By Vansh Agarwal (Reuters) -Bumble Inc beat estimates for first-quarter revenue on Thursday as user spending on its eponymous dating app remained strong despite a looming recession, sending the company’s shares up 7% in aftermarket trading. The parent company of Bumble, Badoo, and Fruitz, benefited from strong user growth during the quarter as more people…
By Hannah Lang (Reuters) -Block Inc posted a rise in first-quarter revenue on Thursday as its popular payments platform Cash App continued to drive growth, a metric investors will watch closely following U.S. short-seller Hindenburg Research’s disclosure in March of short positions in the firm. Shares of Block, formerly called Square, were up more than…
(Reuters) – Booking Holdings Inc reported a better-than-expected profit for the first quarter on Thursday, as the online travel agency benefited from pent-up demand that drove consumers to book flights and hotels despite worries of an imminent recession. Shares of the company rose 1% to $2,630.5 after the bell. Major players in the hospitality industry…
By Raphael Satter and Christopher Bing (Reuters) – Hacker sabotage has disrupted several public services in Dallas, closing courts and knocking emergency services websites offline, officials said on Thursday. Courts were closed Wednesday and will remain closed Thursday, the City of Dallas said in a series of statements posted to the web. Although the statements…
By Alexander Marrow MOSCOW (Reuters) – Already Russia’s dominant lender, state-owned Sberbank has become one of the country’s leading technology players, taking on an increasingly important role as sanctions and exiting rivals create gaps only a handful of firms can fill. Once a Soviet savings behemoth, Sberbank’s image has gradually been transformed under CEO German…
WASHINGTON (Reuters) – U.S. Vice President Kamala Harris on Thursday told the chief executives of tech companies including Microsoft and Google they have a “legal responsibility” to ensure the safety of their artificial intelligence products. Harris and President Biden are open to advancing new regulations and supporting new legislation on artificial intelligence, she said. The…
(Reuters) – Tens of thousands of people are descending on Omaha, Nebraska to attend the annual shareholder weekend for billionaire investor Warren Buffett’s Berkshire Hathaway Inc. Buffett, 92, and Vice Chairman Charlie Munger, 99, are due to answer about five hours of shareholder questions at Berkshire’s annual meeting on Saturday. The meeting will be broadcast…
(Reuters) -Qualcomm Inc’s shares sank 7% on Thursday after the chip designer signalled it would take longer for its crucial smartphone market to rebound from a post-pandemic slump. The company, which supplies to top handset makers Apple Inc and Samsung Electronics, was set to lose about $10 billion in market valuation, if the losses hold….
By Zeba Siddiqui and Christopher Bing SAN FRANCISCO/WASHINGTON (Reuters) – A Miami-based digital marketing firm was behind a series of covert political influence operations in Latin America over the last year, Facebook-owner Meta said this week, a rare exposé of an apparent U.S.-based misinformation-for-hire outfit. Predictvia, which is registered as a business in Florida, says…
PARIS (Reuters) -France’s antitrust watchdog on Thursday gave Facebook-owner Meta two months to change its access rules for ad verification partners, saying the company was potentially taking unfair advantage of a dominant market position in online advertising. In a statement, the competition authority said Meta must publish new access criteria for partners seeking to use…
