Tag Archives: quarter

Amazon’s Year-End Finish Strong, But Weaker Projections for Next Quarter

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Amazon exceeded Wall Street’s expectations by earning revenue in the fourth quarter of 2024, but it anticipates a decline in the coming quarter.

Finishing the year on a high note, the retail giant reported $187.79 billion in revenue and $1.86 per share, surpassing analysts’ revenue estimates of $187.3 billion and $1.49 per share.

The robust revenues reflect a strong holiday shopping season, with online spending increasing by 8.7% year-on-year in November and December, according to Adobe Analytics. Overall, consumers spent $241 billion over the two-month period, as reported by Adobe.

“The holiday shopping season was Amazon’s most successful ever. We are grateful for the support of our customers, sales partners, and employees who contributed to this success,” stated Andy Jassy, Amazon’s CEO. Read the full statement.

Despite beating expectations, Amazon fell short of analyst sales estimates for the next quarter. The company forecasts sales between $151 billion and $15.5 billion, while analysts had estimated $15.85 billion. Stock prices dropped after hours but recovered to previous levels the following day.

Wall Street has acknowledged Amazon’s cost-cutting measures in recent years. Jassy implemented layoffs and cuts across various departments, resulting in a positive financial impact on Amazon’s revenue.

During the revenue announcement, Jassy highlighted Amazon’s new innovations, particularly in artificial intelligence, such as the new AI chip Trainium2. Jassy emphasized the practical benefits of these technologies in the evolving tech landscape.

Amazon’s executive chairman, Jeff Bezos, has reconciled with Donald Trump after years of criticism. Amazon contributed $1 million to the president’s inaugural fund, and Bezos was present at Trump’s swearing-in ceremony.

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Jassy followed Trump’s lead by scaling back Amazon’s DEI efforts, and Bezos withdrew support for the Climate Change and Biodiversity Fund.

Source: www.theguardian.com

Apple surpasses Wall Street expectations in first quarter revenue and plans to launch iPhone sales in China.

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Apple exceeded analysts’ expectations in the first quarter of the 2025 fiscal year on Thursday. The company’s revenue increased by 4% to $124.3 billion, slightly higher than the projected $124.2 billion. Earnings per share were $2.40, beating the forecast of $2.35.

Following CEO Tim Cook’s announcement of the revenue, Apple’s shares surged by more than 8% in after-hours trading as the company is on track for revenue growth next year.

Investors expressed concerns about declining iPhone sales in China, the world’s largest smartphone market, with domestic competitors like HUAWEI gaining ground. Apple confirmed this on Thursday, reporting an 11.1% drop in iPhone sales in China, missing Wall Street’s revenue expectations.

During the earnings call, Cook mentioned Apple’s active device base of 2.35 billion.

Despite the mixed reviews, Cook hailed it as the company’s “best quarter” with a 4% profit increase. Cook highlighted the introduction of Apple Intelligence, which debuted for English-speaking iPhone users in late October. The AI feature has seen strong sales and impacted numbers positively, including in China.

Investors have closely monitored Apple’s progress in AI, which has been slower compared to competitors and has garnered a range of reviews. Despite initial anticipation, the technology has been criticized for inaccuracies and glitches.

During the earnings call, Cook assured analysts that AI technology would become mainstream. Apple Intelligence is currently exclusive to new devices in a limited number of countries, and adoption has been gradual. Cook emphasized the transformative nature of the feature once users experience it.

Apple’s earnings report came amidst a challenging week for high-tech stocks in the US. Following the presence of a Chinese AI company’s app on Apple’s App Store, several tech companies experienced declines. Despite initial setbacks, recoveries were observed in subsequent trading days.

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Apple seems to be shielded from the recent stock market turbulence, with its stock rising earlier in the week. Analysts believe Apple’s focus on integrating AI into its products enables cost efficiency compared to developing cutting-edge models.

Despite initial struggles in 2025, Apple’s stock had dropped by about 8% in the first three weeks of the year, primarily due to concerns about declining smartphone sales in China.

Apple Intelligence had faced glitches and generated inaccurate push notifications. In response to feedback, Apple ceased the feature earlier this month. A recent iOS update now explicitly states when notifications are AI-generated.

Source: www.theguardian.com

Tesla Observes Decrease in Car Delivery and Unfortunate 4th Quarter Revenue

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After the US stock market closed, Tesla released its fourth-quarter 2024 revenue on Wednesday, showing a decrease in sales for the year but a strong stock price performance.

The automotive company reported earnings of $0.73 per share and a profit of $257 billion, lower than Wall Street analysts’ predictions of $27.222 billion. Profit also declined compared to the previous year.

Tesla’s stock dropped by around 4% after the news.

During the revenue call on Wednesday, Tesla CEO Elon Musk announced the Tesla Saber Cub, an autonomous driving taxi set to be produced in 2026. The company also mentioned a delay in release and the launch of the Robotaxi business, with plans for an advanced version of the Model Y sedan to be released in March. Tesla is currently under federal investigation for the use of complete autonomous driving functions in the US.

“This is not a fantasy,” Musk stated. “2025 will be a crucial year for Tesla.”

Recently, Tesla became the world’s top electric manufacturer in the last quarter of 2023, regaining its top spot in the first three quarters of 2024. This success was attributed to a sudden price reduction.

In the revenue report, Tesla disclosed 495,570 deliveries in the fourth quarter and 1.8 million for the year, marking its first year-over-year decline after missing delivery targets in 2024.

The reduction of European subsidies for electric vehicles has impacted Tesla, leading to a 24% drop in Tesla vehicle sales. Some Wall Street analysts predict that lower interest rates set by the US Federal Reserve could boost Tesla demand.

Last year, Tesla’s disappointing delivery numbers highlighted delays in new model releases and a lack of demand for older models, like the cyber truck priced at $80,000.

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Facing legal battles over his compensation, Musk had threatened to leave the company but ultimately remained. Tesla’s stock price has soared over the past year and has gained 75% in the last six months, buoyed by Musk’s relationship with US regulators and favorable business environment.

Despite threats of tariffs on various products from China, including cars, Tesla remains optimistic about future growth.

Source: www.theguardian.com

Deepseek Mania: Meta to Report Strong 4th Quarter Revenue

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Meta finally reported its fourth-quarter earnings more than 30 minutes after the market closed on Wednesday, exceeding Wall Street’s predictions. The company posted revenue of $483 billion and profit per share of $6.75, topping analysts’ expectations of $46.9 billion and $6.75 per share.

Mark Zuckerberg, Meta’s founder and CEO, expressed his excitement for expanding initiatives in 2025.

The day before, Meta’s stock surged nearly 40% after an internal memo revealed record sales and earnings.

Zuckerberg told analysts, “This will be a significant year, and our long-term initiatives will become clearer by the end of the year.”


A report in the Wall Street Journal revealed that Donald Trump signed an agreement for Meta to pay $25 million to settle a lawsuit filed in 2021 after banning him following the January 6 attack.

Meta did not provide revenue guidance for 2025 but expects first-quarter revenue to be between $39.5 billion and $41.8 billion.

In a Press Release, Meta announced increased investment in AI infrastructure for 2025 and analysts expressed concern over revenue projections.

Meta also announced plans to develop personalized AI assistants, highlighting Meta AI as the most used virtual assistant.

Analysts remain optimistic about Meta AI despite competitors like DeepSeek gaining traction in China.

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Analysts compared DeepSeek with Meta’s AI models and Microsoft’s earnings were reported on the same day as Meta.

Concerns were raised regarding Meta’s decision to remove third-party fact-checking programs, with analysts emphasizing the importance of brand safety and user trust.

Despite criticism, Zuckerberg defended the changes, stating that community notes would enhance information accuracy on the platform.

Meta’s CFO Susan Lee affirmed strong advertiser demand despite content policy changes and the announcement of layoffs.

As Meta faces challenges and changes, analysts predict a momentum shift in the company’s performance in 2025.

Zuckerberg hinted at potential growth opportunities on Instagram and Facebook as Meta explores new possibilities amid industry shifts.


A leadership shake-up in Reality Labs was reported, with Meta reevaluating its focus on core business areas under new leadership.

Source: www.theguardian.com

Dyson Ltd plans to lay off over a quarter of its workforce in the UK.

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Dyson, a maker of vacuum cleaners and air purifiers, will be reducing its UK workforce by more than a quarter by cutting around 1,000 jobs as part of a global restructuring effort. Employees were informed of the job cuts on Tuesday morning, which is part of a larger initiative to cut 15,000 jobs worldwide.

The company, famous for its bagless vacuum cleaners, hand dryers, and bladeless fans, currently employs 3,500 people in the UK across offices in Wiltshire, Bristol, and London. The decision to make these cuts was made before the announcement of the general election in May.

These job cuts were announced on the same day that Commerce and Trade Minister John Reynolds held a conference call with 170 business and industry leaders to discuss priorities and answer questions.

Dyson’s CEO, Hanno Kilner, stated that the company operates in a highly competitive global market where innovation and change are accelerating rapidly, requiring them to be agile and entrepreneurial. While growth is a priority, the company regularly reviews its global structure to ensure it is prepared for the future, even though job cuts are “always very painful.” Kilner promised support for those affected by the cuts.

Founded in 1991 by inventor Sir James Dyson in Malmesbury, Wiltshire, Dyson conducts the majority of its product research, development, and design in the UK. The UK will remain the primary research and development base for the company, with Malmesbury housing the Dyson Laboratory.

In Asia, Dyson faces competition from local rivals and has seen the importance of Asian supply chains and customers grow. In 2019, Dyson moved its headquarters to Singapore in response to this shift. The company has expanded from vacuum cleaners to other products like hair dryers, fans, and air purifiers, and has plans to launch robotics products in the future.

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Dyson paid a dividend of 1.2 billion pounds to its founder’s Singapore-based holding company two years ago. The company has earned a total of 4 billion pounds from its tech companies over the past five years. Dyson’s founder is one of the wealthiest businessmen in Britain, with an estimated fortune of £20.8 billion as of May.

In December, Dyson lost a libel lawsuit against the Daily Mirror’s publishers after being accused of hypocrisy for supporting Brexit before moving the company’s headquarters to Singapore.

Source: www.theguardian.com

Despite price cuts, Tesla experiences second consecutive quarter of sales decline

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Despite price cuts and low-interest financing offers, Tesla’s global sales have declined for two consecutive quarters, indicating weakening demand for its products and electric vehicles in general.

The company, based in Austin, Texas, reported sales of 436,956 vehicles from April to June, a 4.8% decrease from the same period last year. While this beat analyst expectations of 436,000 units, the demand for electric vehicles is slowing globally, with Tesla facing more challenges due to its older model lineup and higher prices.

Despite the decline, Tesla remains the top-selling electric car maker in the world, selling over 910,000 cars in the first half of the year. The company also managed to sell more vehicles than it produced in the second quarter, leading to reduced inventory levels.

Tesla’s sales decline comes amidst increased competition from other automakers, both established and emerging, aiming to gain market share in the EV industry. The company is set to report second-quarter earnings on July 23.

While sales were primarily driven by the Model 3 and Model Y, the more expensive models like the X, S, and new Cybertruck saw limited sales. Price cuts introduced by Tesla in April did not prevent the sales decrease, with the company also reducing the price of its “full self-driving” system during the quarter.

Analysts attribute Tesla’s sales challenges to the saturation of early adopters owning EVs and skepticism among mainstream buyers about EV capabilities. The company’s minimal model lineup changes and price cuts leading to decreased used car prices have impacted its sales performance.

Analyst Dan Ives views the second-quarter sales as a positive turnaround for Tesla, suggesting that the company’s cost-cutting measures have improved its profitability. While Tesla expects slower revenue growth this year, the outlook for the company seems optimistic following the recent sales performance.

Source: www.theguardian.com

Microsoft’s AI investment yields higher returns than expected in the latest quarter

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Microsoft’s significant investment in artificial intelligence continues to yield positive results, surpassing Wall Street expectations in the latest quarter.

Tech giants have poured billions into AI to boost the growth of cloud computing services, resulting in a more than 20% increase in cloud computing revenue.

According to Microsoft CEO Satya Nadella, the company’s AI tools are ushering in a new era of AI transformation, delivering enhanced business outcomes across various industries.

Nadella highlighted the accelerated integration of AI into Microsoft’s software and services, noting significant upticks in deals within the Azure cloud computing business, along with the introduction of Copilot AI software add-ons for small and medium-sized businesses.

Microsoft’s total revenue for the third quarter of fiscal 2024 rose by 17% to $61.86 billion, exceeding analysts’ projections. Earnings per share also increased by 20% to $2.94.

Following the positive earnings report, Microsoft’s shares saw a 4% rise in after-hours trading on Thursday.

With a market value close to $3 trillion, Microsoft remains the largest publicly traded company globally. The company’s stock price has grown by over 30% in the past year.

Microsoft’s strategic investments include acquiring ChatGPT developer OpenAI, positioning itself as a key player in the AI landscape and attracting industry talent.

The company is now focusing on leveraging its strong position in AI, as evidenced by AI contributing 6% to Azure’s revenue growth in the final months of 2023.

In addition, the integration of AI features into LinkedIn has boosted engagement on the platform, leading to a revenue increase of 10%.

Microsoft has secured notable AI deals, including a significant partnership with Coca-Cola for AI and cloud computing services, underscoring the company’s commitment to advancing AI technologies.

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Source: www.theguardian.com

Getaround’s Third Quarter Results Encourage Investors, but the Company Still Faces Challenges

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peer-to-peer car sharing company Moving filed its first earnings report since going public a year ago Via SPAC combination. The company’s third-quarter earnings report details that while revenue is growing rapidly, it still doesn’t generate enough sales to cover expenses.

Getaround reported gross bookings of $69 million in the third quarter, resulting in revenue of $23.8 million in the period, up from $16.7 million in the year-ago period. In the first nine months of 2023, Getaround’s revenue reached his $54 million.

But while Getaround’s reported 42% year-over-year revenue growth in the third quarter has been well-received by investors, who have sent the stock up 75% in after-hours trading at the time of writing, the company is not. Still out of the forest.

Getaround’s operating expenses in the third quarter were worth $42.9 million, compared to the equivalent of $128 million for the first three quarters of this year, both numbers significantly higher than its gross profit for both periods. Still, Getaround has made some progress on the profitability front. In the third quarter, the company had a net GAAP loss of $27.3 million, an improvement of 16% from the third quarter of 2022 report. Using a more generous profit calculation, Get Around remained unprofitable in the latest quarter, with his adjusted EBITDA reported at -$11.3 million. Over the three-month period, it improved by 43% year-over-year.

Getaround is targeting gross bookings in the range of $200 million to $205 million for the full year of 2023. The company did not disclose revenue targets for this year, but third-quarter revenue reflects an annual run rate of more than $95 million. Getaround expects its 2023 adjusted EBITDA loss to be in the range of $68 million to $70 million.

Getaround ended the third quarter with $22.1 million in cash and cash equivalents. This number is a significant departure from the $64.3 million reported in cash and equivalents at the end of the third quarter of 2022. The company got some good news in the form of a $3 million infusion from Madrick Capital. Madrick Capital has an existing $15 million note with the company, which was expanded to provide a little more headroom for the getaround.

Getaround stock closed regular trading at about $0.17 on Thursday, ahead of the release of third-quarter data.

Rebuilding

Getaround is working to clean up its cost base, including reducing the company’s workforce. 10% of staff In February, the company announced that it would cut costs by $25 million to $30 million a year to achieve sustainability. The layoffs came a day after Getaround was declared a state of emergency. Delisting Notice from the New York Stock Exchange This is because the stock price was trading too low.

Now that the stock price has risen significantly following the earnings report, GetAround is still worth less than $1 per share, meaning it is still at risk of being delisted.Several SPAC combinations were executed reverse stock split This is probably why earnings per share have remained in the 100 yen range.

Getaround has also received other delisting notices for failing to timely file annual and quarterly reports. The company has not filed its 2022 annual report and just filed its third quarter earnings report. Getaround has not yet filed its first and second quarter results. The company says it will need more time to complete the audit and has now completed it.

Getaround CEO Sam Zaid told TechCrunch: Mr. Zaid would not comment on whether GetAround would seek a reverse stock split to boost its stock price.

car sharing companies too Acquires assets of startup HyreCar This will increase Getaround’s operating costs in the short term. Getaround hopes the scale provided by the acquisition will help accelerate its path to profitability.

This article has been updated with information from Getaround’s CEO.

Source: techcrunch.com