Tesla profits drop 55%, company says EV sales ‘under pressure’ from hybrids

Tesla profits fell 55% to $1.13 billion in the first quarter from the same year-ago period as a protracted EV price-cutting strategy and “several unforeseen challenges” cut into the autom

Bumble cuts ~350 employees as dating apps face a reckoning

Bumble, a once-powerful force in online dating, is facing a reckoning. The company posted weak Q4 2023 results today showing a $32 million net loss and $273.6 million in revenue. While up from the sam

Lucid Motors will only build 9,000 EVs in 2024 after once predicting it would ship 90,000

Lucid Motors plans to build just 9,000 electric vehicles in 2024, only 500 to 1,000 more than it made in 2023, as it struggles with demand for its luxury sedans. If it sticks to that number, that mean

Rivian lays off 10% of workforce as EV pricing pressure mounts

Rivian is laying off 10% of its salaried workforce in a bid to cut costs in an increasingly tough market for electric vehicles, putting even more pressure on its future, more affordable EV called the

Coinbase cites stablecoins, Base as key 2024 priorities after crushing Q4 estimates

After disclosing better-than-expected financial results in its fourth-quarter earnings report, U.S.-based Coinbase has big plans. The second-largest crypto exchange told its investors that it intends

Following this week’s layoffs, Snap’s stock tanks 30% after announcing Q4 earnings

Snap is not having a good quarter. Following this week’s news that the company was laying off 10% of its workforce, amounting to hundreds of employees, the company’s stock is now crashing

Spotify now the No. 2 audiobook provider, behind Audible, hints at Daylist inspired-suggestions to come

Late last year, Spotify began offering 15 hours of monthly audiobook listening to its Premium subscribers in select markets, including the U.S. Now the company says the new service is the second-large

Sundar Pichai says Google One cloud storage service has nearly 100M subscribers

Google CEO Sudar Pichai said that the company’s Google One cloud storage service is ” just about to cross” 100 million subscribers. Speaking during Alphabet’s Q4 2023 earnings

Tesla says EV sales growth may be ‘notably lower’ in 2024

Tesla’s strategy to drive sales through price cuts combined with the cost of bringing the Cybertruck into production and other R&D expenses put pressure on profits in the fourth quarter, acc

Getaround’s Q3 earnings delight investors, but the company isn’t out of the woods yet

Peer-to-peer carsharing company Getaround has filed its first earnings report since going public a year ago via a SPAC combination. The company’s third-quarter earnings report details a company seei

Lyft picks comfort over sharing in bid to compete with Uber

Lyft is introducing a “more affordable sort of higher-end ride” in an attempt to offer ride-hail products that customers actually want, CEO David Risher said Wednesday during the company&#

Rocket Lab’s Electron launch vehicle ‘fully’ booked next year, will resume flight as early as November-end

Rocket Lab is best known for the Electron launch vehicle, but the company’s earnings results continue to show that it is much more than a rocket company. The company reported $68 million in revenue

Lyft’s price war with Uber yields mixed results

Lyft’s strategy of slashing ride-hail fares to compete with Uber has resulted in slow and steady gains for the company, but competition remains fierce.  According to Lyft’s third-quarter earnings

Rivian raises production forecast for 2023, narrows losses in Q3

Rivian continued to close the gap on losses, reduce costs and ramp up production in the third quarter with results that beat Wall Street expectations and suggested a rosier future, including raising

Uber’s Q3 numbers include impressive profitability gains, slower-than-expected growth

The former startup darling's results can be viewed as an indication that its business model has matured and is now in a stable, profitable and cash-generating position.

Coinbase’s Q3 revenue beat expectations, but its shares fell as growth prospects underwhelmed

The most bearish thing we can summon is that Coinbase is skating atop a wave of rising interest-based incomes.

Ford delays $12B in EV investments as automaker wrestles with demand

Ford is delaying about $12 billion in planned investments on EVs, including construction of a second battery plant with joint venture partner SK On due to softening demand for higher priced premium el

Meta says users and businesses have 600 million chats on its platforms every day

Meta is doubling down on business messages for revenue generation, as Mark Zuckerberg indicated during the company’s earnings call for Q3 2023. Zuckerberg said that the company is looking to tap

Google is actively looking to insert different types of ads in its generative AI search

Google confirmed on its earnings call that it is working on different ad formats for its generative AI-powered search experience — Google shared some ideas earlier this year and the mention in the e

Lowering costs nets Salesforce a profitable quarter, but can it keep it up?

Salesforce had a better quarter than expected, but it's reporting and forecasting those results based on prior work, to a real degree.
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