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Our Electoral College maps below lay out the best scenarios for him and Mr. Trump. In a Wall Street Journal battleground poll taken in March, Mr. Biden had only 37 percent job approval in the state. … orand The second and harder path for Mr. Trump would be if he carried only one Southern swing state – most likely North Carolina. By carrying these states, Mr. Biden has several paths to 270, but the first three scenarios are his most viable. Scenario 4 They involve Mr. Biden winning Georgia and Arizona … They involve Mr. Biden winningand Scenario 5 … or Michigan and Georgia.

Persons: Biden, Akshita Chandra, Yuji Sakai, Joe Biden, Donald Trump, Trump, Biden’s, Court’s, … orand, Hamas’s, Mr, …, —, Bill Clinton’s, Doug Sosnik, Bill Clinton Organizations: Presidency, Trump, New York Times, Electoral, Wisconsin –, Sun, Siena, Black, The Arizona, Michigan, Mr, North Carolina, Republicans, Georgia, Democrats, Congressional District, Michigan …, Wisconsin, Democratic, House Locations: Arizona, – Michigan, Pennsylvania, Wisconsin, Georgia, Nevada, North Carolina, Mich, Pa, Nev, N.C, Ariz . Ga, Wis, Ariz ., Michigan, Arizona , Michigan, Arizona , Nevada, Israel, Gaza, Nebraska, Minnesota, United States, Michigan , Pennsylvania

☆ Cybersecurity firm Gen Digital beats revenue estimates on stable demand
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +1 min

Nov 7 (Reuters) - Gen Digital (GEN.O) beat second-quarter revenue estimates on Tuesday as rising digital threats and hacks drove stable demand for its cybersecurity products, sending the company's shares more than 3% higher before the bell. Growing worries about privacy and cyber attacks have in the past year supported demand for cybersecurity services. Gen Digital, which brings in a large chunk of its revenue from products aimed at consumers, has also leaned on its freemium options to spark demand at a time of high inflation. Gen Digital, whose products also include security solutions like firewalls, narrowed its fiscal year 2024 expectations to a range of $3.81 billion to $3.84 billion, from $3.80 billion to $3.85 billion previously. Annual earnings per share is expected between $1.95 to $2.00 per share, compared with its earlier forecast of $1.95 to $2.02 per share.

Persons: Avira, Gen, Akshita Toshniwal, Shailesh Organizations: Gen, Norton, Thomson

☆ Arista Networks forecasts Q4 revenue above estimates on higher enterprise spend
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

Oct 30 (Reuters) - Cloud networking solutions provider Arista Networks (ANET.N) forecast fourth-quarter revenue above estimates on Monday, as it expects easing supply chain restraints to underscore enterprise spending, sending its shares up 5.5% in extended trading. Arista has benefited from upbeat capital spending as clients shell out on cloud computing services to support their growing AI needs amid a recovering economy. Arista reported third-quarter revenue of $1.51 billion, a 28.3% increase from a year earlier, beating Street expectations of $1.48 billion. Rival Juniper Networks also beat estimates for third-quarter revenue last week, on the back of upbeat spending from cloud computing clients. On an adjusted basis, Arista posted quarterly profit of $1.83 per share, against expectations of $1.58.

Persons: Akshita, Krishna Chandra Organizations: Arista Networks, Arista, Microsoft Corp, Juniper Networks, Thomson Locations: Santa Clara , California, Bengaluru

☆ Cadence's downbeat fourth-quarter forecast signals weakness in chip industry
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

FILE PHOTO:The logo of Cadence Design Systems is pictured outside the company's offices in San Jose, California, U.S., January 31, 2020. REUTERS/Stephen Nelli/File Photo Acquire Licensing RightsOct 23 (Reuters) - Cadence Design Systems (CDNS.O) forecast fourth-quarter revenue and adjusted profit below Wall Street estimates on Monday, as slower R&D spending by semiconductor firms navigating a tough economy weighs on the chip design software provider. A slower-than-expected chip industry recovery has a cascading impact on firms like Cadence, which makes software tools and hardware that help produce blueprints for chips before they are mass manufactured. Cadence expects current-quarter adjusted profit per share in the range of $1.30 to $1.36. Analysts had expected adjusted profit of $1.37 per share, as per LSEG data.

Persons: Stephen Nelli, Akshita Toshniwal, Chavi Mehta, Shailesh Organizations: Cadence Design Systems, REUTERS, Wall, Cadence, Revenue, Thomson Locations: San Jose , California, U.S, Beijing, China, Bengaluru

☆ S&P upgrades Greece to investment grade for first time since 2010 crisis
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +2 min

Oct 20 (Reuters) - S&P Global is the first among the “big three” rating agencies to upgrade Greece to investment grade since the country’s debt crisis in 2010. The other two agencies, Fitch and Moody's, rate the country one notch below investment grade. DBRS Morningstar upgraded Greece's rating to investment grade BBB (low) last month. Greece expects economic output to rise 3% in 2024 following a 2.3% expansion this year more than twice the eurozone average. It’s trading as investment grade anyway,” Rabobank senior rates strategist Lyn Graham-Taylor told Reuters.

Persons: Fitch, DBRS Morningstar, Lyn Graham, Taylor, Akshita, Harry Robertson, Shailesh Kuber, Marguerita Choy Organizations: Global, BBB, Reuters, Greece's, Rabobank, Thomson Locations: Greece, Bengaluru, Lefteris, Athens

☆ Where to stay in India? Here are 8 former palaces that are now hotels
▼ + stars: | 2023-09-08 | by ( Poonam Binayak | Lisa Lucas | ) www.cnbc.com time to read: +7 min

Source: Heritage DharampuraIt's now a 14-room boutique hotel, which received an honorable mention in 2017's UNESCO Asia-Pacific Awards for Cultural Heritage Conservation. It was transformed into a heritage hotel in the 1960s and is now impeccably managed by the Taj Group. Taj Lake Palace Source: Taj Lake PalaceStraight out of a fairy tale, the Taj Lake Palace boasts domed pavilions, ornamental turrets, crystal chandeliers, and 83 antique-filled rooms and suites, some which overlook a gleaming courtyard that hosts nightly folk dances. Source: Taj Usha Kiran PalaceToday, it's a lavish Taj hotel that balances old-world vibes with contemporary style. It is now a heritage hotel managed by the Taj Group.

Persons: Jehan Numa, Jehan, Palace, General Obaidullah Khan, Vijay Goel, James Bond, Taj Falaknuma, —, Taj Usha Kiran, it's, King Charles , Louis Mountbatten, Jacqueline Kennedy, Bhanj Deo, There's Organizations: UNESCO, Cultural Heritage Conservation, Taj, Taj Group, Royal, Rambagh, Jaipur, Cochin — Locations: India, Odisha, Rajasthan, Bhopal, Dharampura, Delhi, UNESCO Asia, Jama Masjid, Old Delhi, Udaipur, Pichola, Mewar, Taj Lake, Lake, lavishness, Falaknuma, Nizam, Hyderabad, Windsor, Gwalior, Rambagh, Jaipur, Baripada, Chittoor Kottaram, Kochi, Chittoor, —, Cochin

☆ Google to make disclosure of AI-generated content mandatory for election advertisers
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

Google logo and AI Artificial Intelligence words are seen in this illustration taken, May 4, 2023. REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsSept 6 (Reuters) - Alphabet Inc's (GOOGL.O) Google will make it mandatory for all election advertisers to add a clear and conspicuous disclosure starting mid-November when their ads contain AI generated content, the company said on Wednesday. The policy would apply to image, video, and audio content, across its platforms, the company said in a blog post. Generative AI would enable groups with limited resources to produce higher quality content at scale, according to Mandiant. Any synthetic content that is irrelevant to the claims made in the ad will be exempted from the disclosure requirements, the advertising and search engine giant said.

Persons: Dado Ruvic, Deepfakes, Mandiant, Akshita, Shailesh Organizations: REUTERS, Google, Thomson Locations: United States, Bengaluru

☆ SentinelOne raises full-year forecast, adds partnership with Wiz still on
▼ + stars: | 2023-08-31 | by ( Akshita Toshniwal | ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsAug 31 (Reuters) - SentinelOne Inc (S.N) raised its annual revenue forecast on Thursday, riding on resilient adoption of its AI-backed security offerings as macroeconomic fears abate. The cybersecurity company also clarified that it had just canceled a "reselling agreement" with Wiz and their partnership with the startup was still on. Startup Wiz said last week that it was considering a potential bid for SentinelOne, which has struggled to become profitable, after reports that it was considering putting itself up for sale. The Mountain View, California-based company expects revenue for the full-year to be $605 million, up from the $590 million to $600 million range it had forecast in June. The cybersecurity company also forecast revenue of $156 million for the third quarter, higher than analysts' estimate of $154.20 million.

Persons: Brendan McDermid, Tomer Weingarten, Wiz, Akshita, Shailesh Organizations: SentinelOne Inc, New York Stock Exchange, REUTERS, SentinelOne, CrowdStrike Holdings, Thomson Locations: New York City, U.S, View , California, Bengaluru

☆ Okta forecasts quarterly revenue above expectations, shares surge
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

Okta's shares rose 10% after the bell, after the company also raised its annual revenue and adjusted earnings forecast. It also raised its revenue expectations for fiscal year 2024 to $2.21 billion to $2.21 billion from $2.18 billion to $2.19 billion earlier. Subscription backlog, a measure of future revenue, rose 8% to $3.03 billion. The identification software provider's revenue rose 23% in the second quarter from a year earlier to $556 million, beating expectations of $534.5 million. Its peer Cyberark Software (CYBG.F) also topped quarterly revenue expectations in June, in a positive sign for the sector.

Persons: Dado Ruvic, Okta, Arsheeya Bajwa, Krishna Chandra Organizations: REUTERS, Microsoft, Thomson Locations: San Francisco, Asia, Bengaluru

☆ HPE forecasts fourth-quarter revenue below estimates, shares fall
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Signs for Hewlett Packard Enterprise Co., cover the facade of the New York Stock Exchange November 2, 2015. HP Enterprise expects current-quarter revenue between $7.2 billion and $7.5 billion, the mid-point of which was below analysts' expectations of $7.49 billion, according to Refinitiv data. Rival Arista Networks (ANET.N) forecast a robust quarterly revenue after delivering better-than-expected results, helped by higher demand for its cloud gear following AI push. On an adjusted basis, HPE earned 49 cents per share for the third quarter ended July 31, compared with expectations of 47 cents. The Spring, Texas-based company posted quarterly revenue of $7.0 billion, beating analysts' estimate of $6.99 billion, according to Refinitiv IBES data.

Persons: Brendan McDermid, HPE, Akshita Toshniwal, Shailesh Organizations: Hewlett Packard Enterprise Co, New York Stock, REUTERS, Hewlett Packard Enterprise, Wall, HP Enterprise, Arista Networks, HP, Dell Technologies, Nvidia, Thomson Locations: , Texas

☆ Video-gaming revenue to grow 2.6% in 2023 on console sales strength - report
▼ + stars: | 2023-08-08 | by ( Akshita Toshniwal | ) www.reuters.com time to read: +2 min

A worker holds a Playstation 5 at a Best Buy store during Black Friday sales in Chicago, Illinois, U.S., November 25, 2022. REUTERS/Jim VondruskaAug 8 (Reuters) - Global video-games market would return to growth in 2023 on the back of strong sales of consoles such as Sony's Playstation 5, according to gaming market research firm Newzoo. Newzoo said it expects industry revenue to rise 2.6% to $187.7 billion in 2023, driven by a 7.4% rise in console sales in the year. Market research firm Circana said U.S. consumer spending on video-game hardware was up by 23% in the first half of 2023. Reporting by Akshita Toshniwal and Chavi Mehta in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Jim Vondruska, Newzoo, Tom Wijman, Circana, Akshita Toshniwal, Chavi Mehta, Shilpi Majumdar Organizations: Black, REUTERS, Gaming, PlayStation, Sony, Activision, Electronic Arts, EA Sports FC, Newzoo, Apple, Google, Thomson Locations: Chicago , Illinois, U.S, Bengaluru

☆ Shopify beats quarterly revenue estimates
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: 1 min

The logo of Shopify is seen outside its headquarters in Ottawa, Ontario, Canada, September 28, 2018. REUTERS/Chris WattieAug 2 (Reuters) - Canada's Shopify (SHOP.TO), beat Wall Street estimates for revenue in the second quarter on Wednesday, as more merchants used its online tools and targeting services to attract customers. Total revenue grew 31%, to $1.7 billion in the quarter ended June, compared with analysts' estimate of $1.62 billion, according to Refinitiv data. Gross merchandise volume - or the total value of orders facilitated through the Shopify platform - grew 17%, to $55 billion, compared to an estimate of $53.34 billion. Reporting by Yuvraj Malik and Akshita Toshniwal in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Wattie, Gross, Yuvraj Malik, Akshita, Pooja Desai Organizations: REUTERS, Wall, U.S, Thomson Locations: Ottawa , Ontario, Canada, Bengaluru

☆ Shopify forecasts solid revenue growth on higher prices, more signups
▼ + stars: | 2023-08-02 | by ( Yuvraj Malik | ) www.reuters.com time to read: +2 min

REUTERS/Chris WattieAug 2 (Reuters) - Canada's Shopify (SHOP.TO), forecast strong revenue growth and delivered better-than-expected results for the second quarter on Wednesday, helped by new signups and price increases across its services. In the third quarter, the company expects revenue growth at "low-twenties" percentage and "mid-twenties" when adjusted for changes related to the divestiture of its logistics business. Following the results, Shopify's U.S.-listed shares, which have surged nearly 80% so far this year, added 7% before settling marginally lower in extended trading. In the second quarter, total revenue grew 31% to $1.69 billion and beat analysts' average estimate of $1.62 billion. "This could be a turnaround quarter for Shopify," said Michael Schulman, chief investment officer at Running Point Capital Advisors.

Persons: Chris Wattie, We're, Harley Finkelstein, Shopify, Michael Schulman, Yuvraj Malik, Akshita, Pooja Desai, Arun Koyyur Organizations: REUTERS, Merchants, Running, Capital Advisors, Thomson Locations: Ottawa , Ontario, Canada, Shopify, U.S, Bengaluru

☆ Tinder-parent Match sees third-quarter revenue above estimates on strong user growth
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

The company forecast revenue between $875 million and $885 million for the third quarter. It posted adjusted operating income of $301 million in the second quarter, compared with market estimates of $278.5 million. Match said Tinder's "It Starts with a Swipe" campaign was crucial in lifting new user signups, particularly among young women. It also said there has been strong demand for its weekly subscription packages, which benefited Tinder's revenue. The company posted a revenue of $830 million in the second quarter, compared to analysts' estimate of $811.4 million, according to Refinitiv IBES data.

Persons: Akhtar Soomro, Tinder, Akshita Toshniwal, Akash Sriram, Pooja Desai Organizations: REUTERS, Thomson Locations: Bengaluru

☆ Arista Networks forecasts upbeat revenue as AI hype boosts cloud gear demand
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

July 31 (Reuters) - Arista Networks (ANET.N) forecast quarterly revenue above estimates after delivering better-than-expected results on Monday, supported by higher demand for its cloud networking gear following a boom in artificial intelligence (AI) applications. The third-quarter forecast underscores robust demand from customers including Microsoft (MSFT.O) and Meta Platforms (META.O) as they snap up Arista's latest 7800 series of switches designed to support AI workloads. Both Microsoft and Meta said last week they would continue investing in data center infrastructure, including networking equipment, to support functionality centered on AI. Arista sees third-quarter revenue in the range $1.45 billion to $1.5 billion, higher than analysts' estimate of $1.39 billion, according to Refinitiv data. In the second quarter ended June 30, its revenue rose 39% to $1.46 billion, beating expectations of $1.38 billion.

Persons: Meta, Akshita Toshniwal, Yuvraj Malik, Devika Organizations: Arista Networks, Microsoft, Arista, Thomson Locations: Santa Clara , California, Bengaluru

☆ Chipmakers signal supply glut easing but demand recovery still slow
▼ + stars: | 2023-07-28 | by ( Joyce Lee | ) www.reuters.com time to read: +5 min

"Demand is recovering very gradually," Woohyun Kim, chief financial officer at SK Hynix, said on an earnings call this week. "The recent improvement in PC shipments has been mainly led by promotions and low-end models, meaning it provided limited impact on chip demand recovery," he said, adding that shipment forecasts for PCs and smartphones this year have been downgraded from earlier predictions. Chipmakers are also increasing production of the high-end chips used to support AI related chips. SK Hynix said demand for AI server memory had more than doubled in the second quarter compared to the first quarter. The company leads the market in high bandwidth memory (HBM) DRAM used in generative AI.

Persons: Florence Lo, Canalys, Woohyun Kim, ChatGPT, Pat Gelsinger, SK Hynix, Logan Purk, Edward Jones, Lam, Tim Archer, 1,278.7400, Joyce Lee, Akash Sriram, Akshita, Chavi Mehta, Tanya Jain, Max A, Cheney, Stephen Nellis, Miyoung Kim, Miral Organizations: REUTERS, Intel, Samsung, SK Hynix, SK, chipmaker Texas, Wall, Manufacturers, KLA Corp, Lam Research, Thomson Locations: SEOUL, China, HBM, Seoul, Bengaluru, Max, San Francisco

☆ KLA expects first-quarter revenue above estimates on AI boom
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

July 27 (Reuters) - Chip-making tools maker KLA Corp (KLAC.O) forecast first-quarter revenue and profit above Wall Street estimates on Thursday, boosted by higher investments in artificial intelligence (AI), sending its shares up nearly 3% after the bell. KLA makes tools for inspecting the silicon wafer discs, on which semiconductors are built, for defects. The company, forecast first-quarter adjusted profit of $5.35 per share, plus or minus 60 cents. In the quarter ended June 30, revenue came in at $2.36 bln while adjusted profit was $5.40 per share. That compared with analysts' estimate for revenue of $2.26 bln and adjusted profit of $4.85.

Persons: OpenAI's ChatGPT, Bren Higgins, Akash Sriram, Akshita Toshniwal, Tanya Jain, Max A, Arun Koyyur, Cynthia Osterman Organizations: KLA Corp, Wall, Companies, Intel, Samsung, Texas Instruments, Micron, North, Thomson Locations: China, United States, Taiwan, North America, Bengaluru, San Francisco

☆ Allegion raises profit forecast on price hikes, strong demand for security systems
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +1 min

July 26 (Reuters) - Allegion (ALLE.N) raised its annual profit forecast on Wednesday after price increases and solid demand for its electric security devices helped it beat quarterly earnings estimates. "We expect end markets will be stable with continued strong demand for our electronic solutions," CEO John Stone said. Still, the weakness in the residential business prompted the company to lower the top end of its full-year revenue forecast. It now expects full-year organic revenue growth of 5.5% to 6.5%, compared with a prior forecast range of 5.5% to 7.5%. That compared with analysts' estimates for revenue of $934.7 million on profit of $1.71, according to Refinitiv IBES data.

Persons: John Stone, Allegion, Akshita Toshniwal, Shweta Agarwal Organizations: Access Technologies, Thomson

☆ Fisker to sell limited edition electric SUVs in India by fourth quarter
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +2 min

July 17 (Reuters) - U.S. startup Fisker (FSR.N) said on Monday it would produce 100 limited edition electric sports utility vehicles (SUVs) for the Indian market and expects to begin deliveries in the fourth quarter this year. The company had said in September it would begin selling its Ocean electric SUVs in India by July 2023, with local production beginning in a few years. Fisker Ocean Extreme is priced at 69,950 euros ($78,588.83), excluding taxes, in Germany. A Fisker Ocean SUV starts at $37,499 in the United States. Fisker also looks to produce its next EV, the smaller, five-seater PEAR in India with Foxconn (2317.TW).

Persons: Fisker, Akshita, Shilpi Majumdar Organizations: International Energy Agency, Magna International, Austrian, Thomson Locations: India, Germany, United States, China, U.S, Europe, Hyderabad, California, Bengaluru

☆ BlackBerry reports surprise profit on cybersecurity strength
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File PhotoJune 28 (Reuters) - BlackBerry (BB.TO) posted a surprise profit for the first quarter on Wednesday as its cybersecurity business benefited from higher client spending, while its enterprise software continued to gain traction in automotive sector. The Canadian technology company is banking on resilient demand for its cybersecurity products on rising security threats in the information technology sector. BlackBerry reported a surprise profit of 6 cents per share for the quarter ended May 31, while analysts were expecting a loss of 5 cents per share. Revenue in the cybersecurity business unit rose 5.5% sequentially to $93 million, while revenue from licensing and other services came in at $235 million, majorly comprising of proceeds from patent sale. Waterloo, Canada-based BlackBerry earlier had announced its plans to conduct a review of strategic alternatives, including possible separation of its core businesses - cybersecurity and software systems.

Persons: Dado Ruvic, Akshita, Shweta Agarwal Organizations: REUTERS, BlackBerry, Refinitiv . Revenue, Malikie Innovation, Thomson Locations: U.S, Canadian, Refinitiv ., Waterloo, Canada, Bengaluru

☆ Zoom invests in AI startup Anthropic in latest effort to spruce up offerings
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

May 16 (Reuters) - Zoom Video Communications Inc (ZM.O) said on Tuesday it has invested an undisclosed sum in Anthropic and will integrate the artificial intelligence start-up's technology into its video-conferencing platform. The move marks the latest effort by Zoom to spruce up its offerings with AI as it competes against Microsoft Teams, the dominant video-conferencing tool for enterprises. Under the collaboration, Anthropic's Claude - a large language model that competes directly with offerings from Microsoft-backed OpenAI - will be integrated with Zoom's platform. In March, Zoom had announced a partnership with OpenAI to add AI-driven capabilities such as conversation summaries and message drafts to its Zoom IQ assistant. Reporting by Akshita Toshniwal in Bengaluru and Krystal Hu; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

May 4 (Reuters) - Shopify Inc (SHOP.TO), posted a surprise first-quarter profit on Thursday and said it would lay off 20% of its workforce in a second round of mass job cuts, sending its U.S.-listed shares more than 18.7% higher in early trade. The layoffs announced on Thursday are expected to result in a severance charge of between $140 million and $150 million in the second quarter. "Combined with the reduction in force, management is showing its commitment to profitability which investors had been concerned about," Luria added. Adjusted profit was 1 cent per share, compared with expectations for a 4 cent loss. Reporting by Chavi Mehta and Akshita Toshniwal in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Shopify to cut 20% of its workforce, beats quarterly revenue estimates
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: 1 min

May 4 (Reuters) - Canada's Shopify Inc (SHOP.TO), said on Thursday it would cut 20% of its workforce, marking the Canadian e-commerce company's second round of mass layoffs. The company also beat Wall Street estimates for first-quarter revenue, sending its U.S.-listed shares up 8% in trading before the bell. The company posted revenue of $1.51 billion in the quarter ended March 31, compared with analysts' estimate of $1.43 billion, according to Refinitiv data. Reporting by Chavi Mehta and Akshita Toshniwal in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Shopify to lay off 20% of workforce, revenue tops expectations
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

Known as the e-commerce platform for small businesses, Shopify had ramped up its order fulfillment network, when it expected the pandemic-led e-commerce boom to persist. But by mid-2022, it said it had over overestimated growth levels and laid off 10% of its workforce in July. Revenue was $1.51 billion in the quarter ended March 31, topping analysts' estimates of $1.43 billion, according to Refinitiv data. The company also posted a surprise adjusted profit of 1 cent per share, compared with expectations for a 4 cent loss. Reporting by Chavi Mehta and Akshita Toshniwal in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Roku forecasts robust second-quarter revenue as some ad spending improves
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +2 min

The company's ad-supported streaming platform has gained popularity with users trying to cut down on their discretionary spending. Moreover, with streaming giants like Netflix and Disney+ adding ad-supported tiers to their services, more advertising dollars are flowing to streaming from TV. Roku added 1.6 million "active accounts" in the reported quarter from the fourth quarter. Roku expects macro uncertainties to persist throughout this year as inflation and recession fears dent consumer spending on discretionary goods. Net revenue rose 1% to $741 million in the first quarter, compared with analysts' expectations of $708.5 million.

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