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☆ Databricks in talks to raise funds at $43 billion valuation, Bloomberg reports
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +1 min

Aug 25 (Reuters) - Databricks, a data analytics platform using artificial intelligence, is in discussions with T. Rowe Price about a new funding round that would value the company at $43 billion, Bloomberg News reported on Friday. These private discussions are at a preliminary stage and could fall apart, the report said, citing two people familiar with the matter. If the round is successful, the San Francisco-based startup's valuation would be considerably higher than the $38 billion it reached two years ago in funding led by Counterpoint Global, according to the Bloomberg. Databricks offers a software platform in the cloud that companies can use to analyze data. Databricks declined to comment, while T. Rowe Price did not immediately respond to a Reuters request for a comment.

Persons: Rowe Price, Jaspreet Singh, Maju Samuel Organizations: Bloomberg, Counterpoint, Databricks, Thomson Locations: San Francisco, Bengaluru

☆ Intuit forecasts robust annual profit; shares dip on weak consumer group outlook
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

The company forecast Consumer Group growth of 7% to 8% for the financial year ending July 2024. "The Consumer Group guidance for FY24 is lighter than expected," Morningstar analyst Julie Sharma said. Intuit's main products include QuickBooks, TurboTax, Credit Karma, and Mailchimp among others, that serve more than 100 million customers by managing a wide range of accounting services. "We were expecting slightly better Credit Karma results," said Sharma, adding it appears that challenges regarding loans were worse than she expected. The company expects annual revenue between $15.89 billion and $16.11 billion, compared with market estimate of $15.99 billion.

Persons: Morningstar, Julie Sharma, Sharma, Jaspreet Singh, Shailesh Organizations: Intuit, Wall, Consumer, Consumer Group, Thomson Locations: TurboTax, View , California, Bengaluru

☆ Snowflake beats quarterly estimates on strong demand for data management services
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

Shares of the company rose more than 3% in trading after the bell. The Bozeman, Montana-based company's revenue rose about 36% to $674 million for the quarter ended July 31, above analysts' average estimate of $662.2 million, according to Refinitiv data. Excluding items, the second-quarter adjusted profit per share was 22 cents, compared with analysts' average estimate of 10 cents. Snowflake's second-quarter product revenue rose 37% to $640.2 million, above market estimates of $623 million. The company forecast third-quarter product revenue in the range of $670 million to $675 million, compared with analysts' average estimate of $670.8 million, according to Refinitiv data.

Persons: Brendan McDermid, Frank Slootman, Snowflake, Jaspreet Singh, Krishna Chandra Organizations: Snowflake Inc, New York Stock Exchange, REUTERS, Nvidia, Thomson Locations: New York, U.S, Bozeman , Montana, Bengaluru

☆ Apple endorses California bill on 'Right to Repair'
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +1 min

The Apple Inc. logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar/File Photo Acquire Licensing RightsAug 23 (Reuters) - Apple (AAPL.O) urged members of the California legislature to pass the "right to repair bill" or "Senate Bill 244" as currently drafted, in a letter on Tuesday, which requires manufacturers to allow customers to fix damaged devices. The iPhone maker's move is a reversal from its years-long opposition towards access to repairs as the act would require electronic device makers to provide tools for repairing damaged appliances. "We support "SB 244" because it includes requirements that protect individual users' safety and security as well as product manufacturers' intellectual property," Apple said in the letter. Reporting by Jaspreet Singh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Segar, Apple, Jaspreet Singh, Krishna Chandra Organizations: Apple Inc, Apple, REUTERS, Thomson Locations: Manhattan , New York, U.S, California, Bengaluru

☆ Netflix signups remain high, fueled by password-sharing crackdown - data
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

The Netflix logo is shown on one of their Hollywood buildings in Los Angeles, California, U.S., July 12, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing RightsAug 23 (Reuters) - Signups for Netflix (NFLX.O) in the United States remain elevated despite a fall from June's record high after the video-streaming pioneer's crackdown on shared passwords came into effect in May, according to data from research firm Antenna. Netflix had said last year it was going to limit account-sharing and was testing various approaches in some markets. This has led analysts to expect that about 50 million users will ultimately create their own accounts. The research firm sources its streaming data from transaction records such as online purchase receipts and banking information.

Persons: Mike Blake, Walt Disney's, Max, Jaspreet Singh, Akash Sriram, Pooja Desai Organizations: Netflix, REUTERS, Amazon, Warner Bros, Reuters, Thomson Locations: Los Angeles , California, U.S, United States, Bengaluru

☆ NYSE suspends trading of WeWork warrants, to start delisting them
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

WeWork logos are seen at a WeWork office in San Francisco, California, U.S. September 30, 2019. WeWork, which earlier this month warned about its ability to stay afloat, added that the company's common shares will continue to trade on the NYSE. WeWork had received a non-compliance notice from the NYSE in April, as its stock closed below $1 on average over a consecutive 30 trading-day period. In its efforts to regain listing compliance, WeWork last week had said it would proceed with a one-for-forty reverse stock split. WeWork's shares have lost almost all its value since it went public with an equity value just shy of $9 billion in 2021.

Persons: Kate Munsch, WeWork, recoiled, Adam Neumann, Jaspreet Singh, Shailesh Organizations: REUTERS, New York Stock Exchange, NYSE, Thomson Locations: San Francisco , California, U.S, WeWork's, Bengaluru

☆ Zoom forecasts current-quarter profit above estimates on strong enterprise demand
▼ + stars: | 2023-08-21 | by ( Jaspreet Singh | ) www.reuters.com time to read: +2 min

The Zoom Video Communications logo is pictured at the NASDAQ MarketSite in New York, New York, U.S., April 18, 2019. Zoom expects third-quarter revenue between $1.115 billion and $1.120 billion for the quarter, compared with analysts' average estimate of $1.13 billion, according to Refinitiv data. Excluding items, the company posted second-quarter profit of $1.34 per share, compared with target estimate of $1.05. Second-quarter enterprise revenue of the company rose 10.2% to $659.5 million. Zoom raised its annual revenue forecast to between $4.49 billion and $4.50 billion, compared with its earlier forecast of between $4.47 billion and $4.49 billion.

Persons: Carlo Allegri, Needham, Ryan Koontz, Webex, Koontz, Kelly Steckelberg, Zoom, Jaspreet Singh, Krishna Chandra Organizations: NASDAQ, REUTERS, Communications, Wall, Revenue, Thomson Locations: New York , New York, U.S, San Jose , California, Bengaluru

☆ Zoom forecasts current-quarter profit above estimates
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: 1 min

The Zoom Video Communications logo is pictured at the NASDAQ MarketSite in New York, New York, U.S., April 18, 2019. REUTERS/Carlo Allegri/file photo Acquire Licensing RightsAug 21 (Reuters) - Zoom Video Communications (ZM.O) forecast third-quarter profit above Wall Street estimates on Monday, a positive sign for the company that has tried to overcome a post-pandemic slowdown by offering a wider range of collaboration tools. The San Jose, California-based company expects profit per share between $1.07 and $1.09 for the quarter, above analysts' average estimate of $1.03 per share, according to Refinitiv data. Reporting by Jaspreet Singh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlo Allegri, Jaspreet Singh, Krishna Chandra Organizations: NASDAQ, REUTERS, Communications, Wall, Thomson Locations: New York , New York, U.S, San Jose , California, Bengaluru

☆ Tesla shares gain as Baird Equity adds stock to 'best ideas' list
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +2 min

The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsAug 21 (Reuters) - Electric-vehicle maker Tesla's (TSLA.O) shares rose 4.5% on Monday, snapping a six-session losing streak, after brokerage Baird Equity Research added the stock to its "best ideas" list. Bearish investors will point to lower production, said Baird, but added Tesla was still on pace to achieve its production forecast of 1.8 million vehicles this year. Tesla sparked a price war earlier this year and last week slashed prices of three models in China. Reporting by Akash Sriram and Jaspreet Singh in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Arnd, Baird, Tesla, Rivian, Akash Sriram, Jaspreet Singh, Krishna Chandra Organizations: REUTERS, Equity Research, stoke, Apple, Ford Motor, Thomson Locations: Bern, Switzerland, China, Bengaluru

☆ Cybersecurity firm Palo Alto projects strong annual billings, shares rally
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +2 min

Aug 18 (Reuters) - Palo Alto Networks (PANW.O) forecast annual billings above market estimates on Friday, in a sign that more businesses were turning to its integrated cybersecurity offerings to combat rising digital threats. Palo Alto projected full-year billings to be between $10.9 billion and $11.0 billion, compared with the Visible Alpha consensus estimate of $10.80 billion. Shares of Santa Clara, California-based Palo Alto have declined around 17% since it set Friday as its earnings date earlier this month — a move some analysts termed as "head scratching". Its fourth-quarter revenue grew about 26% to $1.95 billion, roughly in line with analysts' expectations, according to Refinitiv data. Palo Alto expects annual adjusted profit per share to be between $5.27 and $5.40, compared with analysts' expectations of $4.98.

Persons: billings, Nikesh Arora, Jaspreet Singh, Shilpi Majumdar Organizations: Palo Alto Networks, Palo Alto, platformization, Global, Palo, Software Technologies, Thomson Locations: billings, Santa Clara , California, Alto, Bengaluru

REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsAug 17 (Reuters) - Semiconductor equipment maker Applied Materials (AMAT.O) on Thursday forecast its fourth-quarter profit would be substantially higher than analyst estimates, as chip demand picks up and governments spend billions on subsidies. Applied reported third-quarter revenue of $6.43 billion, beating analysts' average estimate of $6.16 billion, according to Refinitiv data. Applied finance chief Brice Hill said that despite overall lower chip equipment spending this year, the company's services business would continue to grow. For its company's semiconductor systems unit, which supplies gear to chip makers, third-quarter revenue slipped roughly 1% to $4.68 billion. Samsung Electronics (005930.KS), Taiwan Semiconductor Manufacturing Co (2330.TW), and Intel Corp (INTC.O) use the company's advanced chip production tools.

Persons: Dado Ruvic, Gary Dickerson, Brice Hill, Jaspreet Singh, Max A, Shinjini Ganguli, David Gregorio, Jamie Freed Organizations: REUTERS, Semiconductor, Applied, Lam Research, KLA, Samsung Electronics, Taiwan Semiconductor Manufacturing, Intel Corp, Thomson Locations: Santa Clara , California, China, Bengaluru, Max, San Francisco

☆ Applied Materials forecasts upbeat fourth quarter
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

A smartphone with a displayed Applied Materials logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsAug 17 (Reuters) - Semiconductor equipment maker Applied Materials (AMAT.O) forecast fourth-quarter results above market estimates on Thursday on strong demand from chipmakers setting up new manufacturing plants, sending its shares up 3% after the bell. Governments across the globe have in the past year doled out billions of dollars in subsidies to boost domestic chip manufacturing, which benefited companies such as Applied Materials and KLA (KLAC.O) whose tools are essential in chip making. Santa Clara, California-based Applied Materials expects revenue of $6.51 billion in the fourth quarter, plus or minus $400 million, compared with analysts' average estimate of $5.86 billion, according to Refinitiv data. It expects adjusted profit per share between $1.82 and $2.18, above market estimate of $1.61.

Persons: Dado Ruvic, Jaspreet Singh, Shinjini Organizations: REUTERS, Semiconductor, Applied, Materials, Thomson Locations: Santa Clara , California, Bengaluru

☆ Elon Musk's SpaceX turns profit in first quarter as revenue soars - WSJ
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Joe Skipper/File Photo Acquire Licensing RightsAug 17 (Reuters) - Elon Musk-owned SpaceX's surging revenue helped it turn a small profit in the first quarter of 2023 after two annual losses, the Wall Street Journal reported on Thursday, citing documents. The company generated $55 million in profit on $1.5 billion in revenue during the January-to-March period, according to the report. In 2022, revenue doubled to $4.6 billion, helping the company reduce its loss last year to $559 million from $968 million, the WSJ reported. The company reported about $5.2 billion in total expenses for 2022, up from $3.3 billion the year earlier, according to the report. SpaceX's first-quarter results are preliminary, while annual results are final, the WSJ reported, citing the documents.

Persons: Joe Skipper, Elon Musk, Walt Disney, SpaceX's, Jaspreet Singh, Anil D'Silva Organizations: SpaceX, Cape Canaveral Space Force, REUTERS, Wall Street, Intel, WSJ, Thomson Locations: Cape Canaveral , Florida, U.S, Bengaluru

☆ Synopsys names insider Ghazi as CEO
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: 1 min

A man walks through the Synopsys booth during the Black Hat information security conference in Las Vegas, Nevada, U.S. on July 26, 2017. REUTERS/Steve Marcus/File photo Acquire Licensing RightsAug 16 (Reuters) - Synopsys (SNPS.O) said on Wednesday Sassine Ghazi will join as president and chief executive from Jan. 1 next year, taking over from CEO Aart de Geus who will move to the role of executive chair of board of directors. Reporting by Jaspreet Singh in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Persons: Steve Marcus, Sassine Ghazi, Aart de Geus, Jaspreet Singh Organizations: REUTERS, Thomson Locations: Las Vegas , Nevada, U.S, Bengaluru

☆ OpenAI says AI tools can be effective in content moderation
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 15 (Reuters) - ChatGPT creator OpenAI made a strong case for the use of AI in content moderation, saying it can unlock efficiencies at social media firms by speeding up the time it takes to handle some of the grueling tasks. OpenAI, which is backed by Microsoft, said its latest GPT-4 AI model can reduce the process of content moderation to a few hours from months and ensure more consistent labeling. "The process (of content moderation) is inherently slow and can lead to mental stress on human moderators," OpenAI said. "With this system, the process of developing and customizing content policies is trimmed down from months to hours." Separately, OpenAI CEO Sam Altman said on Tuesday that the startup does not train its AI models on user-generated data.

Persons: Dado Ruvic, OpenAI, Sam Altman, Jaspreet Singh, Anil D'Silva Organizations: REUTERS, Microsoft, Google, Facebook, Thomson Locations: Bengaluru

☆ Factbox: SoftBank-owned Arm courts Big Tech interest in its IPO
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: 1 min

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/IllustrationAug 11 (Reuters) - SoftBank Group-owned chip designer Arm is getting investment interest from several major tech firms for what is expected to be one of this year's biggest initial public offerings. Arm has been in talks with about 10 companies, including Amazon.com (AMZN.O), Intel (INTC.O), Alphabet (GOOGL.O) and Nvidia (NVDA.O), about investments ahead of its IPO. Here is a list of companies that could be anchor investors in the IPO -Compiled by Jaspreet Singh and Zaheer Kachwala in Bengaluru; Edited by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Jaspreet Singh, Zaheer Kachwala, Shounak Dasgupta Organizations: REUTERS, SoftBank, Intel, Nvidia, Thomson Locations: Bengaluru

☆ Digital World extends deadline for merger with Donald Trump's media company
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

Former U.S. President and Republican presidential candidate Donald Trump speaks during a campaign rally in Windham, New Hampshire, U.S., August 8, 2023. REUTERS/Reba SaldanhaAug 9 (Reuters) - Digital World Acquisition (DWAC.O) and former U.S. President Donald Trump's media company on Wednesday extended the deadline for their merger by over three months to Dec. 31, as they work to close the deal that has been delayed by regulatory scrutiny. The move comes weeks after blank-check firm DWAC settled fraud charges with the U.S. securities regulator, clearing some of the uncertainty over its merger with Trump Media & Technology Group (TMTG) - the parent company of the Truth Social app. The firm, which originally struck a deal to merge with TMTG in October 2021, had in June extended the deadline to Sept. 8. The company in July named Eric Swider as its new CEO after ousting Patrick Orlando in March.

Persons: Donald Trump, Reba Saldanha, Donald Trump's, DWAC, Eric Swider, Patrick Orlando, Jaspreet Singh, Anil D'Silva Organizations: U.S, Republican, REUTERS, Trump Media & Technology, TMTG, U.S . Securities, Exchange Commission, Thomson Locations: Windham , New Hampshire, U.S, Bengaluru

☆ Akamai Technologies forecasts upbeat third-quarter revenue, profit
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

The Cambridge, Massachusetts-based company forecasts revenue to be between $937 million and $952 million for the quarter ending Sept. 30, compared with analysts' average estimate of $931 million, according to Refinitiv data. The company expects adjusted profit per share for the third quarter to be between $1.48 and $1.52, while analysts estimated $1.41. Akamai also raised its full-year revenue forecast to between $3.77 billion and $3.80 billion, compared with its prior projection of $3.74 billion to $3.79 billion. Security and compute revenue, which formed 59% of the company's total revenue in the quarter, grew 14% over the year earlier, the company said. Excluding items, the company's profit per share was $1.49, compared with analysts' expectations of $1.41.

Persons: Akamai, Rishi Jaluria, Jaluria, Zaheer Kachwala, Jaspreet Singh, Shilpi Majumdar Organizations: Akamai Technologies, Wall, RBC Capital Markets, U.S . Department of Labor, Census Bureau, Department of Defense, eBay, Electronic Arts, Thomson Locations: Cambridge , Massachusetts, Bengaluru

☆ Google, Universal Music in talks for deal on AI 'deepfakes' - FT
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +1 min

Universal Music Group logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration/FILE PHOTOAug 8 (Reuters) - Alphabet's (GOOGL.O) Google and Universal Music (UMG.AS) are in talks to license artists' voices and melodies for artificial intelligence-generated songs, Financial Times reported on Tuesday, citing four people familiar with the matter. The music industry is grappling with "deepfake" songs, made using generative AI, that mimic artists' voices, often without their consent. Discussions between Google and Universal Music are at an early stage and no product launch is imminent, while Warner Music (WMG.O) is also in talks with Google about a product, the report added. Reporting by Jaspreet Singh in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Jaspreet Singh, Shinjini Organizations: Universal, REUTERS, Google, Financial, Warner Music, Thomson Locations: Bengaluru

☆ Chipmaker Skyworks sees profit below estimates on weak demand
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

Aug 7 (Reuters) - Apple supplier Skyworks Solutions (SWKS.O) on Monday forecast fourth-quarter profit below Wall Street estimates as demand for wireless connected devices from customers outside the artificial intelligence (AI) industry remains gloomy. Apple (AAPL.O) - Skyworks' largest customer - last week predicted its sales would fall for a fourth straight quarter, dragged down by weak demand for its flagship device. Chipmaker Skyworks said it expects fourth-quarter adjusted earnings of $2.10 per share, slightly below market estimates of $2.11 per share, according to Refinitiv data. It anticipates fourth-quarter revenue between $1.19 billion and $1.24 billion, the mid-point of which was in-line with analysts' average estimates of $1.22 billion. Excluding items, Skyworks posted profit of $1.73 per share in the third quarter ended June 30, above estimates of $1.70, according to Refinitiv data.

Persons: Chipmaker Skyworks, Skyworks, Jaspreet Singh, Shinjini Organizations: Apple, Skyworks, Wall, Thomson Locations: Bengaluru

☆ Motorola forecasts upbeat revenue on robust security solutions demand
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

Aug 3 (Reuters) - Motorola Solutions (MSI.N) on Thursday raised its full-year revenue and profit forecasts on robust demand for the telecommunications equipment provider's integrated security solutions. The Chicago-based company now expects full-year revenue in the range of $9.88 billion to $9.90 billion, compared with its previous expectations of $9.73 billion to $9.78 billion. Motorola projected third-quarter adjusted profit in the range of $2.99 to $3.04 per share, compared with estimates of $3 per share. Second-quarter adjusted net income attributable to Motorola solutions stood at $458 million, compared with $354 million a year ago. The U.S. government and home office of the United Kingdom are the largest customers of Motorola Solutions.

Persons: Greg Brown, Jaspreet Singh, Maju Samuel Organizations: Motorola Solutions, Motorola, Thomson Locations: Chicago, U.S, United Kingdom, Bengaluru

☆ Gen Digital beats first-quarter revenue estimates on uptick in demand
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

Aug 3 (Reuters) - Cybersecurity firm Gen Digital (GEN.O) beat revenue estimates for the first quarter on Thursday, as demand for its antivirus software like Avast, Norton and Avira rose, sending shares surging 3.7% in trading after the bell. Demand for cybersecurity software has soared in the wake of continuously evolving cyber threats, privacy concerns and soaring hacking activity, as users expand their digital footprints. Revenue in the first quarter grew 34% to $946 million, slightly above analysts' average estimate of $945.4 million, according to Refinitiv data. The company earned adjusted profit per share of 47 cents, above analysts' average estimate of 46 cents. Gen Digital expects fiscal year 2024 revenue to be in the range $3.8 billion to $3.85 billion, the midpoint of which is slightly below analysts' average estimate of $3.85 billion, according to Refinitiv data.

Persons: Vincent Pilette, Jaspreet Singh, Pooja Desai Organizations: Digital, Norton, Gen Digital, Thomson Locations: Bengaluru

☆ Cognizant projects revenue above estimates, CFO to retire in 2024
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/IllustrationAug 2 (Reuters) - Cognizant Technology Solutions (CTSH.O) forecast third-quarter revenue above estimates on Wednesday as more businesses turn to the IT services provider to digitize their operations, sending its shares up more than 6% after the bell. The company also said CFO Jan Siegmund would retire in early 2024. The New Jersey-based company expects current-quarter revenue of between $4.89 billion and $4.94 billion, compared with analysts' estimates of $4.86 billion, according to Refinitiv data. The company now expects full-year adjusted profit per share in the range of $4.25 to $4.48, compared with an earlier estimate of between $4.11 and $4.34. The company reported adjusted profit of $1.10 per share, compared with estimates of 99 cents.

Persons: Dado Ruvic, Jan Siegmund, Ravi Kumar S, Jaspreet Singh, Devika Organizations: REUTERS, Technology Solutions, TCS, Accenture, Revenue, Thomson Locations: The New Jersey, Bengaluru

☆ Pinterest delivers revenue beat on digital ad market rebound
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

A keyboard is placed in front of a displayed Pinterest logo in this illustration taken February 21, 2023. REUTERS/Dado Ruvic/IllustrationAug 1 (Reuters) - Image-sharing platform Pinterest (PINS.N) beat second-quarter revenue estimates on Tuesday as monthly active users surged and digital advertising rebounded from a downturn triggered by an uncertain economy. Pinterest's revenue for the quarter ended June 30 grew 6% to $708 million, compared with market estimates of $696.1 million, according to Refinitiv data. Global monthly active users (MAUs) on the platform rose 8% to 465 million from a year ago, above estimates of 462.8 million. Pinterest earned a quarterly adjusted profit of 21 cents per share, compared with 11 cents a year ago.

Persons: Dado Ruvic, Pinterest, Jaspreet Singh, Devika Organizations: REUTERS, Tech, Meta, Global, Thomson Locations: Bengaluru

☆ Dell expands 'Project Helix' with Nvidia to provide generative AI solutions
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: 1 min

[1/2] The Dell logo is seen on an item for sale in a store in Manhattan, New York City, U.S., November 24, 2021. REUTERS/Andrew KellyJuly 31 (Reuters) - Dell Technologies (DELL.N) on Monday launched new generative artificial intelligence (GenAI) solutions in collaboration with Nvidia (NVDA.O) whose chips enable the technology behind OpenAI's ChatGPT. The tools will help businesses to build GenAI models and are an expansion of Dell's Project Helix, which was launched in May. Reporting by Jaspreet Singh in Bengaluru; Editing by Shweta AgarwalOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, OpenAI's, Jaspreet Singh, Shweta Agarwal Organizations: REUTERS, Dell Technologies, Monday, Nvidia, Thomson Locations: Manhattan , New York City, U.S, Bengaluru

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