Author: Jamie Welch, Senior Editor

Skype Files for IPO

Skype, the Internet telephony company, is looking to raise up to $100 million in an initial public offering, according to an S-1 filing with the U.S. Securities and Exchange Commission. The company will be selling American Depositary Shares (ADSs) and will trade on the NASDAQ Global Market. The offering will be managed by Goldman, Sachs & Co., J.P. Morgan, Morgan Stanley and others. The offering was widely viewed as in the cards, though I admit it came sooner than I thought. Skype’s decision to go public is a result of the company turning into a cash machine. It currently has 560...

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AOL misses low earnings expectations

Wall Street didn’t have high expectations for AOL’s quarterly earnings–after all, one of the company’s executives exclaimed at a conference last week that “we have a big f-ing problem!”–but the Internet service provider turned media outlet still failed to meet the mark. AOL posted revenues of $584.1 million, a 26 percent decline from the previous quarter, when analysts were expecting about $602 million. In an earnings release, AOL attributed the losses to slimmed-down search and advertising operations internationally, particularly in France and Germany, as well as to costs incurred by some properties which it has since sold off. In...

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