Gene-sequencing company Illumina late Monday reported blowout third-quarter earnings and sales growth, and raised its full-year guidance, sending the stock up 10% in after-hours trading. Earnings, excluding one-time items, rose 71% vs. a year earlier to 77 cents a share, topping the analyst consensus by 21 cents, according to Thomson Reuters. Sales rose 35% to $481 million, the best year-over-year gain in more than three years and
Time Warner’s decision to sell HBO on the Web in 2015 and CBS’ plans to launch a subscription streaming service are fresh proof to pay-TV companies that the trend is not their friend. Federal regulators are mulling rules to help Internet TV providers acquire content and live programming from media companies. Dish Network (DISH), Verizon Communications (VZ) and Sony are ramping up Internet video, also called over-the-top (OTT)
Search giant Google reported weaker-than-expected Q3 earnings and revenue late Thursday as expenses soared and advertising growth slowed amid stiff competition. Google (GOOGL) earned $6.35 a share excluding various items, up 18% vs. a year earlier but 18 cents below what analysts polled by Thomson Reuters had expected. Revenue also missed the mark. While total sales rose 20% to $16.52 billion, analysts had expected $16.58