Tag Archives: revenue

Temu UK Doubles Revenue and Pre-Tax Profits in E-Commerce

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The UK branch of Chinese online marketplace Temu saw its revenue and pre-tax profits double last year, as UK shoppers increasingly turned to products from ultra-budget retailers.

Temu UK’s revenue reached $63.3 million (£46.4 million) last year, nearly doubling the $32 million from 2023, with pre-tax profits climbing from $2 million to $3.9 million.

Nonetheless, on the operating front, the company—registered as Whaleco UK with Companies House—reported an increase in losses from $7.9 million to $8.7 million compared to the prior year. The majority of its operating loss was attributed to “exchange losses.”

Given Temu’s modest pre-tax profit, the company contributed just $985,000 in UK corporate tax, a rise from $517,000 in 2023.

Similar to Amazon UK and Google UK, Temu’s UK operations report revenues as “service fees,” indicating that it generates revenue “through the provision of corporate support services to affiliated entities.”

While Temu experiences rapid growth in the UK, the company, alongside others like cheap fast-fashion rivals and e-commerce giant Amazon, may have to raise prices following the government’s review of tax regulations in April, which would allow small parcels to qualify for UK tax exemptions.

Current laws permit international retailers to ship parcels to the UK valued under £135 without incurring import taxes. UK retailers argue that these regulations provide unfair advantages to businesses like Temu and Shein.

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Earlier this year, Theo Paphitis indicated that retail groups—including Ryman and Robert Dyas—were contravening the measure, suggesting that the retail group would encompass Ryman and Robert Dyas.

As of August 29th, the US has already initiated steps to remove the “minimum” exemption for parcels valued under $800.

On Wednesday, the head of luxury retailer Fortnum & Mason stated that this situation would significantly elevate the costs of goods, such as high-end teas, purchased by US consumers.

In July, European Union Attorney General Michael McGrath expressed dismay at the hazardous nature of some products offered by companies like Shein and Temu.

With 12 million low-value parcels being shipped daily within the EU from online retailers outside the bloc, McGrath has committed to tightening restrictions on the sale of products that blatantly violate the law.

The EU is also contemplating the elimination of the €150 (£130) tax-free threshold and the introduction of handling fees for each parcel.

Source: www.theguardian.com

Nvidia and AMD Allegedly Set to Contribute 15% of China’s Chip Sales Revenue to the US

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Nvidia and AMD have made a groundbreaking agreement to allocate 15% of their revenue from chip sales in China to the US government, a deal aimed at securing a semiconductor export license. The Financial Times reported on Sunday.

This revenue-sharing initiative includes Nvidia’s H20 chips and AMD’s Mi308 chips, with details emerging from US officials indicating that the Trump administration is yet to determine the allocation of these funds.

An anonymous official stated that the chipmakers consented to this Quid Pro Quo arrangement as a prerequisite for obtaining a Chinese export license last week.


According to export management specialists, this marks the first time US companies have agreed to a revenue-sharing model in exchange for export licenses, as reported by the newspaper. Donald Trump has reportedly encouraged these firms to invest in the US to “offset” the tariffs imposed.

In a statement to Reuters, an Nvidia spokesperson mentioned, “We haven’t shipped H20 to China for months, but we are optimistic that export control regulations will enable us to compete globally.”

AMD did not provide an immediate response to inquiries for comment.

Last week, the US Department of Commerce commenced the issuance of licenses to NVIDIA for the export of H20 chips to China, removing a significant barrier to entering key markets.

In July, the US overturned an earlier ban on the sale of H20 chips to China. Nvidia had specifically modified its microprocessors for the Chinese market to align with the Biden administration’s AI chip export regulations.

Nvidia’s chips are pivotal in driving the current AI surge, and the company became the first to surpass a market valuation of $4 trillion in July.

However, Nvidia faces growing scrutiny from Chinese regulatory bodies, with challenges likely to persist. Recently, China’s Cyberspace Watchdog summoned Nvidia to clarify concerns regarding a potential “backdoor” security risk that might grant remote access or control over the chip. Nvidia refuted these claims.

Nonetheless, concerns have been echoed in Chinese state media. Earlier this month, it was reported that officials stated Nvidia needs to furnish “persuasive security proofs” to assuage worries over security risks for Chinese users and regain trust in the market. Additionally, the WeChat national media account highlighted potential security risks posed by the H20 chip, suggesting the possibility of “remote shutdown” features via a hardware “backdoor.” Nvidia has yet to respond to these allegations.

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Source: www.theguardian.com

Uber Sees 14% Revenue Growth Despite Financial Concerns

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Uber seems to be boosting the global economy, despite concerns that consumers are moving away from vehicle use and delivery services.

The company announced on Wednesday that its revenue reached $11.5 billion in the last quarter. This marks a 14% increase from the previous year, slightly below what Wall Street analysts anticipated. Total bookings also climbed 14% to $42.8 billion, meeting expectations.

Investors are keen to understand the impact of President Trump’s recent tariffs on Uber’s growth trajectory. While the company’s core business is minimally affected by customs duties, a sluggish economy could deter customers from spending on rides and deliveries.

Nonetheless, Uber forecasts that bookings will rise between 16% and 20% in the current quarter, surpassing Wall Street’s 14% estimate. In a statement, CEO Dara Khosrowshahi remarked on the strong start to the year, despite “a dramatic backdrop of trade and economic news.”

Uber’s profit for the quarter was $1.8 billion, a significant turnaround from a loss of $654 million in the same quarter last year, which included a $721 million impact from the revaluation of an investment.

Additionally, Uber revealed several new partnerships related to self-driving cars over the first four months of the year, as part of a broader strategy to engage with the robot taxi sector, which poses competitive challenges.

In March, the company initiated an exclusive collaboration in Austin, Texas, with plans to launch in Atlanta soon alongside autonomous automotive partner Waymo. By May, Uber had established 18 active self-driving car partnerships.

While rides continue to be the main source of Uber’s profits, the food delivery segment has seen a growth of 15%. Recently, the company invested $700 million to acquire an 85% stake in Trendyol GO, a Turkish grocery and cuisine service.

Furthermore, Uber experienced a relief from increasing car insurance costs that had affected driver earnings. The company has bolstered its short-term and long-term insurance reserves over the last quarter compared to the previous year.

Source: www.nytimes.com

Apple’s Quarterly Revenue Surpasses Wall Street Projections Amid Trump’s Trade Policy

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Apple’s financial results for the second quarter exceeded Wall Street predictions on Thursday.

The tech leader announced a revenue of $95.4 billion, marking an increase of over 4% compared to last year, with earnings surpassing $1.65 per share, up more than 7%. Analysts had anticipated a revenue of $94.5 billion and a profit of $1.62. The company’s market value stands at $3.2 trillion, consistently surpassing Wall Street forecasts for the last four quarters.

Investors remain focused on Apple’s impending financial disclosures. The tech giant has worked diligently to ease the concerns of anxious analysts following Donald Trump’s extensive tariffs that could disrupt the supply chain for appliances. Since the start of the year, Apple’s stock has decreased by 16%.

During a call with investors on Thursday, CEO Tim Cook indicated that he expects tariffs to escalate expenses by $900 million for the quarter ending in June, provided global tariff rates remain unchanged. Cook declined to make further predictions about the future, stating, “We don’t know what will happen with tariffs… it’s very challenging to predict post-June.”

In after-hours trading, the company’s shares dropped more than 4%, despite last year’s growth, due to tariff impacts and revenues that fell short of Wall Street’s expectations, particularly in its services sector, which includes iCloud subscriptions and various licensing revenues. Sales in China also did not meet estimates.

Nevertheless, the company remains optimistic, stating that it reported “strong post-quarter results” and is “actively engaged in the tariff discussion.”


iPhone manufacturers are heavily reliant on production in China for their mobile phones, tablets, and laptops. Following Trump’s implementation of tariffs that reached over approximately 245%, the president indicated he would allow an exception for household appliances.

During this period, Cook communicated with a senior White House official, as reported by the Washington Post. After these discussions, Trump declared an exemption for appliances. Following this announcement, Apple’s shares increased by 7% in subsequent days.

However, the duration of this exemption remains uncertain. U.S. Secretary of Commerce Howard Lutnick described it as “temporary”, and Trump later stated on social media that there would be no “exceptions”.

The president has consistently expressed a desire to see increased manufacturing in the United States. In February, he and Cook met to discuss investments in U.S. manufacturing. “He’s about to start a building,” Trump remarked after their meeting. “A very significant number – you have to tell him. I believe they’ll announce it soon.”

JPMorgan predicts that relocating production to the U.S. will lead to a substantial increase in prices. In this week’s memo, they noted, “Assuming a 20% tariff on China, we could witness a 30% price hike in the short term.” JPMorgan and other analysts assert that Apple may continue to shift more manufacturing to India, where tariffs are only 10%.

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Earlier this month, Apple transported around $2 billion worth of iPhones from India to the U.S. to boost its inventory in anticipation of rising prices due to Trump’s tariffs and panic buying by concerned consumers. Investors are increasingly worried about a drop in iPhone sales in China, the largest smartphone market globally. In its latest revenue report in January, Apple disclosed that iPhone sales in China fell by 11.1% in the first quarter, missing Wall Street revenue expectations.

Cook mentioned during a call with investors that while China remains the primary manufacturing hub for the company, India is expected to produce more iPhones along with Vietnam in the June quarter. “The tariffs currently imposed on Apple are contingent upon the origin of the product,” he noted, emphasizing that tariffs in India and Vietnam are less than those in China.

In the immediate term, analysts suggest that tariff-related disruptions could work in Apple’s favor as consumers rush to buy more products fearing price hikes. “Dipanjangchatterjee, principal analyst at Forester, stated: [consumers] absorb these price increases as they seek out Apple products.

Source: www.theguardian.com

Amazon’s Mixed Revenue Report Causes Stock Prices to Decline

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While Amazon aimed to highlight President Trump’s trade war, it was an unavoidable challenge for the leading online retailer in the U.S.

Initially, the e-commerce giant found itself amid a brief controversy on Tuesday, intertwined with misleading reports suggesting that Amazon revealed customs costs to shoppers.

Just two days later, economic realities hit when Amazon announced its slowest growth in North American retail history.

The company’s largest region contributed to first-quarter financial results, reflecting sluggish sales growth since the peak of the pandemic. Sales from January to March climbed to $155.7 billion, representing a 9% increase from the same period last year. Profits surged 64% to reach $17.1 billion.

For the quarter ending in June, Amazon has advised investors to anticipate revenues between $159 billion and $164 billion, with operating profits expected to decline to $13 billion. The company has included “tariffs and trade policies” as factors contributing to uncertainty in their forecasts.

The results were mixed in comparison to Wall Street expectations, leading to a more than 3% decline in Amazon’s stock during after-hours trading following the earnings release.

“None of us can predict precisely where the tariffs will land or when they will take effect,” stated Amazon CEO Andy Jassy during an investor call. He emphasized the company’s strong focus on reducing prices by procuring additional stock before tariffs are implemented, aiding sellers on Amazon’s platform to do the same.

Investors are analyzing how unforeseen tariffs, not addressed by President Trump, will impact Amazon’s customers. Some speculate that consumer purchases might have accelerated in March and April to avoid impending tariffs, leading to increased spending in otherwise unstable conditions.

Jassy noted that Amazon customers had made “advanced purchases” of certain product types but did not specify which ones.

Various elements contribute to Amazon’s retail revenue. Online product sales directly to consumers increased by 5% to $57.4 billion, while services provided to sellers on the platform grew by 6% to $36.5 billion.

Advertising, viewed by investors as a burgeoning and lucrative sector, rose 18% to $13.9 billion.

Investors have consistently focused on Amazon’s cloud computing division, which generates the majority of the company’s profits. Jassy, who previously led the cloud business before becoming CEO, is expanding the company’s artificial intelligence capabilities. The cloud sector grew by 17% in the first quarter, totaling $29.3 billion.

Jassy remarked that if Amazon had more capacity in its data centers, it could have offered even more cloud services. He mentioned the construction of a new facility equipped with advanced internet and AI-powered technology to alleviate constraints in the coming months. The company is striving to enhance its infrastructure, having reported more than $24 billion in spending during the first three months of the year, which is about $2 billion less than the previous quarter. In February, Amazon announced plans to invest around $100 billion in capital expenditures by 2025.

Source: www.nytimes.com

Alphabet’s revenue sees a 12% rise

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Google may face a breakup after losing two antitrust laws, but for now, it can take solace in its substantial earnings.

Alphabet, Google’s parent company, reported first-quarter revenue of $900.23 billion, a 12% increase from the previous year. Net income also saw a significant jump to $34.544 billion. Earnings per share stood at $2.81.

While the revenue aligned with analyst expectations, the bottom line was particularly strong. Analysts had anticipated revenue of $8.915 billion and earnings per share of $2.02.

Google CEO Sundar Pichai attributed the impressive results to the overall growth and momentum of the business.

Following the positive financial report, Google announced a 5% dividend increase and authorized $70 billion in share buybacks. Stock prices, which had been moderately increasing before the earnings release, saw further gains in after-hours trading.

Despite initial setbacks earlier in the year, including a drop in stock prices due to economic disruptions caused by tariff policies, Google’s outlook is improving. Challenges such as changes in AI-driven search and ongoing antitrust battles pose risks, but the company remains resilient.

Recent legal rulings have raised concerns over Google’s market dominance, leading to discussions on potential breakup scenarios. While Google vows to fight antitrust charges, some experts argue that a breakup could be beneficial, citing historical precedents with IBM and Microsoft.

Historical cases like IBM’s antitrust battle and Microsoft’s legal challenges offer insights into the potential outcomes for Google. As Google’s growth slows down, analysts speculate on the company’s future trajectory amid evolving market dynamics.

Research firm Emarketer predicts a deceleration in Google’s ad revenue growth, highlighting shifts in the digital advertising landscape. Senior analysts underscore the importance of adaptability in the face of changing market conditions.

Source: www.nytimes.com

TikTok’s Money-Making Secrets: How Kids’ Live Streams Generate Revenue

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Three young children huddle in front of the camera, nibbling and fidgeting. “Support us. We are extremely poor,” the boy says, gazing into the lens.

They appear to be in a mud brick hut in Afghanistan, experiencing severe poverty. Despite this, their live broadcasts have reached audiences in the UK and worldwide through Tiktok Live.

They spend hours soliciting virtual “gifts” that can later be exchanged for money. When they receive a gift, they politely applaud. In one live stream, a girl jumps up and exclaims, “Thank you, we love you!” After receiving a digital rose from a woman in the US, which costs approximately 1p on Tiktok, when converted to cash, it’s worth less than a third of a penny.

Tiktok claims to prohibit child begging and other forms of exploitation, deeming it exploitative, and states that there is a strict policy for users participating in live shows.

However, research by Observer has revealed widespread practices of begging on live streams, actively promoted by algorithms and benefiting Tiktok, which takes up to 70% of fees and charges.

Olivier de Schutter, the United Nations Special Rapporteur on Extreme Poverty and Human Rights, has criticized this trend as “a shocking development,” accusing Tiktok and its intermediaries of profiting from people’s misery. He urges Tiktok to take immediate action, implement stringent policies against exploitative begging, and scrutinize the individuals profiting from the world’s most vulnerable.

“We have put a lot of effort into saving you,” said Jeffrey Demarco, a Digital Rights expert at Save the Children. “Documented practices reveal serious abuses that require immediate action to ensure the platform no longer allows or benefits from such content.”

An analysis conducted between January and April 2025 found evidence of live begging and related behaviors in countries like Indonesia, Pakistan, Afghanistan, Syria, Egypt, and Kenya.

Many live streams show families begging in domestic settings, while some streams seem to involve organized begging activities.

Source: www.theguardian.com

Nvidia’s First Revenue after Chinese Deepseek’s Debut Shock

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Nvidia is set to release its revenue report for the fourth quarter of 2024 on Wednesday evening. Investors will be closely watching for any signs of slowing demand for semiconductor chips. The company’s financials have come under scrutiny amid concerns that the AI market boom may be coming to an end, leading to a stratospheric 3.1TN rating.

Analysts are hopeful that Nvidia will maintain its position as a leading chip manufacturer in the AI industry. However, recent developments pose new challenges to the company’s market dominance. For example, a report from TD Cowen revealed that Microsoft, one of Nvidia’s major customers, was canceling leases with private data center operators, raising concerns about the sustainability of AI infrastructure investments.

This earnings call will also provide insight into the company’s financials and demand following the introduction of the Chinese AI model, Deepseek ai, which has surpassed many US models while requiring less training and investment. The introduction of Deepseek has boosted Nvidia’s valuation significantly, signaling a shift in the AI landscape.

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Despite Nvidia’s strong performance in the past, analysts are now looking for indicators that the company can sustain its position in the AI chip market amidst evolving demands for AI models.

Jacob Bourne, a technology analyst at Emarketer, commented, “The key question regarding Nvidia’s fourth-quarter revenues is whether they can continue to lead the evolution of AI, not just in terms of numbers. Even if Nvidia shows another quarter of stellar growth, the market’s response will depend on its ability to address these challenges.”

While some analysts believe that the impact of Deepseek’s launch may not be immediate for Nvidia, they predict that competitors like AMD and Intel could gain a foothold in the AI infrastructure market.

“DeepSeek has opened up new possibilities for low-performance AI applications, particularly for inference models, allowing more organizations to experiment with AI,” noted Nguyen.

Source: www.theguardian.com

Alphabet, Google’s Parent Company, Fails to Impress Wall Street with Revenue Amid Tough AI Competition

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Alphabet, Google’s parent company, saw a drop of over 6% following the release of its quarterly results on Tuesday. The company reported revenue of $96.5 billion, slightly below analysts’ expectations of $96.67 billion. While Alphabet exceeded investors’ earnings per share (EPS) expectation of $2.13 by reporting $2.15, the company highlighted a strong fourth quarter led by AI advancements and overall business momentum.

Revenue breakdown included $84 billion from Google Search and services, with $12 billion from YouTube advertising and cloud revenue. Analysts are closely watching Alphabet’s competitive position in AI search and cloud revenues amidst growing competition from players like Chinese DeepSeek and OpenAI.

The company’s deceleration reflects a challenging year for Google, raising concerns about its future competitiveness. Alphabet plans to invest $750 billion in capital spending in the coming year to further develop AI and infrastructure.

Despite ongoing AI development efforts across the industry, Alphabet remains focused on AI innovation with a significant investment plan. The company aims to leverage its AI capabilities for monetization in the coming years.

Concerns about rising AI costs and their impact on Alphabet’s AI advertising strategy have emerged in light of recent developments. Analysts are closely monitoring how these developments will shape Alphabet’s future AI initiatives and competitiveness.

Additionally, Alphabet remains committed to responsible AI development practices, emphasizing the importance of democracy, human rights, and global cooperation in AI leadership. The company reaffirms its commitment to using AI for positive impact and national security.

Legal challenges, including antitrust investigations, pose further uncertainties for Alphabet’s future. The Ministry of Justice’s case against a major search company raises concerns about potential regulatory actions that could affect the tech industry.

In light of geopolitical tensions, particularly with China, Alphabet faces additional challenges as regulatory scrutiny intensifies. China’s response to tariff announcements and antitrust investigations adds to the uncertain outlook for Google.

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

Throoples Dating App Feeld Sees Revenue Soar to £39.5m, Doubles Previous Year’s Earnings

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The alternative relationship dating app has experienced global expansion and nearly doubled its revenue last year, thanks to non-monogamous, queer, and kinky users.

Founded by an entrepreneurial couple in an open relationship, Feeld is “on a mission to elevate the human sexual and relationship experience” from its registered office in Carlisle, Cumbria.

Feeld has surged in popularity due to the increasing interest in non-traditional relationship structures like polyamory. Last year marked its first time filing full accounts with Companies House.

The company’s revenue increased from £20.7 million to £39.5 million, with profits rising from £2.4 million to £5.5 million in 2023.

Most revenue comes from outside the UK, with £33 million in sales from overseas. The app is free to download globally but charges users for full services.

Founded in 2014 by Dimo Trifonov and Ana Kirova, Feeld (formerly 3nder) arose from their openness about their relationship.

Ana Kirova is CEO of Feeld, a company founded by her partner Dimo Trifonov. Photo: Field

Kirova joined the company early on when it faced legal issues with Tinder. She became CEO in 2023 and led a rebranding and tech upgrade to resolve initial glitches.

Company filings show ownership shifts since Kirova’s appointment, with Trifonov transferring shares to her. Previously, Trifonov owned the majority of shares.

Feeld’s growth involves strategic decisions rather than aggressive expansion. The company values member feedback and aims to support their personal journeys.

The company’s innovative approach has set it apart in the dating app industry, reflecting changing trends and member response.

Feeld’s growth story includes overcoming challenges, like a lawsuit from Tinder, to expand its team from eight in 2016 to nearly 50 employees.

Source: www.theguardian.com

Alphabet Embraces Rare AI Opportunity as Revenue Rises

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Shares of Alphabet, the owner of Google and YouTube, surged following the company’s announcement of its inaugural dividend and a substantial increase in profits for the last quarter.

CEO Sundar Pichai lauded the shift to artificial intelligence as a rare opportunity and emphasized the company’s swift adoption of technology across all sectors.

Investors were pleased with the company’s financial results and the news of a $70 billion share repurchase.

Google’s Q1 2024 revenue reached $80.5 billion, with earnings per share ranging from $1.17 to $1.89, marking a 15% year-over-year increase, surpassing analysts’ expectations on both fronts.

Alphabet’s shares climbed approximately 15% in after-hours trading. An initial dividend of $0.20 per share was declared, with payments scheduled quarterly.


“Our first quarter results reflect strong performance in search, YouTube, and cloud services. We are propelling into the Gemini era with significant momentum across the organization,” Pichai stated in a press release.

Alphabet CFO Ruth Porat noted that revenue from Google Search ads and Google Cloud contributed to overall positive growth. Revenue from YouTube and Google Cloud surpassed Wall Street’s estimates, with Cloud’s operating profit quadrupling to $900 million. Despite a 10% increase in traffic acquisition costs, Alphabet saw strong financial performance.

Analyst Nikhil Rai from Forrester Research commented on Alphabet’s exceptional quarter driven by robust search and YouTube advertising revenue, though challenges remain in monetizing conversational search and measuring branded media impact.

Recent internal and external controversies have disrupted Google’s operations, with financial results coinciding with employee protests, antitrust concerns, and the delayed rollout of the Gemini AI tool.

Google’s stock price has continued to climb despite ongoing legal battles and internal turmoil, positioning the company for potential growth pending the outcome of key antitrust proceedings.

Despite setbacks related to Gemini AI and controversies surrounding business contracts, Google remains resilient in the face of challenges and is actively reshaping its operations in response to market dynamics.

Source: www.theguardian.com

Tesla sees largest revenue decline since 2012, yet stock prices remain on the rise

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After the earnings release, Tesla stock plummeted by 10% in after-hours trading on Tuesday. This was despite missing Q1 2024 sales, having sharply lower profits, and recalling the recently launched $100,000 Cybertruck, which had seen a recent rise.

The electric vehicle maker’s revenue stood at $21.3 billion, slightly below expectations of $21.48 billion and down by 9% from a year ago, marking the largest decline since 2012. Profits were reported at $1.1 billion, a 55% drop from the first quarter of 2023, the company announced.

Despite the disappointing figures, the report also included upbeat news for investors. This included a preview of a ride-hailing app set to be integrated into Tesla products. The company revealed plans to bring new vehicle models to the market sooner than anticipated, citing the development of its robotaxi network.

Over the past three months, Tesla has doubled its AI computing capacity (smart software complexity) and invested $1 billion in AI infrastructure during the same period.


Thomas Monteiro, senior analyst at the company, mentioned that Tuesday’s report and Tesla’s plans to accelerate the development of more affordable vehicles helped alleviate some concerns among investors. “This announcement suggests that Elon [Musk] may refocus on the EV giant, which is positive news for shareholders,” he stated.

The earnings report was Tesla’s second since the launch of the Cybertruck, its long-awaited electric pickup truck. It was also the first report after the vehicle’s recent recall. The company faced challenges with the futuristic steel car, including a voluntary recall due to reports of a loose accelerator pedal potentially causing vehicles to become stuck when driving at full speed. Despite this, the company did not directly address the recall in its earnings release.

Even without the Cybertruck issues, Tesla has a tough year ahead as it announced a 10% reduction in its global workforce, affecting approximately 14,000 jobs. The company also slashed prices globally over the weekend. The entry of Chinese electric car manufacturers into the market has added to Tesla’s struggles in recent quarters.

Tesla reported a decrease in car deliveries for the first time in four years in the last quarter. The company warned that the growth rate in car sales could be considerably lower compared to 2023.

Addressing concerns about his workload, Elon Musk stated during the earnings conference, “Tesla consumes the majority of my work time. I work every day. I will ensure that Tesla prospers.”

Source: www.theguardian.com

Nvidia Reports Record Revenue as AI Reaches Tipping Point

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The artificial intelligence boom has pushed demand for Nvidia products beyond Wall Street’s already high expectations.

The company announced fourth-quarter results on Wednesday that significantly beat analysts’ expectations, with revenue of $22.1 billion versus the $20.55 billion expected and earnings of $4.93 per share versus the $4.64 expected. became. Revenue increased 22% sequentially and 265% year over year.

Revenue from data centers, Nvidia’s most-watched revenue, increased more than 400% year-over-year to $18.4 billion.


Nvidia founder and CEO Jensen Huang said in a press release: “Accelerated computing and generative AI have reached a tipping point. Demand is surging around the world across companies, industries, and nations.”

Nvidia’s earnings and stock demand are seen as a bellwether for overall interest in artificial intelligence, as the company relies heavily on its products to develop AI. Microsoft, OpenAI, Amazon, Meta, and Google have all signed deals to buy the company’s chips in bulk as they race to release new AI products and features.

Some major companies, including OpenAI’s Sam Altman, are launching their own AI chip ventures to compete with established Nvidia, which would likely cost hundreds of billions of dollars. .

Nvidia plans to ship a new chip, the B100, which will be the top of its product line, in 2024, raising expectations for explosive growth. Nokia and Nvidia on Wednesday announced a partnership to develop AI solutions that can improve communications infrastructure.

Wall Street has come to expect big growth from Nvidia. Analysts’ baseline forecast on Wednesday was for sales to increase his 240%. Tech companies are rushing to develop AI products that leverage the company’s proprietary AI chips and software, considered the best on the market.

Nvidia’s revenue tripled last quarter, and its profits for the past four quarters have exceeded analyst expectations.

The company’s stock price has more than tripled over the past year, valuing the company at more than $1.5 trillion. The company surpassed Google and Amazon in market capitalization last week, making it the world’s third-largest company by value within days.

Source: www.theguardian.com