quarterly

It took awhile, but the recession has definitely sunk its teeth into Google's financial performance.

"No company is recession-proof. Google is absolutely feeling the impact," Google CEO Eric Schmidt said in a conference call Thursday after reporting first-quarter financial results.

The company, as is customary, reported results that most business only dream of, recession or not. Its net income grew 8 percent to $1.42 billion and its revenue, excluding commissions paid to advertising partners, grew 10 percent to $4.07 billion. It generated free cash flow of $2 billion for the quarter, the vast majority of … Read more

Updated at 4:05 p.m. PDT with additional earnings highlights and comments from CEO Paul Otellini.

Intel's first-quarter profit fell about 56 percent from a year earlier, but Chief Executive Paul Otellini said PC sales were bottoming out.

Net income was $647 million, or 11 cents a share, down from $1.4 billion in the year-earlier period. Revenue was $7.1 billion, down about 27 percent from the $9.7 billion reported in the same period last year. Wall Street estimates were around 3 cents a share on revenue of $7 billion.

"We believe PC sales bottomed … Read more

Updated at 12:20 p.m. PST with additional information about salary cuts.

Nvidia is buying up underwater stock options from employees and cutting salaries across the company amid a steep revenue falloff.

On Tuesday, the graphics chip supplier posted a fourth-quarter loss of just under $148 million and a 60 percent drop in revenue as demand for its graphics chips dried up.

"November fell off a cliff," said CEO Jen-Hsun Huang, addressing the decrease in demand, during an earnings conference call Tuesday. Chief Financial Officer Marvin Burkett added that "December was worse."

In the aftermath … Read more

Correction, 2:44 p.m. PST: This story initially misstated the day Nvidia slashed its revenue guidance by up to 50 percent. It was January 13.

Nvidia posted a fourth-quarter loss of just under $148 million and a 60 percent drop in revenue as demand plummeted.

On Tuesday, the largest graphics chip supplier reported a loss of $147.7 million, or 27 cents a share, compared with a profit of $257 million, or 42 cents a share, in the year-earlier period.

The Santa Clara, Calif.-based company posted revenue of $481.1 million, down 60 percent from the $1.2 … Read more

Applied Materials warned Monday of a first-quarter loss. One of the biggest charges cited was doubtful accounts, as customers failed to pay up.

The largest maker of chip production equipment said that it expects a net loss in the range of 9 cents to 11 cents per share for its first fiscal quarter, which ended January 25. It pointed to a restructuring charge of approximately $133 million (or 6 cents per share) associated with a cost reduction program announced on November 12, 2008, as the largest charge. At that time, Applied said it would cut 1,800 jobs, or about … Read more

Jon Peddie Research said Thursday that estimated graphics chip shipments in the fourth quarter plummeted 34 percent from the third quarter--a very atypical month-to-month decline.

"The fourth quarter is usually a positive quarter for the computer industry. There has obviously been some inventory problems in the quarter," said Jon Peddie, president of Tiburon Calif.-based research firm, in a statement.

And it will get worse. "We're...bracing for what will probably be the worst Q1 and Q2 decline we've seen since the Internet bubble pop of 2000," he warned.

Total shipments of GPUs for … Read more

Updated at 3:13 p.m. PST with details from conference call.

Yahoo handily cleared Wall Street's pessimistic earnings expectations for a grim fourth quarter and matched anticipated revenue, but charges swung the Internet pioneer to a net loss for the quarter.

The company reported a net loss of $303 million for the quarter ended December 31, compared with net income of $206 million from the year-earlier quarter. The loss was a goodwill impairment charge of $488 million and restructuring charges of $108 million. Revenue, excluding commissions to partners dubbed traffic acquisition costs, dropped 2 percent, to $1.38 … Read more

Updated at 4:00 p.m. PST throughout

Texas Instruments posted a sharp drop in profit as it looks to cut 12 percent of its workforce.

TI's fourth-quarter profit fell 86 percent to $107 million, or 8 cents a share, from $756 million in the same period last year, or 54 cents a share. Excluding restructuring charges, TI had earnings of 21 cents a share, exceeding the 12 cents forecast by Wall Street analysts.

Revenue was $2.49 billion, down 30 percent, from $3.56 billion last year. The company also warned that revenue in the first quarter would … Read more

Updated at 6:15 p.m. PST with AMD statement about a letter it received from Intel on January 20.

Advanced Micro Devices on Thursday reported a bigger-than-expected net loss of $1.4 billion for the fourth quarter of 2008. This is the chipmaker's ninth consecutive quarterly loss.

AMD also disclosed that it received a letter from Intel regarding the two companies' patent cross-licensing agreement.

The $1.42 billion loss, or $2.34 per share, was below the $1.77 billion loss, or $3.06 per share, reported a year ago but worse than Wall Street analysts had expected… Read more