January 26, 2017. REUTERS/Mario Anzuoni

(Reuters) – Charter Communications Inc said it added more internet subscribers than Wall Street had expected in the third quarter, offsetting a drop in video subscribers that was also less severe than expected.

The company added 266,000 residential internet customers in the third quarter, above the consensus estimate of 234,000, according to research firm FactSet.

Net income attributable to shareholders was $ 493 million, or $ 2.11 cents per share, in the quarter ended Sept. 30, compared with $ 48 million, or 19 cents per share, a year earlier.

Total revenue rose 4.1 percent to $ 10.89 billion from $ 10.46 billion. Analysts had expected the company to report revenue of $ 10.94 billion, according to Refinitiv data.

Reporting by Akanksha Rana in Bengaluru; Editing by Saumyadeb Chakrabarty

Tech

Posted in: Cloud Computing|Tags: , , , , , ,
Twitter ad sales surge in third quarter, shares jump
October 25, 2018 12:01 pm|Comments (0)

NEW YORK (Reuters) – Twitter Inc posted revenue and profit ahead of Wall Street estimates on Thursday, as higher advertising sales offset a drop in monthly users to push the company’s shares up nearly 12 percent before the opening bell.

People holding mobile phones are silhouetted against a backdrop projected with the Twitter logo in this illustration picture taken in Warsaw September 27, 2013. REUTERS/Kacper Pempel/Illustration/File Photo

Quarterly advertising revenue jumped 29 percent from a year earlier to $ 650 million, boosted by advertiser interest in broadcasts from media companies including Live Nation Entertainment, Major League Baseball and Major League Soccer.

That drove a similar rise in overall revenue from a year earlier to $ 758 million, beating an average analyst estimate of $ 702.6 million, according to Refinitiv data. The company reported adjusted profit of 21 cents per share, well above an average forecast of 14 cents.

However, Twitter posted a larger-than-expected decline in monthly active users in the third quarter, its second straight quarterly drop, and predicted the figure would fall again in the fourth quarter.

It blamed the declines in users on efforts to clean up the site from suspicious users, including accounts used in political influence operations, as well as its response to new privacy regulations in the European Union.

Monthly active users fell to 326 million in the third quarter, below the average analyst forecast of 331.5 million, according to FactSet. Twitter said it expects them to drop below 326 million in the current quarter, missing the average forecast of 333.4 million.

Twitter is fighting for its reputation by cutting and blocking fake users, but the toll on traffic is undermining faith in is ability to grow. Recent business progress has focused on getting current users to click on more ads, which has helped Twitter turn to a profit.

An illustration picture shows the Twitter logo reflected in the eye of a woman in Berlin, November 7, 2013. REUTERS/Fabrizio Bensch/Illustration/File photo

Analysts have warned that Twitter needs to stem declines in user growth so it can better compete for ad spending with rivals including Alphabet Inc’s Google, and Facebook Inc. Investors pay close attention to monthly user data because it is seen as a key indicator of future revenue, the bulk of which comes from ad sales.

Twitter’s usage has been stagnant for more than a year, causing analysts to worry that growth may have peaked.

Those concerns have been somewhat offset by increases in advertising sales from video which suggest the company is succeeding in efforts to generate more cash from each user.

Investors are looking to understand the financial impact of Twitter’s moves to clean up its platform by deleting accounts used for fraud, hate speech and election interference.

Twitter has removed millions of suspicious accounts this year including those that belong to Alex Jones and his conspiracy site Infowars.

“We’re doing a better job detecting and removing spammy and suspicious accounts at sign-up,” Chief Executive Jack Dorsey said in a statement.

Twitter said the number of its daily active users rose by 9 percent year-on-year, weaker than an 11 percent jump in the previous quarter and its slowest growth rate in two years. The company does not disclose the total number of daily users.

Twitter shares tumbled 19 percent when the company reported quarterly results on July 27. Its stock has fallen 36 percent since that earnings report, compared to a 6.4 percent decline in the S&P 500 index.

Of the 40 analysts polled by FactSet, 10 have a buy rating on the stock while 24 have a hold rating. Six have a sell rating. The average target price is at $ 32.91, about 16 percent higher Tuesday’s close of $ 27.54.

Reporting by Angela Moon and Munsif Vengattil; Editing by Jim Finkle and Patrick Graham

Tech

Posted in: Cloud Computing|Tags: , , , , , ,
Azure Stack’s third technical preview arrives
March 28, 2017 8:15 pm|Comments (0)

Azure Stack, Microsoft’s hybrid cloud system, is getting close to release. On Wednesday, the tech giant unveiled the third major public beta for customers that want to test it out.

The new release brings a handful of additional capabilities for users to test, like support for Azure D-Series virtual machine sizes and deployment with ADFS (Active Directory Federation Services) to support systems that don’t have constant connections to Azure. Technical Preview 3, as this release is known in Microsoft parlance, will get a handful of other features over the coming months, including support for Azure Functions and Active Directory multi-tenancy.

To read this article in full or to leave a comment, please click here


RSS-5

Posted in: Web Hosting News|Tags: , , , , ,
Azure Stack’s third technical preview arrives
March 24, 2017 11:35 pm|Comments (0)

Azure Stack, Microsoft’s hybrid cloud system, is getting close to release. On Wednesday, the tech giant unveiled the third major public beta for customers that want to test it out.

The new release brings a handful of additional capabilities for users to test, like support for Azure D-Series virtual machine sizes and deployment with ADFS (Active Directory Federation Services) to support systems that don’t have constant connections to Azure. Technical Preview 3, as this release is known in Microsoft parlance, will get a handful of other features over the coming months, including support for Azure Functions and Active Directory multi-tenancy.

To read this article in full or to leave a comment, please click here


RSS-4

Posted in: Web Hosting News|Tags: , , , , ,
Azure Stack’s third technical preview arrives
March 19, 2017 11:15 am|Comments (0)

Azure Stack, Microsoft’s hybrid cloud system, is getting close to release. On Wednesday, the tech giant unveiled the third major public beta for customers that want to test it out.

The new release brings a handful of additional capabilities for users to test, like support for Azure D-Series virtual machine sizes and deployment with ADFS (Active Directory Federation Services) to support systems that don’t have constant connections to Azure. Technical Preview 3, as this release is known in Microsoft parlance, will get a handful of other features over the coming months, including support for Azure Functions and Active Directory multi-tenancy.

To read this article in full or to leave a comment, please click here


RSS-5

Posted in: Web Hosting News|Tags: , , , , ,
Azure Stack’s third technical preview arrives
March 18, 2017 10:00 pm|Comments (0)

Azure Stack, Microsoft’s hybrid cloud system, is getting close to release. On Wednesday, the tech giant unveiled the third major public beta for customers that want to test it out.

The new release brings a handful of additional capabilities for users to test, like support for Azure D-Series virtual machine sizes and deployment with ADFS (Active Directory Federation Services) to support systems that don’t have constant connections to Azure. Technical Preview 3, as this release is known in Microsoft parlance, will get a handful of other features over the coming months, including support for Azure Functions and Active Directory multi-tenancy.

To read this article in full or to leave a comment, please click here


RSS-4

Posted in: Web Hosting News|Tags: , , , , ,