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Google CFO Warns of Slowing Growth; Sparks Sell-Off

Authored by Mark Hefflinger on February 28, 2006 - 9:50am.
Mountain View, Calif. - Shares of Google closed down more than 7% on Tuesday after the Internet search giant's CFO warned an investor conference that the company's growth is slowing. George Reyes said that Google will need to begin finding new ways to boost its revenue, triggering a sharp sell-off of the stock, which at one point was down 10%. "Growth is slowing and now largely organic. The search monetization gains have now largely been realized," Reyes told attendees of a Merrill Lynch conference in New York. "I'm not turning bearish at all. I think we've got a lot of growth a head of us," he said. "It's a question of what rate."
tags: Google | Website | CFO | Spark | Slowing Growth | Sell-Off | Warns |

RealNetworks Doubles Music Subscribers, Names New CFO

Authored by Mark Hefflinger on February 15, 2006 - 9:47am.
Seattle - RealNetworks, a provider of media delivery technology and subscription services, announced on Wednesday that it counted 1.4 million subscribers for its digital music services at the end of 2005, double the 700,000 it claimed a year earlier. The company's music revenue was $26.1 million in the fourth quarter, up 29% from a year ago, while games revenue was $15.7 million, an increase of 52%. The company also said it has named Michael Eggers as its new chief financial officer. Eggers, who joined RealNetworks in 1997 from KPMG, replaces Roy Goodman, who will remain with the company assisting with treasury, investor relations and other finance functions.
tags: Music | RealNetworks | CFO | Subscriber | New |

Vivendi Planning to Offload $21 Billion in Assets, CFO Says

Authored by Mark Hefflinger on November 24, 2003 - 7:07am.
Barcelona -- French media and entertainment conglomerate Vivendi Universal plans to offload nearly $21 billion in assets over the next two years, according to CFO Jacques Espinasse. Speaking in Barcelona, Espinasse said that Vivendi planned to pay a dividend by as early as 2005 and that the company hoped to make as much money from its media assets as from its telecoms. He also confirmed that the ongoing deal to sell Vivendi's entertainment assets to General Electric is going smoothly.
tags: Vivendi | CFO | Offload | Assets |

SEC Ends Nvidia Accounting Probe, Files Fraud Charges Against Former CFO

Authored by Mark Hefflinger on September 12, 2003 - 7:03am.
Santa Clara, Calif. -- Nvidia, a developer of graphics and communications chips popular in PC gaming applications, announced on Friday that the Securities and Exchange Commission (SEC) has concluded its investigation into the company's accounting practices. While neither admitting nor denying any wrongdoing or receiving any penalties or fines, Santa Clara, Calif.-based Nvidia agreed to an administrative cease and desist order prohibiting any future violations of certain federal securities laws. Separately, the SEC announced that it has brought financial reporting fraud charges against former Nvidia chief financial officer Christine Hoberg, related to the accounting investigation. Nvidia announced in April 2002 that as a result of the SEC probe, the company would restate financial statements for fiscal 2000, 2001 and the first three quarters of fiscal 2002. http://biz.yahoo.com/prnews/030911/sfth046_1.html  http://biz.yahoo.com/rb/030911/tech_nvidia_1.html
tags: NVIDIA | SEC | CFO | Fraud Charges |