Users of Apple’s iPhone, iPad and iPod Touch mobile devices might want to take a minute to do a software update this weekend. Apple rolled out a security fix for its iOS mobile operating software on Friday that plugs a hole that could allow hackers to gain remote access to those devices. The security flaw was discovered last week after a website released code that Apple customers can use to modify the software through a process known as “jail breaking”.
Google said more than 10 million people have now signed up to the company’s new social networking service, Google+. The Internet giant’s CEO Larry Page announced the new user numbers during the company’s second-quarter earnings call on Thursday, remarking that it has been “very well received, because in real life we share different things with different people.” That’s a reference to one of the service’s many features, Circles, which lets users sort friends into different groups (‘circles’) and share information based on interests or affiliation. The afterglow following Google’s blockbuster results on Thursday extended into Friday, with the company’s shares surging as much as 13.5 percent at one point.
Google shares soared in after-hours trade as the company’s second-quarter revenue zoomed past Wall Street expectations. The Internet giant’s net revenue, which excludes fees paid to partner websites, jumped 36 percent to $6.92 billion in the second quarter. That’s not all investors had to cheer, though. Growth in a range of businesses from mobile to online video helped the company ring up a strong quarterly profit that also exceeded investor expectations. “Google should be viewed as a growth company again this quarter,” Stifel Nicolaus analyst Jordan Rohan told Reuters. “The combination of mobile search, Android, ad exchange, YouTube, and the core search businesses, they’re all doing well. Google is no longer a one-trick pony.”
The pool of underwriters working on Groupon’s upcoming initial public offering just got a lot bigger. The online daily deals website has added 11 new underwriters, including JPMorgan, Allen & Co, Bank of America Merrill Lynch, Barclays Capital, Citigroup, Deutsche Bank Securities, William Blair & Co, Citadel Securities, Loop Capital Markets, RBC Capital Markets and the Williams Capital Group, according to an updated regulatory filing. They join Morgan Stanley, Goldman Sachs and Credit Suisse, who were the lead underwriters named in the earlier filing.
The investor spotlight will land on Google’s profit margins and newly released social networking service Google+ on Thursday afternoon when the world’s No.1 search company reports its second-quarter financial results.
Rising expenses and a steady stream of acquisitions in recent months have eaten into the company’s margins, but the recent launch of Google+ may help take some of the pressure off the company for its spending and help Wall Street warm to CEO Larry Page, who took over at the helm in April. Check in Thursday at 1:00 p.m. Pacific Time (4:00 p.m. ET) for live coverage of the company’s results and conference call.
Take note, Apple. Amazon.com wants to steal more of your customers. The online retailer plans to release a 9-inch tablet computer this fall that will run on Android software, the Wall Street Journal reported, citing sources familiar with the matter.
The company is building at least 1.5 million Amazon-branded devices for the third quarter and is aiming to ship 4.5 million to 5 million by the end of the year, according to a recent analyst note. The move should help Amazon expand its reach as the world’s largest Internet retailer and increase sales of digital content such as e-books, music and videos, posing more competition for Apple’s iTunes store.
#Netflix pop-up ad just hit my browser. No pricing details at all – just a ‘click here’ message.
Netflix subscribers could see their monthly bill increase starting this fall. The company announced it is doing away with a combo plan that lets customers watch unlimited movies and TV shows online and get DVDs by mail for $9.99 a month. Starting in September, current subscribers who want both services will have to pay $7.99 per month to rent one DVD plus an added $7.99 for unlimited streaming, for a total of $15.98 a month. That’s an increase of 60 percent. The new pricing begins immediately for new customers. Old-fashioned types who just want DVDs now have the option of an unlimited DVD-only plan that costs $7.99 for one at a time or $9.99 for two at a time. Good or bad news, depending on how you use Netflix.
Changes are afoot in Apple’s legal department. The tech giant’s chief patent lawyer Richard “Chip” Lutton Jr. plans to leave the company soon, sources close to the matter told Reuters. So who will Apple tap to oversee the many legal battles it’s fighting against rival smartphone makers around the world? Apple is mum on the matter, but BJ Watrous, a former deputy general counsel with Hewlett-Packard, is now listed as Apple’s chief intellectual property counsel on Watrous’s LinkedIn Web page.