Cognizant first-quarter revenue beats estimates on steady spending by clients
(Reuters) - Cognizant Technology Solutions beat Wall Street estimates for first-quarter revenue on Wednesday, helped by steady spending by clients, sending its shares up more than 4% in aftermarket trading. Signs of improving business environment a...
7h ago
PTC forecasts quarterly revenue below estimates
(Reuters) - Industrial software maker PTC forecast quarterly revenue below estimates while also slightly tightening full year guidance on Wednesday, signaling continued weakness in demand for its industrial design and testing software as companies ...
7h ago
Freshworks names Dennis Woodside as CEO, shares tumble
(Reuters) - Freshworks said on Wednesday that Dennis Woodside will take over as CEO of the CRM software maker, and founder Girish Mathrubootham will be the firm's executive chairman. Shares of the San Mateo, California-based company fell about 21% ...
7h ago
Paycom forecasts Q2 revenue below estimates
(Reuters) - Paycom Software on Wednesday forecast second-quarter revenue below market estimates, hit by sluggish demand for payroll and human resource management solutions. Sticky inflation and high borrowing costs have clouded the payroll processo...
7h ago
Qorvo forecasts quarterly results below estimates on weak flagship smartphone market
(Reuters) - Wireless connectivity chipmaker Qorvo forecast first-quarter revenue and profit below Wall Street estimates on Wednesday as it expects weak demand from flagship smartphone market, sending shares down more than 11% in aftermarket trading...
7h ago
Etsy misses first-quarter sales, profit estimates on lower discretionary demand
(Reuters) - Etsy missed Wall Street expectations for first-quarter gross merchandise sales (GMS) and profit on Wednesday, hurt by lower demand for its handcrafted goods and personalized gifts at its online marketplace. WHY IS IT IMPORTANT? Despite ...
7h ago
Chipmaker Wolfspeed forecasts quarterly revenue below estimates as EV sales growth slows
(Reuters) - Chipmaker Wolfspeed forecast current-quarter revenue below estimates on Wednesday as automakers grapple with high inventory levels due to slower-than-expected EV sales growth. Shares of the company, which counts General Motors and Merce...
7h ago
EBay forecasts quarterly revenue below expectations
(Reuters) - Ecommerce firm eBay forecast second-quarter revenue below Wall Street estimates on Wednesday, as demand cools for product categories like collector's items and auto parts. The company expects revenue in the range of $2.49 billion to $2....
8h ago
Qualcomm forecast beats estimates as AI revives smartphone market
By Stephen Nellis and Arsheeya Bajwa (Reuters) - Qualcomm on Wednesday forecast fiscal third-quarter sales and adjusted profit above Wall Street expectations, driven by a faster-than-expected recovery in smartphone markets thanks to artificial-int...
8h ago
US lawmaker probes FTC work with EU to block Amazon iRobot merger
WASHINGTON (Reuters) - The chair of the House Oversight Committee said Wednesday he is investigating the Federal Trade Commission's (FTC) work with the European Commission in the collapse of Amazon.com's plan to acquire iRobot Corp in a $1.4 billio...
11h ago
Analysis-Tesla's restructuring hits executive bench hailed by Elon Musk
By Joseph White, Aditya Soni and Kevin Krolicki (Reuters) - Just over a year ago, Elon Musk shared the stage at Tesla's investor day in Texas with 16 executives who gave detailed presentations on the company's technology and growth plans, then line...
12h ago
British payments group Epos Now explores possible stake sale, sources say
By Amy-Jo Crowley and Anousha Sakoui LONDON (Reuters) - British tech group Epos Now is exploring strategic options, including the sale of a minority stake in the business, four people familiar with the matter told Reuters. The Norfolk-based compa...
13h ago
Abu Dhabi AI company Presight takes majority stake in tech venture AIQ
DUBAI (Reuters) - Artificial intelligence company Presight AI Holding has acquired a majority stake in AIQ, a technology joint venture between Abu Dhabi National Oil Company (ADNOC) and G42, under a new ownership structure announced by the companie...
13h ago
US trade panel to probe GoPro's claims that Chinese firm violated its patents
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 product...
13h ago
Anthropic releases business chatbot in hunt for corporate dollars
By Stephen Nellis (Reuters) - Artificial intelligence startup Anthropic launched a version of its latest chatbot technology aimed at businesses on Wednesday, jumping into the race to capture corporate dollars. The San Francisco-based firm, backed b...
14h ago
US prosecutors examining financial transactions at Block, NBC News reports
(Reuters) - U.S. prosecutors are examining financial transactions at Block, NBC News reported on Wednesday, citing two people with direct knowledge of the matter. NBC reported that federal prosecutors were discussing with a former employee alleged ...
14h ago
Global Payments forecasts full-year profit above estimates on strong spending
(Reuters) - Global Payments forecast better-than-expected profit for 2024 on Wednesday, as a strong labor market boosts consumer spending. Payment technology companies have largely downplayed worries of a spending slowdown despite higher-for-longe...
16h ago
Roblox players to start seeing video ads in its virtual realms
(Reuters) - Roblox is rolling out virtual billboards with video advertisements, the gaming platform said on Wednesday, in its latest move to draw revenue from its games that are mostly free to play. Users will now see billboards featuring content f...
17h ago
Verisk's first-quarter profit beats on insurance-focused analytics demand
(Reuters) - Data analytics firm Verisk beat estimates for first-quarter profit on Wednesday, driven by strong demand for its products used by property and casualty (P&C) insurers to assess underwriting risks. WHY IT'S IMPORTANT P&C insurers' earnin...
17h ago
AMD, Super Micro tumble as earnings fall short of lofty AI expectations
(Reuters) - Shares of Advanced Micro Devices and Super Micro Computer sank on Wednesday, sparking a selloff in chip stocks, after their earnings disappointed investors who have piled into the sector on hopes rising AI investments would boost demand...
18h ago
ADP beats estimates as strong job market aids demand for payroll services
(Reuters) - Payroll processor Automatic Data Processing beat estimates for third-quarter revenue and profit on Wednesday, driven by steady demand for its payroll software and new bookings. U.S. job growth accelerated from January through March, and...
18h ago
CDW Corp's first-quarter results miss on weak IT spending
(Reuters) - CDW Corp missed analysts' estimates for first-quarter results on Wednesday, hurt by weak demand for its IT solutions as customers cut back their technology budgets, sending the company's shares down about 5.5% before the bell. Businesse...
18h ago
Garmin's Q1 results beat on strong demand for fitness, auto products
(Reuters) - Swiss navigation device maker Garmin topped Wall Street expectations for first-quarter results on Wednesday, benefiting from new launches and strong demand for its products in fitness and auto segments. Garmin, which offers GPS devices...
18h ago
Apple set for big sales decline as investors await AI in iPhones
By Yuvraj Malik (Reuters) - Apple's plan to add generative AI to its iPhones and revive sagging sales in the crucial Chinese market will be in focus on Thursday, when the tech giant is expected to report its biggest quarterly revenue decline in mor...
19h ago
OnlyFans faces UK probe into age-verification measures
(Reuters) - Britain's media regulator Ofcom has opened an investigation into OnlyFans, it said on Wednesday, looking into whether the adults-only website is doing enough to prevent children accessing pornography on its platform. "Having reviewed su...
19h ago