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Blackstone's Profit Falls 77% in Quarter as Asset Sales Slow

2016-04-21 17:46:00| National Real Estate Investor

David Carey and Devin Banerjee Blackstones opportunistic real estate funds gained 1.8 percent and its core-plus pools appreciated 4.4 percent. read more

Tags: sales slow falls profit

Ericsson steps up cost-cutting as Q1 sales slow

2016-04-21 08:25:00| Telecompaper Headlines

(Telecompaper) Ericsson announced plans to step up its cost-cutting efforts after report first-quarter revenues fell 2 percent year-on-year to SEK 52.2 billion. The company said it saw a slowdown in Europe after completion of mobile broadband projects there last year as well as economic weakness in some emerging markets. Growth remained strong in mainland China, and sales also grew in North America and southeast Asia. The company achieved already in Q1 SEK 500 million of its targeted SEK 9 billion in cost savings, helping the operating margin improve to 6.7 percent from 4.0 percent a year ago. The higher margin came from improvements in Networks, partly offset by lower profitability in Global Services, Ericsson said. In addition to the SEK 9 billion by the end of 2017, Ericsson said it started measures in the quarter to adapt the operations to the lower mobile broadband project volumes. This will mainly affect the service delivery activities and result in higher restructuring charges this year of SEK 4-5 billion in total, versus the previous estimate of SEK 3-4 billion.

Tags: sales steps slow ericsson

The Slow, Sad Death of Yahoo

2016-04-20 15:00:00| PC Magazine: the Official John C. Dvorak RSS Feed

Look back at over two decades of turmoil at a company that once sat atop the World Wed Web, and weep.

Tags: yahoo death slow sad

Netflix posts strong customer growth in Q1, sees slow Q2

2016-04-19 08:32:00| Telecompaper Headlines

(Telecompaper) Netflix announced first-quarter results better than expected but gave a cautious outlook for the second quarter. The company added 2.30 million new streaming customers in the US and 4.51 million at its international activities, beating its own guidance of respectively 1.75 million and 4.35 million. The total number of streaming subscribers reached 47.0 million in the US and 34.5 million elsewhere, while the company also still had 4.7 million DVD rental customers. Revenues increased 24 percent to USD 1.96 billion in Q1, with growth of 17 percent in the US and 57 percent at the international business. EBITDA fell by 23 percent, and operating profit nearly halved to USD 49 million due to the costs of international expansion. Net profit was still slightly higher due to a gain. After negative cash flow of USD 261 million, Netflix ended the period with USD 1.6 billion in cash.

Tags: customer posts strong growth