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Netflix to expand further after passing 50 mln customers
2014-07-22 08:55:00| Telecompaper Headlines
(Telecompaper) Netflix reported second-quarter results slightly better than expected, while announcing the milestone of 50 million subscribers for its streaming video service. The group's streaming revenues rose to USD 1.146 billion from USD 837 million a year ago, as the number of subscribers hit 50.05 million at the end of June. Net profit more than doubled to USD 71 million or USD 1.15 per share, better than the company's outlook of USD 69 million and EPS of USD 1.12. Netflix's growth was driven by its international activities, with the net addition of 1.12 million new streaming customers for a total 13.80 million outside the US. The US base increased by 0.57 million to 36.24 million at the end of June. The rapid growth abroad reduced the loss from the international activities to USD 15.3 million in Q2 and helped convince Netflix to continue the expansion. The company confirmed it will launch in Germany, France, Austria, Switzerland, Belgium and Luxembourg in September. The cost of the launch will swell the international loss to an estimated USD 42 million in Q3. Netflix forecast a net profit for the third quarter of around USD 55 million and revenues at USD 1.224 billion.
Tags: customers
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mln
Liberty Global buys 6.4% of ITV for GBP 481 mln
2014-07-17 09:01:00| Telecompaper Headlines
(Telecompaper) International cable company Liberty Global has acquired 259.8 million shares in UK terrestrial broadcaster ITV from British Sky Broadcasting for approximately GBP 481 million. The investment gives Liberty an around 6.4 percent stake in ITV. Liberty Global will fund the purchase through existing liquidity and a loan linked to a hedging transaction secured by ITV shares. No regulatory approval is required with this level of investment. Liberty Global said it does not intend to make an offer to acquire ITV but reserves the right to announce an offer or participate in an offer for ITV within the next six months. CEO Mike Fries described the move as an opportunistic and attractive investment in Liberty Global's largest cable market.
Verizon adds 1.4 mln postpaid customers in Q2
2014-07-11 09:00:00| Telecompaper Headlines
(Telecompaper) Verizon Communications announced continued customer growth in the second quarter. CEO Lowell McAdam said at the Allen & Company conference in Idaho that Verizon Wireless added more than 1.4 million retail postpaid customers in the quarter. This included strong smartphone additions, company-record tablet additions and net additions for handsets. He said Verizon would report "very good" retail postpaid churn for Q2. The wireless division's margins also were in line with the last several quarters, and the wireline margin improved compared to Q1. Verizon will report Q2 2014 results on 22 July.
Tags: customers
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verizon
q2
UPDATE 3-U.S. court rejects AU Optronics appeal of $500 mln fine
2014-07-11 06:20:03| Electronics - Topix.net
A U.S. court on Thursday rejected an appeal by Taiwan-based AU Optronics Corp of the $500 million criminal fine the company was ordered to pay in 2012 after a conviction for price-fixing in the market for liquid crystal display panels.
Tags: update
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Top EU court upholds Telefonica's EUR 152 mln antitrust fine
2014-07-10 14:59:00| Telecompaper Headlines
(Telecompaper) The European Court of Justice (ECJ) has upheld a fine of EUR 151.9 million imposed on Telefonica for abusing its dominant position in the Spanish broadband market from 2001 to 2006. Telefonica had appealed an earlier decision by the General Court that it must pay the fine first imposed by the European Commission back in July 2007. "In today's judgment, the Court dismisses Telefonica's appeal in its entirety," said the ECJ in a statement, adding that the incumbent operator's behaviour had resulted in "potential anticompetitive effects that may have excluded competitors, who were at least as efficient as Telefonica, which is sufficient to establish that the practice of squeezing margins was abusive." The 2007 fine was the largest ever imposed on a telecoms operator in Europe and referred to Telefonica's conduct in the local broadband market between 2001 and 2006. The EC claimed Telefonica had deliberately charged regional and national wholesale rates to competitors that were too close to retail prices, thus forcing its rivals to make losses if they wanted to match Telefonica's prices. At the time the Commission said the size of the fine matched the "gravity and duration" of Telefonica's breach of EU law, which harmed competitors, consumers and businesses alike.
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