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Tesla’s flailing sales figures have put the company closer to the red than it has been in years, according to financial results released Tuesday, threatening one of its biggest advantages over other EV players. The electric automaker reported $409 million in net income on $19.3 billion in revenue after delivering almost 337,000 EVs in the…
Reddit CEO Steve Huffman said that, over this year, Reddit plans to launch an upgraded search experience that’ll help users navigate the social network, but also answer “subjective, hard, [and] interesting questions.” The company plans to achieve this by integrating Reddit Answers, its feature that allows visitors to ask questions and receive curated summaries of…
Apple’s iPhone sales may be down, but the company’s Services division, which includes the App Store, iCloud, Music, TV+, and other subscriptions, is still soaring. The Cupertino-based tech giant reported Thursday its Services business had an all-time revenue high of $26.3 billion for the quarter ended December 28, up 14% year-over-year. Services generated nearly $100…
Shares of Roku soared 12 percent in after hours trading Wednesday after the company beat Wall Street revenue expectations and saw improvements in its advertising business. The company reported total net revenue of $912 million, up 20 percent year-over-year. Platform revenue at Roku, which is primarily generated from ads, has also been increasing, reaching $787…
AT&T does not see cable companies’ mobile subscriber gains coming at its expense and sees a “pretty high” bar for a merger of DirecTV and Dish Network, CFO Pascal Desroches told an investor conference on Tuesday. Speaking at the Bank of America C-Suite Technology, Media and Telecommunications Conference in London in a session that was…
Despite challenges, the global media and entertainment market grew in 2022, although at a slower pace than in 2021, with gains projected in the coming years. Subscription streaming video growth “stuttered” though last year and will slow over the next five years, even though the global streaming market will expand further to nearly $175 billion. Global…
Warner Bros. Discovery ended March with 97.6 million global streaming subscribers, compared with around 96.1 million as of the end of 2022 and ahead of estimates, the entertainment conglomerate disclosed in its first-quarter earnings report on Friday. Importantly, its streaming unit swung to a $50 million profit, compared with a loss of $654 in the year-ago period…
Paramount Global reached 60 million Paramount+ streaming subscribers worldwide as of the end of March, a gain of 4.1 million from nearly 56 million as of the end of 2022. But the Hollywood conglomerate on Thursday posted a swing to a first-quarter loss amid a wider streaming loss and an 11 percent TV advertising revenue drop….
Toy company Hasbro said it will provide an update on the sale of eOne during its current second quarter, which typically runs through the end of June. “The sale process for the eOne TV and film assets is ongoing and we expect to provide an update during the second quarter,” said Hasbro CEO Chris Cocks….
Roku pared down its operating losses in the first quarter of 2023 to $212.5 million, after several quarters of growing losses. This is an improvement from its Q4 operating losses of $249.9 million, and comes after Roku had set out a plan to tighten expenses moving forward, with a plan to reach positive adjusted earnings…