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Samsung has sailed to record quarterly profits — despite difficulties with its memory sales — as the company’s top-of-the-line smartphones smacked Apple and crushed HTC. Meanwhile, HTC’s earnings slipped in the face of strong competition. Samsung on Friday reported strong profit for its fourth quarter — $4.5 billion — beating analyst expectations by roughly 10 percent.
Kodak, the 131-year-old photographic equipment company that has seen its stock value tumble with the advent of digital imagery, is selling off its patents to avoid a Chapter 11 filing, according to a recent report. The company, once the unequivocal leader for photographic film, helped invent the digital camera in 1975 but was unable to capitalize on the technology, unlike companies such as Canon and Nikon.
Research In Motion posted its third-quarter earnings data on Thursday, reporting a 71 percent drop in net income and revealing that its long-awaited next-generation smartphone platform will arrive later than expected. The company reported revenue of $5.2 billion, up 24 percent from last quarter but still under Wall Street expectations.
It looks as though Zynga was right to err on the side of caution when it priced its long-awaited IPO on Thursday evening. The social media gaming company priced the offering at a very conservative $10 per share, below the rumored $12 price per share that it was said to be considering. On Friday morning, trading of Zynga’s shares began on the Nasdaq Stock Market at $11 per unit.
Best Buy’s fiscal third-quarter profit fell 29 percent, surprising analysts and retail observers who had been expecting stronger results. For the quarter ended Nov. 26, the electronics retailer posted a profit of $154 million, or 42 cents a share. In the same period a year earlier, it reported a profit of $217 million, or 54 cents a share.