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One quarter after delivering a rare earnings miss, Google promptly returned to form Thursday, trouncing analyst expectations with strong revenue and earnings growth for its third quarter Google said profit rose 46 percent to US$1.07 billion on a 57 percent rise in sales to $4.23 billion. It was the 13th consecutive quarter since going public in Aug...
Worldwide shipments of personal computers grew more than 14 percent in the third quarter, according to two reports, with HP and Apple posting strong market share gains PC shipments rose 14.4 percent in the quarter to 68.5 million units, according to Gartner. Rival market research firm IDC, meanwhile, pegged growth at an even more robust 15 percent,...
A massive write-down in the value of its Skype Internet calling subsidiary sent eBay to its first quarterly loss in its nearly decade-long history as a public company, but the auction giant otherwise managed to beat expectations and boosted its outlook eBay had warned it would take the hit on its Skype investment previously, and on Wednesday formal...
IBM's hardware sales fell in its third quarter, but stronger software sales and service contracts helped the company post positive results Big Blue attributed the drop in hardware sales -- revenue fell 10 percent in total and 6 percent when adjusted for the sale of its printing line to US$4.9 billion -- in part to the subprime credit problems plagu...
Time Warner's AOL unit will reduce its workforce by 2,000 more workers as the once massive Internet company continues a transformation designed to better enable it to compete in the current Web marketplace This time, the 2,000-person reduction in headcount amounts to a 20 percent cut and will bring AOL's worldwide employee base below 10,000 for the...
The U.S. Supreme Court Monday declined to take up an appeal brought by Microsoft and Best Buy, who wanted the high court to overturn a lower court decision that allowed a lawsuit alleging fraud and racketeering to move forward Without comment and with no apparent dissent, the justices refused to hear the appeal of a federal appeals court ruling in ...
Electronic Arts will pay more than US$800 million to buy two video game studios from the private equity firm that purchased them two years ago EA, the largest publisher of video games worldwide,will acquire VG Holding from Elevation Partners. VG consists of BioWare and Pandemic Studios, each of which Elevation acquired at fire-sale prices in 2005....
Virgin Mobile USA staged its long-anticipated initial public offering Thursday, raising more than US$400 million in the process, but investors gave the shares a fairly modest boost out of the gate Shares of the virtual network operator, which focuses on selling pay-as-you-go mobile services to a largely young audience, priced late Wednesday at $15,...
Sony Ericsson posted quarterly results that show it continues to gain market share against some competitors but is doing so at the expense of its bottom line The fourth-largest handset maker posted its first year-over-year profit drop in two years, saying third quarter net earnings fell 10 percent to 267 million euros (US$379 million). Revenue was ...
Google has reached a deal to buy a Swedish firm that makes a social networking application that lets users blast their extended networks of friends with micro-blogs whether they're on a PC or a mobile phone Google did not disclose the terms of its acquisition of Jaiku, which is based in Helsinki; neither company said exactly how the firm's technolo...
NBC Universal (NBCU) will purchase Oxygen Media, the operator of a cable channel aimed at women, for US$925 million, a move that dovetails with media and entertainment company's 2006 purchase of the iVillage online network for $600 million The acquisition gives NBC a cable channel that reaches 74 million homes and offers advertisers a focused demog...
Sprint Nextel CEO Gary Forsee stepped down Monday amid mounting pressure from investors of the telecommunication company, which said it would launch a worldwide search for its next leader After days of rumors and published reports suggesting he was on the way out, Forsee announced he would leave the positions of chairman, CEO and president effectiv...
The legal saga of the first file-sharing lawsuit brought by the record labels to make it before a jury isn't over just yet Jammie Thomas, who a jury ordered to pay US$222,000 after it found her responsible for posting two dozen songs on the Kazaa file-sharing network, announced through her MySpace blog Monday that she would appeal the decision....
Vonage saw its stock soar some 75 percent Monday after the Voice over Internet Protocol (VoIP) firm settled a patent infringement dispute with Sprint Nextel that gives it the right to use Sprint technology going forward. The settlement could help Vonage turn a punishing legal setback into a positive development Vonage and Sprint announced Monday th...
In one of the most sweeping domestic law enforcement actions against online child pornography in recent times, New Jersey officials announced on Thursday the arrests of 41 people for possession or distribution of graphic images of child molestation Dubbed "Operation Silent Shield," the roundup was the culmination of a two-month investigation, much ...
The music industry emerged victorious in the first file-sharing lawsuit to go to trial, with a federal court jury ruling a Minnesota woman was liable for swapping two dozen songs and ordered her to pay US$222,000 to Capitol Records The closely watched case ended Thursday after two days of testimony and closing arguments and about five hours of deli...
One of the first file-sharing lawsuits to go to trial could be concluded Thursday, and while the case is being closely watched, the Recording Industry Association of America (RIAA) said it will continue to pursue legal action against alleged music pirates regardless of the outcome Attorneys for the RIAA concluded their case against Jammie Thomas, a...
Three years after Sony Music Entertainment and BMG Entertainment finalized their Sony BMG joint venture, antitrust regulators from the European Union have again cleared the music industry deal. The decision followed a court-ordered review of the impacts on small record labels European Commissioner for Competition Neelie Kroes made the announcement ...
Adobe Systems is buying the maker of the Buzzword Web-based wordprocessing software, marking a shift in strategy for the maker of Flash and Acrobat and setting up a showdown over Internet-based applications with the likes of Microsoft and Google Adobe will purchase Waltham, Mass.-based Virtual Ubiquity and said the move is part of a larger push to ...
Handheld device maker Palm saw its stock take a hit after reporting a fiscal loss for its first quarter and issuing a weaker-than-expected forecast that suggests it is struggling to regain ground lost to rivals such as Research In Motion and Apple and as it shifts its focus to lower-cost devices Palm reported a net loss of US$841,000, or a penny pe...
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