Sony Ericsson reports higher Q2 sales, profit below estimates
New York: The world's fourth-biggest mobile phone company, Sony Ericsson, which is a joint venture between Sweden's Ericsson and Japan's Sony Corp, reported higher Q2 sales on Wednesday but its profit and its average phone sale prices were below analysts' expectations.

Known for higher-end music phones based on its Walkman brand, Sony Ericsson said it gained market share in the quarter by selling lower-priced phones that widened its potential customer base.

Sony Ericsson posted pretax profit of 327 million euros ($450 million), up from 211 million euros a year ago.

Sales rose to 3.1 billion euros from 2.27 billion euros a year ago, in line with average analyst expectations.

Sony's shares rose 0.3 per cent to 6,350 yen in Thursday morning trade in Tokyo, in line with the Nikkei benchmark.
Back to News Review index page  

Motorola sees no profit from mobiles in 2007
New York: Motorola Inc expects to show a loss in Q2 this year and said it no longer expected its mobile phone business to be profitable this year, blaming weak sales in Asia and Europe.

The company, which postponed its annual analyst meeting, said it would post a second-quarter net loss from continuing operations ranging from 2 cents to 4 cents per share on sales of $8.6 billion to $8.7 billion.

The actual results will be released on July 19.

Motorola also backtracked on its previous target for the mobile unit to make a full-year profit, and said its second-quarter operating loss would be wider than in the first quarter.
Back to News Review index page  

LSE achieves record revenues
London: The London Stock Exchange has reported record first-quarter revenue of 100.1 million pounds ($203 million) on Wednesday.

LSE's revenue for the three months ended June, the first quarter of its financial year, rose 19 percent from a year earlier as initial public offerings (IPOs) hit their highest level in six years.

The LSE said revenue from its issuer services rose 35 per cent to a record 19.4 million pounds in the first quarter as 128 IPOs raised a total of 10.2 billion pounds ($20.68 billion). That was more than double the 4.7 billion pounds raised by 138 IPOs in the same quarter last year. There were 43 IPOs on the main board in the first quarter, the highest level in six years. The LSE announced its takeover of Borsa Italiana on June 23.
Back to News Review index page