Life

Edwards Lifesciences Corp. Q1 adjusted earnings Beat Estimates

Apple iPad Pro to support latest PlayStation, Xbox game controllers. Orders for new iPad models begin April 30

The new iPad Pro will be compatible with gaming controllers. (Photo: Screenshot)

Apple iPad users are getting more video game perks. 

As part of next week’s update to iPadOS (iPadOS 14.5), the popular tablets will gain support for the latest video game controllers. The news was part of Apple’s “Spring Loaded” event Tuesday.

New iPad Pro models are on the way, too. Starting prices remain the same as the previous generation if iPad Pro devices: the 11-inch model starts at $799, while the 12.9-inch iPad Pro starts at $1,099. Add $200 if you need cellular connections.

Want lots of storage for games and movies? Both models come with 2 Terabytes of storage: the 11-inch model with 2TB starts at $1,899; the 12.9-inch iPad Pro 2TB model at $2,199.

Note: the iPad Pro storage capabilities wrongly rubbed some of those eyeing the new iMac computer, which tops out at 512GB of storage.

New products: Apple unveils multi-color iMacs, new iPad Pro, purple iPhone 12, AirTags at ‘Spring Loaded’ event

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2020 was supposed to be the year of streaming. Instead, it was the year of Netflix

New York (CNN Business)Netflix had a huge first quarter last year thanks to the pandemic keeping people inside. Now with vaccinations ramping up, Netflix (NFLX) kicked off 2021 with a big subscriber miss.

The streaming service reported Tuesday it now has 208 million subscribers globally, after adding 4 million subscribers in the first quarter of 2021, but missing its own expectations of 210 million.
Netflix’s first quarter profit in 2021 was $1.7 billion, up from $709 million in the year-earlier quarter. Its revenue jumped 24%, to $7.1 billion.

    The company’s earnings were good, but all eyes were on the big subscriber miss for the company as well as a weak forecast for subscriber growth for the next quarter.

      The company’s stock dropped as much as 10% in after-hours trading following the company’s earnings.

      This is a developing story.

      Netflix’s Dominance Starts to Slow as Rivals Gain

      The streaming service reported the addition of four million new customers for the first quarter, below the six million it had forecast.


      By Edmund Lee

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      Hero MotoCorp to temporarily shut down manufacturing operations due to rising cases

      Amid a record number of new COVID-19 cases in the country, India’s largest two-wheeler maker Hero MotoCorp on Tuesday announced temporary suspension of manufacturing operations as a precautionary measure.

      “In keeping with its commitment to the safety and welfare of its people, Hero MotoCorp has decided to proactively halt operations temporarily at all of its manufacturing facilities across the country, including its Global Parts Center (GPC), in view of the ongoing escalation in the spread of COVID-19 across the country,” the company said in a statement.

      All plants will resume normal operations post this short period of closure.

      Each plant and GPC will remain shut for four days, in a staggered manner between April 22 and May 1 basis the local scenario, the company said.

      The two-wheeler major added that it would utilise these shutdown days to carry out necessary maintenance work in the manufacturing plants.

      The shutdown will not impact the company’s ability to meet the demand, which has been impacted due to localised shut-downs in many States and production loss will be compensated for during the remainder of the quarter, it said.

      All corporate offices of the company were already in Work-from-Home (WFH) mode and a very limited number of employees were working from offices on a rotation basis for continuity of essential services, it said.

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      British Columbia projects C$9.7 bln deficit in 2021-22

      VANCOUVER, April 20 (Reuters) – The Canadian province of British Columbia expects its 2021-22 budget deficit to reach C$9.7 billion ($7.69 billion), after closing the last financial year with a projected deficit of C$8.1 billion, budget documents released on Tuesday showed.

      The projected deficit for 2020-21 is lower than the previous estimate of C$13.6 billion, the documents showed.

      The budget proposes C$67.6 billion in overall spending in the current financial year, including C$3.3 billion in pandemic recovery measures, and assumes a real GDP growth of 4.4%, the documents showed.

      Edwards Lifesciences Corp. Q1 adjusted earnings Beat Estimates

      Edwards Lifesciences Corp. (EW) reported earnings for its first quarter that rose from last year.

      The company’s bottom line totaled $338.2 million, or $0.54 per share. This compares with $310.6 million, or $0.49 per share, in last year’s first quarter.

      Excluding items, Edwards Lifesciences Corp. reported adjusted earnings of $340.4 million or $0.54 per share for the period.

      Analysts had expected the company to earn $0.47 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

      The company’s revenue for the quarter rose 8.0% to $1.22 billion from $1.13 billion last year.

      Edwards Lifesciences Corp. earnings at a glance:

      -Earnings (Q1): $340.4 Mln. vs. $320.4 Mln. last year.
      -EPS (Q1): $0.54 vs. $0.50 last year.
      -Analysts Estimate: $0.47
      -Revenue (Q1): $1.22 Bln vs. $1.13 Bln last year.

      -Guidance:
      Next quarter EPS guidance: $0.54 – $0.60
      Full year EPS guidance: $2.07 to $2.27