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Singapore's Grab misses quarterly revenue estimates, shares drop

Economic Times

Economic Times · 12m ago

Singapore's Grab misses quarterly revenue estimates, shares drop

Grab Holdings, a Southeast Asian tech company, reported lower-than-expected revenue for the second quarter due to slower growth in its food delivery business and currency fluctuations. The deliveries business, its largest segment, experienced 11% growth, while ride-share revenue grew by 14%. Grab cited weakening Southeast Asian currencies against the US dollar as a contributing factor to the revenue shortfall. Despite the challenges, Grab remains optimistic about its future prospects, particularly in travel. The company maintained its full-year revenue forecast and expects revenue growth to accelerate beyond 2024 as investments in new products pay off.

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Snap misses revenue estimate, shares plunge 30%

Economic Times

Economic Times · 1y ago

Snap misses revenue estimate, shares plunge 30%

Snap missed Wall Street estimates for quarterly revenue, causing its shares to plummet by 30%. The struggle to compete with larger rivals such as Facebook and Google for digital advertising revenue has raised concerns about Snap's ability to capitalize on the market. Despite a healthy advertising market, Snap has not demonstrated its ability to leverage it effectively. The company plans to focus on serving advertisers seeking sales and website clicks rather than just brand awareness. Snap's user growth remains stagnant in North America, while Europe saw only a modest increase. The company expects its daily active users to reach 420 million and forecasts first-quarter revenue between $1.1 billion and $1.14 billion. However, Snap's disappointing results caused its shares to drop significantly.

SentinelOne misses quarterly profit estimates, shares fall

Economic Times

Economic Times · 8m ago

SentinelOne misses quarterly profit estimates, shares fall

SentinelOne, a cybersecurity company, reported breakeven earnings for the third quarter, falling short of analyst expectations of a 1 cent profit per share. The company's shares dropped over 12% in after-hours trading. SentinelOne faces stiff competition from larger rivals such as Palo Alto Networks and CrowdStrike, who have also reported strong quarterly results. Despite missing profit estimates, SentinelOne raised its fiscal 2025 revenue forecast and expects fourth-quarter revenue to be $222 million, slightly above market estimates. The company's third-quarter revenue of $210.6 million surpassed expectations.

GameStop misses revenue estimates on slow videogame demand, competition

Economic Times

Economic Times · 1y ago

GameStop misses revenue estimates on slow videogame demand, competition

GameStop fell short of quarterly revenue estimates due to increased competition and reduced consumer spending amid economic uncertainty. The company reported Q3 revenue of $1.08 billion, missing estimates of $1.18 billion. This comes as the gaming industry faces challenges with uneven spending. GameStop's shares dropped nearly 3% in extended trading. The results are the first since Ryan Cohen joined as CEO and chairman in September, steering GameStop towards e-commerce but also focusing on brick-and-mortar stores. The company managed adjusted breakeven earnings per share and reduced expenses by nearly 24% to $296.5 million.

Microsoft shares slide 5% as cloud forecast, AI spending disappoint

Economic Times

Economic Times · 6m ago

Microsoft shares slide 5% as cloud forecast, AI spending disappoint

Microsoft's cloud computing business forecast fell short of expectations, causing its shares to drop by 4.5%. Despite beating quarterly sales estimates, concerns linger over high spending in AI and competition from cheaper Chinese models. Azure's growth projections are below expectations, with revenue growth missing estimates. Microsoft's capital expenditures exceeded expectations, and the rise of Chinese AI models like DeepSeek has heightened price war fears. Investors seek assurance on the monetization of significant AI investments.

Carlyle's quarterly profit misses estimates as private equity business weighs

VCCircle

VCCircle · 5m ago

Carlyle's quarterly profit misses estimates as private equity business weighs

Carlyle Group's quarterly profit fell short of market expectations due to a 24.1% decline in earnings from its private equity business. The shortfall resulted from reduced asset sale proceeds, causing shares to drop 6.1%. Distributable earnings were $384 million, or 92 cents per share. Carlyle anticipates reduced declines in private equity by 2025. Meanwhile, credit-related earnings increased, bolstering total assets under management to $441 billion, with capital markets performing well.

Tesla misses estimates for quarterly deliveries; shares fall

Economic Times

Economic Times · 1y ago

Tesla misses estimates for quarterly deliveries; shares fall

Tesla reported Q3 deliveries of 435,059 vehicles, missing market estimates and causing its shares to drop by 3.7%. The automaker cited planned factory shutdowns as a reason for the decline. Despite the miss, Tesla maintained its target to deliver 1.8 million vehicles this year. Some analysts believe factory upgrades could lead to a rebound in Q4 deliveries. Tesla also cut prices for certain models in the quarter. The company will report its Q3 financial results on October 18.

Paramount misses quarterly revenue estimates as weak ad market offsets streaming gains

Reuters · 1y ago

Paramount misses quarterly revenue estimates as weak ad market offsets streaming gains

Paramount Global, the media conglomerate behind streaming platform Paramount+, reported weaker-than-expected quarterly revenue due to intense competition from streaming rivals and a weak advertising market. Despite adding 4.1 million subscribers during the quarter, the company fell short of analysts' revenue estimates. Paramount expects to achieve domestic profitability for Paramount+ by 2025. The company's direct-to-consumer unit, which includes Paramount+ and PlutoTV, saw a 34% growth in revenue, while its filmed entertainment business experienced a 31% decline. The results come amidst ongoing consolidation in the entertainment industry.

Oracle misses quarterly results estimates on stiff cloud competition

Economic Times

Economic Times · 8m ago

Oracle misses quarterly results estimates on stiff cloud competition

Oracle's second-quarter revenue fell short of expectations due to fierce competition in the database and cloud services market. The company's shares dropped over 7% in after-hours trading as it faces tough competition from Microsoft and Amazon. Despite reporting a 9% increase in revenue, Oracle missed estimates, causing concerns among analysts about its future growth. Oracle has been partnering with cloud hypervisors like Microsoft Azure and Amazon Web Services to gain market share, but analysts believe it will remain a distant fourth in the hyperscaler market. The company aims to exceed $25 billion in cloud revenue by 2025.

Spotify forecasts profit below estimates on higher taxes, shares sink - The Economic Times

Economic Times

Economic Times · 11d ago

Spotify forecasts profit below estimates on higher taxes, shares sink - The Economic Times

Spotify's profit forecast fell below estimates due to increased taxes on staff salaries, causing shares to drop nearly 9%. Despite strong demand for premium plans, revenue and profit guidance missed expectations, though user growth exceeded forecasts. Spotify expanded its share buyback program to $2 billion to boost investor confidence. The company faces stiff competition from rivals like Apple and Amazon, leading to increased marketing expenses. Revenue rose but fell short of estimates due to unfavorable currency movements.

Oracle shares soar as AI cloud demand propels revenue forecast

Economic Times

Economic Times · 1m ago

Oracle shares soar as AI cloud demand propels revenue forecast

Oracle shares rose nearly 8% in premarket trading following an increase in its annual revenue forecast, attributed to growing demand for AI-related cloud services. The company expects total revenue to reach at least $67 billion by fiscal 2026. Oracle's cloud services' quarterly revenue increased by 14% to $11.70 billion, surpassing overall revenue estimates. Analysts highlight Oracle's renewed popularity driven by cloud innovations, positioning it competitively against Microsoft and Amazon in the software sector.

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