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Sirius to invest $480 million in Pandora, may be path to music streaming

June 9, 2017 By Liana B. Baker and Aishwarya Venugopal (Reuters) – Sirius XM Holdings Inc said on Friday it will invest $480 million in Pandora Media Inc , giving the satellite radio company better exposure to internet music streaming while providing financial footing to Pandora. While Sirius XM has a strong presence in the auto market, where its channels are offered in most new cars in the United States, it has trailed Pandora and other music providers in mobile and streaming content. The relationship could give Sirius expertise in…

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Coinbase suffers outages amid bitcoin surge

May 25, 2017 (Reuters) – Coinbase said on Thursday it suffered outages this week as the bitcoin exchange saw “unprecedented traffic and trading,” with the digital currency hitting record levels. Bitcoin fell as much as 6.5 percent to $2,263.72 at around 1730 GMT on Thursday, but rebounded shortly after to hit a fresh all-time high of $2,760.10. Bitcoin hit a record on the BitStamp platform on Wednesday, driven by an uptick in demand for crypto-assets, with the creation of new tokens to raise funding for start-ups using blockchain, the underlying…

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Facebook adds Snapchat-like camera filters to Instagram

May 16, 2017 By Angela Moon and Aishwarya Venugopal (Reuters) – Facebook Inc’s Instagram has souped up its camera with quirky face-tracking filters, adding another feature similar to one offered by social media rival Snap Inc’s Snapchat. Instagram users will now be able to choose from eight filters including koala ears that move and twitch as well as math equations that spin to create humorous effects for their photos or videos. Other new features include a rewind mode for videos, which will allow users to play video in reverse, and…

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Twenty-First Century Fox revenue misses as cable, film units drag

May 10, 2017 (Reuters) – Twenty-First Century Fox Inc , the television and film company controlled by Rupert Murdoch, reported quarterly revenue that missed analysts’ estimates, weighed down by flat U.S. ad revenue in its cable business and fewer box-office hits. Shares of the company, which is in midst of a $14.5 billion bid to take control of UK-based pay-TV group Sky Plc , fell nearly 4 percent in extended trading on Wednesday. “We remain confident the proposed transaction will be approved by the end of the calendar year following…

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Fitbit blazes past its revenue forecast, shares rise

May 3, 2017 (Reuters) – Wearable device maker Fitbit Inc reported quarterly revenue above its own forecast, and said launches planned for this year were on track, sending the company’s shares up 7.2 percent in after-market trading on Wednesday. Investors are betting on Fitbit’s new launches to bolster sales, after the company struggled with a lackluster holiday quarter and production issues that weighed on sales. “As we enter the smartwatch category, I think that will be a catalyst for growth,” Chief Executive Officer James Park said on an earnings call….

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Microsoft Surface sales sink, shares dip

April 28, 2017 By Pushkala A and Stephen Nellis (Reuters) – Microsoft Corp slightly missed Wall Street’s average revenue estimate for the latest quarter on Thursday, as sales of its Surface tablets and laptops slumped in the face of revamped competition in the personal computer market. Shares of the world’s largest software company fell 0.6 percent to $67.85 in trading after the bell. Under Chief Executive Satya Nadella, who took the helm in 2014, Microsoft has sharpened its focus on the fast-growing cloud computing unit to counter a prolonged slowdown…

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AT&T revenue misses estimates as customers keep phones longer

April 25, 2017 By Anjali Athavaley (Reuters) – AT&T Inc’s quarterly revenue missed estimates due to lower equipment sales as customers held onto phones longer and rival wireless carriers offered new promotions on unlimited data plans, the No. 2 U.S. wireless carrier said on Tuesday. It said it lost 191,000 postpaid subscribers, who pay bills monthly, in the United States on a net basis in the first quarter ended March 31. AT&T and industry leader Verizon Communications Inc are battling Sprint Corp and T-Mobile US Inc for market share in…

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T-Mobile open to merger talks, new subscribers top estimates

April 24, 2017 By Anjali Athavaley (Reuters) – T-Mobile US Inc is open to merger talks after a federal ban expires this week, the No. 3 U.S. wireless carrier said on Monday, as it reported stronger-than-expected subscriber growth in the first quarter. The U.S. Federal Communications Commission barred merger talks among telecommunications companies for over a year as it conducted a $19.8 billion auction of airwaves from broadcasters for wireless use. Companies taking part in the auction have been restrained by a quiet period that will end on April 27,…

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Verizon reports 20 percent fall in quarterly profit

April 20, 2017 (Reuters) – Verizon Communications Inc , the No. 1 U.S. wireless carrier, reported a 20 percent fall in quarterly profit as it lost wireless postpaid subscribers despite the re-launch of unlimited data plans. Net income attributable to the company fell to $3.45 billion, or $0.84 per share, in the first quarter ended March 31, from $4.31 billion, or $1.06 per share, a year earlier. Verizon said it lost 307,000 retail postpaid subscribers on a net basis in the first quarter. Analysts on average were expecting net additions…

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AT&T adds HBO to unlimited wireless plan for free

April 5, 2017 (Reuters) – AT&T Inc said on Wednesday customers of its unlimited mobile data plan would get Time Warner Inc’s HBO, home to hit shows such as “Game of Thrones” and “Veep”, as part of the service at no additional cost. The No. 2 U.S. wireless carrier, which is buying Time Warner for $85.4 billion to gain control of channels such as HBO and CNN, said the new service would be rolled out from April 6. AT&T’s “Unlimited Plus” plan includes unlimited mobile data and a monthly credit…

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