(Bloomberg) — Vidio, Indonesia’s answer to Netflix Inc., is aiming to double its paid subscribers to 8 million in the next two to three years ahead of plans to go public in a market where streaming still has much room to grow. Most Read from Bloomberg The company, owned by Indonesian media conglomerate PT Elang […]
(Bloomberg) — EBay Inc. declined after giving a weak forecast for the current quarter, reinforcing investor worries that the one-time pioneer continues to lose relevance in a maturing e-commerce market crowded with competitors. Most Read from Bloomberg EBay projected earnings of $1.10 to $1.15 a share on revenue of as much as $2.54 billion in […]
(Reuters) – U.S. shale producer Devon Energy beat first-quarter profit estimates on Wednesday as higher production from Delaware basin helped it offset a decline in natural gas prices. The Oklahoma City-based company also raised its full-year 2024 production outlook by 2% to a range of 655,000 to 675,000 barrels of oil equivalent per day (boepd). […]
(Bloomberg) — Qualcomm Inc., the world’s biggest seller of smartphone processors, gave a solid forecast for the current period, suggesting that handset demand continues to recover. Most Read from Bloomberg Revenue in the three-month period ended in June will be $8.8 billion to $9.6 billion, the company said in a statement Wednesday. Excluding certain items, […]
By Stephen Nellis and Arsheeya Bajwa (Reuters) -Qualcomm on Wednesday forecast quarterly sales and adjusted profit above Wall Street expectations, driven by selling more and pricier chips into Android smartphones with artificial-intelligence features. After a smartphone slump last year, Qualcomm said that China’s Android market – which has become critical to the company – has […]
Apple (AAPL) will report its second quarter earnings after the bell on Thursday, as Wall Street braces for what has the potential to be a sizable drop in iPhone sales out of China. According to Counterpoint Research, iPhone sales fell 19% in the quarter, while rival Huawei continued to regain its footing after the U.S. […]
Tech earnings season is in full swing, and while a handful of notable players still need to report, namely Apple (AAPL) and Nvidia (NVDA), there’s one key throughline running through the announcements so far: It’s taking a lot of money to make money on AI. Amazon (AMZN), Google (GOOG, GOOGL), Meta (META), and Microsoft (MSFT), […]
By Davide Barbuscia and Ross Kerber NEW YORK/BOSTON (Reuters) – A pension fund for New York City employees urged BlackRock’s shareholders to vote against the election of Saudi Aramco’s chief executive as director, citing potential conflicts of interest around the asset manager’s decarbonizing strategy as well as human rights concerns. The world’s top asset manager […]
By David Shepardson WASHINGTON (Reuters) -The Federal Communications Commission is moving to prevent Huawei, ZTE and other foreign companies deemed to pose U.S. national security concerns from certifying wireless equipment, officials told Reuters on Wednesday. The FCC plans to vote this month on a bipartisan proposal to ensure that telecommunications certification bodies and test labs […]
WASHINGTON (Reuters) – The U.S. International Trade Commission said on Wednesday it was launching a trade investigation into claims by GoPro Inc that its camera and camera systems patents were violated by a Chinese company importing similar products into the U.S. In a public notice, the USITC said the probe under Section 337 of the […]
(Bloomberg) — Pinterest Inc. gained the most in more than three years after the company reported first-quarter sales and user growth that surpassed Wall Street’s expectations, bolstered by a push into shopping and a focus on Gen Z users. Most Read from Bloomberg “We have really leaned into creating a more positive environment relative to […]
(Bloomberg) — UnitedHealth Group Inc. Chief Executive Officer Andrew Witty told lawmakers the company is still trying to determine why its computer systems were left vulnerable to hackers who perpetrated a devastating cyberattack. Most Read from Bloomberg Lawmakers zeroed in on the lax defenses during more than two hours of questioning by the Senate Finance […]
