Elon Musk is stepping back from DOGE in May, spending 1-2 days per week on government work, as tariffs, customer anger, and Chinese competition weigh on Tesla
Billionaire's foray into government coincided with increased competition from Chinese rivals — In the days following Donald …
Netflix reports Q3 revenue up 15% YoY to $9.83B, vs. $9.76B est., paid memberships up 14% to 282.72M, vs. 282.15M est., and net income of $2.4B; NFLX jumps 7%+
LOS ANGELES — Netflix reported earnings after the bell. Here are the results. — Earnings per share: $5.40.
Amazon reaches a $2T market valuation for the first time; its shares have whipsawed since the company's Q1 2024 earnings and have gained 29% so far in 2024
Carmen Reinicke / Bloomberg :
As Nvidia passes Microsoft's market cap, John Chambers, who was Cisco's CEO when Cisco passed Microsoft in the dot-com boom, says the situation now is different
Chip maker passes Microsoft for top spot, just as John Chambers-led Cisco Systems did two decades ago. He says the situation now is different.
As Nvidia passes Microsoft's market cap, John Chambers, who was Cisco's CEO when Cisco passed Microsoft in the dot-com boom, says the situation now is different
Chip maker passes Microsoft for top spot, just as John Chambers-led Cisco Systems did two decades ago. He says the situation now is different.
Apple was up ~50% in 2023 but underperformed its tech peers after Apple suffered four straight quarters of declining revenue, its longest such slide since 2001
After a 33% plunge in 2022, the Nasdaq finished 2023 up 43%, its best year since 2020, led by Nvidia, which soared 239%, and Meta, which jumped almost 200%
up almost 200% in 2023 Zuckerberg's “year of efficiency” delivered [image] LinkedIn: Emil Protalinski : Tech stocks in 2023, sorted by market cap
Apple stock jumped 54% in 2023 but underperformed tech peers after Apple suffered four straight quarters of declining revenue, its longest such slide since 2001
- In 2023, Apple suffered its longest revenue slide in 22 years, reporting four straight quarters of declining sales.
Meta reports Q2 revenue up 11% YoY to $32B, net income up 16% YoY to $7.79B, and family daily active people up 7% YoY to 3.07B for June 2023; META jumps 10%+
but most of the new users came from outside the US and Canada Karissa Bell / Engadget : Meta had its best quarter since 2021 despite losing more money on the metaverse Abubakar Idr...
Meta forecasts 20% revenue growth in Q3, returning to pre-pandemic and pre-ATT levels, potentially creating cover for expensive AI and metaverse investments
- Meta's current quarter sales projection beats estimates — Company continues to increase spending on metaverse, AI
Signature's and SVB's collapse was aided by GOP-led Dodd-Frank reforms that raised the “stress test” threshold from $50B to $250B, pushed for by SVB executives
Officials with Signature and Silicon Valley banks, which regulators seized in recent days, called for looser financial requirements for midsize banks.
The US Treasury, Federal Reserve, and the FDIC say all Silicon Valley Bank depositors will be “fully” protected, and their money will be available on March 13
Sources: Genesis Global has $2.8B in outstanding loans, including ~30% of its lending made to related parties like its parent company DCG
Bloomberg :
Apple reports record Q3 revenue of $83B, up 2% YoY, vs $82.8B est., net income down 11% to $19.4B, iPhone revenue up 3% to $40.7B, Mac revenue down 10% to $7.4B
people coming from Android - saw double-digit growth) Joanna Stern / @joannastern : “We didn't have enough product to test the demand,” Cook says of impact of inflation and other m...
Apple reports record Q3 revenue of $83B, up 2% YoY, vs $82.8B est., net income down 11% to $19.4B, iPhone revenue up 3% to $40.7B, Mac revenue down 10% to $7.4B
iPhone and Services drive June quarter record revenue — Active installed base of devices reaches all-time high for all major product categories
Amazon reports Q2 revenue up 7% YoY to $121.2B, $2B net loss vs. $7.8B net income in Q2 2021, and AWS revenue up 33% YoY; stock jumps 12%+
SEATTLE—(BUSINESS WIRE)—Amazon.com, Inc. (NASDAQ: AMZN) today announced financial results for its second quarter ended June 30, 2022.
Snap Q3: $1.07B revenue, up 57% YoY, vs. $1.10B est., DAUs up 23% to 306M, net loss down 64% to $72M, blames iOS ATT changes for revenue miss; stock down 20%+
oh vey “We expect that the measurement and optimization foundations of the digital advertising economy will continue to experience significant changes in the months ahead, includin...
Snap Q3: $1.07B revenue, up 57% YoY, vs. $1.10B est., DAUs up 23% to 306M, net loss down 64% to $72M, blames iOS ATT changes for revenue miss; stock down 20%+
- Snap reported its third-quarter earnings on Thursday, missing revenue expectations after Apple's iPhone privacy changes disrupted its advertising business. Source: Snap .
Netflix reports Q1 revenue of $7.16B, up 24% YoY, and 208M paid memberships, up 14% YoY but below its forecast of 210M; stock down 8%+
Netflix - Investors :
Snap says its TikTok competitor Spotlight had 100M MAUs in January, two months after its launch, and receives an average of 175K video submissions per day
A surprisingly successful debut — Snap says its TikTok competitor, Spotlight, had 100 million users in January 2021, just two months after it launched.