Seeking Alpha
  • Tuesday, November 25, 2014

  • 7:05 PM
    • Perfect World (NASDAQ:PWRD) expects Q4 revenue of RMB1.023B-RMB1.072B ($166.6M-$174.6M), in-line with a $171.9M consensus.
    • Thanks to the strong performance of mobile games such as CrossGate Mobile and Forsaken World, online game revenue rose 23% Y/Y to $149.8M. However, average concurrent users for PC games fell to 623K from 778K. Licensing revenue fell 1% to $6.3M.
    • Gross margin fell to 69% from 73.1% in Q2 and 77.8% a year ago. Opex rose 33% Y/Y (exceeding revenue growth of 17%) to $113.3M.
    • Q3 results, PR
    | Comment!
  • 6:54 PM
    • TIVO's FQ3 service & technology revenue totaled $88.1M, +8% Y/Y and slightly above an $87.9M consensus. However, S&T revenue is expected to be in a range of $87M-$90M in FQ4, below a $90.5M consensus.
    • 328K subscribers were added, up from 263K in FQ2. MSO subs grew by 337K to 4.2M, and TiVo-owned subs fell by 9K to 928K.
    • MSO service revenue +37% Y/Y to $10.6M; TiVo-owned service revenue -7% to $21.8M; all other services +86% to $4.3M, boosted by a 21% Q/Q increase in Digitalsmiths revenue.
    • Tech (licensing) revenue +7% to $51.4M; hardware revenue -15% to $30.4M.
    • GAAP opex -5% to $53.1M. $128M was spent on buybacks.
    • FQ3 results, PR
    | Comment!
  • 6:32 PM
    • State-owned Xinhua reports Microsoft's (NASDAQ:MSFT) Chinese subsidiary has agreed to pay RMB840M ($137M) in back taxes and interest, as well as over RMB100M/year in taxes going forward.
    • Though Xinhua doesn't specifically name Microsoft, the software giant is the only company fitting the paper's description - a U.S. multinational whose name starts with "M," is one of the world's 500 biggest companies, and which established a Beijing subsidiary in 1995.
    • Microsoft is still dealing with a Chinese antitrust probe amid intense post-NSA scrutiny of U.S. tech giants in general. The company has long complained about the huge impact of piracy on its Chinese sales.
  • 6:07 PM
    • Though it beat Q3 estimates, Ctrip (NASDAQ:CTRP) is guiding for 30% Y/Y Q4 revenue growth. Consensus is for 32.5% growth.
    • Q3 accommodation revenue +56% Y/Y to $155M; transportation ticketing +32% to $130M; packaged tours +12% to $58M; corporate travel +45% to $17M.
    • However, aggressive spending led op. margin to fall to 11% from 27% a year ago, and EPS to $0.36 from $0.51. R&D spend +83% Y/Y to $100M; sales/marketing +69% to $97M; G&A +40% to $39M.
    • Gross margin was 72%, flat Q/Q but down from 75% a year ago. Mobile app downloads rose 75% Q/Q to 350M.
    • Price pressure: While accommodation and ticketing revenue respectively rose 56% and 32% Y/Y, volume growth was 69% and 98%.
    • Q3 results, PR
    | Comment!
  • 5:53 PM
    • CNBC reports Twitter (NYSE:TWTR) has held talks with Shots, a Justin Bieber-backed developer of iOS/Android apps for taking and sharing selfies.
    • Shots reportedly has 3M+ users, nearly 2/3 of whom are women under 24. Twitter, meanwhile, has built a huge base for its Vine 6-second video service.
    • The report comes a day after CFO Anthony Noto accidentally tweeted out an apparent direct message about M&A talks. Noto: "I still think we should buy them. He is on your schedule for Dec 15 or 16 -- we will need to sell him. i have a plan."
    • Re/code also reports Twitter has talked with Shots.
  • 5:37 PM
    • AeroVironment (NASDAQ:AVAV) still expects FY15 (ends April '15) revenue of $250M-$270M (in-line with a $258.6M consensus) and gross margin of 34.5%-37.5%.
    • Funded backlog totaled $125.2M at the end of FQ2, up from $82M at the end of FQ1 but down from $133.8M a year earlier.
    • UAV division revenue fell 23% Y/Y to $43M; EV charging division revenue rose 9% to $9.6M.
    • Gross margin fell to 34% from 37%. GAAP SG&A spend rose 3% Y/Y to $13.5M; R&D spend rose 24% to $8.5M.
    • FQ2 results, PR
    | Comment!
  • 5:18 PM
    • Analog Devices (NASDAQ:ADI) expects FQ1 revenue of $745M-$775M and EPS of $0.58-$0.64 vs. a consensus of $766.4M and $0.62.
    • FQ4 gross margin was 66.4%, -10 bps Q/Q and +80 bps Y/Y, and slightly above guidance of 66.2%. GM is expected to fall to 65% in FQ1.
    • Opex fell to 33.1% of revenue from 33.8% a year ago. $187.4M was spent on buybacks.
    • Thanks to the Hittite acquisition, telecom chip revenue rose 56% Y/Y to $218.2M, and made up 27% of total revenue. Industrial chip sales, which received a smaller boost from Hittite, rose 19% and were 45% of revenue. Auto (17% of revenue) +2%; consumer (11% of revenue) -3%.
    • FQ4 results, PR
    | Comment!
  • 5:11 PM
    • Xunlei Limited (NASDAQ:XNET): Q4 EPS of $0.0345
    • Revenue of $49.2M (+1.4% Y/Y).
    • Press Release
    | Comment!
  • 5:04 PM
    • Perfect World (NASDAQ:PWRD): Q3 EPS of $0.41 beats by $0.01.
    • Revenue of $158.7M (+16.6% Y/Y) misses by $2.19M.
    • Press Release
    | Comment!
  • 5:00 PM
    • Though it beat Q3 estimates, 21Vianet (NASDAQ:VNET) is guiding for Q4 revenue of RMB812M-RMB848M ($132.2M-$138.1M), +61% Y/Y at the midpoint but well below an RMB901.1M ($146.8M) consensus.
    • Q4 adjusted EBITDA is expected to be in a range of RMB152M-RMB168M, and full-year adjusted EBITDA guidance has been cut to RMB551M-RMB567M from RMB600M-RMB630M.
    • The guidance is attributed to the transition to VAT collection and revised expectations for its cloud and managed network services (MNS) businesses. SA author Trinity Research has asserted MNS runs ghost offices, and that its subsidiaries are operating illegally.
    • Q3 hosting/related service revenue +52% Y/Y to $83.6M. MNS revenue +50.4% to $43.2M. Opex rose 21.1% to $23.3M.
    • Q3 results, PR
    | Comment!
  • 4:46 PM
    • Veeva (NYSE:VEEV) expects FQ4 revenue of $84.5M-$85.5M and EPS of $0.08-$0.09, above a consensus of $81.6M and $0.07.
    • Subscription revenue (73% of total revenue) rose 58% Y/Y in FQ3 to $61.4M. Services/other revenue rose 43% to $22.4M. The deferred revenue balance stood at $84.7M at quarter's end, -1% Q/Q and +25% Y/Y.
    • Op. margin rose to 28.7% from 21.6% a year ago, even as GAAP opex grew 42% to $33.5M.
    • FQ3 results, PR
  • 4:40 PM
    | 1 Comment
  • 4:33 PM
    • Along with its FQ1 results, Infoblox (NYSE:BLOX) has announced Cisco vet Jesper Andersen is its new CEO, effective Dec. 8. Andersen, who was once Cisco's in charge of Cisco's Prime network management/analysis tools, replaces Robert Thomas, who announced plans to step down in May.
    • FQ2 guidance is healthy: Revenue of $66.5M-$68.5M and EPS of $0.04-$0.05 vs. a consensus of $66.8M and $0.04.
    • FQ1 product/license revenue -12% Y/Y to $31.5M. Services (fueled by past deals) +28% to $35.2M. EMEA (revenue +14% Y/Y) was a strong point.
    • FQ1 results, PR
    | Comment!
  • 4:29 PM
    • Simulations Plus (NASDAQ:SLP): FQ4 EPS of $0.01
    • Revenue of $2M (+26.6% Y/Y).
    • Press Release
    | Comment!
  • 4:27 PM
    • Cubic (NYSE:CUB): FQ4 EPS of $1.22 beats by $0.28.
    • Revenue of $396.4M (+15.7% Y/Y) beats by $5.91M.
    • Press Release
    | Comment!
  • 4:25 PM
    • H-P (NYSE:HPQ) expects FQ1 EPS of $0.89-$0.93 vs. a $0.93 consensus, and FY15 (ends Oct. '15) EPS of $3.83-$4.03 vs. a $3.95 consensus.
    • FQ4 PC revenue rose 4% Y/Y to $8.9B, a slowdown from FQ3's 12% growth. Commercial PCs +7%; consumer -2%.
    • Printing -5% to $5.7B vs. -4% in FQ3. Hardware units -1%; supplies -7%.
    • Enterprise hardware division revenue -4% to $7.3B, a reversal from FQ3's +2%. x86 servers -2%; storage -8%; business critical systems (Itanium) -29%; networking +2%; tech services -3%. The division just saw a leadership change.
    • Enterprise services -7% to $5.5B. App/business services -6%; IT outsourcing -7%.
    • Software -1% to $1.1B. License revenue +2%, an improvement from FQ3's 16% drop. But SaaS revenue was flat, and professional services down 5%. Financial services -1% to $906M.
    • GAAP gross margin rose 160 bps Y/Y to 24.6%. SG&A spend rose slightly to $3.36B, and R&D spend rose 20% to $876M. $750M was spent on buybacks.
    • HPQ -1.7% AH. FQ4 results, PR.
    | Comment!
  • 4:13 PM
    • 21Vianet Group (NASDAQ:VNET): Q3 EPS of RMB0.09 beats by RMB0.01.
    • Revenue of RMB778.5M (+51.5% Y/Y) beats by RMB4.15M.
    • Press Release
    | Comment!
  • 4:09 PM
    • Infoblox (NYSE:BLOX): FQ1 EPS of $0.05 beats by $0.02.
    • Revenue of $66.71M (+5.0% Y/Y) beats by $2.24M.
    • Shares +4.68%.
    • Press Release
    | Comment!
  • 4:07 PM
    • Hewlett-Packard (NYSE:HPQ): FQ4 EPS of $1.06 in-line.
    • Revenue of $28.4B (-2.5% Y/Y) misses by $360M.
    • Shares -2.29% AH.
    • Press Release
    | Comment!
  • 4:04 PM
    • Veeva Systems (NYSE:VEEV): Q3 EPS of $0.09 beats by $0.01.
    • Revenue of $83.8M (+52.4% Y/Y) beats by $4.84M.
    • Press Release
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