By Paresh Dave and Nivedita Balu (Reuters) -Google parent Alphabet Inc on Tuesday reported first-quarter revenue below expectations as ad sales amid supply-chain and inflation concerns and the war in Ukraine failed to make up for slower-than-anticipated growth in other units. The world's largest provider of search and video ads said first-quarter sales were $68.01 billion, 23% … [Read more...] about Alphabet misses sales estimates; shares sink
Visa profit tops estimates on consumer spending rebound
(Reuters) -Visa Inc surpassed market estimates for quarterly profit on Tuesday as a rebound in consumer spending after the easing of COVID-19 curbs drove up transaction volumes at world's largest payments processor. The results sent Visa's shares 4% higher in extended trading and echoed the bullish commentary from major banks such as JPMorgan Chase & Co on strength of the … [Read more...] about Visa profit tops estimates on consumer spending rebound
Chipmaker Texas Instruments expects revenue hit due to reduced demand
(Reuters) -Texas Instruments Inc forecast second-quarter revenue below Wall Street estimates on Tuesday, hit by reduced demand due to COVID-19 lockdowns in China, sending its shares down 7%. Supply chain bottlenecks caused by rolling shutdowns in China coupled with high demand for electronic equipment have hampered the company's ability to increase sales. China has put … [Read more...] about Chipmaker Texas Instruments expects revenue hit due to reduced demand
Microsoft beats revenue estimates on cloud strength
By Tiyashi Datta and Jane Lanhee Lee (Reuters) -Microsoft Corp beat Wall Street profit and revenue expectations on Tuesday, benefiting from demand for the software giant's cloud-based services from the pandemic-triggered shift to hybrid work models. Shares were up less than 1% in after-hours trade. Individuals and organizations turned to Microsoft's diverse products, such as … [Read more...] about Microsoft beats revenue estimates on cloud strength
Robinhood to cut its workforce by 9%
(Reuters) - Retail trading platform Robinhood Markets Inc said on Tuesday it is laying off about 9% of its full-time employees, sending its shares down 5% in extended trade. The company, which is reporting its quarterly results later this week, said the rapid headcount growth has led to some duplicate roles and job functions. As of Dec. 31, the company's total headcount was … [Read more...] about Robinhood to cut its workforce by 9%
