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UPDATE 2-Rackspace raises buyback to up to $1 bln, shares jump
2015-08-11 23:29:34| Telecom - Topix.net
Web hosting company Rackspace Hosting Inc reported an 11 percent rise in quarterly revenue and raised its share buyback program to up to $1 billion, sending its shares up 5.2 percent in extended trading on Monday. The company said the buyback is in addition to the $200 million it had already bought back.
Tags: jump
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HTC posts net loss of TWD 8 bln in Q2
2015-08-06 10:40:00| Telecompaper Headlines
(Telecompaper) HTC reported a net loss of TWD 8.0 billion in the second quarter, versus a profit of TWD 2.3 billion a year earlier, hurt by a sharp fall in sales and an asset impairment charge of TWD 2.9 billion. HTC said it suffered from weak demand at the high end of the Android smartphone market as well as lower-than-expected sales in China. Revenues nearly halved, to TWD 33.0 billion from TWD 65.1 billion a year ago. The gross margin dropped to 19.3 percent from 22.2 in the year-earlier period and 19.7 in Q1 this year. HTC said it started a company-wide focus on reducing costs and optimising the use of resources. It continues to invest in new product areas though, notably virtual reality, where it plans to launch the HTC Vive glasses later this year. For the third quarter, the company forecast a further slide in sales, to TWD 19-22 billion compared to TWD 41.9 billion a year earlier. The gross margin is estimated at 19.0-19.5 percent and EPS at a loss of TWD 5.51-5.85.
Chesapeake takes $4 bln writedown on low oil price
2015-08-06 04:11:46| Oil & Gas - Topix.net
Chesapeake Energy Corp. posted a deep loss in the second quarter as the U.S. shale driller took a $4.02 billion write-down on some properties following tumbling energy prices. "While we strive to remain flexible in the face of lower commodity prices, we continue to focus on driving our costs lower," said Doug Lawler, Chesapeake's chief executive.
Silver Lake invests USD 1 bln in Motorola Solutions
2015-08-05 15:45:00| Telecompaper Headlines
(Telecompaper) Motorola Solutions has attracted an investment of USD 1 billion from Silver Lake to help grow its business in public safety communications. Silver Lake will subscribe to 2.0 percent convertible bonds due 2020. They have an initial conversion price of USD 68.50 per share, a 17 premium on Motorola's average share price in the past 30 days. Motorola said it will use the cash injection to fund part of a new USD 2 billion share repurchase programme. In connection with Silver Lake's investment, Egon Durban and Greg Mondre, managing partners of Silver Lake, will be appointed to Motorola Solutions' board of directors when the transaction closes, which is expected in the third quarter. Durban also serves on the boards of Dell and Intelsat and is chairman of WME Entertainment. Mondre is a director of Avaya, Go Daddy, Red Ventures, Sabre Holdings and Vantage Data Centers, and is on the operating committee of SunGard Capital.
Tags: solutions
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MTN Group H1 revenue falls 4.9% to ZAR 69.2 bln
2015-08-05 12:49:00| Telecompaper Headlines
(Telecompaper) MTN Group reported a 4.9 percent decrease in revenues for the first half to ZAR 69.2 billion, hurt by negative currency effects. Despite the negative currency effects, the group continued to benefit from increased demand for data services, increasing data revenue by 21.3 percent. This followed an 87 percent annual increase in data traffic as well as encouraging growth in digital and mobile financial services, MTN said. EBITDA decreased 10.1 percent to ZAR 30.3 billion, and the EBITDA margin declined by 2.6 percentage points to 43.7 percent, mainly as a result of lower revenue and weaker local currencies impacting costs. The sale and lease back of towers, which were largely earnings neutral due to lower depreciation costs, were also a drag on the EBITDA margin. However, good progress in transforming the operating model, maintaining cost growth below inflation and optimising resources partly offset the decline in margin. Headline earnings decreased 10.3 percent to ZAR 6.54, in line with the mobile operator's earlier trading update. MTN said the results reflect a challenging operating environment and lower-than-expected performance in parts of the business.
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