Reply to this post Variances from expectations have little to do with fundamentals. Facebook reported results and Sony pre-announced results that differed from expectations but neither were very relevant to the underlying story of either company. Facebook Facebook reported Q1 15A results that were weaker than expected but this looks to have been almost entirely...
Reply to this post Yahoo! Japan will be the last rabbit to distract the market. Yahoo! pulled its last rabbit out of the hat and in doing so successfully diverted the market’s attention from another disappointing set of results. Q1 15A revenues-ex TAC / adjusted EPS were $1.04bn / $0.15 missing consensus of $1.06bn /...
Reply to this post Qualcomm and Samsung get one over TSMC. Despite losing out to Samsung’s in house Exynos apps processor in the Galaxy s6, Qualcomm looks to be back on track for the flagship device in 2016E. There were problems with the Snapdragon 810. Firstly, in Samsung’s hands it caused its device to overheat....
Reply to this post Right strategy but where is the money? Xiaomi has exactly the right strategy to develop a thriving ecosystem of its own but whether it can make money from it is another thing entirely. There are three ways to monetise an ecosystem: selling hardware, selling advertising or selling subscriptions to one’s Digital...
Reply to this post Yahoo! had little choice but to stay with Microsoft. The changes that have been made to the search contract between Microsoft and Yahoo! are cosmetic and reveal how Marissa Mayer is still failing to breathe any real life into Yahoo!. Microsoft and Yahoo! have extended their search agreement made in 2009...
Reply to this post Everything depends on Netflix achieving scale. Netflix reported Q1 15A results slightly below expectations but the subscriber growth was better than forecast and this continues to be the main driver of the shares. Q1 15A revenues / EBIT were $1.57bn / $97.5m compared to consensus at $1.57 / $106m but all...
Reply to this post Data centres rescue the quarter but not the year. Intel reported Q1 15A results in line with reduced expectations but guided well thanks to the continued strength of the data centre. Q1 15A revenues / EPS were $12.8bn / $0.41 which was exactly in line with consensus given the profit warning...
Reply to this post It is too early to sell HERE. It seems that Nokia may be seeking to acquire part of Alcatel-Lucent (I presume the wireless assets) and to pay for it by selling the HERE business. The acquisition of Alcatel-Lucent’s wireless business makes some sense as infrastructure is a brutal market dominated by...
Reply to this post Another ruthless demonstration of the value of data. The closing of Twitter’s data feed to third parties is a great example of how valuable user data is becoming and how dangerous it is to have large dependencies in a business model. Twitter announced on Friday (April 10th 2015) that it will...
Richard is founder, owner of research company, Radio Free Mobile. He has 16 years of experience working in sell side equity research. During his 11 year tenure at Nomura Securities, he focused on the equity coverage of the Global Technology sector.
Microsoft & Google– 2 for 2
Reply to this post Strong US$ masks good fundamental developments. Microsoft and Google produced good results that were marred by the problems caused by the strong US$. Both saw good developments in the core businesses, justifying their position as my top choices in the digital mobile ecosystem. Microsoft Microsoft reported strong numbers as adoption of...