Semiconductor Manufacturing International Corporation (SMIC) recently issued a warning regarding the intense competition in the chip industry after its first-quarter profit fell below expectations. The company stated that competition in the industry has been increasingly fierce, with pricing for commodity products following market trends. Despite efforts to maintain a long-term view through constructing quality technology
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Reddit shares experienced a significant boost, surging by 14% in after-hours trading following the release of their quarterly results. Despite reporting a loss per share of $8.19, which was slightly lower than the $8.71 loss projected by LSEG, Reddit’s revenue exceeded expectations. The company reported revenue of $243 million, compared to the anticipated $212.8 million.
In the United States, food waste is a significant issue, with approximately one-third of all food produced ending up in landfills instead of being consumed. This surplus production not only leads to environmental harm through excess greenhouse gas emissions but also contributes to unnecessary packaging, storage, and delivery requirements. While food delivery services like HelloFresh
Disney Plus and Hulu have recently achieved a significant milestone by posting a profit for the first time. In the latest earnings report released by Disney, it was revealed that both streaming services made a combined profit of $47 million this past quarter. This turnaround is remarkable considering the $587 million loss reported at the
Palantir shares took a hit, dropping around 7% in extended trading after the defense tech firm reported weaker-than-expected guidance. The company’s earnings per share came in at 8 cents adjusted, in line with expectations, but its revenues of $634 million fell short of the $625 million expected by analysts. Looking ahead, Palantir issued guidance for
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Coinbase recently released its first-quarter earnings report, surprising analysts with better-than-expected revenue. Despite this positive news, the stock saw a 2% decline in extended trading. The company reported earnings of $4.40 per share, significantly higher than the $1.09 average analyst estimate. Additionally, Coinbase generated revenue of $1.64 billion, surpassing the expected $1.34 billion. One of
Huawei, the Chinese tech giant, has reported a significant increase in profits for the first quarter of this year, with a surge of over fivefold compared to the same period last year. This positive development comes as Huawei continues to rebound from the sanctions imposed by the United States. The company has been facing challenges
Amazon is expected to report revenue growth of 12% for the first quarter, continuing a trend of expansion in the low double digits for the fourth straight quarter. This would represent a slight acceleration from the previous year. The company’s earnings per share are anticipated to be 83 cents, with revenue hitting $142.5 billion. Analysts
In recent years, the tech industry has seen a surge in job layoffs despite the impressive earnings of tech giants like Alphabet and Microsoft. Layoffs.fyi reported over 263,000 job losses in 2023 alone, with more than 75,000 jobs lost in the first few months of 2024. This trend has caused concern among tech workers and