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Nokia sales up 20% to EUR 3.2 bln, network profit plummets
2015-04-30 08:45:00| Telecompaper Headlines
(Telecompaper) Nokia reported first-quarter sales from continuing operations up 20 percent from a year earlier to EUR 3.2 billion, with earnings per share improving by 25 percent to EUR 0.05 a share. First-quarter profit increased 65 percent to EUR 181 million from EUR 110 million in the previous year. Nokia attributed the results to strong performance at Nokia Technologies and its mapping business Here, with year on year sales at the two units up 103 percent and 25 percent respectively to EUR 266 million and EUR 261 million. However, good growth at its main telecom networks division was offset by plummeting profitability, helping to explain why the company agreed to buy rival Alcatel-Lucent earlier this month in a proposed EUR 15.6 billion deal. First quarter sales at Nokia Solutions and Networks were up 15 percent to EUR 2.67 billion, driven by a 47 percent increase in North America and a 31 percent rise in China. However, core operating profit at the unit fell 61 percent from a year ago to EUR 85 million, or 3.2 percent of sales, compared to 9.3 percent a year earlier. Nokia said profits dropped due to lower software sales, higher research and development costs and challenging conditions in Europe and Latin America, not to mention what it described as "strategic entry deals". The company said it expected some of the negative factors to ease in the second half of 2015 and forecast full-year operating margin at the unit to be around the midpoint of its long-term target of 8 percent to 11 percent.
Tags: sales
network
eur
profit
Apple expands capital return program to USD 200 bln
2015-04-28 18:38:00| Telecompaper Headlines
(Telecompaper) Apple's board of directors has authorised an increase of more than 50 percent to the company's program to return capital to shareholders. Under the expanded program, Apple plans to use a cumulative total of USD 200 billion of cash by the end of March 2017. As part of the revised program, the board has increased its share repurchase authorization to USD 140 billion from the USD 90 billion level announced in 2015. In addition, Apple expects to continue to net-share-settle vesting restricted stock units. The board has also approved an increase of 11 percent to the company's quarterly dividend, and has declared a dividend of USD 0.52 per share, payable on 14 May, 2015 to shareholders of record as of the close of business on 11 May. To assist in funding the program, Apple said it plans to continue to access the domestic and international debt markets.
Tags: return
program
capital
usd
Xiaomi to triple mobile services revenue to USD 1 bln - CEO
2015-04-27 09:00:00| Telecompaper Headlines
(Telecompaper) Xiaomi expects to triple its revenues from mobile services such as games and a payment application to nearly USD 1 billion this year, according to CEO Lei Jun. In an interview with the Wall Street Journal coinciding with the launch of Xiaomi's fitness band, Mi Band, Lei said the company was looking to Chinese internet giant Alibaba and mobile services firm Tencent Holdings as future competitors. "The ways that Tencent and Alibaba make money today are the ways that Xiaomi will make money in the future," he said. Last year the company made less than USD 300 million in revenue from services, said Lei, but total revenues this year are expected to come it at around USD 16 billion, with mobile services accounting for around 6 percent of that figure.
Tags: services
mobile
usd
revenue
UPDATE 2-Fortescue pays up to get $2.3 bln bond over the line
2015-04-23 12:02:57| IT Services - Topix.net
Australian miner Fortescue Metals Group has refinanced $2.3 billion of its debt pile on a third attempt, but was forced to pay a higher yield amid investor concerns about the state of the iron ore market. Fortescue sold senior secured notes in New York at a 10.25 percent yield on Wednesday, a far richer price than the 8.5 percent the company offered just a month ago but which was pulled after it failed to tempt investors.
China Mobile Q1 profit drops 5.6% to CNY 23.8 bln
2015-04-20 12:07:00| Telecompaper Headlines
(Telecompaper) China Mobile saw its first-quarter revenues grow 3.9 percent year-on-year to CNY 160.8 billion, and EBITDA rose 2.8 percent to CNY 59.1 billion. EBITDA margin declined to 36.8 percent from 37.2 a year ago. Net profit dropped 5.6 percent to CNY 23.8 billion.
Tags: china
mobile
profit
drops
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