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☆ Meta rolls out web version of Threads
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

Aug 22 (Reuters) - Meta Platforms (META.O) said on Tuesday it was launching the web version of its new text-first social media platform Threads, in a bid to retain professional users and gain an edge over rival X, formerly Twitter. Threads' users will be able to access the microblogging platform by logging-in to its website from their computers, the Facebook and Instagram owner said. Meta CEO Mark Zuckerberg said in a Threads post that the web version would reach users "over the next few days." Meta's Threads app logo is seen in this illustration taken July 4, 2023. The company will be adding more functionality to the web experience in the coming weeks, Meta said.

Persons: Mark Zuckerberg, Dado Ruvic, Meta, Yuvraj Malik, Katie Paul, Shweta Agarwal Organizations: Facebook, REUTERS, Thomson Locations: Bengaluru, New York

☆ Elon Musk's X plans to remove headlines from links to news articles
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

X is planning to remove the headline and text while retaining just the lead image from links to news articles shared on the platform, Musk said in a post late on Monday. It is not immediately clear how the move will impact advertisers on the platform that Musk claimed in July had 540 million monthly users. Currently news links come up on the timeline of users as "cards" along with an image, source address and an abridged headline. With the changes, Musk is pitching X as a more relevant platform for content creators. Premium subscribers can now post longer videos, their posts are shown higher up and they also receive a cut of ad sales.

Persons: Dado Ruvic, Elon, Musk, Yuvraj Malik, Arun Koyyur Organizations: Twitter, REUTERS, Thomson Locations: Bengaluru

☆ Bloomberg LP names Vlad Kliatchko CEO in top level overhaul - The Information
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

Former mayor of New York Michael Bloomberg speaks during a meeting with Earthshot prize winners and finalists at the Glasgow Science Center during the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 2, 2021. Alastair Grant/Pool via REUTERS/File Photo Acquire Licensing RightsAug 21 (Reuters) - Bloomberg LP is replacing CEO Michael Bloomberg with product head Vlad Kliatchko and appointing former Bank of England governor Mark Carney as its chair in a management shake-up, the Information reported on Monday, citing an internal memo. New members will be appointed to the board and existing members will become emeritus, according to the report. Thomson Reuters-owned Reuters News competes with Bloomberg News, a unit of Bloomberg L.P. Reporting by Yuvraj Malik in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: New York Michael Bloomberg, Alastair Grant, Michael Bloomberg, Vlad Kliatchko, Mark Carney, JP Zammitt, Patti Roskill, Thomson, Bloomberg L.P, Yuvraj Malik, Arun Koyyur Organizations: New York, Glasgow Science Center, Change, Bloomberg, Bank of England, Thomson Reuters, Reuters, Bloomberg News, Thomson Locations: Glasgow, Scotland, Britain, Bengaluru

☆ Meta to soon launch web version of Threads in race with X for users
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

Meta Threads app logo is seen in this illustration taken, July 6, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsAug 20 (Reuters) - Meta Platforms (META.O) is set to roll out the web version on its new text-first social media platform Threads, hoping to gain an edge over X, formerly Twitter, as the initial surge in users waned. The widely anticipated web version will make Threads more useful for power users like brands, company accounts, advertisers and journalists. Meta did not give a date for the launch, but Instagram head Adam Mosseri said it could happen soon. It will soon roll out an improved search that could allow users to search for specific posts and not just accounts.

Persons: Dado Ruvic, Meta, Adam Mosseri, Mosseri, Yuvraj Malik, Gokul, Christian Schmollinger, Arun Koyyur Organizations: REUTERS, Street, Thomson Locations: Bengaluru

☆ YouTube starts Music AI incubator with Universal Music as partner
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

[1/2] A smartphone with a displayed YouTube logo is placed on a computer motherboard in this illustration taken February 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 21 (Reuters) - YouTube is launching an incubator to work with artistes and musicians to explore the use of artificial intelligence in music, according to its blogpost on Monday. The Alphabet (GOOGL.O) unit has signed up Universal Music (UMG.AS) as its first partner for the Incubator, and will work with artistes including Anitta, ABBA's Björn Ulvaeus, and Max Ricther. The group "will help gather insights on generative AI experiments and research that are being developed at YouTube," said Mohan, adding that YouTube would bring on board more partners. YouTube said it will further invest in AI-powered technology, including evolving its copyright management tool, Content ID, to protect viewers and creators.

Persons: Dado Ruvic, ABBA's Björn Ulvaeus, Max Ricther, YouTube's, Neal Mohan, Mohan, Yuvraj Malik, Arun Koyyur Organizations: REUTERS, YouTube, Universal, Thomson Locations: Bengaluru

☆ China's Xpeng falls on dull forecast as EV price war takes toll
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +2 min

The logo on an XPeng Inc. P7 performance electric vehicle is seen outside the New York Stock Exchange in New York, U.S., August 27, 2020. The Chinese electric vehicle-maker forecast revenue of 8.5 billion yuan to 9 billion yuan for the current quarter ending September, below estimates of 9.77 billion yuan ($1.34 billion), according to the average estimate of six analysts by Refinitiv. The forecast underscores weak demand in China and intense competition following price cuts unleashed by Tesla (TSLA.O) and other home-grown automakers. In the second quarter ended June 30, Xpeng's revenue decreased 32% to 5.06 billion yuan, in line with estimates. ($1 = 7.2905 Chinese yuan renminbi)Reporting by Yuvraj Malik in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Segar, Tesla, Hongdi Brian Gu, Yuvraj Malik, Sriraj Organizations: New York Stock Exchange, REUTERS, HK, Refinitiv, Thomson Locations: New York, U.S, China, Bengaluru

☆ Microsoft to shut Xbox 360's online store next year
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +1 min

Aug 17 (Reuters) - Microsoft (MSFT.O) said on Thursday it would pull the plug on Xbox 360's online store and marketplace next year, as it focuses on its latest consoles and subscription service Game Pass. Xbox 360 Store and Xbox 360 Marketplace will be shut on July 29, 2024, and gamers using the old console will not be able to purchase and download new games, according to a post on Xbox's website. Microsoft is, however, allowing users to play with their already purchased Xbox 360 games and older titles that are compatible with the console. "A lot has changed since the Xbox 360 launched in 2005. Xbox 360 is regarded as one of the best-selling gaming consoles of all time, right up against Sony's PlayStation 3.

Persons: Yuvraj Malik Organizations: Microsoft, Technology, Sony's PlayStation, Xbox, Thomson Locations: Bengaluru

☆ OpenAI acquires start-up Global Illumination to work on core products, ChatGPT
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 16 (Reuters) - OpenAI said on Wednesday it had acquired digital products company Global Illumination, in what comes as the first known acquisition by the storied artificial intelligence firm. "The entire (Global Illumination) team has joined OpenAI to work on our core products including ChatGPT," OpenAI said. New York-based Global Illumination was founded in 2021 by Thomas Dimson, Taylor Gordon and Joey Flynn, all of whom have previously worked at Meta Platforms' (META.O) Instagram. Global Illumination most recently worked on open-source technology related to online game production. Dimson is credited with drafting some of the original code for Instagram's content ranking algorithms, according to his personal website.

Persons: Dado Ruvic, OpenAI, Thomas Dimson, Taylor Gordon, Joey Flynn, Dimson, Yuvraj Malik, Maju Samuel Organizations: REUTERS, Meta, Thomson Locations: New York, Bengaluru

☆ China's JD.com beats revenue estimates on sales amid slowing economy
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

A sign of China's e-commerce company JD.com is seen at CES (Consumer Electronics Show) Asia 2016 in Shanghai, China, May 12, 2016. REUTERS/Aly Song/File Photo Acquire Licensing RightsAug 16 (Reuters) - Chinese e-commerce firm JD.com (9618.HK), beat Wall Street estimates for second-quarter revenue on Wednesday, as its focus on lower-priced products to attract customers amid an economic slowdown paid off. Revenue grew 7.6% to 287.9 billion yuan ($39.7 billion), compared with analysts' average estimate of 278.85 billion yuan, Refinitiv Eikon data showed. After China abandoned its stringent COVID-19 lockdown policies, consumption failed to rebound immediately amid a slowdown in the country's overall economy. Recent official economic data has also been gloomy, with consumer price index tipping into deflation in July.

Persons: Aly, JD.com, Yuvraj Malik, Sophie Yu, Vinay Dwivedi, Jason Neely Organizations: CES, REUTERS, HK, Wall, Revenue, Analysts, Thomson Locations: Asia, Shanghai, China, U.S, JD.com, Bengaluru, Beijing

☆ Singapore's Sea misses Q2 revenue estimates on weak e-commerce sales
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +2 min

Southeast Asian e-commerce and gaming group Sea Ltd's sign is pictured at its office in Singapore, March 5, 2021. Tepid spending amid a challenging macroeconomic outlook pressured Sea's e-commerce business Shopee and caused a steep decline in its mobile gaming business. After a meteoric run in 2020 and part of 2021, with multiple quarters of triple-digital revenue increases, Sea's growth tapered as the pandemic-fueled boom in e-commerce and digital entertainment waned. Revenue grew over 5% from a year earlier to $3.10 billion, compared with analysts' estimate of $3.20 billion, according to Refinitiv data. E-commerce revenue, which contributes about two-thirds of the company's top-line, grew about 21% to $2.1 billion from a year earlier, but missed expectations of $2.25 billion.

Persons: Edgar Su, Sea's, Shopee, Yuvraj Malik, Krishna Chandra Organizations: REUTERS, Technology, Sea Ltd, Asia's, Revenue, Thomson Locations: Singapore, India, Europe, Bengaluru

☆ Bankrupt Lordstown Motors reaches $40 million settlement with Karma Automotive
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +1 min

Lordstown Motors and Foxconn logo is seen in this illustration taken, May 2, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoAug 15 (Reuters) - Lordstown Motors said on Tuesday it had reached a $40-million settlement with Karma Automotive over a 2020 lawsuit in which the now-bankrupt electric vehicle firm was accused of stealing proprietary technology. The settlement, placed with the bankruptcy court for approval, involves $5 million to be paid as royalty for the use of Karma's intellectual property, which Lordstown was accused of having misappropriated. That case was scheduled for trial in September before being placed on hold by Lordstown's bankruptcy. In case the settlement is not approved and the case goes to trial, Lordstown will continue to defend against Karma's claims, the filing added.

Persons: Dado Ruvic, Lordstown, Karma, Taiwan's Foxconn, Karma's, Yuvraj Malik, Shweta Agarwal Organizations: Lordstown Motors, REUTERS, Karma Automotive, Thomson Locations: . California, Bengaluru

REUTERS/Dado Ruvic/Illustration/File PhotoAug 10 (Reuters) - China's Alibaba Group Holding (9988.HK) reported its strongest quarterly revenue growth in almost two years on Thursday, boosted by a mid-year shopping festival that attracted bargain hunting consumers amid a sober economic environment. The Chinese e-commerce giant posted first-quarter revenue of 234.16 billion yuan ($32.29 billion), up 14% from the prior-year quarter which was hit by strict pandemic lockdowns. The figurebeat analysts' estimates of 224.92 billion yuan, according to Refinitiv data. Regulatory concern has eased for China's tech giants, including Alibaba, this year, with Chinese authorities keen to boost private sector confidence. (1 Chinese yuan renminbi = $0.1387)Reporting by Yuvraj Malik in Bengaluru; Editing by Shounak Dasgupta and Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Daniel Zhang, Eddie Yongming Wu, Alibaba's, Joseph Tsai, Yuvraj Malik, Shounak Dasgupta, Sharon Singleton Organizations: REUTERS, HK, Cloud Intelligence Group, Tmall, PDD Holdings, Thomson Locations: U.S, China, Alibaba, Bengaluru

☆ News firms seek transparency, collective negotiation over content use by AI makers - letter
▼ + stars: | 2023-08-09 | by ( Yuvraj Malik | ) www.reuters.com time to read: +3 min

AI (Artificial Intelligence) letters are placed on computer motherboard in this illustration taken, June 23, 2023. "Generative AI and large language models ... disseminate that content and information to their users, often without any consideration of, remuneration to, or attribution to the original creators. Services like OpenAI's ChatGPT and Google's Bard, which use the language producing generative AI, has led to a surge in online content produced by bots and several industries are assessing its impact on their businesses. Even as the technology sees wide adoption - several companies have launched features based on generative AI - governments around the world are still deliberating rules to govern its use. Meanwhile, news companies are beginning to experiment with generative AI and negotiate deals with tech companies for their content to be used to train AI models.

Persons: Dado Ruvic, Google's Bard, OpenAI, Yuvraj Malik, Katie Paul, Maju Samuel Organizations: REUTERS, News Media Alliance, European Publishers ' Council, Google, Facebook, Associated Press, American Journalism, Thomson Locations: United States, Bengaluru, New York

☆ Harlem, Pummeled by the Pandemic, Experiences a Tourism Revival
▼ + stars: | 2023-08-08 | by ( Kate King | Photographs Yuvraj Khanna For The Wall Street Journal | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/harlem-pummeled-by-the-pandemic-experiences-a-tourism-revival-f58ca260

Persons: Dow Jones Locations: harlem

☆ Lyft forecasts strong earnings as it banks on competitive pricing to chase down Uber
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

Shares of the company rose more than 12% in extended trading, after Lyft also reported higher-than-expected adjusted core profit for the April-June period. But that strategy dragged down its revenue per active user by 5% to $47.51 in the second quarter. In the quarter ending September, Lyft expects revenue in the range of $1.13 billion to $1.15 billion, higher than estimates of $1.09 billion, according to Refinitiv data. The company, which has promised profitability by 2023-end, forecast adjusted core earnings of $75 million to $85 million and a margin of 7%. Revenue grew 3% to $1.02 billion, in line with estimates, while adjusted EBITDA of $41 million was well above expectations of $27.9 million.

Persons: Dado Ruvic, Lyft, David Risher, Risher, Yuvraj Malik, Anil D'Silva Organizations: REUTERS, Uber, Revenue, Thomson Locations: Lyft, Bengaluru

☆ Apple sees sales slump continuing, shares drop 2% despite beating sales expectations
▼ + stars: | 2023-08-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +5 min

Executives said iPhone sales would improve in the fourth quarter, but did not say how much. Weaker iPhone sales were balanced by strong sales in the services segment that contains Apple TV+ and by sales in China that grew 8% year over year. That sales forecast is below analyst expectations of roughly flat fiscal fourth-quarter sales of $90.19 billion, according to Refinitiv data. Apple said iPhone sales were $39.67 billion, below analyst expectations of $39.91 billion, according to Refinitiv data. Mac and iPad sales were $6.84 billion and $5.79 billion, respectively, compared with analyst estimates of $6.62 billion and $6.41 billion, according to Refinitiv data.

Persons: Joshua Roberts, Luca Maestri, Daniel Newman, Maestri, Tim Cook, We've, We're, Cook, Apple, Jeremy Goldman, Stephen Nellis, Yuvraj Malik, Peter Henderson, Matthew Lewis Organizations: Apple Inc, REUTERS, Wall, Apple, Android, Futurum, Reuters, Research, Major League Soccer, Apple Watch, Thomson Locations: Washington , U.S, China, CHINA, San Francisco, Bengaluru

☆ Apple profit tops Wall Street targets, strong services counter weaker iPhone
▼ + stars: | 2023-08-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

Logo of an Apple store is seen as Apple Inc. reports fourth quarter earnings in Washington, U.S., January 27, 2022. IPhone sales slightly missed analyst estimates, but were made up for by strong sales in the services segment that contains Apple TV+ and by sales in China that grew 8% year over year. That helped Apple push sales in its greater China region to$15.76 billion, from $14.60 billion in last year's same quarter. Apple said iPhone sales were $39.67 billion, below analyst expectations of $39.91 billion, according to Refinitiv data. Mac and iPad sales were $6.84 billion and $5.79 billion, respectively, compared with analyst estimates of $6.62 billion and $6.41 billion, according to Refinitiv data.

Persons: Joshua Roberts, Tim Cook, We've, We're, Cook, Apple, Stephen Nellis, Yuvraj Malik, Peter Henderson, Matthew Lewis Organizations: Apple Inc, REUTERS, Apple, Reuters, Android, Big Tech, Microsoft, Google, Research, Major League Soccer, Apple Watch, Thomson Locations: Washington , U.S, China, San Francisco, Bengaluru

☆ Cloudflare raises full-year forecasts as tech spending bounces back
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

Aug 3 (Reuters) - Software firm Cloudflare (NET.N) raised its annual revenue and profit forecasts after delivering better-than-expected results for the second quarter on Thursday, sending its shares up nearly 6% in extended trading. Cloudflare now sees 2023 revenue in the range $1.283 billion to $1.287 billion, compared with its earlier forecast of $1.280 billion to $1.284 billion. It also raised its adjusted per-share profit forecast by more than 2 cents. San Francisco, California-based Cloudflare sells tools and software, grouped as content delivery network (CDN) services, that help companies manage their applications on the internet. The company forecast third-quarter revenue of between $330 million and $331 million, while analysts expect $329.4 million.

Persons: Cloudflare, Refinitiv, Yuvraj Malik, Pooja Desai Organizations: Companies, Thomson Locations: San Francisco , California, Bengaluru

☆ X social media looking to build a trading hub inside app, Semafor reports
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

'X' logo is seen on the top of the headquarters of the messaging platform X, formerly known as Twitter, in downtown San Francisco, California, U.S., July 30, 2023. REUTERS/Carlos Barria/File PhotoAug 3 (Reuters) - X social media platform, formerly known as Twitter, is seeking a financial data giant to build a trading hub inside the app, Semafor reported on Thursday, citing people familiar with the matter and plan requests. In a post on the X platform, its owner Elon Musk said he was not aware of any work being done in this area. loadingLast year, Musk said he bought Twitter as an "accelerant to creating X", which he described as an "everything app" and likened it to China's super-app WeChat. Musk last month rebranded the social media site and changed Twitter's widely recognised blue bird to "X".

Persons: Carlos Barria, Elon Musk, Musk, Chavi Mehta, Tanya Jain, Yuvraj Malik, Arun Koyyur Organizations: REUTERS, Twitter, Thomson Locations: San Francisco , California, 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

☆ Major global firms warn of slow China sales as post-pandemic surge fades
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +4 min

Aug 2 (Reuters) - From consumer goods giant Unilever (ULVR.L) to automaker Nissan (7201.T) and machinery maker Caterpillar (CAT.N), global firms have warned of slowing earnings in China as the world's second-largest economy loses its post-pandemic bounce. A continued rebound has been limited to a handful of sectors such as dining and luxury goods, driving double-digit China sales growth for the likes of Starbucks (SBUX.O) and LVMH (LVMH.PA). Volkswagen (VOWG_p.DE) cut its full-year sales target last week due to a sales dip in China, its top market. "Unfortunately, our (China) sales outlook is now falling far below our production capacity," Nissan CEO Makoto Uchida said last week. "We mentioned during our last earnings call that we expected sales in China to be below the typical 5% to 10% of our enterprise sales.

Persons: Graeme Pitkethly, we're, Makoto Uchida, Jim Umpleby, Jacob Stausholm, Louis Vuitton, Tiffany, Jean, Jacques Guiony, Mimosa Spencer, Sophie Yu, Brenda Goh, Richa Naidu, Melanie Burton, Daniel Leussink, Victoria Waldersee, Miranda Murray, Rishav Chatterjee, Deborah Sophia, Ananya Mariam Rajesh, Yuvraj Malik, Miyoung Kim, Christopher Cushing Organizations: Unilever, Nissan, Caterpillar, Starbucks, Procter, Gamble, L'Oreal, Global, Volkswagen, Samsung, SK Hynix, Apple, Rio Tinto, Tinto, Yum, HK, KFC, Kailyn, Thomson Locations: China, KS, Rio, Yum China, Kailyn Rhone, New York, Paris, Beijing, Shanghai, London, Melbourne, Tokyo, Victoria, Berlin, Bengaluru

☆ Electronic Arts misses quarterly bookings expectations, forecast weak
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

EA (Eletronic Arts) Sports logo is seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/IllustrationAug 1 - Videogame publisher Electronic Arts (EA.O) missed booking estimates for its first quarter on Tuesday, hurt by competition from other franchise-based games and muted spending by gamers. Its shares fell 4.5% to $130.25 in extended trading as the company posted net bookings of $1.58 billion in the quarter ended June 30, compared with Refinitiv estimates of $1.59 billion. EA forecast second-quarter net bookings in the range $1.70 billion to $1.80 billion, also below analysts' estimate of $1.81 billion. Reporting by Yuvraj Malik in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Harry Potter, Yuvraj Malik, Pooja Desai Organizations: EA, Eletronic, REUTERS, Electronic Arts, Warner Bros Discovery, Thomson Locations: Bengaluru

☆ Apple heads for largest Q3 revenue drop since 2016 as iPhone sales slow
▼ + stars: | 2023-08-01 | by ( Yuvraj Malik | ) www.reuters.com time to read: +4 min

The world's most valuable firm will wrap up Big Tech earnings on Thursday, with a likely 1.6% drop in total quarterly revenue, according to Refinitiv - its steepest drop in third-quarter revenue since 2016. IPhone sales likely fell more than 2% in the period, according to 24 analysts polled by Visible Alpha, compared with a near 3% increase a year earlier and a 1.5% rise in the quarter ended March. IPHONE SLOWDOWNMuch of the weakness in iPhone sales is expected to come from the Americas, where revenue is set to fall 6%, analysts said. "If there is any sales weakness from China, it is likely to be easily offset by strong sales momentum in India," they added. Mac and iPad sales are expected to fall by 10.6% and 11.2%, respectively, according to Refinitiv data.

Persons: Andrew Kelly, Bob O'Donnell, Apple, Fargo, Piper Sandler, Yuvraj Malik, Sayantani Ghosh, Maju Samuel Organizations: Apple, REUTERS, Big Tech, Alpha, Microsoft, TECHnalysis Research, Bloomberg, Nasdaq, International Data Corp, Reuters, Thomson Locations: Manhattan , New York City, U.S, Americas, China, India, Bengaluru

☆ Monolithic Power forecasts weak quarter on semiconductor woes
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +1 min

July 31 (Reuters) - Monolithic Power Systems (MPWR.O) forecast current-quarter revenue slightly below estimates on Monday, signaling weakness in some areas of the semiconductor industry, sending the company's shares down 4% in after-market trading. The maker of circuit-level power solutions sees revenue between $464 million and $484 million for the quarter ending Sept. 30. The midpoint of the range came in below the $473.5 million estimate, according to Refinitiv data. Kirkland, Washington-based Monolithic Power sells power solutions used in cloud computing, and telecom, automotive, industrial applications. Sales to storage and computing customers, the largest end-market for Monolithic Power, grew 1.8% to $124.5 million.

Persons: Yuvraj Malik, Maju Samuel Organizations: Systems, Thomson Locations: Kirkland , Washington, Bengaluru

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