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Facebook tops Wall Street revenue target in fourth quarter
Wed, 28 Jan 2015 16:27:56 -0500

A Facebook logo reflected in the eye of a woman is seen in this picture illustrationBy Alexei Oreskovic SAN FRANCISCO (Reuters) - Facebook Inc's revenue grew 49 percent in the fourth quarter, as strength in mobile advertising helped the world's largest Internet social network beat Wall Street's target. Shares of Facebook edged up less than 1 percent to $76.80 in after hours trading. Facebook's fourth-quarter overall revenue grew at the slowest rate since the beginning of 2013, to $3.85 billion, compared to $2.59 billion in the year-ago period. Facebook said it earned 54 cents a share, excluding certain items, in the fourth quarter, beating the average analyst estimate of 49 cents.


Qualcomm cuts outlook after new chip skipped by big customer
Wed, 28 Jan 2015 16:57:52 -0500

A Qualcomm sign is pictured in front of one of its many buildings in San Diego, CaliforniaQualcomm Inc reduced its outlook for fiscal 2015, saying it expects its newest Snapdragon mobile chip will not be used in a major customer's flagship smartphone, sending its shares lower. Samsung Electronics Co Ltd , the world's top smartphone maker, decided not to use the new Qualcomm Snapdragon 810 processor for the next flagship Galaxy S smartphone after the chip overheated during testing, Bloomberg reported earlier this month. Samsung designs and makes its own line of smartphone processors, the Exynos, but the Korean company in the past has depended on Qualcomm's chips for many of its smartphones. “Qualcomm has a lot of market share but they have some customers with scale to do their own silicon, and it looks like that’s happening,” said Sanford Bernstein analyst Stacy Rasgon.


iPhone sales trample expectations as profit sets global record
Wed, 28 Jan 2015 05:47:36 -0500

Apple CEO Tim Cook looks at a new IMac after presentation at Apple headquarters in CupertinoApple Inc quarterly results smashed Wall Street expectations with record sales of big-screen iPhones in the holiday shopping season and a 70 percent rise in China sales, powering the company to the largest profit in corporate history. Apple's cash pile is now $178 billion, enough to buy IBM or the equivalent to $556 for every American. Apple Chief Financial Officer Luca Maestri told Reuters in an interview that the company did not sell more iPhones in China than the United States, despite some earlier predictions by research analysts. The company's success in the competitive Chinese market can be attributed to its partnership with China Mobile Ltd , the largest global mobile carrier, and the appeal of the larger screen size of the iPhone 6 and 6 Plus.


Icahn on CNBC says his son was right on Netflix, wished he bought more
Wed, 28 Jan 2015 13:43:14 -0500

Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network’s Neil Cavuto show in New YorkBillionaire activist investor Carl Icahn said on Wednesday that he sold Netflix Inc shares too soon, admitting that his son Brett and fund co-manager David Schechter were correct to believe the stock was significantly undervalued. Icahn sold 2.99 million shares of Los Gatos, California-based Netflix in October 2013 after the stock rose more than fivefold in 14 months. "What I was worried about and conservative about Netflix - and obviously I wished I hadn't been as conservative - was 'net neutrality.' which has seemed to go away," Icahn said in an appearance on CNBC, referring to the U.S. Federal Communications Commission's work to set new regulations for Internet service providers. "That one storm cloud has gone away so I agree completely now with Brett and Dave on Netflix.


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