IN THE PAPERS
In The Papers 15 October
15-10-2010
by Sylvia Leatham
Openet swings into black | Google posts 32pc profit surge
The Irish Times notes that it has launched a new application for the iPhone and iPad that gives subscribers access to the digital version of the newspaper. The app is free for those who have a subscription to the epaper. The epaper, which was launched on Irishtimes.com in March, offers a replica of the daily newspaper in a digital format, with enhanced functions such as audio versions and article translation.
The paper also says that Openet Telecom posted its first profit last year as turnover increased nearly 50 percent to EUR46.1 million. The software company reported a pre-tax profit of EUR1.2 million, compared to a loss of EUR2.3 million in 2008. Chief Executive Niall Norton said Openet had planned to be "IPO-ready in 2011", but this would be delayed due to a lawsuit filed by Amdocs, an Israeli competitor, in US courts. Amdocs has filed initial papers claiming patent infringement.
The Irish Examiner reports that primary school students say their favourite subjects are physical education, science and art, but they share teachers' concerns about small classrooms and outdated computers. Children at eight primary schools spoke to ESRI researchers for a study on school design. Pupils reported limited use of computers in day-to-day learning, even in newer schools. Meanwhile, Tanaiste Mary Coughlan announced on Thursday that a teaching computer for every class will be given to almost 700 second-level schools in the coming days.
According to the Wall Street Journal, Google has posted a 32 percent rise in profit and a 23 percent hike in revenue, on the back of strong search-ad sales. The company posted a third-quarter profit of USD2.17 billion, or USD6.72 a share, up from USD1.64 billion, or USD5.13 a share, a year earlier. Revenue was USD7.29 billion, up from USD5.95 billion a year ago. The results show how Google is benefiting from a broad recovery in online ad spending this year. Paid clicks rose 16 percent in the quarter compared with a year earlier, and the average price that marketers paid Google per click increased 3 percent from a year earlier.
The paper also says that mobile maker Sony Ericsson has posted a modest profit for the third consecutive quarter, although unit sales fell and earnings for the quarter came in slightly below market expectations. The mobile company reported net profit of EUR49 million for the period, compared to a EUR164 million loss a year earlier. This fell short of analyst expectations for a EUR67 million profit, however. "Our strategy to focus on the smartphone segment is succeeding and smartphones now comprise more than 50 percent of our total sales," said Chief Executive Bert Nordberg.
The Financial Times reports that Yahoo has hired Goldman Sachs to advise it in light of possible takeover approaches by private equity groups. Silver Lake Partners and other groups have had what sources described as "very, very early" talks about a bid for Yahoo. No one involved has yet approached Yahoo, sources said. Any bid would face substantial hurdles, including Yahoo takeover defences adopted two years ago when Microsoft made offers for the Silicon Valley company, which is now valued at more than USD21 billion.
The paper also notes that Verizon Wireless and AT&T stores in the US will begin selling Apple's iPad later this month. "The combination of these two new agreements, along with the iPad launch at Target on 3 October and Walmart's plans to begin selling iPads on 15 October will continue to drive better-than-expected demand for iPad, " said Brian White, an analyst with Ticonderoga Securities. White said he also believes China Unicom will begin offering the iPad before the year is out.
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