In today’s Bulldog wrapup of technology news:

  • Facebook beats Street 3Q forecasts
  • Broadcom buying Brocade Communications in $5.5B deal
  • Time Warner 3Q results top Street; raises outlook
  • Alibaba posts strong results as shopping, cloud units grow
  • Tesla says SolarCity could provide $1b in revenue next year

The details:

  • Facebook beats Street 3Q forecasts

Facebook Inc. on Wednesday reported third-quarter earnings of $2.37 billion.

The social media company said it had profit of 82 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.09 per share.

The results exceeded Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.

The social media company posted revenue of $7.01 billion in the period, also surpassing market forecasts.

  • Broadcom buying Brocade Communications in $5.5B deal

Chipmaker Broadcom is buying Brocade in a deal valued at approximately $5.5 billion.

Brocade shareholders will receive $12.75 per share, a 13 percent premium to the Tuesday closing prices of the computer networking company. The deal also includes $400 million in debt.

Broadcom Ltd. plans to sell Brocade’s IP Networking business, which includes wireless and campus networking, data center switching and routing and software networking solutions. Brocade CEO Lloyd Carney said the company will work with Broadcom to try to find a buyer for the IP Networking busines

  • Time Warner 3Q results top Street; raises outlook

Time Warner’s third-quarter performance beat analysts’ estimates, thanks partly to revenue growth spurred by the success of films such as “Suicide Squad” and “Sully.”

The media company — which is in the midst of a proposed $85 billion tie-up with AT&T — also boosted its full-year adjusted profit forecast again.

For the three months ended Sept. 30, Time Warner earned $1.47 billion, or $1.86 per share. That compares with $1.04 billion, or $1.26 per share, a year earlier. Stripping out certain items, earnings were $1.83 per share.

  • Alibaba posts strong results as shopping, cloud units grow

Chinese e-commerce company Alibaba reported better-than-expected third-quarter results, as revenue soared at its shopping sites, cloud computing unit and its video streaming services.

The company reported net income of $1.14 billion, or 45 cents per share, the quarter that ended Sept. 30. Earnings, adjusted for non-recurring costs and stock option expense, came to 79 cents per share, beating the 70 cents per share that analysts expected, according to Zacks Investment Research.

  • Tesla says SolarCity could provide $1b in revenue next year

Tesla says solar panel maker SolarCity Corp. could add $1 billion in revenue next year if the two companies merge.
Tesla says the two companies also could cut $150 million in costs in the first year of a merger by jointly marketing Tesla’s electric vehicles and power storage batteries with SolarCity’s solar panels.

The automaker, based in Palo Alto, California, released financial details of the proposed merger Tuesday.
Tesla CEO Elon Musk, who is chairman of both companies, wants to combine them in an all-stock deal worth around $2.45 billion. Shareholders of both companies are expected to vote on the deal on Nov. 17.

The merger is controversial. Neither company has achieved sustained profitability, and both are operating in markets where demand is uncertain.

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