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Meta’s Reality Labs Continues to See Losses Despite Company Boasting 11 Percent YoY Spike in Revenue
Meta’s revenue climbed to $32 billion (roughly Rs. 2,62,377 crore) in the second quarter of 2023. The social networking giant did not disclose exactly how much its metaverse-related unit Reality Labs lose this quarter. It did however say, that its Reality Labs division could see more dips.
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Sam Bankman-Fried Loses Bid for Dismissal of Criminal Charges Over FTX's Collapse
A federal judge on Tuesday rejected Sam Bankman-Fried's request to dismiss most of the US government's criminal case accusing him of orchestrating a multibillion-dollar fraud. The decision paves the way for an October 2 trial of the FTX founder. Prosecutors accused Bankman-Fried of stealing billions of dollars in FTX customer funds to plug losses a...
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NFT Market Boomed to $2 Bln in February Sales, Recorded Nine-Month High
NFT sales surpassed $2 billion (roughly Rs. 17,214 crore) in February, around the same time when the crypto market began showing recovery from the FTX collapse. It is estimated that around 6.5 million NFTs were sold during February this year.
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Silicon Valley Bank Collapse: Financial Stocks Lose $465 Billion In 2 Days
Losses widened today, with the MSCI Asia Pacific Financials Index dropping as much as 2.7% to the lowest since Nov. 29.
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Zomato Crosses Billion Dollar Annualised Revenue Mark for the First Time in Q2 Ended September
Zomato on Thursday reported narrowing of its consolidated net loss to Rs. 250.8 crore for the second quarter ended September 2022. The transaction for the acquisition of Blinkit closed on August 10, and hence the financials for Blinkit have been consolidated from that date.
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Paytm CEO Says Firm Chasing $1 Billion Goal, Seeks to ‘Rewind-and-Reset’ Fintech Pioneer After IPO Fiasco
Paytm CEO Vijay Shekhar Sharma is looking to rewind-and-reset the fintech pioneer in India, following the stock-price collapse which exacerbated a crisis for India’s startups. The fintech firm’s founder is looking to win back investor confidence, as the company’s operating losses widened over the past year to about $350 million (roughly Rs. 2...
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FTC Reports Over 46,000 People Lost More Than $1 Billion in Cryptocurrency Scams Since 2021
A Federal Trade Commission (FTC) report has revealed that more than 46,000 people have lost over $1 billion in cryptocurrency scams since the start of 2021. Most of the people losing digital currencies in a scam said it started with an ad, post or a message on a social media platform.
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Amazon's Net Loss Prompts Query: Has It Built Too Many Warehouses?
In recent years, Amazon has spent billions of dollars on new warehouses that cut into profits, explaining to investors that it had no choice but to meet ever-rising consumer demand.
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Elon Musk’s Tesla Held Nearly $2 Billion in Bitcoins by 2021-End, US SEC Filing Shows
Tesla has revealed that it held $1.5 billion (roughly Rs. 11,200 crore) in Bitcoins by the end of 2021. The company had incurred losses worth $101 million (roughly Rs. 755 crore) on its Bitcoin holdings due to the volatility-induced price cuts that the crypto asset suffered. Regardless, Tesla plans on keeping options around enabling crypto payments...
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Ford Expects $5 Billion Loss In Current Quarter As Coronavirus Hits Demand
Ford Motor Co said on Tuesday its second-quarter loss would more than double to over $5 billion from $2 billion in the first quarter due to the impact of the coronavirus pandemic, but added it had enough money despite the crisis to last the rest of 2020.
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Ford Investors Keen For Details On When Automaker Will Restart U.S. Operations
Investors already know how the coronavirus outbreak has hurt Ford Motor Co's bottom line, so when the automaker releases first-quarter results on Tuesday they will focus on how and when Ford plans to restart North American operations.
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Ford Issues $8 Billion Debt Securities After Coronavirus Causes $2 Billion Loss
Ford Motor Co on Friday raised $8 billion from corporate debt investors to shore up its cash reserves as the coronavirus outbreak pummeled vehicle sales and production, resulting in an estimated loss of about $2 billion for the first quarter.
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WeWork to Lay Off 2,400 Employees Worldwide
WeWork will lay off 2,400 employees worldwide -- about a fifth of its workforce -- as it struggles to reorganise amid mounting losses, the company announced Thursday.
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Rs 45,000-Crore Relief For Vodafone, Airtel As Government Defers Dues
The proposal was recommended by a panel of senior bureaucrats under Prime Minister Narendra Modi to help wireless carriers the government estimates owe more than $20 billion in license fees and spectrum charges. The relief will be worth as much as Rs 45,000 crore ($6.3 billion) and the panel will continue to discuss other measures to help the indus...
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Uber Reports Record Loss Of $5.2 Billion
The company's core business, ride-hailing, grew revenue only 2 per cent to $2.3 billion.
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Meta’s Reality Labs Continues to See Losses Despite Company Boasting 11 Percent YoY Spike in Revenue
Meta’s revenue climbed to $32 billion (roughly Rs. 2,62,377 crore) in the second quarter of 2023. The social networking giant did not disclose exactly how much its metaverse-related unit Reality Labs lose this quarter. It did however say, that its Reality Labs division could see more dips.
-
Sam Bankman-Fried Loses Bid for Dismissal of Criminal Charges Over FTX's Collapse
A federal judge on Tuesday rejected Sam Bankman-Fried's request to dismiss most of the US government's criminal case accusing him of orchestrating a multibillion-dollar fraud. The decision paves the way for an October 2 trial of the FTX founder. Prosecutors accused Bankman-Fried of stealing billions of dollars in FTX customer funds to plug losses a...
-
NFT Market Boomed to $2 Bln in February Sales, Recorded Nine-Month High
NFT sales surpassed $2 billion (roughly Rs. 17,214 crore) in February, around the same time when the crypto market began showing recovery from the FTX collapse. It is estimated that around 6.5 million NFTs were sold during February this year.
-
Silicon Valley Bank Collapse: Financial Stocks Lose $465 Billion In 2 Days
Losses widened today, with the MSCI Asia Pacific Financials Index dropping as much as 2.7% to the lowest since Nov. 29.
-
Zomato Crosses Billion Dollar Annualised Revenue Mark for the First Time in Q2 Ended September
Zomato on Thursday reported narrowing of its consolidated net loss to Rs. 250.8 crore for the second quarter ended September 2022. The transaction for the acquisition of Blinkit closed on August 10, and hence the financials for Blinkit have been consolidated from that date.
-
Paytm CEO Says Firm Chasing $1 Billion Goal, Seeks to ‘Rewind-and-Reset’ Fintech Pioneer After IPO Fiasco
Paytm CEO Vijay Shekhar Sharma is looking to rewind-and-reset the fintech pioneer in India, following the stock-price collapse which exacerbated a crisis for India’s startups. The fintech firm’s founder is looking to win back investor confidence, as the company’s operating losses widened over the past year to about $350 million (roughly Rs. 2...
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FTC Reports Over 46,000 People Lost More Than $1 Billion in Cryptocurrency Scams Since 2021
A Federal Trade Commission (FTC) report has revealed that more than 46,000 people have lost over $1 billion in cryptocurrency scams since the start of 2021. Most of the people losing digital currencies in a scam said it started with an ad, post or a message on a social media platform.
-
Amazon's Net Loss Prompts Query: Has It Built Too Many Warehouses?
In recent years, Amazon has spent billions of dollars on new warehouses that cut into profits, explaining to investors that it had no choice but to meet ever-rising consumer demand.
-
Elon Musk’s Tesla Held Nearly $2 Billion in Bitcoins by 2021-End, US SEC Filing Shows
Tesla has revealed that it held $1.5 billion (roughly Rs. 11,200 crore) in Bitcoins by the end of 2021. The company had incurred losses worth $101 million (roughly Rs. 755 crore) on its Bitcoin holdings due to the volatility-induced price cuts that the crypto asset suffered. Regardless, Tesla plans on keeping options around enabling crypto payments...
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Ford Expects $5 Billion Loss In Current Quarter As Coronavirus Hits Demand
Ford Motor Co said on Tuesday its second-quarter loss would more than double to over $5 billion from $2 billion in the first quarter due to the impact of the coronavirus pandemic, but added it had enough money despite the crisis to last the rest of 2020.
-
Ford Investors Keen For Details On When Automaker Will Restart U.S. Operations
Investors already know how the coronavirus outbreak has hurt Ford Motor Co's bottom line, so when the automaker releases first-quarter results on Tuesday they will focus on how and when Ford plans to restart North American operations.
-
Ford Issues $8 Billion Debt Securities After Coronavirus Causes $2 Billion Loss
Ford Motor Co on Friday raised $8 billion from corporate debt investors to shore up its cash reserves as the coronavirus outbreak pummeled vehicle sales and production, resulting in an estimated loss of about $2 billion for the first quarter.
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WeWork to Lay Off 2,400 Employees Worldwide
WeWork will lay off 2,400 employees worldwide -- about a fifth of its workforce -- as it struggles to reorganise amid mounting losses, the company announced Thursday.
-
Rs 45,000-Crore Relief For Vodafone, Airtel As Government Defers Dues
The proposal was recommended by a panel of senior bureaucrats under Prime Minister Narendra Modi to help wireless carriers the government estimates owe more than $20 billion in license fees and spectrum charges. The relief will be worth as much as Rs 45,000 crore ($6.3 billion) and the panel will continue to discuss other measures to help the indus...
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Uber Reports Record Loss Of $5.2 Billion
The company's core business, ride-hailing, grew revenue only 2 per cent to $2.3 billion.
