Tech 2.0 for Thursday, July 25, 2013
Amazon.com is reporting a loss in the second quarter as higher revenue was not enough to make up for rising operating expenses. Amazon.com Inc. said Thursday that its loss was $7 million, or 2 cents per share, in the April-June quarter. That's down from earnings of $7 million, or 2 cents per share, a year ago. Revenue rose 22 percent to $15.7 billion from $12.83 billion. Analysts, on average, were expecting earnings of 5 cents per share on revenue of $15.73 billion. Amazon is forecasting revenue of $15.45 billion to $17.15 billion for the current quarter. Analysts were expecting $16.97 billion. Amazon's stock fell 3 percent to $294.26 in extended trading after the results were released.
Facebook is raking in billions of dollars as users continue to log on. Facebook shares rose 19-percent, Wednesday, after reporting $1.8 billion in second-quarter revenue. Net income rose to $333-million -- up about half-a-billion from a net loss for the second quarter of 2012. In after-hours trading, Facebook's stock reached its highest point since January. But the company's stock has never returned to the price of Facebook's initial public offering. For Facebook's IPO in May 2012, the stock started at $38 per share. On Wednesday, the price was $30 per share. Meanwhile, active users are up 21-percent year-over-year, increasing to nearly 1.2 billion.
There's something new from Google allowing people to stream Internet videos onto their TV's. The company has introduced "Chromecast", a USB stick that pushes web video to your TV over a Wi-Fi network. The small device costs $35 and is available immediately and works using your computer, phone or tablet as a remote control. Google says "Chromecast" is designed to create a device with zero set-up time and works with all devices and platforms. The company says only 15-percent of households have figured out how to watch online video on their TV's and "Chromecast" is an attempt to increase that. A purchase of "Chromecast" includes three months of free Netflix streaming.
Maps are where it's at. Just ask Google, which bought maps app Waze for more than $1 billion, or Apple, which snapped up two small mapping startups earlier this month. Enter Citymaps, which bills itself as a social map that helps people discover new places rather than simply get directions to a destination. The New York-based startup launched a new, expanded version of its navigation app on Thursday that includes all U.S. cities and 15 million businesses. An earlier version included just a handful of test markets, including New York. The free app is currently available for the iPhone. An Android version is in the works. Citymaps lets people customize maps so that no two look alike. Users can create and share their own maps, such as "best coffee shops."