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Sohu slides as investors not game for higher ad spend (Reuters)
BANGALORE/CHICAGO (Reuters) – Chinese Web portal Sohu.com Inc’s shares fell much more than 11 percent on Monday, as a 37 % rise in quarterly net profit failed to impress investors amidst falling gross margins and higher operating bills.
“Even though Sohu’s net income has risen in 3 straight quarters … the major location of concern appears to be that this is the fifth straight quarter that it saw shrinking gross margins,” TD Ameritrade’s chief derivatives strategist JJ Kinahan said.
Above the five-quarter period, margins have contracted virtually 1.75 % per quarter on a year-above-year basis, he mentioned.
“The damaging reaction… Continue reading
Web sales increase 19% for N Brown Group in fiscal 2011
N Brown Group Plc., 1 of the most significant direct marketers of apparel, housewares and related categories in the United Kingdom, is reporting wholesome net sales for the 2011 fiscal year.
For the 2011 fiscal year ended Feb. 26, N Brown, which owns and operates JD Williams and about 30 other brands and is No. 36 in the Net Retailer Best 300 Europe, reported:
- Net sales increased about 19% to 324. million pounds (US$ 525.2 million) from 272.five million pounds (US$ 441.7 million) in fiscal 2010.
- Total sales increased about 4.2% to 718.8 million pounds (US$ 1.165 billion) from… Continue reading
Internet services are second in profit in SV150
Web solutions held its position in 2010 as the most worthwhile sector of the SV150 soon after biotech, but the fortunes of the sector’s eight businesses spanned a wide range.
Los Gatos-based Netflix (NFLX), enjoying the benefit of efficiently attracting new consumers and converting existing consumers to streaming movies more than the Net from its standard rent-by-mail DVD enterprise, enjoyed a 219 % jump in industry worth, to $ 12.6 billion. Profit grew by 39 %.
For Netflix, “last year was type of an inflection point” in the transition to streaming movies, mentioned Atul Bagga, a senior analyst with ThinkEquity.… Continue reading
Do you Qihoo? Chinese Internet IPO goes nuts
NEW YORK (CNNMoney) — Chinese Net company Qihoo 360 went public with a bang Wednesday morning on the New York Stock Exchange, with shares right away doubling at the begin of trading.
Qihoo 360 (QIHU) priced its stock at $ 14.50 a share, but shares opened at $ 27 and swiftly soared as high as $ 33.40. The business raised much more than $ 175 million in its IPO.
The Internet computer software business sells antivirus computer software and security services. it also develops Net-based games and makes the… Continue reading
Demand Media post 4Q profit, revenue rises 33 pct (AP)
SAN FRANCISCO – On the internet content material manufacturer Demand Media Inc. made cash for the first time in the fourth quarter.
It posted earnings of $ 1 million in the final 3 months of 2010, compared with a loss of $ 3.9 million in the prior year.
But the positive results turned into a loss for accounting purposes simply because of preferred stock that converted to typical shares as aspect of Demand Media’s initial public offering of stock final month. Factoring in that conversion, Demand Media lost $ 7.6 million, or 54 cents per share. That conversion formula won’t… Continue reading
Pandora hopes IPO a path to profit (AFP)
OAKLAND, California (AFP) – Leading US World wide web radio service Pandora on Friday filed plans with US regulators for an initial public offering of stock to raise as considerably as $ 100 million.
Pandora indicated that it is going public in a bid to get the dollars it needs to develop and turn out to be worthwhile, and to deal with an accumulated operating deficit of $ 83.9 million.
“A key element of our technique is to aggressively increase the quantity of listeners and listener hours to improve our marketplace penetration,” Pandora stated in a filing with the US… Continue reading
EBay 4Q revenue rises, helped by holiday shoppers (AP)
SAN FRANCISCO – EBay Inc. stated Wednesday that its fourth-quarter revenue rose five percent, as the healthy holiday shopping season bolstered growth in its on-line marketplace and PayPal online payments business.
The company’s profit fell, since the year-ago quarter included a significant achieve from the sale of Net communications company Skype. Excluding special items such as the Skype achieve, eBay’s fourth-quarter profit shot up 24 percent.
For the quarter that ended Dec. 31, the San Jose-based organization earned $ 559.2 million, or 42 cents per share, compared with $ 1.35 billion, or $ 1.02 per share, in the year-ago quarter.… Continue reading
