AP Technology NewsBrief at 9:03 a.m. EDT
(Associated Press Via Acquire Media NewsEdge) Viacom 3Q profit down 7 pct on TV ad declineNEW YORK (AP) _ Viacom Inc., the owner of Paramount Pictures, MTV and Nickelodeon, on Friday said its net income fell 7 percent in the latest quarter as advertising revenue declined more than expected and its movie releases failed to measure up to last year's. The results missed Wall Street estimates, and Viacom shares fell $1.83, or 4 percent, to $44 in premarket trading, below the level touched during the regular trading day this year.
Samsung vies for spotlight ahead of iPhone launchSEOUL, South Korea (AP) _ Samsung Electronics Co., the world's largest mobile-phone maker, said Friday it plans to show a new mobile device in late August, trying to stay in the consumer spotlight ahead of Apple's expected release of the latest iPhone in September. The move comes as Samsung is ensnarled in a closely-watched courtroom fight with Apple Inc. over smartphone and tablet patents. Each side is seeking billions of dollars in compensation or royalty payments.
Smartphone maker HTC posts 58 percent profit dropTAIPEI, Taiwan (AP) _ Taiwan smartphone maker HTC Corp. reported Friday a 58 percent drop in second quarter profit year-on-year, its third consecutive quarterly decline as intensifying competition from Apple Inc. and Samsung Electronics Co. hurt sales. HTC said profit amounted to 7.4 billion New Taiwan dollars ($248 million) from revenue of NT$91 billion in the three months through June.
LinkedIn stock jumps after 2Q revenue soarsNEW YORK (AP) _ LinkedIn had strong revenue in the second quarter thanks to growth from ads and the fees it charges for deeper access to its vast trove of professional profiles. Although net income fell because the company is spending more to grow, revenue increased faster than expected. The company also raised its forecast for the full year.
Olympics cast shadow over CBS 2Q profit beatLOS ANGELES (AP) _ NBC's windfall on the Olympics is turning into a downfall for other TV networks. On Thursday, CBS Corp. Chief Executive Les Moonves became the third major media company executive in three days to acknowledge that the London Olympics were sucking the oxygen out of the advertising market.
DirecTV loses subscribers for first time in 2QNEW YORK (AP) _ DirecTV, the country's largest provider of satellite TV services, is losing subscribers for the first time, as the company tightened credit policies and consumer appetite for pay-TV services appears to have plateaued. DirecTV Inc. said Thursday that it lost 52,000 U.S. subscribers in the April-to-June period. Last year, it added 26,000 in the same period, which is seasonally the weakest of the year.
HP wins ruling in court battle with OracleNEW YORK (AP) _ Computer maker Hewlett-Packard Co. said it won a "tremendous" victory in its court battle to force Oracle Corp. to continue making software for one of its server lines. A California state court on Wednesday proposed an order that would force Oracle to support HP's servers.
AT&T to goes on spectrum shopping bingeNEW YORK (AP) _ AT&T Inc. has gone on a shopping spree for wireless spectrum, striking three separate deals that should let it increase its capacity for wireless broadband. The Dallas-based phone company said Thursday that it has agreed to buy NextWave Wireless Inc., a troubled company that's mainly a holder of spectrum rights, for $600 million in cash, most of which will go toward paying off NextWave debt.
Sony's loss grows, cuts earnings forecastTOKYO (AP) _ Sony's red ink worsened in the April-June quarter and it lowered its full-year earnings forecast as it battles a strong yen and declining sales of liquid crystal display TVs and video game machines. The Japanese electronics and entertainment company Thursday reported a quarterly loss of 24.6 billion yen ($316 million) compared with a 15.5 billion yen loss a year earlier.
Sharp to cut 5,000 jobs as quarterly loss worsensTOKYO (AP) _ Japanese electronics maker Sharp Corp. is slashing 5,000 jobs over the next year, or nearly 9 percent of its global workforce, after its quarterly loss ballooned from a year earlier. Osaka-based Sharp reported Thursday that its April-June loss swelled to 138.4 billion yen ($1.8 billion) from 49 billion yen of red ink a year earlier.
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