Reply to this post Q4 14A margins may not be sustained into 2015E. Amazon reported good results as management seems to have finally decided that it was time to make a profit. Q1 14A Revenues and profits were $29.34bn / $0.45 compared to consensus at $29.73bn / $0.17. Although profitability was far ahead of expectations,...
Reply to this post The move to mobile is causing problems. Alibaba reported Q3 15A results that missed expectations as revenue growth was weaker than expected. This raises immediate concerns regarding Alibaba’s sensitivity to the slowing Chinese economy and whether or not it is beginning to saturate its core market. It also raises question marks...
Reply to this post Steady results show better weathering of the handset storm. Samsung reported reasonable Q4 14A results and some signs have emerged that management has regained a degree of control over the handset business. Revenues / EBIT were KRW52.73tn / KRW5.29tn which was comfortably within the range given on January 8th. Consumer electronics,...
Reply to this post Results highlight the differences between these two players. Investors greeted the results announcements of both companies with enthusiasm but for very different reasons. Apple Apple reported Q1 15A results that beat expectations as the iPhone performed much better than the street had forecast. Q1 15A Revenues / EPS were $74.6bn /...
Honeymoon end obscures long term upside. Microsoft reported in-line Q2 15A results but guided weakly as the corporate upgrade from Windows XP to Windows 7 has begun to tail off. Q2 15A Revenues / EPS were $26.5bn / $0.71 compared to consensus forecasts of $26.4bn / $0.71. However guidance was soft with Q3 15E revenues...
Overheating very unlikely to be a Qualcomm design flaw. There is enough noise in the market to make it likely that there has been a problem of some description with the Snapdragon 810 in the early version of the Samsung Galaxy S6. These problems seem to have been bad enough for Samsung to consider dropping...
Google’s move to be an MVNO is all about control. It looks very likely that Google will launch its own branded MVNO during 2015 using the networks of T-Mobile Inc. and Sprint. This is not good news for either T-Mobile or Sprint despite the share reactions to the news. While they will get more traffic...
Free upgrade is excellent news for the Microsoft ecosystem. Microsoft’s ambition to become an ecosystem company have crystalised further as upgrades to Windows 10 from 7, 8.1 and Windows Phone will be free. Microsoft gave a deeper preview of Windows 10 at its event yesterday and at the same time launched its own foray into...
HP loses more face over Autonomy. The end of the criminal investigation into HP’s allegations of fraud at Autonomy leaves the management of HP with egg all over its face. The UK Serious Fraud Office (SFO) has declined to proceed with fraud charges against the former executives of Autonomy stating that there is not enough...
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.
Lenovo Q3 14A – The executioner
Reply to this post Results augur well for acquisition turnarounds. Lenovo reported excellent Q3 14A results despite the first time inclusion of two loss making businesses. Q3 14A revenues / net income were $14.1bn / $253m compared to consensus at $13.7bn / $216m. These results are particularly impressive as: The PC market remains soft but...