A digest of the top business technology news stories from the past week, focusing on the release of financial results by major players Apple, Twitter, Samsung and LinkedIn.
Apple posts record Q2 earnings with US$58bn revenue, US$13.6bn profits
Apple appears to be going from strength-to-strength as the Californian tech giant posted record second quarter financial results.
The company revealed its revenue was US$58bn, with profits of US$13.6bn, or US$2.33 per diluted share.
These figures compare to revenue of US$45.6bn and net profit of US$10.2bn, or US$1.66 a share, in the same quarter a year ago. This equates to a 27pc revenue growth and 40pc EPS growth for the company, setting new second quarter records.
Twitter Q1 shows 74pc surge in revenues to US$436m
Twitter has reported a 74pc surge in revenues year-on-year to US$436m. However, the company recorded a net loss of US$162m.
Twitter trimmed its second quarter and full-year revenue estimates in a move that disappointed analysts.
In an unexpected twist, Twitter’s results were accidentally tweeted an hour before the New York Stock Exchange’s 4pm closing bell by financial data aggregator Selerity. The breach led to Twitter’s stock value falling by 20pc.
Samsung profits drop 39pc for Q1 as Apple posts record sales once again
Much will be resting on Samsung’s new S6 flagship phone given its latest Q1 2015 financial report shows that profits have fallen by as much as 39pc.
Between January and March this year, Samsung made a net profit of 4.63trn Korean won (KRW) (€4bn), which falls well short of the same total it made last year which was KRW7.49trn.
According to the Associated Press (AP), this was just short of market analysts’ estimates, which had predicted a total profit by Samsung of KRW4.97trn.
Apple’s Irish tax bill could run into billions of dollars, tech giant warns
Apple has warned in a regulatory filing that it may be forced to pay up to 10 years’ worth of back taxes in Ireland if a European Commission investigation finds against it.
Apple, which has a market value of more than US$750bn and which in the past week reported bumper Q2 revenues of US$58bn, led by insatiable global demand for the iPhone, has had operations in Ireland since the early 1980s and employs more than 2,000 people in Cork.
In June 2014 the European Commission issued an opening decision initiating a formal investigation against Ireland for alleged state aid to Apple.
LinkedIn Q1 revenues surge 35pc, but Wall Street is not impressed with outlook
LinkedIn has reported Q1 revenues of US$637.7m, up 35pc on last year, as three of its main businesses fired on all cylinders. However, a weak Q2 outlook spooked investors and sent shares tumbling by 25pc.
The company reported a net loss of US$43m during the first quarter.
LinkedIn reported that Talent Solutions revenue grew 36pc to US$396m and accounts for 60pc of the company’s overall revenues. Revenue from Marketing Solutions totalled US$119m, up 38pc on last year, while Premium Subscriptions revenues amounted to US$122m, up 28pc year-on-year.
Ann O’Dea accepts ICS fellowship as champion for women in STEM
Silicon Republic CEO Ann O’Dea, Minister Richard Bruton, TD, and CPL chief Anne Heraty have been recognised for their contributions to the ICT sector in Ireland.
O’Dea, Heraty and the Minister for Jobs, Enterprise and Innovation were awarded fellowships from the Irish Computer Society (ICS) to mark IT Professionals Day 2015, during the ongoing celebrations of Tech Week.
As co-founder and CEO of Silicon Republic, O’Dea has led the company’s campaign to champion women in STEM (science, technology, engineering and maths) sectors. This has involved the establishment of the Women Invent campaign, which has been actively celebrating and promoting women in STEM since March 2013, and the launch of Inspirefest 2015.
Buy your tickets now!