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Free Shipping Pays Off: Amazon Sales Rise 33 Percent
October 25, 2002
E-tail giant said sales grew 33 percent year-over-year to $851 million in the third quarter, fueled by its free shipping offer in the United States and by dramatic expansion in overseas sales. Amazon's net loss shrunk to $35 million from $170 million in the same quarter in 2001.
Microsoft Says Q1 Sales Not Sustainable
October 21, 2002
After beating analysts' expectations with a surprise profit of $2.71 billion in its first fiscal quarter, software giant Microsoft acknowledged over the weekend that a repeat performance in the coming year is not likely.
Microsoft Blows Past Targets, Records $2.7B Profit
October 18, 2002
Microsoft reported a strong first quarter, with profit nearly doubling and revenues rising as the software giant began to convert customers to a new yearly payment plan. But news of a $2.71 billion profit from the Redmond, Washington, software giant was not enough to power the stock market forward.
AMD Echoes Intel with Q3 Shortfall
October 17, 2002
The number one and number two semiconductor manufacturers, Intel and AMD, both cited reduced PC demand and weak back-to-school sales this week as they reported third-quarter earnings that fell short of analysts' expectations. AMD booked a $254 million loss on $508.2 million in sales revenue.
How Much Is Your Company Worth?
October 17, 2002
During these tumultuous economic times, even valuable companies show such weak revenues that the entire concept of valuing a company based on multiples of earnings may be fundamentally flawed. But it is still possible for a potential buyer or seller to place a price tag on a tech-sector company. It just takes a little work and a shrewd eye.
Intel Misses Profit Target, Halting Stock Rally
October 16, 2002
Intel has announced earnings of $686 million, missing analysts' estimates, and said the usually robust fourth quarter likely will prove a disappointment as well. The news from the world's largest maker of microchips abruptly halted what had been a buoyant run on Wall Street.
Time To Buy Tech-Heavy Funds?
October 10, 2002
With the economy still on the skids and technology stocks taking the biggest hit, one might think the time is right for investors to take advantage of bargain-basement prices and sink their dollars into tech-heavy funds, including index funds and managed funds. But that is not necessarily true.
New York Sues Telecom Execs over IPO Profits
October 1, 2002
Seeking to recoup millions of dollars that he maintains rightfully belong to shareholders, New York Attorney General Eliot Spitzer has filed a civil suit against five telecom executives who profited from IPOs during the late 1990s and into 2002.
Intel Lowers Q3 Revenue Range But Stays Course
September 6, 2002
Intel has adjusted its guidance for the third quarter, saying that revenue will fall within the $6.3 billion to $6.9 billion range it previously provided. However, the company narrowed that range, aiming toward the lower end.
Sun Forecasts Dimmer Future Immediately Ahead
August 30, 2002
Noting that corporate clients appear to be more tight-fisted with their IT dollars, Sun Microsystems has lowered its revenue forecast for its fiscal 2003 first quarter, which ends in September. Sun's announcement came as no surprise to industry observers.
HP Reports Post-Merger Losses in Q3
August 28, 2002
Hewlett-Packard has reported a $2 billion third-quarter net loss, which it attributed to a weakened economy and costs associated with the $18.7 billion Compaq merger in May. The company booked revenue of $16.5 billion for the quarter ended July 31st, compared with $18.2 billion in second-quarter revenue on a combined company basis. HQ Back to Normal After Anthrax Scare
August 21, 2002's offices were evacuated and its stock suffered a sharp drop after a white powdery substance was discovered in the company's mailroom. Local authorities in McAllen, Texas, ordered the evacuation of the processing center, where about 100 people process reservations made through the site. The scare proved to be a false alarm.
Nasdaq Cuts Ties with Japanese Exchange
August 16, 2002
Sounding the death knell for its hopes of providing round-the-clock trading for investors, Nasdaq has halted plans to move forward with Nasdaq Japan, saying it will withdraw from the troubled Japanese effort by October 15th. The Osaka Securities Exchange plans to continue to run the exchange under the tentative name Japan New Market.
Dell Posts Q2 Profit, Predicts Q3 Growth
August 16, 2002
Dell has announced second-quarter revenue of $8.46 billion, reversing year-ago losses but still falling slightly short of analysts' expectations. The company also said it expects third-quarter earnings and revenue to increase as it continues to steal market share from competitors. Faces Nasdaq Delisting
August 15, 2002
The Nasdaq stock exchange has given just over two months to either boost its stock price or face delisting, an often fatal blow to a public company's fortunes., which launched a $420 million IPO in the dot-com heyday of 1999, received the warning notice because its stock price has remained below $1 for 30 consecutive days.
Investors React Strongly to Monster Parent Warning
August 8, 2002
Shares of parent company TMP Worldwide tumbled to their lowest levels in nearly four years after the company reduced its outlook for the rest of this year and said that it will lay off more workers. Specifically, TMP announced plans to raise its total number of job cuts to 1,000.
IBM Grabs PwC Consulting for $3.5B
July 31, 2002
In a deal that might ultimately shift the balance of power among computer vendors, IBM will pay $3.5 billion in cash and stock for PricewaterhouseCoopers Consulting. Pascal Matzke, a senior analyst at Giga Information Group, told the E-Commerce Times that the acquisition is "actually a good match" that will give IBM a strong position.
Softbank Cashes Out on E*Trade, Takes Loss
July 26, 2002
Japanese Internet venture investor Softbank has sold its remaining stake in E*Trade, taking a loss as part of an effort to realign its holdings and reduce its exposure to the dot-com world.
Tech Stocks To Watch in 2002
July 25, 2002
Many technology companies thought 2001 was a tough year, but compared with today's devalued Dow and spooked investors, last year may turn out to be a fond memory. However, according to some analysts there are still a few tech companies that are good bets for the future.
Expedia Earnings Strong Despite Travel Concerns
July 24, 2002
Expedia saw revenues climb sharply and income nearly double during the second quarter, a performance that -- at least temporarily -- might allay fears about slowing growth in the online travel space. The company's CEO, Richard Barton, said the growth stemmed largely from vacation bookings.
Amazon Loss Widens in Q2
July 23, 2002
In a week when the stock market dipped wildly and WorldCom filed for bankruptcy, Amazon's $94 million net loss for the second quarter of 2002 paled in comparison. The loss actually represented an improvement over the online bookseller's year-ago second quarter, in which it posted a net loss of $168 million.
Online Brokers Eke Out Profits Amid Market Turmoil
July 23, 2002
Even as the major U.S. stock markets dipped to new lows, Ameritrade -- the second largest online broker -- said it squeezed out a quarterly profit of $5.7 million. The company noted that order volume has plummeted as consumers have turned away from stock trading in large numbers, reducing revenue to $100 million from $112 million a year ago.
Profitable PayPal Posts Q2 Growth
July 23, 2002
PayPal has reported that its second-quarter earnings and net income have increased compared with year-ago results, doubling in key areas. The Internet payment service reported net income of $529,000 compared with a net loss of $27.2 million in the second quarter of 2001.
Wireless Tech Stocks To Watch
July 19, 2002
Sifting through the stock market wreckage in search of wireless gems has not been a fruitful pursuit in recent weeks. For the most part, experts say, companies in the sector -- especially wireless service carriers -- will need to undergo drastic shifts before wireless stocks again become "must-haves" in investor portfolios.
Diversified Sun Returns to Profitability
July 19, 2002
Sun Microsystems reported fiscal fourth-quarter profits of $20 million, signaling a return to profitability for the technology giant amid industry-wide economic woes. "We stated a goal of reporting a profit this quarter and we achieved that goal," said Sun chief executive officer Scott McNealy.
EBay Reports Skyrocketing Revenue and Profits
July 18, 2002
EBay has reported that its second-quarter revenue and net income increased compared with the year-ago period, setting a profitability record for the online auction giant. Bargain-hungry consumers account for the company's stellar performance during a tough economic time, Giga Information Group analyst Rob Enderle told the E-Commerce Times.
Apple Results Lackluster But Profitable
July 17, 2002
Apple's third-quarter net profit of $32 million fell far short of the company's original guidance, but still defied the economic slump that has sent many technology companies into a money-losing tailspin. The earnings represent a drop-off from the $61 million net profit Apple reported in the same quarter a year ago.
Revised Dell Q2 Outlook Boosts Market
July 12, 2002
Dell Computer has raised its revenue and earnings estimates for the second quarter, crediting growth in the U.S. education, government and consumer business markets. The company's announcement buoyed the tech-heavy Nasdaq after a string of dismal trading days in the overall market.
Yahoo! Beats Street, Posts Q2 Profit
July 10, 2002
Yahoo! has reported second-quarter earnings of $225.8 million and net income of $21.4 million, outdoing year-ago figures, while online advertising revenue still accounted for the bulk of the company's income.
Timeline for Tech Comeback
June 28, 2002
In every quarter since the dot-com meltdown began gathering steam, industry analysts and investment bankers have been predicting a tech comeback. But a seemingly unending string of disappointing earnings reports has forced overly optimistic forecasters to retract predictions of imminent rebound.
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