Millennial Media, Nokia, T-Mobile USA – News briefs
By Chantal Tode
August 10, 2012
News and notes of the day
News briefs - Millennial Media Q2 revenue jumps 76 percent; Nokia sells off app development unit Qt; T-Mobile USA loses 205,000 customers in the second quarter.
Millennial Media Q2 revenue jumps 76 percent
Independent mobile advertising company Millennial Media reported strong second quarter results, with CEO Paul Palmieri citing the company’s singular focus on mobile as the reason why it is succeeding in monetizing mobile while others are not.
For the second quarter, Millennial Media reported a 76 percent year-over-year increase in revenue for a total of $39.4 million. The company also reported a net loss of $2.2 million, compared with a net loss of $4 million in the first quarter.
Additionally, Millennial Media said it reached over 350 million monthly unique users worldwide as of June 30, 2012 – including 140 million unique users in the United States - and that more than 35,000 apps were operating on its platform.
“Mobile is all that we do, and we have differentiated scale in that market,” Mr. Palmieri said in a conference call with analysts to discuss the results. “It is because of the years of this singular focus that we’re succeeding in mobile monetization where others are not.”
Nokia sells off app development unit Qt
Nokia Corp. has agreed to sell its mobile application software development company Qt to Digia.
Nokia made the business decision to focus its business on smartphones using Microsoft’s Windows Phone operating system and, therefore, no longer needs Qt. However, Nokia’s Lumia line of smartphones built on Windows Phone are not being scooped up by as many consumers as the company may have hoped, with the company recently reporting a significant loss for the second quarter.
As a result, Nokia continues to look for ways to cut costs and raise money while it waits for the Windows Phone to catch on, possibly with a boost from the release of Windows Phone 8 in the fall.
Digia is a Finnish software solutions and service company. It expects Qt will help it bring world-class user experience and user interfaces to embedded systems and consumer electronics.
T-Mobile USA loses 205,000 customers in the second quarter
Many customers left T-Mobile USA during the second quarter, with the company reporting net customer losses of 205,000 compared to 50,000 during the same period a year ago.
T-Mobile USA lost 557,000 contract customers in the second quarter, more than it lost in the first quarter of this year and during the same period a year ago. It added 227,000 prepaid customers during the quarter.
The company also continues to struggle to make money, posting service revenues totaling $4.4 billion, which is down from $4.6 billion a year ago and flat compared with the first quarter of this year.
Sales of smartphones increased 31 percent year-over-year to 2.1 million.
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