Google and Microsoft were among the tech companies reporting earnings Thursday, following reports from IBM and eBay on Wednesday and Yahoo on Tuesday.
Here is a summary of recent earnings and reports for selected technology companies and what they reveal about the state of spending and the overall economy:
— July 2: Microsoft Corp. says it is absorbing a $6.2 billion charge to reflect that one of the biggest deals in its 37-year history, for online ad company aQuantive, turned out to be a dud.
— July 6: Samsung Electronics Co. estimates its second-quarter operating profit at 6.5 trillion won to 6.9 trillion won ($5.7 billion to $6.1 billion), a 79 per cent jump from a year earlier based on the midpoint of that range. Analysts say the sharp rise in operating profit was driven the success of its Galaxy line of smartphones. However, Samsung's stock fell as lower-than-expected overall sales underlined the threat from Europe's economic malaise.
— July 9: Chipmaker Advanced Micro Devices Inc. lowers its quarterly forecast, blaming weaker-than-expected sales in China and Europe and lacklustre demand overall from consumers. AMD says it expects revenue to fall 11 per cent from the previous quarter, below its earlier forecast of a 3 per cent decline.
— July 10: BlackBerry maker Research in Motion Ltd. asks disgruntled investors at a shareholders meeting for patience as it develops new devices to rival the iPhone and Android smartphones. The company reiterates a warning that the next several quarters will be challenging. It also expects to book another operating loss in the current quarter as the company cuts prices to sell its older BlackBerry models.
— Tuesday: Yahoo Inc. reports another lacklustre quarter on CEO Marissa Mayer's first day on the job. It continues years of financial lethargy that has plagued the one-time Internet pioneer as Google and Facebook have prospered. Net income fell 4 per cent from a year ago, and adjusted earnings were short of expectations.
Intel Corp., the world's largest chipmaker, says revenue for the current quarter is likely to come in below Wall Street forecasts as it blames "a more challenging macroeconomic environment."
— Wednesday: IBM Corp. reports its 38th consecutive quarter of earnings increase. Net income rose 6 per cent despite a 3 per cent drop in revenue amid Europe's economic jitters. IBM revenue in Europe, the Middle East and Africa fell 9 per cent from last year. The turmoil in Europe hurt IBM's results as currencies there weakened, translating into fewer U.S. dollars. IBM says revenue would have been slightly higher than last year if currency-exchange rates had remained the same.
EBay Inc. more than doubled its second-quarter net income thanks to higher revenue from its PayPal online payments business and its e-commerce websites. Its marketplaces business, which includes its flagship website, saw the strongest growth rate since 2006.
— Thursday: Google Inc. says its second-quarter earnings rose 11 per cent despite a deepening decline in the prices paid for its Internet search advertising. The results included Google's $12.5 billion acquisition of cellphone maker Motorola Mobility Holdings Inc. for the first time. Revenue climbed 35 per cent from last year to $12.2 billion. If not for Motorola, revenue would have increased 21 per cent.
Microsoft Corp. says a $6.2 billion accounting adjustment to reflect a weak online ad business led to its first quarterly loss in its 26 years as a public company. The company had a loss of 6 cents a share, compared with earnings of 69 cents a share a year ago. Adjusted earnings beat expectations, and the stock rose.
Verizon Communications Inc. says net income rose 13 per cent in the second quarter as its wireless arm pulled in record profits. But its traditional, wired phone business was weaker. Like other phone companies, Verizon is losing landlines, but has been compensating to some extent signing up broadband customers. In the second quarter, that trend faltered, as it gained just 2,000 broadband customers — the worst result in four years.
— July 24: Apple Inc., AT&T Inc., Netflix Inc.
— July 25: Zynga Inc.
— July 26: Facebook Inc., Sprint Nextel Corp., Amazon.com Inc.
— July 27: Samsung Electronics Co.
— Aug. 1: Comcast Corp.
— Aug. 2: Sony Corp., LinkedIn Corp.
— Aug. 15: Cisco Systems Inc.
— Aug. 21: Dell Inc.
— Aug. 22: Hewlett-Packard Co.
— Sept. 27: Research in Motion Ltd.