(Reuters) -Microsoft topped quarterly revenue expectations on Wednesday on strong Azure cloud-computing growth, reassuring investors that its hefty AI investments were paying off and sending shares in the company more than 6% higher in after-hours trading. The results are likely to ease concerns about a potential slowdown in AI demand, after some analysts pointed to…
(Reuters) -Retail trading platform Robinhood’s first-quarter profit more than doubled and beat analysts’ estimates, driven by a surge in trading volumes from clients looking to hedge their positions amid choppy markets. The company’s transaction-based revenue, or income generated from fees for facilitating trading in options, cryptocurrency and equities, jumped 77% in the quarter. Majority of…
By Laila Kearney NEW YORK (Reuters) -Google will fund the training of tens of thousands of new U.S. electricians, the company told Reuters on Wednesday, as Big Tech wades deeper into the country’s power industry on its hunt for the massive amounts of electricity needed for its AI expansion. A lack of access to power…
(Reuters) – E-commerce firm eBay said on Wednesday that its Chief Financial Officer Steve Priest will step down in May and will be replaced by Peggy Alford, who was a vice president at PayPal. EBay beat market expectations for quarterly revenue and also forecast second-quarter revenue above estimates, bolstered by stable demand for products such…
ZURICH (Reuters) -Computer mouse and keyboards maker Logitech International on Tuesday reported weaker-than-expected fourth-quarter earnings. Logitech said its non-GAAP operating profit fell to $133 million in the three months to the end of March, missing analysts’ estimate of $134 million. The company’s figures were not affected by U.S. President Donald Trump’s hike in trade tariffs,…
(Reuters) -AI server maker Super Micro Computer said on Tuesday it cut expectations for third-quarter revenue and profit, blaming a delay in customer spending, sending shares down more than 16% in extended trading. It now expects revenue in a range of $4.5 billion to $4.6 billion, down from its earlier expectations of $5 billion to…
(Reuters) – Starbucks posted a bigger-than-expected drop in quarterly global comparable sales on Tuesday, as demand remained sluggish for its pricey coffees in the United States amid rising macroeconomic uncertainty. Total same-store sales declined 1% in the second quarter, compared with analysts’ average estimate of a 0.26% fall, according to data compiled by LSEG. “Our…
(Reuters) -Visa beat Wall Street estimates for quarterly profit on Tuesday, as the world’s largest payment processor benefited from a steady rise in card payment volumes and announced a $30 billion share repurchase plan. Payments volume — a gauge of overall consumer and business spending on Visa’s network — jumped 8% in the second quarter….
By Zaheer Kachwala and Aditya Soni (Reuters) -IBM will invest $150 billion in the U.S., including on facilities for quantum computer production, over the next five years, the latest American technology company to back the Trump administration’s push for local manufacturing. The company’s announcement on Monday follows similar pledges by tech giants such as Nvidia…
By Arriana McLymore, Greg Bensinger NEW YORK (Reuters) -Amazon’s Prime Day is losing its luster among a critical group: sellers. Some third-party merchants who previously sold China-made goods during Amazon’s premier July shopping event are sitting it out this year or reducing the amount of discounted merchandise they offer. The planned pullback, which hasn’t been…
