Tag: Internet Media and Services

Shares of European food-delivery groups fell sharply Tuesday after the discounted sale of a big share stake raised questions about the market’s valuation of the sector.

Google-parent Alphabet  is set to cut more jobs in order to make space for investment in artificial intelligence.

Alphabet Inc.’s Google is laying off hundreds of staff working on its digital assistant, hardware and engineering teams as it sustains a drive to cut costs.

 Activist investor Elliott Investment Management has built a roughly $1 billion stake in Match Group and plans to push the Tinder dating app owner to take steps to improve its performance, the Wall Street Journal reported on Monday.

The internet search giant, owned by Alphabet, has agreed to settle a $5 billion consumer-privacy lawsuit, alleging it tracked the internet use of millions of people who thought they were browsing privately.

X, the social media platform formerly known as Twitter, suffered major outages in the early hours of Thursday morning that left users unable to access the site.

ByteDance Ltd.’s sales surged in 2023 to more than $110 billion, according to people familiar with the matter, potentially overtaking arch-foe Tencent Holdings Ltd. in a sign TikTok’s fledgling e-commerce business is driving growth at a time of economic malaise.

Music streaming service Spotify’s CEO, Daniel Ek, announced that the company is laying off 17% of its workforce.

ByteDance is cutting hundreds of jobs in its gaming division, a person familiar with the mater told CNBC.

Revenue grew by 6% year-on-year to 34.45 billion yuan ($4.72 billion) in the quarter that ended Sept. 30. That was slightly higher than analyst expectations.

HONG KONG, Nov 15 (Reuters) – China’s Tencent Holdings said third-quarter revenue climbed 10%, as its games business staged a robust recovery from a regulatory crackdown on the country’s tech sector and online advertising sales surged.

Wise reported total income — including interest income — of £656 million in its half-year results, up 58% year-over-year.

Uber Technologies 0.82% reported third-quarter revenue below Wall Street expectations on Tuesday, but earnings above the consensus call.China’s exports fell by 6.4% year-on-year in October in U.S. dollar terms, China’s customs agency said Tuesday.

 Expedia Group on Thursday announced a new share buyback plan of $5 billion after posting a better-than-expected quarterly profit, as the online travel booking company benefited from resilient demand and higher rates that boosted margins.

Airbnb posted better-than-expected third-quarter financial results, but provided fourth-quarter guidance that fell a little below Street estimates. The results provide an early look at the state of the travel industry, ahead of coming reports from Expedia Booking.com  and other players.

Shares of Roku jumped nearly 20% on Thursday as the streaming device maker delivered a surprise core profit in the third quarter and forecast quarterly revenue above Wall Street estimates on the back of a recovery in the advertising market.

NEW YORK, Oct 25 (Reuters) – Meta Platforms (META.O) beat expectations for third-quarter profit and revenue on Wednesday, helped by its ongoing austerity drive and a recovery in digital advertising spending ahead of the holiday season.

Alphabet 1.69% stock fell in after-hours trading Tuesday despite stronger-than-expected quarterly earnings from the Google parent.

Spotify Technology swung to its first quarterly profit in more than a year after beating expectations for subscriber and revenue growth. However, this was not enough to keep the stock rising after a strong run this year.

Meta –0.41%  Platforms CEO Mark Zuckerberg on Wednesday unveiled the Quest 3 virtual reality headset