Brian Chesky, co-founder and chief executive officer of Airbnb Inc., during a news conference in Los Angeles, California, US, on Wednesday, May 1, 2024. Eric Thayer | Bloomberg | Getty Images Airbnb shares surged 14% and headed for their best day ever after the company reported stronger-than-expected fourth-quarter earnings. The stock debuted on the Nasdaq […]
AppLovin skyrockets 30% after earnings beat, strong guidance
Piotr Swat | Lightrocket | Getty Images Shares of AppLovin ripped 30% higher Thursday after the company reported a fourth-quarter earnings beat, causing many analysts to lift their price targets as the stock crossed the $500 mark for the first time ever. The ad tech company said on its earnings call it was divesting its […]
Lyft shares sink 6% on underwhelming fourth-quarter results
Lyft shares shed about 6% after the ride-sharing app reported lackluster fourth-quarter results and offered weak bookings guidance as it lowers prices to keep up with competition. The company reported revenues of $1.55 billion, versus the $1.56 billion expected by analysts polled by LSEG. Revenues grew 27% from $1.22 billion a year ago. Bookings, which […]
Shopify removes Ye website selling swastika shirts after Super Bowl ad
Rapper Ye, formerly known as Kanye West, performs onstage during a “Vultures 1” concert in Inglewood, California on March 14, 2024. Scott Dudelson | Getty Images Entertainment | Getty Images Shopify has taken down a site advertised by rapper Ye, formerly known as Kanye West, that sold swastika t-shirts. The rapper ran an advertisement on […]
AppDynamics founder Jyoti Bansal merges startups Harness, Traceable
Jyoti Bansal, co-founder and CEO of startup Harness. Harness Jyoti Bansal knows about weird acquisitions. Eight years ago, his software company, AppDynamics, was on the doorstep of a blockbuster initial public offering. A day before the offering, Cisco swooped in and bought the company for $2.7 billion Now Bansal is at the center of an […]
Deepseek’s AI model ‘the best work’ out of China: Google Deepmind CEO
Google DeepMind co-founder and Chief Executive Officer Demis Hassabis gives a conference during the Mobile World Congress (MWC), the telecom industry’s biggest annual gathering, in Barcelona on February 26, 2024. Pau Barrena | Afp | Getty Images PARIS — Deepseek’s AI model “is probably the best work” out of China, Demis Hassabis, the CEO of […]
Anduril in talks to raise money at $28 billion valuation
Anduril, the defense-tech startup founded by Palmer Luckey, has signed a term sheet to raise capital at a $28 billion valuation, according to people familiar with the matter. The company is planning to raise up to $2.5 billion in the round, said the people who asked not to be named because the details are confidential. […]
Amazon scrubs DEI mention from its annual report
A person walks by The Spheres at the Amazon.com Inc. headquarters in Seattle, Washington, on Nov. 14, 2022. David Ryder | Getty Images News | Getty Images Amazon has removed any references to diversity and inclusion from its most recent annual report. The company filed its report for 2024 on Friday following the release of […]
Roblox plummets 14% on disappointing bookings, daily active users miss
Roblox shares plunged more than 12% after the gaming platform fell short of Wall Street’s bookings and daily active user estimates. Roblox reported bookings of $1.36 billion for the fourth quarter, versus the $1.37 billion expected by analysts polled by LSEG. Daily active users came in at 85.3 million, reflecting 19% growth from a year […]
AMD shares drop 7% on disappointing data center revenue
Lisa Su, chair and CEO of Advanced Micro Devices Inc., during the AMD Advancing AI event in San Jose, California, on Dec. 6, 2023. David Paul Morris | Bloomberg | Getty Images Advanced Micro Devices shares fell 7% on Wednesday after the chipmaker under-delivered on Wall Street’s estimates for its important data center business. Shares […]