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Roblox forecasts strong 2024 bookings; in-game spending gets holiday boost
Economic Times
·
1y ago
Medial
Gaming platform Roblox has projected annual bookings of $4.14 billion to $4.28 billion, surpassing estimates of $4.03 billion, after achieving over $1 billion in quarterly bookings for the first time. The surge in in-game spending during the holiday season contributed to this milestone. The company also reported strong Q4 results, with net bookings reaching $1.13 billion, beating expectations. Roblox's growth was primarily driven by older users above the age of 13, which reflects the platform's efforts to diversify and attract a wider player base.
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Uber bets on holiday demand after dull third quarter
Economic Times
·
1y ago
Medial
Uber is expecting strong demand during the holiday season to boost profits, surpassing analysts' expectations. The company experienced slower growth in the third quarter due to accounting changes in how it recognizes revenue. In spite of tough competition from Lyft, Uber CEO Dara Khosrowshahi remains optimistic about consumer demand, citing all-time highs in October for overall trips and gross bookings. Uber's fourth-quarter adjusted core profits are projected to be between $1.18 billion and $1.24 billion, with gross bookings ranging from $36.5 billion to $37.5 billion.
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Expedia beats profit estimates, announces $5 billion share buyback
Economic Times
·
1y ago
Medial
Online travel booking company Expedia Group has announced a $5 billion share buyback plan following a better-than-expected quarterly profit. The company experienced a boost in demand for international travel, leading to resilient demand and higher rates, which increased margins. The rise in bookings during the Independence and Labor Day holiday weekend also contributed to its strong performance. Expedia's quarterly revenue rose 8.6% to $3.93 billion, surpassing estimates of $3.86 billion. Shares of the company rose by 10% after the announcement.
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Meta’s license to spend on AI gets checked
Livemint
·
1y ago
Medial
Meta Platforms, the parent company of Facebook and Instagram, has increased its projected capital expenditures for the year by 12%, raising the upper end to $40 billion. The company aims to boost its investments in generative artificial intelligence. This spending is almost double the company's average over the past five years and is on par with projected spending by larger companies like Microsoft and Google-parent Alphabet. Meta's first-quarter revenue narrowly beat expectations, while its second-quarter revenue fell short, causing a decline in its stock price. Despite the increased spending, the company's advertising revenue and free cash flow remain strong.
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Salesforce raises annual results forecast on strong cloud spending
Economic Times
·
2m ago
Medial
Salesforce has increased its revenue and profit forecasts for fiscal 2026 due to strong cloud spending and AI monetization. Despite global economic uncertainty, enterprises are investing in AI to enhance digital infrastructure. Salesforce's AI platform, Agentforce, has captured significant deals and is expected to drive substantial future revenue. The company recently acquired Informatica for $8 billion, aiming to boost growth amid slowing organic expansion. Salesforce's revised forecast includes higher revenue and earnings per share projections.
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Digital ad sellers jump as Google, Reddit and Snap earnings indicate sturdy demand
Economic Times
·
9m ago
Medial
Shares of online ad sellers, including Google-parent Alphabet, Reddit, and Snap, saw a significant boost as their strong earnings indicated robust spending from brands in preparation for the upcoming holiday season. The three companies collectively added over $70 billion to their market capitalizations. This positive performance bodes well for other ad-dependent firms like Meta Platforms (parent company of Facebook), Amazon, and Pinterest. The digital ad market is expected to remain strong into the fourth quarter, with anticipated increases in political advertising spend and the utilization of AI-driven ad features.
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Roblox executive says children making money on the platform is ‘a gift’
The Verge
·
1y ago
Medial
Roblox, a popular gaming platform, has been criticized for allegedly exploiting its users, many of whom are children and teenagers. However, the studio head of Roblox, Stefano Corazza, argues that the platform offers opportunities for young developers to earn money and improve their lives. Third-party developers on Roblox are paid in the platform's in-game currency, Robux, which can be exchanged for cash. Roblox has also been working to address safety concerns and has engaged with legislators to contribute to the development of laws regarding online safety for children.
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Uber forecasts gross bookings for second quarter below expectations
Economic Times
·
1y ago
Medial
Uber reported weaker-than-expected first-quarter gross bookings and forecasts for its second quarter, indicating a slowdown in its ride-share and food delivery services. However, the company's profit growth initiatives have shown positive results, with first-quarter core profit surpassing Wall Street expectations. In comparison, rival Lyft reported strong results and projected a robust quarter, citing industry-wide ride-share demand growth and user-friendly features. Uber, with a wider global presence and a range of services, including logistics, expects adjusted core profit for the second quarter to be between $1.45 billion and $1.53 billion. Gross bookings are predicted to be around $38.75 billion to $40.25 billion.
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Uber forecasts upbeat second quarter on steady ride-hailing, delivery demand
Economic Times
·
3m ago
Medial
Uber forecasts robust second-quarter performance, exceeding Wall Street expectations, driven by strong demand for ride-hailing and food delivery services. The company anticipates gross bookings between $45.75 billion and $47.25 billion. Despite a 14% rise in total revenue, Uber's numbers slightly missed expectations. The firm expects second-quarter adjusted earnings between $2.02 billion and $2.12 billion. Accelerating into autonomous driving, Uber is strengthening ties with partners like Waymo, contributing to a 42% stock surge in 2023.
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Cricket-crazy fans set to add a kicker to India's economy as world cup begins
Reuters
·
1y ago
Medial
The cricket frenzy in India during the ongoing ICC Cricket World Cup is expected to give a boost to the country's economy. According to economists, World Cup-related spending could add an estimated additional output of 180-200 billion Indian rupees in the October-December quarter. Hospitality and tourism sectors are likely to benefit the most, with increased travel bookings and demand for accommodations in cities hosting key matches. However, the downside could be that more consumers will stay in to watch matches instead of spending on other entertainment options.
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CrowdStrike forecasts upbeat annual results on resilient cybersecurity spend
Reuters
·
1y ago
Medial
CrowdStrike Holdings, a cybersecurity company, has announced forecasts for its fiscal 2025 results, anticipating figures above Wall Street estimates. The company expects strong enterprise spending on cybersecurity services in response to increasing online threats. CrowdStrike, known for its unified platforms like Falcon, is predicted to benefit from improved spending trends. The company anticipates adjusted profit per share between $3.77 and $3.97 for fiscal 2025, surpassing analysts' expectations. CrowdStrike also announced the acquisition of Flow Security, a cloud data runtime security solution, further expanding its data protection offerings.
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