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Press Releases

UPDATE 2-Fitbit profit forecast trails estimates, shares gasp

*Sees 2nd- qtr profit of 8- 11 cents vs est 26 cents. Zerella said Fitbit would need to ramp up investments in markets such as China and India as it builds a "global brand." Fitbit's operating costs nearly tripled to $215 million in the first quarter ended April 2, largely due to spending on marketing the $200 Blaze smartwatch and the Alta wristband, the company's first...

Source: Reuters

UPDATE 2-Sprint's loss widens, vows to cut $2 billion in costs this year

May 3- Sprint Corp on Tuesday reported a wider quarterly loss and added fewer subscribers than expected, but vowed to cut more than $2 billion in costs in the current fiscal year to stop the red ink. Sprint's net loss widened to $554 million, or 14 cents per share, from $224 million, or 6 cents per share, and fell short of the average analyst estimate of a net loss of 12...

Source: Reuters

UPDATE 3-Viacom narrows down bidders for Paramount stake to handful -CEO

April 28- Viacom Inc has narrowed the number of bidders for a minority stake in its Paramount Pictures movie studio from more than 40 to a handful and expects to begin negotiations late next month, Chief Executive Officer Philippe Dauman told analysts on Thursday morning. The owner of networks including Comedy Central, MTV and Nickelodeon said domestic ad...

Source: Reuters

UPDATE 2-Viacom profit beats, but U.S ad sales lag

The owner of such networks as Comedy Central, MTV and Nickelodeon said domestic ad revenue dropped 5 percent in the second quarter ended March 31, more than the 3 percent that analysts expected. "It's hard to convey optimism about Viacom when the numbers aren't showing improvement," said Pivotal Research analyst Brian Wieser. Viacom, like its peers, has struggled...

Source: Reuters

UPDATE 2-EBay attracts more shoppers, earnings beat expectations

The company said its gross merchandise volume, or the total value of all goods sold on its sites, rose 1 percent to $20.45 billion in the first quarter ended March 31. Stubhub posted revenue of $177 million, up 34 percent from the same period last year, while classifieds grew 15 percent year-over-year with sales of $186 million. EBay forecast current-quarter...

Source: Reuters

UPDATE 4-T-Mobile swings to a profit driven by customer gains

Shares in T-Mobile were last down 2 percent at $40.32, reversing earlier gains. Chief Executive John Legere led the rollout of a series of consumer-friendly offers such as the free video streaming option "Binge On," data rollover plans, and social media campaigns in the past three years. "Churn ticked up slightly, likely on the heels of more aggressive competition...

Source: Reuters

UPDATE 3-T-Mobile posts higher-than-expected earnings as customers climb

April 26- T-Mobile US Inc on Tuesday reported better-than-expected earnings and raised its 2016 forecast for customer additions, as competitively priced plans and free video streaming options helped it add over 1 million new monthly subscribers for the seventh consecutive quarter. Shares in T-Mobile rose 2.6 percent in premarket trading on Tuesday, after...

Source: Reuters

UPDATE 3-Worker strike to pressure Verizon earnings; Q1 net income meets estimates

If the strike, now in its second week, goes on for an extended period, it could pressure full-year earnings, Chief Financial Officer Fran Shammo said in an interview. Net income attributable to the company rose to $4.31 billion, or $1.06 per share, in the first quarter, meeting analysts' expectations. A year earlier, net income was $4.22 billion, or $1.02 per share.

Source: Reuters

UPDATE 2-Verizon earnings meet estimates; strike poised to hurt current quarter

April 21- Verizon Communications Inc said profit in the first quarter met expectations as strong tablet sales helped it add new subscribers, though an ongoing strike by its wireline workers was expected to hurt earnings in the current quarter. In the wireline business, consumer revenue of $4 billion was relatively unchanged from a year ago.

Source: Reuters

Dating site eHarmony sees rev from new job portal late this year

The new website, called Elevated Careers, will be offered free for job seekers for now, while companies looking to hire can sign on for free trials, Dan Erickson, director of special projects, said in an interview. EHarmony had also expected 2015 revenue to grow in "high and double-digit" percentages to between $275 million and $350 million. In the online dating space,...

Source: Reuters