US Gov't Reaps Billions in Profits Off Backs of Struggling Students
The United States government is reaping billions in profits off the backs of struggling students, according to new figures made public Tuesday by the Congressional Budget Office. According to the 2013 fiscal year forecast, the Department of Education is slated to bring in an estimated $50.6 billion in profit from student loan interest—a jump of 43 percent from an initial estimated of $35.5 billion.
Chartboost Is Building The Next Mobile Ad Network To Watch, And They're Expanding To Europe
Five years ago from their native city of Barcelona, Maria Alegre and her husband Pepe Agell used to watch old Stanford Technology Ventures Program videos from entrepreneurs sharing their founding stories. Intrigued by what they heard, they picked up and moved to the Valley, where Alegre dug into mobile gaming at early developer Tapulous, which went on to be acquired by Disney. Fast forward to today, Alegre is running one of the fastest-growing mobile ad networks in Silicon Valley (one that we’ve heard from three separate sources grossed about $50 million last year). Her company Chartboost is quietly sucking in talent from an older generation of mobile ad networks and gaming studios like Google’s AdMob, DeNA’s Ngmoco and EA’s Popcap. They also picked up $19 million in funding led by storied VC firm Sequoia earlier this year. “It’s kind of crazy. This all happened in four years,” she said. “Anyone can do it. People running these companies are not super humans. They are just ...
Microsoft's Q3 2013 Results Beat Expectations With EPS Of $0.72, Miss On $20.49B In Revenue, CFO Peter Klein Leaving
Microsoft just reported the results for its third financial quarter of 2013. The company’s revenue came in just under expectations at $20.49 billion but it beat expectation with an earnings per share of $0.72. Despite the muted response to Windows 8 and PC sales that continue to disappoint, the analyst consensus was that Microsoft’s revenue would increase 13 percent compared to last year. The expectation was that Microsoft would report $20.56 billion in revenue and EPS of $0.68 this quarter, compared to the $0.60 EPS and $17.41 billion in revenue Microsoft reported in Q3 2012. “The bold bets we made on cloud services are paying off as people increasingly choose Microsoft services including Office 365, Windows Azure, Xbox LIVE, and Skype,” said Steve Ballmer, chief executive officer at Microsoft in the announcement. “While there is still work to do, we are optimistic that the bets we’ve made on Windows devices position us well for the long-term.” Last quarter, which is traditionally ...
Intel's Q1 2013 Meets Revenue Expectations At $12.6B, Misses On EPS At $0.40 As PC Market Slows
Intel’s fiscal Q1 earnings are out today, and the company reported profit and earnings at expectations on revenue with $12.6 billion for the quarter, and below on earnings per share at $0.40, according to Bloomberg’s analyst consensus. Revenue was down from Q1 2012, as were earnings per share, as the chip-making giant continues to weather the storm of a declining PC market. PC sales for the beginning of the year were reportedly steep, according to research firm IDC, with Windows 8 taking blame for the decline. IDC found that overall, sales were down 13.9 percent for PCs, a category which excludes tablets and notebooks with removable keyboards. Even if you count those in, the news still wouldn’t be great for Intel, which continues to struggle with making any real headway in the mobile processor market. The PC group’s revenue alone totaled only $8 billion, down nearly 6 percent year over year. Intel said in a statement from the CFO’s office that the sequential decline in overall ...
British Regulator Investigated Over Low 4G Auction Revenue
judgecorp writes "Ofcom, the British telecom regulator, raised £2.3 billion in the 4G spectrum auction when the government had hoped for £3.5 billion. Now Ofcom's auction is being investigated by the National Audit Office over whether it provided value for money for the British taxpayer. Ironically, the auction resulted in a low price but spread the bandwidth amongst rival firms, and so provided better value than if the auction had created a partial monopoly or (as happened in the 3G auctions in 2000) gouged as much money as possible from the operators leaving them unable to actually build a network."