As quick as an instant streaming download, Netflix shares skyrocketed more than 16% to $388 in after hours trading — circling a high for the year — on the news the the video streaming phenomenon beat earnings expectations. The company reported full year net income of $112.4 million, crushing the Street’s call for $103.4 million. Earnings per share were $1.85, also well ahead of the Wall Street consensus estimate.
Cowen and Company managing director Timothy Arcuri issued an investor’s note today claiming that his supply chain sources confirm that the screen size for the next iPhone will be 4.8 inches. Apple Insider credits Arcuri with saying that the design for the new phone is “locked down” with that larger screen size and the new 802.11ac Wi-Fi standard.
Nintendo’s Wii U home video game console isn’t exactly dead and buried yet, but at this point it’s safe to call the device a complete and utter flop . Things may have gotten so bad that, according to one report, Nintendo is already starting to work on the Wii U’s successor. According to a report from Nintendo News , which cites a tip from one of the blog’s “very reputable sources,” Nintendo’s next-generation video game console will be a hybrid device called the Nintendo Fusion.
VMware agreed to pay $1.54 billion for AirWatch, an Atlanta start-up that specializes in mobile device management on Wednesday. Patrick Gelsinger, the chief executive of VMware, said "The seas are parting,” he said. “There are those older companies that are moving forward, and those that have to retrench.” On the “retrench” side, Mr. Gelsinger may have been referring to IBM and Intel, both of which are likely soon to lay off employees involved in decaying businesses.