Beyond Meat on Friday cut its annual revenue forecast for the second time due to slowing demand for faux meat as consumers look for cheaper options to beat rising prices and announced jobs cuts as well as executive departures. The plant-based meat producer plans to cut 200 jobs this year and said its finance chief…
Beyond Meat Cuts Revenue View, Jobs as Inflation Hits Plant Protein Demand
Apple Supplier Foxconn Posts Record Q3 Revenue: Says ‘Cautiously Positive’ on Q4 Outlook
Apple Inc. supplier Hon Hai Precision Industry Co., Ltd., operating as Foxconn, said the company is “cautiously positive” about the outlook for the fourth quarter. What Happened The company said “the dynamics of inflation, the pandemic, and the supply chain still need to be closely monitored,” and added that the outlook for the entire year…
What Micron Investors Need to Know About Q4 Results: Earnings Beat, Revenue Miss, Weak Guidance
Micron Technology Inc. reported its fiscal fourth-quarter results Thursday after the bell. Here’s a rundown of the report. What Happened Micron reported fourth-quarter revenue of $6.64 billion, which missed average analyst estimates of $6.68 billion, according to Benzinga Pro. The company’s top-line results were down from $8.64 billion year-over-year. Micron reported quarterly adjusted earnings of…
BlackBerry Takes a Knock as Cybersecurity Revenue Drop Clouds Automotive Demand
Canada’s BlackBerry Ltd. on Tuesday reported a fall in cybersecurity revenue for the second quarter, as customers reined in spending due to an uncertain macroeconomic environment, sending its shares down about 3 percent in extended trading. The company has also been facing tough competition from Microsoft Corp., Citrix Systems, and International Business Machines in the…
YouTube in Challenge to TikTok to Give Shorts Creators 45 Percent of Advertisement Sales
LOS ANGELES—YouTube unveiled a new way for creators to make money on short-form video, as it faces intensifying competition from TikTok. The Google-owned streaming service announced Tuesday that it would introduce advertising on its video feature Shorts and give video creators 45 percent of the revenue. That compares with its standard distribution of 55 percent…
Oracle Meets Revenue Targets on Cerner Boost, Cloud Strength
By Akash Sriram Oracle Corp met Wall Street targets for first-quarter revenue on Monday as the enterprise software maker started to reap the benefits of buying healthcare IT firm Cerner. Demand for its cloud services also remained strong, driving segment revenue up 45 percent to $3.6 billion, including contribution from Cerner. With hybrid work gaining…
Broadcom Looks to Defy Chip Slowdown on Data Center, Wireless Strength
Broadcom Inc forecast fourth-quarter revenue above estimates on Thursday as the semiconductor company expects resilient demand from businesses going digital to help it weather a likely chip industry slowdown. Shares of the company rose 2.4 percent to $503 in extended trading after third-quarter results also sailed past expectations. “From our vantage point, infrastructure demand is…
Lululemon Lifts Annual Forecasts on Strong Demand for Fresh Products
Lululemon Athletica Inc on Thursday raised its annual profit and revenue forecasts to above analysts’ estimates as affluent customers snap up its new belt bags, golf and tennis clothing, sending its shares up 10 percent in extended trade. Higher-income consumers have largely shrugged off the impact of inflation to spend on discretionary goods including apparel…
Dell Fans Slowdown Fears With Weak Revenue Forecast
Dell Technologies Inc joined rivals in predicting a slowdown as runaway inflation and the darkening economic outlook prompt consumers and businesses to tighten their purse strings, sending its shares down 8 percent in extended trading on Thursday. Industry majors from Intel Corp to Lenovo Group have warned of a slump in the personal computer market…
Gartner Shares Pop On Q2 Beat; Upbeat FY22 Guidance
Gartner, Inc. reported second-quarter FY22 revenue growth of 21.8 percent year-on-year on an FX-neutral basis to $1.40 billion, beating the consensus of $1.32 billion. Revenues from Research rose 14 percent Y/Y to $1.14 billion, and Conferences were $113.5 million, up 95 percent Y/Y. Consulting revenue grew 14 percent Y/Y to $120.7 million. Global Technology Sales Contract Value…
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