Reddit shares saw a significant 14% increase in after-hours trading following the release of its quarterly results since going public in March. Despite reporting a loss per share of $8.19, which was slightly lower than the anticipated $8.71 loss, the company managed to exceed revenue expectations. With a revenue of $243 million, Reddit outperformed the
Enterprise
Food waste is a pressing issue in the United States, with a significant portion of produced food ending up in landfills instead of being consumed. This not only leads to wasted resources but also contributes to climate change. However, recent studies have shown that food delivery services can play a crucial role in reducing food
Palantir, the defense tech firm known for its big-data and artificial intelligence software, experienced a significant drop in share value after reporting weaker-than-expected guidance. Despite meeting earnings per share expectations, the company fell short on revenue figures, causing shares to fall by approximately 7% in extended trading on Monday. Looking ahead, Palantir expects second-quarter revenue
The recent news of Tesla’s progress towards launching its advanced driver-assistance feature in China has stirred up a significant amount of excitement among investors. However, according to Mark Hawtin, the investment director at GAM Investment Management, the hype surrounding Tesla’s Full Self Driving (FSD) service may be exaggerated. Hawtin believes that the expectations for Tesla’s
Coinbase recently released its first-quarter earnings report, surpassing analysts’ expectations with flying colors. The company reported earnings of $4.40 per share, significantly higher than the estimated $1.09 per share. Furthermore, Coinbase’s revenue of $1.64 billion exceeded the projected $1.34 billion, reflecting its strong performance in the market. The primary marketplace in the U.S. for digital
Bitcoin experienced a significant drop on Wednesday, reaching its lowest level in over two months as broader market sentiment turned risk-off. The digital currency fell below $57,000 for the first time since February 28th, hitting a low of $56,757.93. The price of Bitcoin was down 6.3% to $57,505.24, with other cryptocurrencies like ether, solana, and
When Amazon reports its first-quarter earnings after the bell on Tuesday, analysts are expecting some impressive numbers. Specifically, they are projecting earnings per share of 83 cents and revenue of $142.5 billion. Wall Street is also keeping a close eye on two other key figures in the report: Amazon Web Services revenue of $24.5 billion
The stock market saw a significant surge in Tesla’s shares during premarket trading in the U.S. following the announcement that the electric car company had reached a milestone in rolling out its full self-driving technology in China. The share price jumped by more than 10% in response to Tesla CEO Elon Musk’s visit to China
As the demand for AI technologies continues to rise, U.S. cloud infrastructure provider Oracle has been focusing on boosting its generative AI capabilities. The intensifying cloud competition has led Oracle to introduce new features to its cloud infrastructure and applications to stay ahead in the game. Oracle has recognized the significance of generative AI, especially
The tech industry, once considered a beacon of job security and growth, is now facing a wave of mass layoffs that are significantly impacting the workforce. Despite impressive earnings from tech giants like Alphabet and Microsoft, job cuts have become a common occurrence, with over 263,000 job losses reported in 2023 alone. The numbers continue
