Skyworks forecasts third-quarter revenue below estimates
(Reuters) - Apple supplier Skyworks Solutions forecast third-quarter revenue below Wall Street estimates on Tuesday on demand concerns, as clients struggle to offload excess inventory, sending its shares down 6% in extended trading. The chip com...
8h ago
Amazon forecasts quarterly revenue below estimates
By Yuvraj Malik and Greg Bensinger (Reuters) -Amazon.com forecast second-quarter revenue below Wall Street expectations on Tuesday, as it expects tepid spending from cost-conscious businesses on its cloud-computing services. First-quarter sales increas...
8h ago
Pinterest forecasts quarterly revenue above estimates on robust ad spend
(Reuters) - Pinterest forecast second-quarter revenue above Wall Street estimates on Tuesday, expecting a boost from growing advertising spend on the image-sharing platform. The company has benefited from marketers turning to the digital platform t...
8h ago
Super Micro misses quarterly revenue estimates on stiff competition, shares fall
(Reuters) -Super Micro Computer reported third-quarter revenue below estimates on Tuesday, hurt by stiff competition in the server-making industry, however it forecast fourth-quarter revenue above estimates as it expects steady demand for its AI server...
8h ago
Chipmaker AMD narrowly beats first-quarter revenue estimates
(Reuters) -Advanced Micro Devices beat first-quarter revenue estimates by a small margin on Tuesday as tepid demand for semiconductors used in traditional data centers added to weakness in the market for gaming chips. Shares of the Santa Clara, Califor...
8h ago
IBM wins reversal of $1.6 billion judgment to BMC over software contract
(Reuters) - A federal appeals court on Tuesday overturned a judgment requiring IBM to pay rival BMC Software $1.6 billion, after a judge found IBM improperly replaced BMC's mainframe software at AT&T with its own. The 5th U.S. Circuit Court of Appe...
8h ago
Trump raises stake in his media firm to nearly 65%
(Reuters) - Donald Trump has raised his stake in the company that operates his social media app Truth Social to nearly 65% as of last week, according to a filing on Tuesday. The former U.S. president and Republican presidential candidate secured 36...
8h ago
Almost all US hospitals took financial hit from Change hack, AHA says
By Amina Niasse NEW YORK (Reuters) - Almost all U.S. hospitals were hurt financially by the cyberattack on United Health Group's Change Healthcare unit earlier this year, according to a survey from the American Hospital Association (AHA). The AHA s...
8h ago
Data centers will likely provide boost to nuclear energy, says Cameco CEO
By Mrinalika Roy (Reuters) - Uranium miner Cameco Corp's chief executive said on Tuesday projected demand from data centers powering technology like generative AI will likely be a boost for nuclear energy. Over the past year, big technology compani...
11h ago
US newspapers sue OpenAI for copyright infringement over AI training
By Blake Brittain (Reuters) - A group of newspapers, including the New York Daily News and Chicago Tribune, sued Microsoft and OpenAI in New York federal court on Tuesday, accusing them of misusing reporters' work to train their generative artifici...
12h ago
Ex-Google workers say firings for protesting Israel contract were illegal
By Daniel Wiessner (Reuters) - A group of workers at Alphabet Inc's Google have filed a complaint with a U.S. labor board claiming the tech company unlawfully fired them for protesting its cloud contract with the Israeli government. The complaint w...
12h ago
South African cryptocurrency exchange VALR targets global expansion
By Nqobile Dludla JOHANNESBURG (Reuters) - South Africa's largest cryptocurrency exchange VALR has secured a licence in Poland and eyeing other jurisdictions across the globe, in hopes to take on some of world's crypto giants, its CEO told Reuters....
16h ago
France must curb child, teen use of smartphones, social media, says panel
By Tassilo Hummel PARIS (Reuters) - France should limit smartphone and social media use for children and teenagers, an expert panel commissioned by French President Emmanuel Macron said on Tuesday, amid growing global concern about their negative i...
16h ago
Island hits $3 billion in valuation after latest fund raise
(Reuters) - Enterprise software and security provider Island said on Tuesday it had raised fresh capital in a late-stage funding round that doubled its valuation to $3 billion in six months. The company raised $175 million in a Series D round, led ...
17h ago
Logitech targets faster growth via education, health and AI
By John Revill LAUSANNE, Switzerland(Reuters) - Logitech International is targeting faster growth in future by expanding its customer base into areas like education and healthcare as well as doing more with artificial intelligence, Chief Executive ...
17h ago
Corning forecasts second-quarter core sales above estimates on steady carrier spending
(Reuters) - Specialty glass maker Corning forecast second-quarter core sales above Wall Street expectations on Tuesday, banking on price increases and healthy demand for its fiber optic cables amid recovery in spending from telecom clients. Shares ...
17h ago
Google to pay up to $6 million to News Corp for new AI-content, The Information reports
(Reuters) - Alphabet's Google has agreed to pay News Corp, the owner of Wall Street Journal, between $5 million and $6 million annually to develop new AI-related content, the Information reported on Tuesday. (Reporting by Harshita Mary Varghese; E...
17h ago
Zebra Technologies first-quarter results beat estimates
(Reuters) - Barcode scanner maker Zebra Technologies beat first-quarter revenue and profit estimates on Tuesday and forecast a smaller-than-expected decline in second-quarter sales on the back of stabilizing demand for its products. The company, wh...
18h ago
American Tower Corp raises annual revenue forecast on healthy telecom spending
(Reuters) - American Tower raised its forecast for annual property revenue on Tuesday as the real estate investment trust benefits from healthy telecom and wireless carrier spending. Telecom companies have continued to increase spending on 5G servi...
18h ago
SiriusXM beats quarterly revenue estimates on advertising demand
(Reuters) - Satellite-radio company SiriusXM beat analysts' expectations for quarterly revenue on Tuesday, helped by demand for its advertising services and lower-priced offerings. SiriusXM has stepped up efforts toward bolstering its content line-...
18h ago
PayPal lifts 2024 profit forecast as spending stays resilient, margins improve
(Reuters) - PayPal raised its full-year adjusted profit forecast on Tuesday, as the payments giant benefited from robust consumer spending, while measures to cut costs improved operating margins in the first quarter. Consumer spending has shown rem...
18h ago
Logitech CEO aiming to double target market for peripherals
LAUSANNE, Switzerland (Reuters) - Logitech International wants to increase sales in future by making more products for people who work outside offices as well as gamers who play on consoles and mobile phones, Chief Executive Hanneke Faber said on T...
18h ago
Meta defends its risk mitigating process amid EU probe
BRUSSELS (Reuters) - Meta on Tuesday defended its risk mitigating process after the European Commission launched an investigation into its Facebook and Instagram for failing to tackle deceptive advertising and disinformation ahead of European Parli...
19h ago
Huawei Technologies' first-quarter net profit surges 564% y/y
BEIJING (Reuters) - Huawei Technologies posted a first-quarter net profit of 19.65 billion yuan ($2.71 billion) on revenue of 178.45 billion, a filing showed on Tuesday. Its net profit surged by 564% while revenue advanced 36.7%, based on calculati...
19h ago
Gartner raises annual profit forecast on steady demand for IT services
(Reuters) - Information technology consultant Gartner beat first-quarter profit and raised its annual earnings forecast on Tuesday, as it expects to benefit from steady demand for its research and consulting services. The company, a dominant player...
19h ago