Multi-channel videogame retailer GameStop reported first-quarter mobile sales of $46.8 million, an increase of 290 percent over year-ago totals. The firm's mobile efforts include Kongregate, a free gaming app optimized for Google's Android operating system.
Pandora Media reported first-quarter fiscal 2014 revenues of $125.5 million, a 55 percent year-over-year increase fueled by the continued growth of the streaming music service's mobile advertising efforts. Losses nevertheless widened to $28.6 million from $20.2 million during the year-ago period as content costs jumped 48 percent to $82.9 million.
Millennial Media reported revenues of $49.4 million for the first quarter of 2013, a year-over-year increase of 50.1 percent. Around 18 percent of the company's revenue came from outside the United States.
Electronic Arts reported fiscal fourth quarter revenues of $1.04 billion, up from $977 million in the year-ago period. Revenues from mobile games, online offerings and other digital channels increased 45 percent year-over-year to $618 million.
Tier 2 and Tier 3 operators such as U.S. Cellular ( NYSE:USM ), Shenandoah Telecommunications and Alaska Communications revealed the latest expansions to their LTE footprints during first quarter earnings calls. These small operators are in a rush to expand LTE coverage to keep up with their Tier 1 counterparts.
Glu Mobile said it would cut 12 percent of its workforce, or around 67 employees. The actions will leave the company with around 564 employees. However, Glu said the job cuts are part of an effort to centralize and streamline the production of games, and the company continues to hire new employees in specific functions. As a result, Glu said it expects to end 2013 with 580 employees.
Facebook announced revenue of $1.46 billion in the first quarter, an increase of 38 percent year-over year, meeting analyst expectations. Of that, revenue from advertising was $1.25 billion. The company said that 30 percent of its advertising revenue now comes from mobile, up from 23 percent in the previous quarter.
Restructuring costs and a wait for payments on commercial contracts slammed Alcatel-Lucent's cash flow figure, as the company burned through $694 million in cash during 2013's first quarter, worsening the year-earlier free cash flow loss of nearly $211 million.
Don't look for Apple to roll out mobile payment services anytime soon: The segment is still not ready for primetime, according to comments made Tuesday by the computing giant's CEO Tim Cook.
Despite a 2 percent year-over-year uptick in sales, the impact of restructuring led Ericsson's first-quarter 2013 income to plummet 86 percent from the prior-year period to $181.43 million.