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February 4, 2013

So apparently some Swedish guy’s video game did pretty well last year…

  • $232M in profits were generated by Minecraft last year, but Mojang’s founders aren’t looking to go public any time soon according to a new Reuters report. Apparently, despite Notch’s $100 million windfall, these guys want to keep doing what they love without having to answer to new bosses, a major publisher, or outside investors. You can officially consider us jealous.  source
18:41 // 1 year ago
June 22, 2012
Google is making a ton of money from YouTube.
What?! That’s right, patience pays when building platform businesses.  If a media company had owned YouTube, it would’ve ditched it a long time ago, when it bled money.  But kudos to Google for having the patience to realize the long-term business opportunity. (via corybe)

Imagine if News Corp. bought YouTube instead of MySpace. … Um, sorry for giving you guys nightmares.
15:48 // 2 years ago
June 14, 2012

Life at Nokia: Massive layoffs, executive shuffling, lower Q2 profit forecasts

  • execs Nokia Chief Marketing Officer Jerri DeVard, Executive Vice President of Mobile Phones Mary McDowell, and EVP of Markets Niklas Savander will all be shown the door, effective June 30.
  • layoffs The company will layoff approximately 10,000 employees, primarily as a result of plant closures in Canada and Germany, as well as cutbacks to the company’s Devices & Services division.
  • profits Nokia also announced that the layoffs and executive shuffling would mean lower Q2 profits than anticipated. Expected restructuring costs of €1 billion for Q2 tripled to €3 billion. source

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14:16 // 2 years ago
June 6, 2012

A look at HTC’s terrible, horrible, no good, very bad day

  • morning Taiwanese smartphone producers HTC were forced to lower Q2 profit forecasts by 13.3 percent on Wednesday morning. The reason? Lowered demand in Europe, and customs issues in the United States related to time-consuming Apple patent lawsuits.
  • afternoon Now rumors are circulating that a lack of faith in HTC’s ability to sell devices, as well as the company’s limited  track record when it comes to tablet development and sales, led to Microsoft’s decision to exclude HTC from the Windows 8 launch. Sorry guys. source

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18:26 // 2 years ago
April 19, 2012

Bank of America has solid quarter despite massive charge

  • $653M the size of the profit Bank of America had this quarter, which beat investor estimates
  • $2.05B the size of the profit BofA had in the same quarter a year ago; but wait, isn’t that a decline?
  • $4.8B the size of an accounting charge on the value of the bank’s debt, causing lower profits source

» In other words … If you take out the charge, their profits were nearly $5.5 billion this quarter. This total beat the street’s estimate by a wide margin — a reported profit of 31 cents per share, versus what investors thought would be a profit of 12 cents per share. As a result, the stock made a fairly big leap this morning, surging 6 percent in pre-market trading.

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10:14 // 2 years ago
February 24, 2011

General Motors’ good year: Their first full-year profit since ‘04

  • $100 billion the amount GM lost between 2005 and 2009, when they had to be bailed out by the feds
  • $4.7 billion the amount they earned in 2010 – they’re doing the Dougie in the boardroom today source

» It’s not all up-and-up, though: At $510 million, the company’s fourth-quarter numbers, while still profitable, paled in comparison to the rest of the year. Still though, the fact that it’s a profit is definitely Dougie-worthy, no matter how you look at it.

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21:34 // 3 years ago
January 22, 2011

More on this New Yorker AOL article: “Profits” vs. “revenue”

OK, some more research on this AOL thang. Partly spurred by the fact that someone on Reddit claimed that the article said “profits” instead of “revenue,” we’ve been doing some more on the exact phrasing used in the article and elsewhere. We grabbed a copy from The New Yorker’s iPad app (we even paid money for it!) for comparison’s sake with the abstract. Here’s what we found:

  • abstract ”The surge of activity is even more noteworthy given AOL’s dismal decade. The company still gets eighty per cent of its revenue from subscribers.”
  • article ”The company still gets eighty per cent of its profits from subscribers, many of whom are older people who have cable or DSL service but don’t realize that they …”

» What this could mean: Our money is on the “profits” one possibly being correct, but the “revenue” one being wrong. Why’s this? Well, AOL’s hiring 40 journalists a week right now, but the dial-up service probably costs them very little to keep up. They’ve laid off a lot of old-guarders who used to work on the dial-up product and they’re not really expanding it. Instead, they’re paying tons of people to work on Patch, Spinner, AOL News, Fanhouse The Sporting News, etc. They may be making more in revenues from the advertising side, but most of that is being spent on this massive content monster they’ve created. The New Yorker has at least one fact wrong here. Possibly two if the “profits” one is also wrong. (Disclosure for disclosure’s sake: I’ve freelanced for AOL News before but haven’t written anything for them in about five months.)

22:45 // 3 years ago
January 19, 2011

Goldman Sachs has crappy quarter; sucks to be them

  • 53% the dip in Goldman Sachs’ fourth-quarter profits (after many hugely profitable quarters last year)
  • 39% the decline in Goldman’s bond-trading revenue; Goldman blamed “generally low client activity levels”
  • 2.5% the decline in their stock this morning, which has generally been strong during the financial crisis source
11:11 // 3 years ago
January 18, 2011

Steve Jobs may be sick, but Apple’s still killin’ profit expectations

Want to know the best way to get investors off your back about your iconic CEO’s illness? Post numbers that make everyone criticizing you look like chumps. That’s what Apple did today. And even though Steve is still sick (and hopefully he’s able to deal with that without a problem), the numbers suggest that Apple does so much right that it’ll be hard for them to screw up the next couple of quarters. Just to give you kids an idea:

  • $22 billion in revenues in the first quarter for Apple (very good)
  • 2% the increase in Apple’s stock after Apple’s numbers were released, nearly erasing earlier Jobs-illness-related losses
  • 4:5 the number of Fortune 500 companies currently field testing the increasingly-popular iPad – suggesting further success
  • 16.2M the number of iPhones Apple sold, which is way up from a year ago
  • 7.33M the number of iPads they sold – an extremely robust number
  • 4.1M the number of Macs they sold – also way up from a year ago source

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22:09 // 3 years ago
December 7, 2010

The U.S. sold off its last Citi shares; how’d we do on that bailout?

  • 0 the number of Citi shares the U.S. owns as of today; good riddance
  • $45B the amount of money the U.S. infused in Citi during the great bailout crisis of 2008
  • $57B the proceeds the U.S. made on the bailout investment (golf clap; good show, chaps)
  • $12B the amount the U.S. has profited from Citi – wait, we made money on a bailout? source
22:54 // 3 years ago