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
Enterprise
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
As the digital advertising landscape is slowly recovering from the turmoil of the past years, major players like Meta, Snap, and Google are starting to see growth again. Meta, in particular, reported an impressive 27% jump in first-quarter revenue to $36.5 billion, marking its strongest rate of expansion since 2021. This growth can be attributed
Once a key figure at Tesla, Drew Baglino made headlines when he announced his resignation from the electric vehicle company. Baglino, who had been with Tesla for 18 years, decided to part ways with the company, citing personal reasons. However, what caught the attention of many was the fact that he sold shares in Tesla
Mark Zuckerberg recently faced a backlash from investors as Meta’s stock tumbled by as much as 19% following the earnings call. Despite reporting better-than-expected profit and revenue for the first quarter, investors were not on board with Zuckerberg’s focus on the company’s financial losses and the future investments being made. The drop in Meta’s shares
SK Hynix, a South Korean memory chipmaker, has announced a significant turnaround in its financial performance. The company reported a net profit of 1.92 trillion South Korean won ($1.39 billion) in the first quarter of this year, marking a remarkable reversal from a loss of 2.58 trillion won in the same period last year. This
In a recent sentencing memorandum filed with the court for the western district of Washington, U.S. prosecutors are pushing for a harsher sentence of 36 months for the former CEO of cryptocurrency exchange Binance. This sentence is well above the suggested advisory guidelines, which recommend a range of 12 to 18 months in prison. The
Jack Dorsey, the CEO of Block, formerly known as Square, recently announced that the company is taking its bitcoin mining ambitions to the next level. They have moved beyond just designing chips to developing a full bitcoin mining system. This move demonstrates their commitment to innovation and growth in the cryptocurrency space. According to Block,
