Amazon forecast second-quarter revenue below Wall Street expectations on Tuesday, as it expects tepid spending from cost-conscious businesses on its cloud-computing services. Amazon’s first-quarter sales of $143.3 billion, a 13% gain, were higher than the $142.5 billion average according to LSEG data. Amazon shares rose as much as 6% in after-hours trading, after closing down 3.3% in … Read more
Alphabet announced its first-ever dividend on Thursday and a $70 billion stock buyback, cheering investors who sent the stock surging nearly 16% after the bell. The Google parent is returning capital while spending billions of dollars on data centers to catch up with rivals on generative artificial intelligence. The dividend will be 20 cents per share. Just three … Read more
Microsoft beat Wall Street estimates for third-quarter revenue on Thursday, driven by gains from AI adoption across its cloud services and business software products. Revenue rose 17% to $61.9 billion in the quarter ended March, compared with analysts’ consensus estimate of $60.80 billion, according to LSEG data. Shares of the Redmond, Wash.-based company gained 5% after the bell. … Read more
ByteDance’s profit surged roughly 60 per cent in 2023, outpacing the growth of online peers Tencent Holdings and Alibaba Group Holding, in a sign of the TikTok owner’s resilience in the face of an economic downturn. Earnings before interest, tax, depreciation and amortisation jumped to more than US$40 billion from about US$25 billion in 2022, … Read more
This week, TikTok Content Creator Melissa Weaver sparked a debate amongst her followers about whether women wearing makeup should impact the outcome of an interview. Weaver, who said that she used to work in recruitment, told her followers that she received a rejection letter after she had attended a job interview for a directorial position … Read more
Tupperware Brands warned that the 77-year-old company may not survive for another year and forecast inadequate liquidity to fund operations, the seller of plastic airtight food storage containers said in a filing with the SEC on Friday. Tupperware first raised substantial doubt about its ability to continue as going concern nearly a year back. Since then, it appointed consumer goods industry veteran Laurie … Read more
Nike warned on Thursday that its revenue in the first half of fiscal 2025 would shrink by a low single-digit percentage as the world’s largest sportswear maker scales back on franchises to save costs. Nike’s warning came after the stock market closed, and shares were down 5.6% in extended trading. Executives acknowledged that Nike’s direct-to-consumer strategy was not driving growth as expected … Read more
Warner Bros. Discovery on Friday reported worse-than-expected quarterly earnings — due in large part to box office flops from its movie studio — sending the media giant’s shares plummeting more than 9% in midday trading. The David Zaslav-run company — which along with Warner Bros. studios, owns CNN, TNT and streaming service Max — reeled … Read more
A typo in Lyft’s earnings report overstated a key profit metric by a factor of 10 — sparking a 67% spike in its stock late Tuesday before management corrected the error and sent the shares tumbling. Late Tuesday after the close of regular trading, the ride-hailing app told investors in an investor slideshow that its … Read more
Disney CEO Bob Iger is making big bets on Taylor Swift, “Fortnite,” and football — investments he claims will fuel “significant growth” as the Mouse House scrambles to recover from years of lackluster results. Iger on Wednesday made a series of sweeping announcements after Disney reported lower-than-anticipated quarterly revenue of $23.5 billion in an attempt … Read more
