Google stocks slump despite record $14 billion quarter

Despite a big announcement around the corner and the critical acclaim its Nexus 7 tablet has received Google had a shock yesterday when its shares actually dropped

 

Google have posted a record breaking quarter with revenues of $14.10 billion but an embarrassing leak of the results early in the day whilst the stock market was still open resulted in a sharp decrease in value of shares because the results didn’t meet expectations.

Google blamed financial printer PR Donnelley for the mistake which capped an embarrassing day for it as YouTube went offline and the release of Google’s new Samsung Chromebook was leaked early.

The SEC document, which is provided to the stock market and investors was leaked so early that it lacked any comment from Google on the results and had a placeholder marked “PENDING LARRY QUOTE” referring to Larry Page, CEO of Google.

The document showed Google reporting $14.10 billion in revenue and EPS of $6.53, which missed most analyst predictions - they were expecting $14.7 billion in revenue. The stock quickly began to suffer; going down around 9% by the time trading was halted at 12:50 pm US Eastern time.

All in all revenues were reported as being up 45 percent compared with Q3 2011, but GAAP (generally accepted accounting principles) net income was down 20 percent year-over-year to $2.18 billion ($6.53 per share), as compared with $2.73 billion in Q3 2011 ($8.33 per share). The decline was due to rising costs.

In a statement following the leak Google's CEO Larry Page remained positive about Google's future saying,

"Now we took a big bet on Android back in 2005. We believed that aligning standards around an open source operating system would drive innovation across the industry. Most people thought we were nuts."

"Today there are over half a billion Android devices-half a billion - with 1.3 million more being activated every day. You should all run out and buy the Nexus 7 tablet for $199. It’s had rave reviews and recently won “Gadget of the Year” from T3, the gadget experts."

Motorola’s hardware business brought in $2.58 billion in revenue ($1.78 billion from mobile and $797 million from home). Its operating loss was $527 million. However, despite the loss from Motorola that extra revenue pushed Google over the $14 billion mark for the first time in 14 years.

Google are expected to announce new products on October 29^th at their New York press event which will most likely involve a new flagship Nexus phone and high resolution retina-display style tablet

Source : rss[dot]feedsportal[dot]com

Red Bull jump was 'at the edge of human capability'

Red Bull and Felix Baumgartner broke world records yesterday but to do that they needed the help of some seriously impressive tech that in the case of LifeMonitor, had never been tested at supersonic speeds

 

Felix Baumgartner's record breaking jump from the edge of space was an experiment that was performed at 'the edge of human capability' according to UK-based Equivital CEO, Anmol Sood.

Equivital provided their advanced EQ02 LifeMonitor system for the jump which monitored Felix's heart rate, heart rate variability, breathing rate, body temperature, body activity and acceleration.

While Equivital's equipment was more than up to the task it was still completely untested ground as Sood explains, "This is the first time that we will be able to see data from a human freefalling at supersonic speed. It is essential to understand the impact of environment, speed and his equipment on how his body regulates and responds to the challenge."

Despite the risks involved Sood believes that the jump was more than worth it with the data being collected proving to be invaluable in furthering our knowledge of how the human body responds to such challenges and how we can use technology to compensate.

"This was a scientific experiment performed at the edge of human capability by a very brave man [and] we are already being approached by air force, air ambulance and space medicine institutes on application of the technology in these environments."

Sood went on to point out that being able to monitor Felix's state of the art suit was "very important for the use of such suits in future space travel or for use by the military".

Apparently they're still crunching the numbers but you can be sure that the moment we get those eye-watering stats through we'll be throwing them your way.

Source : rss[dot]feedsportal[dot]com

UK mobile networks roll out 4G timetable

UK mobile network operators agree to set aside differences in order to speed up 4G timetable

Under plans agreed upon at a meeting yesterday between the UK's mobile network operators and Culture Secretary Marie Miller, the UK is set to have 4G services up and running by the end of summer in 2013. At the meeting representatives from O2, Vodafone and Everything Everywhere, brokered a deal with Ofcom to bring 4G services forward by six months.

 

This effectively shortens the headstart currently enjoyed by Everything Everywhere - the parent company of combined mobile networks, Orange and T-Mobile - who plan to launch the country's first 4G network by the end of this month. The reason it's able to do this is because it owns enough spare bandwith to be able to launch such a network earlier than its rivals, who still need to wait for Ofcom to auction off enough government airwaves to enable their own separate 4G networks.

At the meeting with Marie Miller, EE's rivals agreed not pursue legal action against it over Ofcom's decision to allow EE to introduce 4G this year by re-using existing mobile spectrum.

The Culture Secretary welcomed the news, saying "delivering 4G quickly is a key part of our economic growth strategy. I am grateful to the mobile operators for their co-operation in bringing forward vital 4G services."

"By speeding up the delivery of 4G in the UK, the government is creating enormous opportunities. It is up to the operators to now deliver the services that businesses and consumers expect and we are confident they will succeed," she added.

Source : rss[dot]feedsportal[dot]com