Apple rings up record Q1 iPhone sales, but still disappoints Wall Street

Record iPhone sales just aren't enough.

Apple on Monday reported record revenue for the fiscal first quarter as it sold more iPhones and iPads than ever. However, the company sold fewer iPhones than Wall Street analysts expected, and it also projected weak revenue for the current period.

"Our objective has always been to make the best and not the most," CEO Tim Cook said during a conference call with analysts. "We feel like we're doing that."

The Cupertino, Calif., electronics giant said it sold a record 51 million iPhones, but analysts had expected 55 … Read more

Microsoft beats the Street: Earns $5.2B in Q1, Surface sales now $400M

Microsoft capped one of the more tumultuous quarters in its corporate history handily beating earnings and sales estimates for its 2014 fiscal first quarter.

With Wall Street looking for 54 cents per share, the company came in at 62 cents per share as Microsoft posted net income of $5.24 billion for the three-month period ended September 30. Ditto on the revenue side, with the company's $18.5 billion in sales besting the $17.8 billion consensus estimate.

In after hours trading, shares shot up more than 6 percent.

"Our devices and services transformation is progressing and we … Read more

Facebook's Q1 by the numbers

Facebook's Q1 results are in and there's food for both bulls and bears to chew over. One bullet point in particular stands out: The number of people using the social network via smartphones and tablets soared 54 percent from a year earlier. Here's the year-over-year comparison to the same quarter in 2012. (We'll update the stats after Facebook's conference call gets underway this afternoon.)

Daily active users: 665 million, up 26 percent Monthly active users: 1.11 billion up 23 percent Mobile monthly active users: 751 million, up 54 percent Instagram: 100 million monthly active … Read more

IBM earnings fall short as mainframe deals slip

IBM's first quarter fell short of expectations as deals slipped into the second quarter. IBM's comments about a poor finish to the first quarter is becoming a common refrain among enterprise technology companies.

The company reported first-quarter earnings of $3 billion, or $2.70 a share, on revenue of $23.4 billion, down 5 percent from a year ago. Non-GAAP earnings for the first quarter were $3 a share.

IBM was expected to report first-quarter earnings of $3.05 a share on revenue of $24.6 billion.

CEO Ginni Rometty said that the company saw a strong start … Read more

Google Q1 blowout on 31 percent sales increase feeds after-hours stock rally

Google's revenues soared 31 percent in the company's first quarter, which ended March 31, to $13.97 billion. The company's operating income, on a non-GAAP basis, rose to $4.2 billion from $3.94 billion a year earlier.

"We had a very strong start to 2013, with $14.0 billion in revenue, up 31 percent year-on-year," said Larry Page, CEO of Google. "We are working hard and investing in our products that aim to improve billions of people's lives all around the world."

Shares of Google closed down more than 2 percent … Read more

Yahoo Q1: Revenue disappoints as display ads dive

Shares of Yahoo fell sharply in after-hours trading today after the company's first-quarter earnings revealed a sharp fall in display advertising revenue.

Yahoo's earnings rose 26 percent to $420 million in the first quarter of 2013 after stripping out onetime charges on essentially flat sales.

Wall Street had expected a 9 percent increase in net income on 2 percent sales growth. Revenue, excluding traffic acquisition costs, was $1.07 billion for the first quarter of 2013, flat compared to the first quarter of 2012.

Non-GAAP net earnings per diluted share was 38 cents in the quarter compared to … Read more

HP's Whitman: No plans to break up company

During Hewlett-Packard's first-quarter earnings conference call, CEO Meg Whitman clarified the company's "better together" strategy.

"We have no plans to to break up the company," Whitman said, in response to a question from an analyst. "I feel quite strongly that we are better and stronger together."

She reiterated this was part of HP's "better together" strategy. In short, Whitman is saying that HP as a whole is more than the sum total of its parts.

There has been speculation in the past weeks that HP's board is reconsidering … Read more

HP beats expectations, raises outlook

Hewlett-Packard delivered better-than-expected first-quarter results, raised its outlook for the second quarter, and said it has "disruptive innovations" on tap in coming quarters.

The disruptive innovation comment from CEO Meg Whitman likely revolved around Project Moonshot, the company's ARM-based server designed for hyperscale environments.

HP reported first-quarter earnings of $1.6 billion, or 63 cents a share, on revenue of $28.4 billion, down 6 percent from a year ago. Non-GAAP earnings in the first quarter were 82 cents a share. Wall Street was looking for first-quarter earnings of 71 cents a share on revenue of $27.… Read more

Eating your own, Microsoft style

Eat your own, or somebody else will. That's the new mantra in the device world.

Here's what Apple said this week on that topic.

In terms of cannibalization and how we think about this, I see cannibalization as a huge opportunity for us. One, our base philosophy is to never fear cannibalization. If we do, somebody else will just cannibalize it and so we never fear it. --Tim Cook.

This was said in response to an analyst's question during the company's first-quarter earnings conference call. Earlier in the call, Apple, in its prepared remarks, said that … Read more

Apple's post-earnings stock slide continues

Shares of Apple continued to slide today, edging toward levels the stock hasn't touched since last January.

After opening down more than 10 percent this morning at $460.46 a share, the stock closed at $450.46, down $63.55, or 12.36 percent. It's the largest single-day percentage drop since 2008 for the company's shares, and follows yesterday's earnings report that missed Wall Street's expectations.

As mentioned in previous coverage, Wall Street is skittish about Apple's flat profits, as well as its guidance for the next quarter, which came in between $2.5 … Read more