Yup, that headline does sound crazy, but the numbers do not lie. Based on the most recent quarterly earnings report that Sprint has just released recently, the major US wireless carrier actually managed to record its first profit in three years time, and the company accomplished that during the same quarter (Q2 2017) that it started offering one whole year of free wireless service. Along the way, the mobile operator also gained 61,000 net new customers.
Things may not be going so well for LG’s smartphone business. The South Korean phone maker recently acknowledged that its current flagship offering -- the G6 -- has not sold as well as anticipated. According to the results of its latest quarterly earnings report, the whole company was able to register an operating income of $588.2 million on overall revenue of $12.89 billion.
Although Apple managed to sell 50.8 million units of iPhone devices during the first three months of this year, that unit sales figure still failed to clear the 51.4 million units sold projected by Wall Street. Still, in terms of revenue, the $2.10 per share earnings (on revenue of $52.9 billion) posted by the tech giant was better than the $2.02 per share earnings (on revenue of about $53 billion) estimated by industry watchers.
2016 was a forgettable year for Apple -- the phone maker after all saw its iPhone sales decrease for the first ever in its history last year, leading some to think that the company might not be that mighty after all. But after a robust holiday season, Apple seems to have regained its bearings, and analysts from Wall street appear to agree.
The last three months of any given year is always a good time for Apple. But the final quarter of 2016 was a record breaking one for the tech giant. In that period, the company registered its best ever quarterly iPhone sales (thanks to the iPhone 7 and the iPhone 7 Plus), selling 78.3 million units of its smartphone devices. On top of that, Apple also managed to end its streak of declining iPhone sales which has been going on for three consecutive quarters. Moreover, Apple also posted its highest earning quarter ever, both in terms of revenue and earnings per share.
It has been a couple of years since Apple introduced its iPhone 6, its most successful iPhone release ever. Fast forwarding to 2016 and the tech giant never really quite managed to replicate that level of success. What is worse is that sales seem to be getting slower every quarter. Sure, the iPhone 6 was a record setting release for the company and it would really be hard to top that, but in recent quarters, it has been getting more difficult for Apple to generate some smartphone sales growth.
AT&T confirmed over the weekend that it will be acquiring Time Warner for a sum of $85.4 billion, which makes it one of the most expensive acquisitions in history. The merger will be done via a half stock, half cash deal, and both companies are expecting the acquisition to be finalized by the end of next year.
If regulators approve this deal, it would mean that AT&T would gain ownership of Time Warner’s treasure trove of content, which includes CNN, HBO, Cartoon Network, Adult Swim, Warner Bros, New Line Cinema, TNT, and TBS.
Back in July earlier this year, we reported about Verizon Wireless’ plans to acquire Yahoo for $4.83 billion. In recent weeks however, Yahoo has hit some headlines that frankly does not do itself some favors. What we are referring to, of course, is the massive hack on Yahoo that could be considered the biggest one of its kind in history. The hack exposed the account details of at least 500 million customers.
Sprint has filed its preliminary quarterly financials with the Securities and Exchange Commission (SEC) just recently, and the results are mainly positive. The major US wireless carrier reported 344,000 net postpaid customer additions during the third quarter of this year, as well as registering 347,000 net postpaid phone additions, comfortably surpassing the 275,000 mark projected by Wells Fargo Securities.
For Apple, releasing the iPhone SE was not such a bad idea after all. The tech giant normally releases new iPhone models during the later part of any given year, but the iPhone SE was a departure of that norm, having been introduced back in March early this year.
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