As part of its Q1 2024 earning release, Snap revealed that total watch time on its TikTok competitor, Spotlight, increased more than 125% year-over-year. Snapchat launched the TikTok-like feed in late 2020 as a way to compete with the rising popularity of TikTok. The company is touting the success of its short-from video feed a […]
(Bloomberg) — Atlassian Corp. Co-CEO Scott Farquhar is stepping down from the Australian software company he co-founded over two decades ago, a surprise move that rattled investors. Most Read from Bloomberg Farquhar’s counterpart, Mike Cannon-Brookes, will become the sole CEO, the company said Thursday in a statement. The departing executive will step down Aug. 31 […]
(Bloomberg) — Snap Inc. gained in extended trading after projecting that revenue in the current quarter will jump as much as 18%, beating analysts’ estimates and offering a sign that the overhaul to its advertising business has taken hold with marketers. Most Read from Bloomberg Sales will be $1.23 billion to $1.26 billion in the […]
Microsoft (MSFT) reported its fiscal third quarter earnings Thursday, beating analysts’ estimates on the top and bottom lines on the strength of its cloud computing business. “Microsoft Copilot and Copilot stack are orchestrating a new era of AI transformation, driving better business outcomes across every role and industry,” Microsoft CEO Satya Nadella said in a […]
By Sheila Dang (Reuters) -Snap beat Wall Street’s expectations for quarterly revenue and user growth on Thursday, as improvements to its advertising system delivered results faster than anticipated. Shares of Snap spiked 25% to $14.32 in after-market trading. The owner of photo messaging app Snapchat has been working over the past year to improve how […]
By Harshita Mary Varghese (Reuters) -T-Mobile US raised its annual forecast for growth in monthly bill-paying phone subscribers on Thursday, as more people take to its plans that bundle high-speed internet with access to streaming services. The U.S. telecom carrier’s offerings such as Go5G Next and Go5G Plus provide subscriptions for services such as Netflix […]
Intel (INTC) announced its first quarter earnings results after the bell on Thursday, beating analysts’ expectations on the top and bottom lines. But the company’s Q2 outlook fell short of Wall Street’s estimates, sending the stock sliding. Intel said it anticipates Q2 revenue of between $12.5 billion and $13.5 billion. Analysts were anticipating $13.63 billion […]
By Max A. Cherney and Arsheeya Bajwa (Reuters) -Intel forecast second-quarter revenue and profit below market estimates on Thursday, sending its shares tumbling roughly 8% as it faces weak demand for its traditional data center and PC chips and trails in the surging market for AI components. Businesses have prioritized spending on advanced and speedy […]
By Yuvraj Malik, Anna Tong and Stephen Nellis (Reuters) -Microsoft beat Wall Street estimates for third-quarter revenue and profit on Thursday, driven by gains from adoption of artificial intelligence across its cloud services, and the company’s shares jumped more than 4% in extended trade. Executives forecast ranges for current quarter cloud revenue that were mostly […]
(Bloomberg) — Elon Musk has stepped up his court fight with OpenAI by demanding documents from ex-board member Helen Toner, who was a key player in the short-lived ousting of OpenAI Chief Executive Officer Sam Altman last year. Most Read from Bloomberg Musk, one of OpenAI’s earliest investors, asked Toner to hand over documents and […]
(Bloomberg) — The US plans to award Micron Technology Inc. $6.1 billion in grants and as much as $7.5 billion in loans to help the memory-chip maker build new American factories, rounding out a slew of major federal awards for advanced semiconductor manufacturing. Most Read from Bloomberg Micron has pledged to invest about $125 billion […]
Social media platform TikTok says that a bill banning the app in the U.S. is “unconstitutional” and that it will fight this latest attempt to restrict its use in court. The bill in question, which President Joe Biden signed Wednesday, gives Chinese parent company ByteDance nine months to divest TikTok or face a ban on […]
