Microsoft Readies New Xbox: Tech Winners & Losers
NEW YORK (TheStreet) -- Microsoft
The company sent out press invites to its Redmond, Wash., Xbox campus for "a special unveiling." Company spokesman Larry "Major Nelson" Hryb posted on his blog that Microsoft would be announcing something big at the event.
"On Tuesday May 21st, we'll mark the beginning of a new generation of games, TV and entertainment," Hryb wrote on the blog.
Recent rumors have suggested that the new Xbox could be online-only, requiring an always-on status to play games.
Speaking to sources familiar with the project, Businessweek has learned that Amazon is going to announce the device this fall, allowing users to stream video over the Internet, putting Amazon's video library in front of them.
It's not yet known whether Amazon will allow competitors such as Netflix
Cupertino, Calif.-based Apple reported second-quarter results that met analyst expectations, earning $10.09 per share on $43.6 billion in revenue as iPad sales rose 65% year over year to 19.5 million units per year. Analysts polled by Thomson Reuters expected the tech giant to earn $10.01 per share on $42.31 billion in revenue.
For the fiscal third quarter, Apple expects revenue will be between $33.5 billion and $35.5 billion, with gross margins between 36% and 37%. Analysts were expecting $38.2 billion in sales for the third quarter.
In conjunction with the earnings beat, Apple raised its buyback program and dividend sharply, announcing it would return $100 billion to shareholders over the next three years, adding $50 billion to its repurchase program, the largest for any company in history.