Amazon Reports ‘Best Ever’ Black Friday Kindle Sales
Amazon said Monday that Black Friday resulted in the company's best-ever sales for its Kindle devices, with the Kindle Fire tablet leading the pack.
"Black Friday was the best ever for the Kindle family—customers purchased 4X as many Kindle devices as they did last Black Friday— and last year was a great year," Dave Limp, vice president for Amazon Kindle, said in a statement. "In addition, we're seeing a lot of customers buying multiple Kindles—one for themselves and others as gifts—we expect this trend to continue on Cyber Monday and through the holiday shopping season."
The company did not release exact sales figures. In late October, Amazon chief Jeff Bezos said Sept. 28, the day the Fire was announced, was its "biggest order day ever for Kindle," with double the orders from the previous Kindle launch. Earlier this month, an analyst said Amazon took 500,000 pre-orders for the Fire.
HP Suffers Rough Year, Promises Big Changes in 2012
It might be an overstatement to call Hewlett-Packard's 2011 an annus horribilis, but declining profits, a leadership shakeup, and the embarrassing demise of the company's first consumer tablet led CEO Meg Whitman to admit Monday that "this was not HP's best annual performance."
"HP is a company known for its execution, but we did not execute consistently in 2011," Whitman said in a year-end earnings call with analysts. In the former eBay CEO's first such call since taking the helm at HP in September, Whitman said the computing giant was not "taking full advantage of and leveraging" its disparate parts and had presented a "confusing" picture to investors over the past year.
Foremost among the mixed signals HP sent in 2011 was former CEO Leo Apotheker's statement that the company might spin off its market-leading consumer PC business before Whitman rescinded that potential offer when she took over.
Netflix Beats Estimates; Balance Shifts to Streaming
By Mark Hachman
Netflix continued to advance, reporting steady gains in net income, revenue and its number of subscribers.
Netflix also reported that 75 percent of its subscribers have signed up for its streaming-only plan, and that its shipments of DVDs via mail have likely peaked. Netflix also said that Facebook integration would likely be launched before its next earnings report.
Netflix reported net income of $68 million (or $1.26 per share) on revenue of $789 million for its second quarter, an increase of 55 percent and 52 percent, respectively. Netflix global subscribers increased by 70 percent verusus a year ago to 25.56 million.
The Netflix numbers handily outpaced Wall Street.
Microsoft Revenues Hit Record $17.37 Billion
Microsoft reported profits that soared 30 percent from the same period a year ago, as revenues increased 8 percent to a record $17.37 billion.
Microsoft reported net income of $5.87 billion on revenue of $17.37 billion for the company's fiscal fourth quarter. For the entire fiscal year, Microsoft reporte net income of $23.15 billion, a 23 percent increase, on revenue of $69.94 billion, another record, and an increase of 12 percent from the previous fiscal year.
"Throughout fiscal 2011, we delivered to market a strong lineup of products and services which translated into double-digit revenue growth, and operating margin expansion," said Peter Klein, chief financial officer at Microsoft, in a statement. "Our platform and cloud investments position us for long-term growth."