Author: Nivedita Balu
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Alphabet revenue misses estimates as ad business takes a hit
By Greg Bensinger and Nivedita Balu (Reuters) -Alphabet Inc on Thursday reported lower-than-expected quarterly revenue as the Google parent’s digital ad business struggled under an economic slowdown that has choked corporate spending and triggered mass layoffs. Shares of Alphabet, which lost roughly 40% of their value in 2022, were down about 4% in after-hours trading.…
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Intel’s ‘historic collapse’ set to erase $10 billion from market value
By Aditya Soni and Nivedita Balu (Reuters) – Intel Corp was set to erase nearly $10 billion in market value on Friday after the U.S. chipmaker stumped Wall Street with dismal earnings projections, fanning fears around a slump in the personal-computer market. The company predicted a surprise loss for the first quarter and its revenue…
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Musk expected to be temporary Twitter CEO after closing $44 billion takeover – CNBC
By Nivedita Balu (Reuters) -Elon Musk is expected to become Twitter’s temporary CEO after closing his $44 billion takeover of the social-media firm, CNBC reported on Thursday, as the billionaire inches closer to securing funds for the deal. Musk, the world’s richest man, is also the CEO at Tesla Inc and heads two other ventures,…
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Tesla sees supply chain issues throughout 2022, posts record revenue
By Hyunjoo Jin and Nivedita Balu SAN FRANCISCO (Reuters) -Tesla Inc on Wednesday forecast supply chain issues would persist throughout 2022 and limit electric vehicle production, while posting record quarterly revenue that beat Wall Street expectations. The outlook showed that even Tesla cannot avoid the shortages that were pitfalls for many larger automakers last year.…