DocuSign's stock (DOCU) fell by about 6% following the news.
DocuSign will incur a $28M–$32M restructuring charge related to the layoffs.
Spotify reports Q4 revenue of \u20ac3.7B (up 16% YoY), 602M MAUs (up 23% YoY), 236M subscribers (up 15% YoY), a \u20ac75M operating loss, and expects 618M MAUs in Q1 2024; company posted its second-largest quarterly gain and has been cutting costs to drive profitability.
Microsoft, Alphabet (Google), Meta and Amazon collectively increased reported profits by about $10 billion over the past two years by extending server useful-life estimates and thereby cutting depreciation expenses.
Amazon's advertising business grew 27% year-over-year in last week's quarterly results, contributing to signs of an ad market turnaround.
Meta's ad sales rose 24% year-over-year in last week's quarterly results, indicating strength in the digital ad market.
Google's advertising business increased 11% year-over-year in last week's quarterly results, supporting an overall ad market upswing.
Some third-party Reddit apps are now profitable.
Synergy reports enterprise spending on cloud infrastructure services was about $74B in Q4 2023, up 20% year-over-year and $5.6B versus Q3 2023—the largest quarter-over-quarter increase on record.
Most current third-party Reddit apps now charge users a monthly subscription fee.
Ben Armstrong lost much of his wealth.