financial

Mad Catz: 37% staff layoff to follow exec mass exodus

Mad Catz: 37% staff layoff to follow exec mass exodus

The writing was on the wall yesterday, and so today's news isn't terribly surprising: Mad Catz will be laying off 37-percent of its workforce, an announcement that follows yesterday's CEO and other executives' mass departure. The layoff news came alongside the company's newest quarterly financial report, the numbers for which were largely profitable. The restructuring will shed some financial burden, however, and will enable the company to better improve its competitiveness in the market.

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Samsung earnings continue to fall, looks to IoT for help

Samsung earnings continue to fall, looks to IoT for help

Companies are starting to reveal their financial performance for the last quarter and the whole year of 2015 and, in general, things are taking a slightly negative trend, even for the likes of Apple. Unsurprisingly, Samsung's story isn't any better and its profits continue to slide. This time, however, its semiconductor business, as well as the foreign exchange status of the Korean Won, which it has traditionally relied on, wasn't enough to save it. So this time around, it is looking to a new market segment, the Smart Home and Smart Health market, for hope.

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LG to have 2 smartphone flagships to face challenging 2016

LG to have 2 smartphone flagships to face challenging 2016

Korean manufacturing giant LG has just revealed its financial performance for the last quarter of 2015. All in all, the company was happy to tell a mostly positive story, with an operating profit of 349 billion KRW, roughly $301.4 million), which is an impressive 27% increase from the previous quarter of that year. However, like its fierce rival Samsung, much of that profit came from businesses other than its mobile devices. Expecting rough seas ahead, LG is said to release two flagship smartphones this year to try and offset whatever sales problems it might encounter in 2016.

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Apple’s Q1 2016 revenue grows while Mac sales slow

Apple’s Q1 2016 revenue grows while Mac sales slow

This afternoon Apple reported their financial Q1 2016 earnings with a cool $29.3 billion in revenue in the Americas and a total of $75.9 billion worldwide. This is up 47% sequentially and up 2% year-over-year, while guidance from the company last quarter suggested they'd be "$75.5 billion and $77.5 billion" - so they're right on the money. This overarching revenue story is told by iPhone sales, primarily, and iPad, Mac, and Services revenue to a slightly lesser degree.

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Netflix’s Reed Hastings unveils $100m philanthropic fund

Netflix’s Reed Hastings unveils $100m philanthropic fund

Netflix CEO Reed Hastings has announced that he is funding a new philanthropic fund called the Hastings Fund. This will be a $100 million effort targeted at education through the Silicon Valley Community Foundation, he said. A couple of recipients have already been announced, as has the fund’s CEO: Neerav Kingsland. The Hastings Fund, among other things, plans "to partner with communities."

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Apple agrees to pay $347M in Italian tax probe

Apple agrees to pay $347M in Italian tax probe

Apple's tax practices have long been under criticism, with CEO Tim Cook even commenting during a recent 60 Minutes interview that accusations that the company goes to great lengths to avoid corporate taxes are "total political crap." However, that doesn't mean governments have to feel the same, with Italy saying that Apple failed to declare its full earnings in the country. The company has now agreed to a settlement in the investigation, and will pay 318 million euros, or roughly $347 million.

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Strong PS4 sales help lead Sony to profits

Strong PS4 sales help lead Sony to profits

For the last few years, Sony has been plagued with significant losses, mostly due to its ever struggling mobile division. Today, however, the Japanese tech giant has announced a profit of 33.6 billion yen (about $278 million) for the second quarter of fiscal 2015, and it once has its successful image sensor division, as well as continually strong PS4 sales, to thank. So much so, that Sony is even predicting a yearly operating profit of 320 billion yen ($2.64 billion).

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Samsung’s Q3 results are in, lets company breathe a bit

Samsung’s Q3 results are in, lets company breathe a bit

Samsung has just posted its financial numbers for the third quarter in a year and finally the Korean manufacturer has some room to breathe. But probably not for long. Even though the numbers are still small and still somewhat disappointing, consolidated revenues and operating profits have gone up, mostly thanks to its semiconductor and display panel businesses. The bad news, smartphone sales are still lower than hoped. The worse news, Samsung expects that the next quarter, nay the next year, will be even more difficult.

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$11.1bn Apple profits as iPhone and China sales soar

$11.1bn Apple profits as iPhone and China sales soar

Apple has announced its financial details for Q4 2015, revealing an $11.1 billion quarterly profit on $51.5 billion in revenue. Both numbers are significantly higher than the comparable quarterly results from last year, which topped at $8.5 billion in net profit. Apple largely has the iPhone to thank for its growing profits, with the fourth quarter ushering in record sales. In addition, the Apple Watch’s expanded availability and record Mac sales also played an important role.

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Microsoft Q3: Bing, cloud biggest winners, phones still down

Microsoft Q3: Bing, cloud biggest winners, phones still down

Microsoft's investments and patience with its products, despite criticisms and contrary suggestions, are probably starting to pay off. The company has released its financial report for the first quarter of the 2016 fiscal year, which ended September 30, 2015 and the numbers are quite the mixed bag. Although Redmond is practically reporting a revenue loss, the company is strangely upbeat about the business. The details do hint at some businesses experiencing a growth surge, with things looking hopeful. That is, except for the poor smartphone.

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HTC’s downhill financial trend continues in Q3 2015

HTC’s downhill financial trend continues in Q3 2015

If there were any doubt whether HTC was in deep trouble, the numbers from the previous quarter would probably be proof enough. The Taiwanese company just posted its financials for the months ranging from July to September this year and things aren't looking good. To be blunt, they are looking terrible and almost hopeless. It revealed a net loss amounting to $138 million, which doesn't spark much confidence in the manufacturer's ability to turn its business around and put a curb on its consistently slumping profits.

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US regulator officially recognizes Bitcoin as commodity

US regulator officially recognizes Bitcoin as commodity

The US government's Commodity Futures Trading Commission (CFTC) has declared that virtual currency like Bitcoin is officially recognized as a commodity, just like materials such as copper, crude oil, coffee, or wheat. The decision was announced on Thursday alongside the CFTC saying it had settled charges against the Bitcoin exchange Coinflip for allowing users on its platform to trade option contracts. The agency's press release states that the CFTC "for the first time finds that Bitcoin and other virtual currencies are properly defined as commodities."

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