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Amazon Set To Join Big Tech's Spending Surge As AI Race Heats Up
As a result of the spending increase, Amazon's gross profit margin growth is expected to have slowed to 1.3% in the April-June quarter, compared with 2.6% in the previous quarter and an average of 2.7% over the past two years.
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Amazon Devices Unit Morale Suffers Amid Staff Cuts, Shaky Development Pipeline
Some workers within Amazon’s once-storied hardware division – responsible for popular devices like the Kindle reader and Echo voice-assistant – say morale within the division has suffered amid staff cutbacks and a pipeline of devices in development that they fear are unlikely to prove hits.
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OTT Platforms in India Using 5G Networks Without Paying Up, Claims COAI DG
Cellular Operators Association of India Director General S P Kochhar on Thursday made a case for sharing profit between OTT players and telecom companies for using 5G networks. "While telcos carry their traffic of voice and data, majority of the use of these networks is done by OTT players who load these networks with massive amounts of data which...
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Meesho Posts First-Ever Profit, Plans IPO in 12 to 18 Months
Indian e-commerce startup Meesho has posted its first-ever profit and is targeting a stock market listing in the next 12-18 months, a senior company executive said in an interview. Meesho competes with Amazon and Walmart's Flipkart in India's fast-growing e-commerce market, with its website becoming popular by targeting smaller towns and cities...
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Spotify Raises Premium Plans Prices Across Several Countries
Spotify Technology on Monday raised prices for its premium plans across several countries including the United States and United Kingdom, as the music-streaming company looks to boost profitability in an uncertain economy.
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Amazon's Profits Rise To $3.2 Billion Amid Series Of Layoffs: Report
The e-commerce giant Amazon on Thursday reported a profit of USD 3.2 billion for the first quarter, far exceeding analysts' estimates, CNN Business reported on Friday.
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Amazon Records $3.2 Billion in Quarterly Profits as Revenue Climbs 9 Percent on Back of Cloud, Ads Units
Online retail titan Amazon on Thursday reported that its cloud and ads units helped it beat earnings expectations in the first quarter of this year despite shoppers and businesses being more careful about spending.
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Big Tech Investors to Scrutinise Profits After Industry-Wide Layoffs, Firms to Highlight AI as Growth Driver
Big Tech investors are set to scrutinise how much impact cost cutting, including layoffs, have had on technology giants like Microsoft, Google parent Alphabet, Instagram owner Meta and Amazon. Meanwhile, companies are expected to focus on pitching artificial intelligence (AI) as the next growth driver for the industry.
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US President Joe Biden Says Social Media Firms Exploiting Children, Asks Lawmakers to Restrict Use of Data
US President Joe Biden on Tuesday accused Big Tech firms of conducting a "for profit" experiment on the country's youth and urged US lawmakers to rein in social media firms' abilities to collect the data of children and teenagers online. The US has trailed other countries in creating modern rules to curb the power of the biggest tech firms.
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Layoffs Alone Won’t Solve Tech’s Problems: Parmy Olson
The tech sector has had a tough time recently with the prevailing economic downturn hitting all the big companies. Amazon, Microsoft, Meta, and Alphabet have all announced layoffs in the thousands to cut their losses. While these tech giants are tightening up on fringe benefits and showing their talent the door, there is still more to do.
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Apple Posts First Quarterly Revenue Drop Since 2016 Amid Weak iPhone Sales During Holiday Season
Apple posted its first quarterly drop in revenue since 2016, after weak iPhone sales during the recent holiday season caused by pandemic-related restrictions on its factories in China. Unlike its peers in technology, Apple hasn’t signaled any intention to resort to mass layoffs, despite the quarterly downturn.
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Amazon Plans To Lay Off 10,000 Employees As Losses Mount: Report
Amazon is planning to layoff thousands of employees and implement cost-cutting measures as the last few quarters haven't been profitable, according to reports.
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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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Amazon Records Greatest Single-Day Surge in Value With $190 Billion Gain
Amazon gained a whopping $190 Billion on Friday, recording the company’s biggest single-day gain of 13.5 percent, following a blockbuster quarterly earnings report.
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Amazon Overcomes Supply Chain Snags, Labour Shortages to Report Nearly Double Profits in Q4
Amazon reported that its profits nearly doubled in the final three months of last year, even as it contended with surging costs tied to a snarled supply chain and labour shortages.
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Amazon Set To Join Big Tech's Spending Surge As AI Race Heats Up
As a result of the spending increase, Amazon's gross profit margin growth is expected to have slowed to 1.3% in the April-June quarter, compared with 2.6% in the previous quarter and an average of 2.7% over the past two years.
-
Amazon Devices Unit Morale Suffers Amid Staff Cuts, Shaky Development Pipeline
Some workers within Amazon’s once-storied hardware division – responsible for popular devices like the Kindle reader and Echo voice-assistant – say morale within the division has suffered amid staff cutbacks and a pipeline of devices in development that they fear are unlikely to prove hits.
-
OTT Platforms in India Using 5G Networks Without Paying Up, Claims COAI DG
Cellular Operators Association of India Director General S P Kochhar on Thursday made a case for sharing profit between OTT players and telecom companies for using 5G networks. "While telcos carry their traffic of voice and data, majority of the use of these networks is done by OTT players who load these networks with massive amounts of data which...
-
Meesho Posts First-Ever Profit, Plans IPO in 12 to 18 Months
Indian e-commerce startup Meesho has posted its first-ever profit and is targeting a stock market listing in the next 12-18 months, a senior company executive said in an interview. Meesho competes with Amazon and Walmart's Flipkart in India's fast-growing e-commerce market, with its website becoming popular by targeting smaller towns and cities...
-
Spotify Raises Premium Plans Prices Across Several Countries
Spotify Technology on Monday raised prices for its premium plans across several countries including the United States and United Kingdom, as the music-streaming company looks to boost profitability in an uncertain economy.
-
Amazon's Profits Rise To $3.2 Billion Amid Series Of Layoffs: Report
The e-commerce giant Amazon on Thursday reported a profit of USD 3.2 billion for the first quarter, far exceeding analysts' estimates, CNN Business reported on Friday.
-
Amazon Records $3.2 Billion in Quarterly Profits as Revenue Climbs 9 Percent on Back of Cloud, Ads Units
Online retail titan Amazon on Thursday reported that its cloud and ads units helped it beat earnings expectations in the first quarter of this year despite shoppers and businesses being more careful about spending.
-
Big Tech Investors to Scrutinise Profits After Industry-Wide Layoffs, Firms to Highlight AI as Growth Driver
Big Tech investors are set to scrutinise how much impact cost cutting, including layoffs, have had on technology giants like Microsoft, Google parent Alphabet, Instagram owner Meta and Amazon. Meanwhile, companies are expected to focus on pitching artificial intelligence (AI) as the next growth driver for the industry.
-
US President Joe Biden Says Social Media Firms Exploiting Children, Asks Lawmakers to Restrict Use of Data
US President Joe Biden on Tuesday accused Big Tech firms of conducting a "for profit" experiment on the country's youth and urged US lawmakers to rein in social media firms' abilities to collect the data of children and teenagers online. The US has trailed other countries in creating modern rules to curb the power of the biggest tech firms.
-
Layoffs Alone Won’t Solve Tech’s Problems: Parmy Olson
The tech sector has had a tough time recently with the prevailing economic downturn hitting all the big companies. Amazon, Microsoft, Meta, and Alphabet have all announced layoffs in the thousands to cut their losses. While these tech giants are tightening up on fringe benefits and showing their talent the door, there is still more to do.
-
Apple Posts First Quarterly Revenue Drop Since 2016 Amid Weak iPhone Sales During Holiday Season
Apple posted its first quarterly drop in revenue since 2016, after weak iPhone sales during the recent holiday season caused by pandemic-related restrictions on its factories in China. Unlike its peers in technology, Apple hasn’t signaled any intention to resort to mass layoffs, despite the quarterly downturn.
-
Amazon Plans To Lay Off 10,000 Employees As Losses Mount: Report
Amazon is planning to layoff thousands of employees and implement cost-cutting measures as the last few quarters haven't been profitable, according to reports.
-
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.
-
Amazon Records Greatest Single-Day Surge in Value With $190 Billion Gain
Amazon gained a whopping $190 Billion on Friday, recording the company’s biggest single-day gain of 13.5 percent, following a blockbuster quarterly earnings report.
-
Amazon Overcomes Supply Chain Snags, Labour Shortages to Report Nearly Double Profits in Q4
Amazon reported that its profits nearly doubled in the final three months of last year, even as it contended with surging costs tied to a snarled supply chain and labour shortages.
