socialmedian: 5 O’Clock Roundup: Verizon both hot and not, Netflix near ubiquity, things built on Twitter

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5 O’Clock Roundup: Verizon both hot and not, Netflix near ubiquity, things built on Twitter

Source: VentureBeat

Oct 27, 2009

Summary

Verizon continues the tech sector’s sweep of earnings reports – America’s second-largest phone company, and new #1 wireless carrier, beat analysts’ expectations for the third quarter. The company reported $27.3 billion in sales, and $1.18 billion in revenue, a gain of nearly 25 percent over last year. A substantial chunk of that came from new acquisition AllTel.

Wall Street’s reaction was — well, actually there wasn’t one. Share prices declined a piddly 21 cents to $28.64.

Verizon, which laid off 4,000 workers in its shriveling land-line business last quarter, said a similar cut was coming in the new quarter, too. The company is focusing on HDTV and fiber-optic FiOS service. While waiting around for Apple’s exclusive contract with AT&T to expire, Verizon is moving forward on selling the BlackBerry Storm2 and Android-based Droid smartphones.

Netflix to offer movies for Sony’s Playstation 3 consoles — Xbox 360 owners (pictured) have been able to play Netflix movies on demand for a year now. Next month, Sony will finally catch up. Netflix currently has 11.1 millio