Tag: Internet Media and Services

Uber Technologies said on Wednesday it will cut about 3,300 jobs, or roughly 10% of its workforce, in a restructuring aimed at removing management layers, consolidating teams and reducing costs.

Berkshire took a $10 billion stake in Google 15 months ago at a 6.5% discount, CEO Greg Abel said to CNBC’s Becky Quick.

Nvidia on Wednesday forecast a 70% ​jump in revenue next fiscal year, underscoring unabated demand for AI computing, while warning that shortages of memory components would continue to curb how ‌quickly it can expand.

Meta Platforms will pay up to $18 billion over the next decade and strictly limit how teenagers use Facebook and Instagram under an agreement with nearly all U.S. states to resolve claims it designed those social media platforms to addict children.

Meta Platforms and state attorneys general have discussed a potential mid-trial settlement of a lawsuit accusing the company of deliberately ​designing Facebook and Instagram to be addictive to young users, Bloomberg ‌News reported on Tuesday, citing people familiar with the matter.

Meta Platforms rejected accusations by U.S. states that it intentionally sought to addict children to its Facebook and Instagram platforms in pursuit of profit, at the start of a trial that could reshape ​some of the most popular apps on the planet.

Alphabet has raised A$5.5 billion ($3.89 billion) via its inaugural Australian dollar debt issuance, according to a term sheet seen by Reuters, adding to the hectic pace of fundraising by global tech companies.

Meta will face off against attorneys general from several states in an Oakland, Calif., courtroom Tuesday as part of a major lawsuit alleging that the company violated child safety and consumer protection laws and harmed children’s mental health.

Reddit shares rose 11% in extended trading on Thursday on the social media company’s inclusion in the S&P 500.

Trade Desk stock slumped 28% in premarket trading after the advertising technology company reported second-quarter revenue that fell short of expectations.

Airbnb shares surged over 8% in premarket trading Friday after the vacation rental company topped Wall Street estimates for the second quarter and raised its full-year outlook, helped by strong travel demand, accelerating bookings and higher average daily rates.

Shares of Uber Technologies declined Wednesday as the ride-hailing platform’s second-quarter earnings were broadly in-line with expectations and guidance failed to impress Wall Street.

Snap reported better-than-expected revenue and earnings for the second quarter and issued a forecast for the current period that topped analysts’ estimates. The stock jumped about 8% in extended trading.

Adjusted earnings per share came in at €2.61, missing the consensus estimate of €2.76. Revenue reached €4.78 billion, slightly below the analyst estimate of €4.79 billion, representing 14% growth YoY or 15% on a constant currency basis.

Reddit reported second-quarter earnings on Thursday that beat on the top and the bottom lines, and the company issued guidance that sailed past expectations.

Meta shares slid in extended trading on Wednesday after the company issued a weaker-than-expected revenue forecast and took a big hit to its cash pile.

Meta, opens new tab on Friday launched a new app called “Seller” to offer dedicated selling tools to merchants ​using the company’s Facebook Marketplace platform for buying ‌and selling items.

Google parent Alphabet reported better-than-expected revenue for the second quarter on Wednesday, driven by growth of 82% in its cloud business. But the stock sank in extended trading as the company lifted its forecast for capital expenditures.

 Alphabet’s (GOOGL.O), Google is months behind schedule on the release of Gemini 3.5 Pro, its most powerful flagship AI model, as ​the tech giant works to improve its capabilities, particularly in ‌coding, Bloomberg News reported on Thursday.

Meta (META.O) said on Monday its data center in Richland Parish, Louisiana, will expand to 5 ​gigawatts of compute capacity, with investment in the project increasing ‌to more than $50 billion.