If there was a word that dominated startup and tech news coverage this year, it was SoftBank. The Japanese telecom conglomerate’s Vision Fund pushed out a prodigious amount of capital this year — quite literally billions of dollars — into companies as diverse as a molecular manufacturer (Zymergen) and a robotic pizza delivery business (Zume Pizza). […]
View More With today’s IPO sinking, a year of highs and lows for SoftBankCategory: Earnings
Interest rates and fears of a mounting trade war send tech stocks lower
Shares of technology companies were battered in today’s trading as fears of an increasing trade war between the U.S. and China and rising interest rates convinced worried investors to sell. The Nasdaq Composite Index, which is where many of the country’s largest technology companies trade their shares, was down 219.4 points, or 3 percent, to […]
View More Interest rates and fears of a mounting trade war send tech stocks lowerCryptocurrency chill causes mining speculator Nvidia’s stock to plunge
The cryptocurrency market is an exciting one, but it’s also unpredictable — and when things go south, they take related businesses with them. Nvidia, a hardware giant that has been riding the cryptocurrency wave, saw its stock price take a double-digit hit as it reported vanishing demand for GPUs specializing in crypto-mining.
View More Cryptocurrency chill causes mining speculator Nvidia’s stock to plungeAirbnb made more than $1 billion in revenue last quarter
Ahead of Airbnb’s expected initial public offering next year, the home-sharing startup announced more than $1 billion in revenue during Q3 2018. Airbnb says this was its strongest quarter to date, where it saw “substantially more” than $1 billion in revenue. Airbnb, however, has been without a permanent chief financial officer since February, when Laurence […]
View More Airbnb made more than $1 billion in revenue last quarterChina’s Craigslist continues growth after netting 100 million small-town users
58.com, the Craiglist of China, is making a massive push to pick up rural users as it hedges China’s economic uncertainties. During the third quarter, revenues grew 33.2 percent to $527 million and net income jumped 106 percent to $106 million year-over-year. The classifies giant said in Thursday’s earnings call that it added over 100 million new […]
View More China’s Craigslist continues growth after netting 100 million small-town usersUber continues to lose money as it scales scooters, bikes and other newer businesses
Uber, which is expected to go public sometime next year, just released its Q3 2018 financial results. Uber’s net losses increased 32 percent quarter over quarter to $939 million on a pro forma basis, though Uber expected these losses as it continues to invest in future growth areas. On an earnings before interest, taxes, depreciation […]
View More Uber continues to lose money as it scales scooters, bikes and other newer businessesTencent returns to profit growth despite concern around games
Chinese internet giant Tencent bounced back from a disappointing previous quarter, but for once the company didn’t have its gaming business to thank. Tencent may be best known for conjuring up WeChat, China’s most popular messaging platform, but its revenue is driven by its gaming business, which includes top smartphone titles and a thriving PC […]
View More Tencent returns to profit growth despite concern around gamesBlue Apron lays off 4 percent of employees as it seeks profitability next year
Meal kit company Blue Apron announced small layoffs today as part of its Q3 2018 financial results. The layoffs, which affected four percent of Blue Apron’s workforce, are part of Blue Apron’s path to profitability. “We are taking decisive actions to prioritize our highest-impact opportunities and build a stronger, sustainable business,” Blue Apron CEO Brad […]
View More Blue Apron lays off 4 percent of employees as it seeks profitability next yearIAC reorg makes Vimeo and DotDash standalone segments, adds new acquisition Robokiller
IAC is changing the way its business is organized, the company reported during its Q3 2018 earnings on Wednesday. The company’s video platform Vimeo and DotDash (previously About.com) will become their own separate segments at IAC starting in Q4. That means they’ve reached the point their revenues can stand on their own. The company beat on […]
View More IAC reorg makes Vimeo and DotDash standalone segments, adds new acquisition RobokillerDespite a strong Q3 earnings report, Square’s Q4 forecast disappoints investors
Despite a strong third-quarter earnings report, Square’s forecast for the final quarter of this year gave investors pause, sending its share price down 6 percent in after hours trading before it gradually climbed up again. Square’s adjusted revenue grew 68 percent year-over-year to $431 million, beating expectations from analysts polled by Refinitiv (formerly the financial […]
View More Despite a strong Q3 earnings report, Square’s Q4 forecast disappoints investorsApple beats on Q4 earnings thanks to price hikes, stock still falls 7% after hours
Despite a beat on its Q4 quarterly earnings, Apple shares still managed to take a beating Thursday. Shares are down 7 percent in after-hours trading after the company released its Q4 quarterly earnings report, detailing $62.90 billion in revenue beating analyst expectations of $61.57 billion, with earnings per share hitting $2.91 beating an expected $2.78 EPS. The results […]
View More Apple beats on Q4 earnings thanks to price hikes, stock still falls 7% after hoursSpotify posts $1.35B in Q3 sales; MAUs up 28% to 191M with 87M paying users
Spotify, the streaming music company that went public earlier this year, posted its quarterly results today, and while it’s continuing to grow, it appears to just about be meeting analyst expectations when it comes to its financials. The company said that it made €1.352 billion in revenues for the quarter that ended in September, which […]
View More Spotify posts $1.35B in Q3 sales; MAUs up 28% to 191M with 87M paying users