Digital Daily » after-hours

Netflix Investors Inexplicably Emptying Their Queues

John Paczkowski — Thu, 22 Oct 2009 23:05:30 +0000

Evidently, Netflix is as recession-proof as Hollywood. Reporting third-quarter earnings after market close Thursday, the DVD-by-mail pioneer posted net income of $30.1 million, up 48 percent from a year earlier, on revenue of $423.1 million. That’s 52 cents a share. Analysts had been expecting 46 cents a share on $419.9 million in sales.

And get this: Netflix (NFLX) added a net 510,000 subscribers during the period, 95 percent more than in the same three months last year. In fact, in the past year, Netflix has added 2.4 million subscribers, the most it has signed on in its 10-year history.

“Our business momentum is strong and our third-quarter performance keeps us solidly on course for a record 2009,” Netflix CEO Reed Hastings said in a statement.

Given that and the fact that Netflix beat estimates, it’s odd to see investors dragging the company’s shares down. Netflix fell 4.39 percent to 47.45 in after-hours trading.

RIM Takes a Trip to the Woodshed

John Paczkowski — Thu, 18 Jun 2009 21:01:37 +0000

Good apparently isn’t good enough for RIM investors. The BlackBerry maker reported earnings for its first fiscal quarter that rose 33 percent to $3.42 billion on strong sales. And while that was in line with the Street’s $3.41 billion consensus estimate, the company’s shares slipped nearly five percent in after-hours trading.

How can that be? Research in Motion (RIMM) sold 7.8 million BlackBerries in an abysmal economy. It added 3.8 million new BlackBerry subscriber accounts during the quarter. For its second quarter, RIM expects to earn 94 cents to $1.03 a share on revenue of $3.45-$3.70 billion. What’s not to like about that?

Plenty, apparently. Seems investors find the company’s forward guidance a bit lacking. Analysts forecast earnings of 97 cents a share on revenue of $3.61 billion.

Apple Investors: "Philnote" Just Doesn't Have the Same Ring to It

John Paczkowski — Tue, 16 Dec 2008 23:45:19 +0000

Told that Macworld Expo 2009 will be Apple’s last, and the first that CEO Steve Jobs does not keynote, investors behaved much as you’d imagine, dragging the company’s shares into the mud in after-hours trading. Fueling the panic: obvious concerns about Jobs’s well-being. And, of course, speculation that Macworld is likely to disappoint devotees hoping for the introduction of some insanely great new product.

A quick thought on that last point: CNBC’s Jim Goldman says he’s sure Jobs’s decision to skip the Macworld keynote has nothing to do with his health. If that’s the case, tapping Phil Schiller to deliver the company’s final Macworld “Stevenote” likely has more to do with Apple’s acrimonious relationship with Macworld organizer IDG than anything else. Given the media attention the company’s able to command these days, Apple no longer really needs events like Macworld. The company’s special events are equally as effective in generating publicity and far easier to orchestrate and control.

So would Apple really send Senior VP Phil Schiller out onto the Macworld stage without a cool new product to introduce? Probably. So much for that netbook …

Macworld Without Steve? That's Like "Baywatch" Without Hasselhoff

John Paczkowski — Tue, 16 Dec 2008 21:41:04 +0000

Disappointing news for the Mac faithful and anyone who’s ever seen Apple CEO Steve Jobs masterfully deliver his annual Macworld keynote address. Jobs will not do so this year. Instead, the keynote will be given by Philip Schiller, Apple’s senior vice president of Worldwide Product Marketing. And Macworld Expo 2009 will be the last such event Apple attends (full statement below).

The unexpected announcement is already playing hell with Apple’s share price, no doubt fueled by further morbid speculation about Jobs’s health. AAPL slipped more that five percent to $90.44 in after-hours trading.

Wow. End of an era. Is this the set-up for Schiller as new iCEO? After all, he’ll be delivering the keynote address at Apple’s marquee event. Or is it simply an acknowledgment that Apple prefers to handle its own events on its own schedule?

Either way it’s a nasty blow to IDG, the publishing company that runs Macworld. Right now they’ve got to be chugging Mylanta by the gallon at IDG corporate.

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Apple Announces Its Last Year at Macworld

CUPERTINO, California—December 16, 2008—Apple® today announced that this year is the last year the company will exhibit at Macworld Expo. Philip Schiller, Apple’s senior vice president of Worldwide Product Marketing, will deliver the opening keynote for this year’s Macworld Conference & Expo, and it will be Apple’s last keynote at the show. The keynote address will be held at Moscone West on Tuesday, January 6, 2009 at 9:00 a.m. Macworld will be held at San Francisco’s Moscone Center January 5-9, 2009.

Apple is reaching more people in more ways than ever before, so like many companies, trade shows have become a very minor part of how Apple reaches its customers. The increasing popularity of Apple’s Retail Stores, which more than 3.5 million people visit every week, and the Apple.com website enable Apple to directly reach more than a hundred million customers around the world in innovative new ways.

Apple has been steadily scaling back on trade shows in recent years, including NAB, Macworld New York, Macworld Tokyo and Apple Expo in Paris.

Adobe Announces Crash® CS4 Professional

John Paczkowski — Wed, 03 Dec 2008 22:56:09 +0000

Well, no wonder Adobe won’t have an exhibition booth at Macworld Conference & Expo 2009–the company’s sacking employees who might have otherwise staffed it….

Citing the standard litany of economic tribulations, Adobe (ADBE) Wednesday reduced its fourth-quarter outlook and said it will cut 600 jobs around the world–about eight percent of its workforce. The company now expects revenue of $912 million to $915 million. In better times, that revenue target range had been $925 million to $955 million. “The global economic crisis significantly impacted our revenue during the fourth quarter,” said CEO Shantanu Narayen. “We have taken action to reduce our operating costs and fine-tune the focus of our resources on key strategic priorities.”

Adobe shares slipped nine percent to $20.50 in after-hours trading.