| Apple earns $1.58 billion in first quarter but stock falls on outlook
Apple beat Wall Street expectations with its earnings report Tuesday, but shares of its stock fell more than 11 percent in after-hours trading as investors fretted over its future. Apple earned $1.58 billion, or $1.76 per diluted share, in the first quarter of fiscal 2008, compared to $1 billion, or $1.14 a share, in the same period in 2007. Revenue was $9.6 billion, up from $7.1 billion. But while Apple executives touted those as record-setting figures, investors focused on projections for the next quarter which were lower than what analysts had expected. Apple said it expected revenue of about $6.8 billion for the second quarter, or diluted earnings of 94 cents a share. Peter Oppenheimer, Apple's chief financial officer, gave two reasons for the lower forecast: a decline in software sales and the normal slowdown in business after Christmas.
Bill Gates - You Asked The Questions
Over two hundred were seeking jobs, one gentleman was proposing himself as the next CEO of Microsoft, and another wondered whether the secrets of Windows software had been recovered from a crashed UFO. We did not ask that one, but managed to get through around fifteen questions during our allotted fifteen minutes. As ever, Mr Gates appeared very well briefed. Yes, Vista was a success, despite the frustrations expressed by Barry from London. Sure, he understood the anger felt by people like Daniel from Aberdeen about the reliability of the Xbox 360, but it was being sorted. Yes, Microsoft had missed some trends - the importance of search - and perhaps over-estimated others -the tablet computer, for instance. And no, Mr McInerney from Southampton, there isn't a single Mac to be found in the Gates household.
Microsoft's 2nd-quarter profit jumps on Xbox 360 sales
Microsoft Corp. on Thursday posted a second-quarter profit that surpassed analysts' estimates on sales of its Xbox 360 game console and Windows programs for personal computers.
The world's largest softwaremaker reported a 79 percent jump in net income, to $4.71 billion, or 50 cents a share, from $2.63 billion, or 26 cents a share, a year earlier. The most recent result surpassed estimates by 4 cents a share. Sales climbed 30 percent, to $16.4 billion. In the year-ago quarter, Microsoft deferred $1.64 billion in sales, cutting revenue and profit.
PC sales rose more than Microsoft forecast, bolstering orders for Windows and Office programs. Holiday purchases of the Xbox 360 also fueled revenue, as shoppers bought the console to play the "Halo 3" shooting game, unavailable on rival systems such as Nintendo Co.'s Wii.
ITV welcomes regulators' review of advertising regime
ITV received its second bit of relief courtesy of the Government this week after regulators launched a review into the rules governing its advertising regime. The Office of Fair Trading and the Competition Commission have begun a review of the Contract Rights Renewal (CRR) system, put in place in 2003 when Carlton and Granada merged to create the company. Under the rules, the broadcaster must compensate advertisers if viewership of ITV1 falls. The CRR was designed to protect advertisers from the dominant position that ITV gained through the merger. The system is a bugbear of ITV boss Michael Grade, who has argued that it constrains creativity and innovation and has hindered his efforts to turn around the struggling broadcaster. The regulators expect the review to last a year, and will take evidence from all interested parties.
Veteran rockers Triumph to reunite
The original members of Triumph, once one of Canada's most popular acts, are to reunite 20 years after they went their separate ways. The arena rock band, known for songs such as Magic Power, A World of Fantasy and Somebody's Out There, have accepted a date at the Sweden Rock Festival near Solvesborg, Sweden in June. Canadian hard-rock trio Triumph, (from left) Gil Moore, Rik Emmett and Mike Levine, are to reunite for a concert in Sweden.(Canadian Music Week) Guitarist Rik Emmett agreed to reunite with his bandmates after his younger brother died of cancer. Emmett, drummer Gil Moore and bassist Mike Levine had been at odds since 1988, when Emmett left the group and the other two continued with another frontman. However, Emmett said he promised his brother, a longtime fan of the band, to stop the bickering and consider getting back with his former bandmates.
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