Apple has partnered with India's second-largest telecom operator, giving the iPhone producer a much-needed boost in the content market. The company remains significantly behind giants such as Spotify and Walt Disney in this market.
The American tech corporation, aiming to increase global revenue from services, including apps, payment systems, and media, will...
GitLab Inc. has delivered a robust financial performance for Q2 , posting earnings of 12.3 million USD or 0.08 USD per share, a significant improvement from a loss of 51.2 million USD or 0.33 USD per share a year earlier. On an adjusted basis, earnings per share reached 0.15 USD, surpassing the expected 0.10 USD per share. Revenue also rose impressively, reaching...
Tesla Inc. is gearing up to introduce a six-seat version of its Model Y vehicle in China starting in 2025, aiming to refresh the appeal of its top-selling but maturing electric car model. The company has initiated preparations with suppliers to ramp up Model Y production significantly at its Shanghai facility. While details on the expansion of the production...
China's State Administration of Market Regulation (SAMR) has officially concluded its antitrust investigation into Alibaba, indicating satisfactory compliance by the e-commerce giant with anti-monopoly laws. This investigation, which began in 2021, resulted in a substantial fine of 18.23 billion CNY (approximately 2.6 billion USD) due to practices restricting...
Marvell Technology, Inc. has reported a remarkable 10% quarter-on-quarter revenue growth, primarily driven by robust demand for its artificial intelligence (AI) products. According to the company's recent press release, Marvell anticipates continued growth across all end markets, with an expected revenue increase of 14% for Q3.
Matt Murphy, chair and CEO of...
Gap Inc., a leading global retailer, is poised to release its Q2 earnings report after today's market close, projecting a revenue increase to 3.63 billion USD, marking a 2% rise from the previous year. The company also anticipates an increase in earnings per share to 0.40 USD, up by 0.06 USD from last year. Additionally, preliminary data suggest a nearly 3%...
IBM captured significant attention in August 2024, driven by pivotal developments that underscore the company’s strategic realignment and technological innovation. The decision to close its research and development centre in China, which will impact over 1,000 employees, is part of a broader global restructuring aimed at sharpening its focus on burgeoning sectors...
ExxonMobil has released a report projecting that global oil demand will remain stable until 2050 despite the accelerating shift towards renewable energy sources. According to ExxonMobil, oil demand is expected to stabilise after 2030, maintaining levels above 100 million barrels per day, closely aligning with the current 102.2 million barrels per day. This...
Investors and analysts are keenly focused on Nvidia Corporation as it prepares to release its Q2 earnings this Wednesday. Nvidia, a powerhouse in the artificial intelligence industry, has been at the forefront of producing cutting-edge chips for data centres, which is crucial for developing AI models. The company's products are in high demand, serving a diverse...
Lucid Motors has seen a remarkable 37% increase in stock value following a significant 1.5 billion USD investment from the Saudi Arabian Public Investment Fund, a principal shareholder. This influx of capital is pivotal as it supports the launch and development of Lucid's new electric vehicle, the Lucid Gravity. The investment enhances Lucid Motors' financial...
PayPal Holdings, Inc. has entered into a promising partnership with the Dutch payment company Adyen, introducing the innovative Fastlane feature to streamline the checkout process for corporate and marketplace customers in the US. This collaboration is poised to significantly boost PayPal’s revenue, potentially adding 1-1.5 billion USD to its transaction margin....
General Motors (GM) is undergoing a significant restructuring of its operations in China in response to declining sales and intense competition from local manufacturers. As part of its strategic adjustments, GM has started to reduce its workforce, particularly in departments focused on the Chinese market, such as research and development. These changes are...
Nu Holdings Ltd., a leading digital banking player globally, saw its stock prices rise following an impressive second-quarter earnings report . The company's profits more than doubled compared to the previous year, an achievement that has significantly offset concerns about increasing loan delinquency rates and a reduction in bad loan provisions.
Operating...
EPAM Systems Inc., a global provider of software and cloud services, recently disclosed its Q2 2024 earnings, presenting a mix of challenges and strategic advancements. Despite experiencing a decline in revenue and profit, EPAM has surpassed its forecasts, signalling resilience and potential for recovery. The company, known for its digital platform design,...
SoundHound AI Inc. has demonstrated a significant uptick in its financial performance with a strong Q2 earnings report , a testament to its economic stability. Sounhound AI not only posted record revenue, but also maintained a robust cash reserve, signalling healthy operational stamina and potential for further growth. This performance is underpinned by the...
Apple Inc. is reportedly considering charging users up to 20 USD for advanced artificial intelligence features under its new initiative, Apple Intelligence. This strategic move aims to bolster the company's revenue streams by leveraging its technological advancements. Slated to be rolled out on some devices later this year, Apple Intelligence plans to enhance...
Netflix Inc. has once again demonstrated a robust increase in revenue, confirming the effectiveness of its strategic initiatives aimed at boosting subscriber growth. A significant aspect of Netflix's strategy has been tightening rules against account sharing and introducing cheaper, ad-supported subscription plans. These measures have attracted new subscribers...
IonQ, Inc., a leader in quantum computing technology, has been awarded a pivotal 40 million USD contract by the Applied Research Laboratory for Intelligence and Security (ARLIS) in the US, in line with the Pentagon's major initiative in quantum security. This contract potentially positions IonQ to lead in this high-stakes area for years to come. It also sparks...
