Social media
Why Amazon’s digital ad business grew faster than all its rivals in the second quarter
The Amazon logo displayed on a smartphone and a PC screen. Pavlo Gonchar | LightRocket via Getty Images Social media giants Meta and Snap are telling investors that the online advertising market is experiencing some turbulence due to the economic slowdown. Amazon is sending a very different message. While the bulk of its business comes […]
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Instagram boss Adam Mosseri to move to London as Meta tries to counter TikTok’s rise
Instagram CEO Adam Mosseri Elizabeth Frantz | Reuters Instagram chief Adam Mosseri is relocating from San Francisco to London, in a bid to boost parent company Meta’s ambition to lure users away from TikTok as it grapples with a slump in users. Mosseri will move to London later this year, and the move will be […]
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Pinterest shares jump after Elliott confirms it’s the company’s largest investor
Shares of Pinterest jumped 14% Tuesday morning, a day after activist investor Elliott Management confirmed it’s Pinterest’s largest investor. The move comes despite Pinterest’s disappointing second-quarter earnings on Monday evening. “Pinterest is a highly strategic business with significant potential for growth, and our conviction in the value-creation opportunity at Pinterest today has led us to […]
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Pinterest climbs on user numbers and Elliott investment even as financials disappoint
A woman walks past sign at the headquarters of Pinterest in the South of Market neighborhood of San Francisco. Smith Collection | Gado | Archive Photos | Getty Images Pinterest shares jumped on better-than-expected user numbers even as earnings and revenue missed estimates and the company gave weak guidance for the third quarter. Activist investor Elliott […]
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Senate won’t vote on tech antitrust bill before summer recess, Klobuchar says
U.S. Senate Rules and Administration Committee Chair Sen. Amy Klobuchar (D-MN) presides during a Senate Rules and Administration Committee oversight hearing to examine the U.S. Capitol Police following the January 6, 2021 attack on the Capitol, one day before the anniversary of the attack in Washington, U.S., January 5, 2022. Elizabeth Frantz | Reuters The […]
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A decline in paying subscribers could hurt Bumble shares, Jefferies says in downgrade
Investors should keep an eye on the number paying subscribers for Bumble , according to Jefferies. Analyst Brent Thill downgraded shares of Bumble to hold from buy, expecting dwindling revenue growth, among other challenges, for the online dating company. “While our 3P data checks show an acceleration in Q2 rev and downloads for the Bumble […]
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Elon Musk countersues Twitter over merger, but details aren’t yet public
Tesla CEO Elon Musk. Patrick Pleul | AFP | Getty Images Elon Musk countersued Twitter on Friday, intensifying the conflict between the Tesla CEO and the social networking company he agreed to buy, but the lawsuit is not yet available to the public. It wasn’t clear why Musk wanted to carry out a countersuit in […]
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The Elon Musk-Twitter trial will start October 17
“The past two years have been an absolutely nightmare of supply chain disruptions, one thing after another, and we are not out of it yet,” Tesla CEO Elon Musk said. Patrick T. Fallon | Reuters Twitter and Tesla CEO Elon Musk will go to trial starting on October 17 in Delaware to resolve Musk’s attempt […]
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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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