Reddit has recently released its quarterly results, showcasing a remarkable revenue growth of 48% from $163.7 million to $243 million year-over-year. The company’s ad revenue for the period also saw a significant increase of 39%, outpacing its competitors in the digital advertising sector. Despite reporting a net loss of $575.1 million, Reddit’s performance in terms
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The United States has a major issue with food waste, with approximately one-third of all food produced in the country ending up in landfills. This excess food production not only contributes to storage and packaging waste but also has a negative impact on climate change. Recent research published in the journal Science has shown that
Palantir, the renowned defense tech firm, witnessed a substantial drop of around 7% in its shares during extended trading as a result of the release of its weaker-than-expected guidance. The company reported an adjusted earnings per share of 8 cents, aligning with the predicted figure, but missed the revenue estimate by a slim margin. While
Investors and enthusiasts alike have been buzzing about Tesla’s latest milestone in bringing its Full Self-Driving (FSD) service to China. However, according to Mark Hawtin, an investment director at GAM Investment Management, the excitement may be premature. Hawtin pointed out that Tesla’s FSD is not truly autonomous driving but rather an assisted-driver capability. This distinction
Coinbase, the leading cryptocurrency exchange in the United States, recently released its first-quarter earnings report, and the results surpassed analysts’ expectations. The company reported a revenue of $1.64 billion, significantly higher than the projected $1.34 billion. Additionally, Coinbase reported earnings of $4.40 per share, a stark contrast to the average analyst estimate of $1.09 per
Bitcoin, the world’s leading digital currency, experienced a significant drop in value on Wednesday, hitting its lowest level in over two months. This sharp decline was triggered by a broader risk-off sentiment in the markets, as investors anxiously awaited the U.S. Federal Reserve’s upcoming interest rate decision. The price of Bitcoin plummeted to $56,757.93, slipping
Amazon is set to announce its first-quarter earnings after the bell on Tuesday, with analysts predicting earnings per share of 83 cents and revenue totaling $142.5 billion. Wall Street is also closely monitoring other critical figures in the report, including: – Amazon Web Services generating $24.5 billion in revenue – Advertising revenue expected to reach
Tesla’s shares surged in U.S. premarket trading following a major breakthrough in the company’s efforts to introduce its full self-driving technology in China. The stock price spiked by more than 10% as investors reacted positively to the news of Tesla CEO Elon Musk’s visit to China. This development came after local Chinese authorities lifted restrictions
As the competition in the cloud computing industry intensifies, U.S. cloud infrastructure provider Oracle is stepping up its generative AI capabilities to stay ahead of the curve. The demand for AI technology has seen a significant surge, fueled by the launch of chatbot ChatGPT in November 2022. Companies are increasingly leveraging AI for various applications,
Despite the high earnings reported by tech giants like Alphabet and Microsoft, the industry is still experiencing significant layoffs. Layoffs.fyi, a platform that monitors job cuts in the tech sector, noted over 263,000 job losses in 2023 and more than 75,000 so far in 2024. This trend has shifted from rewarding growth to rewarding profit,