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Roku shares crater after company misses on earnings and warns of ‘recessionary fears’
A video sign displays the logo for Roku Inc, a Fox-backed video streaming firm, in Times Square after the company’s IPO at the Nasdaq Market in New York, September 28, 2017. Brendan McDermid | Reuters Roku shares plummeted more than 25% in extended trading on Thursday after the company missed expectations on the top and […]
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Amazon records $3.9 billion loss on Rivian investment, bringing markdown for the year to $11.5 billion
Rivian CEO RJ Scaringe and Amazon CEO Andy Jassy tour one of the company’s electric delivery vans. Amazon Amazon’s stake in electric vehicle maker Rivian Automotive was once worth $27 billion. That was in November, shortly after Rivian’s IPO, which took place just before the Nasdaq peaked. But with investors rotating out of risk in […]
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Instagram rolling back changes after Kardashians slammed the app for being like TikTok
Kris Jenner, Kendall Jenner, Kylie Jenner and Kim Kardashian on May 8, 2018 in New York City. Dimitrios Kambouris | Getty Images Entertainment | Getty Images Meta is ending a test version of its Instagram app that earned the ire of many people, including celebrity sisters Kylie Jenner and Kim Kardashian. Instagram chief Adam Mosseri […]
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Meta shares fall following disappointing earnings
Facebook Chairman and CEO Mark Zuckerberg testifies at a House Financial Services Committee hearing in Washington, October 23, 2019. Erin Scott | Reuters Shares of Meta are down nearly 7% on Thursday, a day after the company released second-quarter earnings that missed on the top and bottom lines. Meta’s revenue fell almost 1% from a […]
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Facebook lawsuit delivers on FTC chair Lina Khan’s progressive agenda
FTC Commissioner nominee Lina M. Khan testifies during a Senate Committee on Commerce, Science, and Transportation confirmation hearing on Capitol Hill in Washington, DC, April 21, 2021. Graeme Jennings | AFP | Getty Images Federal Trade Commission Chair Lina Khan’s lofty vision of bringing challenging cases to expand the bounds of antitrust enforcement is no […]
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Mark Zuckerberg says economic downturn is here, so Meta must do more with less
Meta Platforms CEO Mark Zuckerberg speaks at Georgetown University in Washington on Oct. 17, 2019. Andrew Caballero-Reynolds | AFP | Getty Images Meta Platforms CEO Mark Zuckerberg said on the company’s second-quarter earnings call Wednesday that the economy seems to be in a downturn that will hurt digital advertising, so the Facebook parent company must […]
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Meta gets new CFO as David Wehner moves to chief strategy officer role
David Wehner, CFO at Meta Harriet Taylor | CNBC Meta CFO David Wehner will take on a new role as the company’s first chief strategy officer, starting Nov. 1, according to the company’s second-quarter earnings report. Susan Li, Meta’s current vice president of finance, will be the Facebook parent’s new chief financial officer Shares of […]
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Meta reports earnings miss and forecasts second consecutive quarter of declining revenue
People take photos of the new “Meta” sign at the One Hacker Way in Menlo Park, as Facebook changes its company name to Meta in California, on October 28, 2021. Tayfun Coskun | Anadolu Agency | Getty Images Facebook parent Meta reported a steeper-than-expected drop in revenue, missed on earnings and issued a surprisingly weak […]
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FTC sues to block Facebook owner Meta from buying VR fitness app maker
Facebook CEO Mark Zuckerberg testifies before the U.S. House Financial Services Committee during An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors hearing on Capitol Hill in Washington on Oct. 23, 2019. Xinhua News Agency | Getty Images The Federal Trade Commission is suing to block Facebook-owner Meta from buying […]
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Spotify pops on revenue beat, subscriber growth
Daniel Ek, chief executive officer and co-founder of Spotify AB, stands for a photograph after a news conference in Tokyo, Japan, on Thursday, Sept. 29, 2016. Akio Kon | Bloomberg | Getty Images Spotify shares popped more than 14% on Wednesday after the company reported second-quarter 2022 earnings that beat analyst expectations on revenue and […]
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