Here Comes May With The Flowers
In Spanish, this funny sentence means “here comes what we all knew was coming”. May is not going to come with blizzards, thunder storms or gail. It comes with flowers.
And so it came what a couple of weeks ago lifted the dust from the floor at Mobile 2.0 Barcelona.
Vodafone announces second quarter results, plummeting a 13.6% in the stock markets. And of course it points the accusatory finger towards Telefonica – why sinking in the mud has to be a solitary excursion into Hell? Let’s drag everyone down with us. And let’s also do a Michael Jackson and “Blame It On The Boogie”, so Vodafone’s CFO goes public blaming its disaster on the Spanish real estate bubble. The financial press cannot make sense of the latter, when there are other indicators that clearly explain Vodafone’s demise. What happened there? Are CFOs choosing a style of justifying results with the nearest scapegoat in hand? So what happend at the close of markets? Telefonica, which has more diversified revenues and some of them performing strongly, thank-you-very-much, sees its stock fell 5.56% amidst the bonanza, the third biggest fall of the year. Thanks, Vodamate!
In the meantime, back at the other side of the technology ranch, Ericsson sees its telecommunication revenues fall by 70%. from €677m to €201m
At the same time, in a galaxy that was far, far away but lately in everyone’s pocket, Apple announces record results, closing its third quarter with revenues of €675m, about 30.8% up over the previous quarter.
Puzzled? Confused? or ready for the biggest shake up in years of the mobile industry?