Twitter CEO Jack Dorsey Responds To #RIPTwitter, Denies Plans To Alter Timeline: “We Get It”
Depending on your point of view, either just denied a rumor about the future of the service, or it blinked in the face of universally negative reaction. Either way, Twitter CEO Jack Dorsey has this afternoon taken to his personal account to directly address the #RIPTwitter controversy that exploded overnight in response to reports that, beginning next week, the social media powerhouse’s reverse chronological newsfeed would be replaced by a algorithmic feed similar… Read
Yahoo Confirms It’s Exploring Sales, Cutting 15% Of Workforce As Part Of Overhaul Plan
UPDATE with details from earnings call: Yahoo reported fourth-quarter and full-year earnings today and confirmed widespread media reports that it was cutting 15% of its workforce, or about 1600 jobs, as well as exploring “strategic alternatives” will mean sales of non-strategic assets that it estimates will generate more than $1 billion. CEO Marissa Mayer said during the post-earnings analyst call that it will also eliminate or consolidate some legacy products and look at… Read
Yahoo Poised To Cut 15% Of Workforce, Shutter More Business Units: WSJ
Yahoo CEO Marissa Mayer is expected to announce more widespread layoffs and business unit closures tomorrow after the company reports Q4 earnings, according to a report today in the Wall Street Journal. The specter of job cuts had been looking for some time, as recently as early January after the Internet giant shuttered its Yahoo Screen video hub. At the time, cuts totaling 10% of the workforce (more than 1000 employees), but WSJ reports today the number is “up to… Read
comScore Closes Rentrak Deal Vowing To Expand Audience Measurement Options
comScore just completed the stock swap acquisition of Rentrak it announced in September, creating a digital and TV audience measurement power that could give Nielsen pause.
The combination of comScore’s digital media data with Rentrak’s TV information from set top boxes and movie theaters should make it useful to networks and advertisers that want more insight into audience behavior. The company says that it will measure more than 260 million desktop screens, 160 million… Read
Amazon Shares Skid After It Reports Weaker Than Expected Q4 Earnings
Amazon’s stock price dropped more than 12% in post market trading — giving up impressive gains earlier today — after it reported Q4 earnings that fell far short of Wall Street expectations.
The e-retailer reported $482 million in net income, up 125.2% vs the period last year, on revenues of $35.75 billion, up 21.9%. Analysts expected revenues to hit $35.93 billion. Earnings at $1.00 per share fell far short of the $1.56 in the consensus forecast.
Despite the miss, CEO Jef… Read
Facebook Shares Rise After It Reports Stronger Than Expected Q4 Results
UPDATE, 3:05 PM: Facebook may become a major force in the premium video content business, but execs for now still are playing around the edges based on executives’ comments to analysts in today’s quarterly conference call.
In video, Facebook mostly appeals to users who post their own short clips. “That trend will continue,” COO Sheryl Sandberg says.
CEO Mark Zuckerberg sounded more enthusiastic about the potential for virtual reality via the company’s Oculus VR. But he… Read
FCC Chief Moves To Break Cable And Satellite Control Of Set-Top Boxes
UPDATED, with WGA West statement at bottom: Will set-top boxes become the next hot consumer electronics product? That’s FCC Chairman Tom Wheeler’s goal in a rulemaking proceeding announced today designed to break cable and satellite companies’ grip on the boxes subscribers now pay $20 billion a year to lease so they can watch programming.
The proposal he’s circulating — ahead of a February 18 vote — would require pay TV distributors to let independent manufacturers create… Read
Apple Chief: Company Will Thrive Despite Global Economic “Malaise”
iPhone year-over-year sales will decline for the first time in the current quarter. And Apple CEO Tim Cook says that’s largely due to “the overall [economic] malaise in virtually every country in the world.”
About two-thirds of Apple’s sales come from abroad. And the slowdowns in large countries including China and Russia are “unlike anything we’ve ever seen before,” he told analysts in the company’s quarterly conference call to discuss earnings.
Apple’s sales… Read
Apple Revenues Fall Short Of Wall Street Expectations For December Quarter
Apple’s just-released earnings report probably won’t generate any enthusiasm among investors who have lost faith in the company over the last year, fearing it’s become too dependent on iPhones and on China.
The tech giant reported net income of $18.36 billion for the December quarter, up 1.9% vs the period in 2014, on revenues of $75.87 billion, up 1.7%. Analysts expected revenues to hit $76.59 billion. But earnings at $3.28 a share beat forecasts for $3.23.
The iPhone… Read
Netflix Looks To Grow With Shows That Don’t “Feel Homogenized”
Netflix will have to overcome several obstacles before it can become a global video power. But execs appeared sanguine about the strategy in a conference call to discuss Q4 earnings, and expectations.
“I think we have only scratched the surface,” CEO Reed Hastings said — supporting a key theme Wall Street supporters use against the claim that Netflix’s stock isn’t overpriced after appreciating about 124% over the last year. “We have tremendous potential growth ahead of… Read
Netflix Shares Rise After It Beats Q4 Expectations For Overseas Subs
Netflix’s stock price is up more than 9% in post market trading after it released mixed results for Q4 — but with an upbeat forecast for the current quarter.
The streaming video giant reported net income of $43.2 million, down 48.2% vs the year-end period in 2014, on revenues of $1.82 billion, up 22.8%. The top line is a little shy of Wall Street’s expectation for $1.83 billion. After adjusting for tax accruals, earnings came in at 7 cents a share, beating predictions for… Read
‘Mercy Street’ Headed To Amazon In Streaming Deal
The new Civil War drama Mercy Street is marching to Amazon with an exclusive SVOD deal. Amazon Prime subscribers in the U.S. will have access to episodes of the series seven days after they air on PBS. Episode 1 will be available on Amazon Video for free in the lead-up to Sunday’s series premiere.
Set in 1862 Virginia, the six-episode Mercy Street revolves around two volunteer nurses on opposite sides of the War Between the States: Mary Phinney (Mary Elizabeth Winstead, a… Read