Sector Update: Technology Shares Mixed Pre-Market; NII Holdings Down 20% on Q4 Loss


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Technology shares were generally mixed in pre-market trade Friday.

In technology stocks news, NII Holdings ( NIHD ), a mobile phone service company, plunged more than 20% after it said its Q4 net loss from continuing operations widened to $4.33 per diluted share from $3.45 a year ago as it lost subscribers, particularly in Mexico.

Operating revenue fell to $1.08 billion from $1.38 billion a year ago, roughly in line with analysts' estimates for $1.1 billion.

For Q4 the company reported a net loss of 247,000 subscribers, with a drop of 390,000 in Mexico.

And, Internet protocol-based communications-services provider BroadSoft ( BSFT ) was down about 3% after it reported Q4 results above analysts' expectations but forecast adjusted earnings per share for Q1 and 2014 well below Street estimates.

Q4 net income fell to $512,000, or $0.02 per share, from $4.9 million, or $0.17 per share. Excluding one-time items, the company earned $0.47 per share in the latest period, down from $0.48 per share a year earlier but above analysts' mean estimate of $0.42 per share, according to Capital IQ.

Finally, autoNavi Holdings ( AMAP ) was about 2% weaker in pre-market trading after the company reported mixed financial results for Q4.

The company, which provides digital map content and navigation and location-based solutions in China, reported Q4 non-GAAP net loss per ADS attributable to AMAP shareholders of $0.41, which excludes share-based compensation expenses, compared with $0.22 in the year-ago period. Analysts polled by Capital IQ were expecting a $0.10 loss per ADS.

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This article appears in: Investing , Commodities
More Headlines for: NIHD , BSFT , AMAP

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