Coinbase, the leading marketplace for cryptocurrency trading in the United States, recently reported its first-quarter earnings, exceeding analysts’ expectations. The company’s revenue stood at $1.64 billion, surpassing the anticipated $1.34 billion. Notably, Coinbase generated a net income of $1.18 billion, translating to $4.40 per share, a stark contrast to the previous year’s loss of $78.9
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Bitcoin, the leading digital currency, experienced a significant drop in value on Wednesday, reaching its lowest level in over two months. The price fell below $57,000 for the first time since February 28th, hitting a low of $56,757.93. This decline was part of a wider downturn in the cryptocurrency market, with other major coins such
As Amazon prepares to report its first-quarter earnings, analysts are eagerly awaiting the results. According to LSEG, the anticipated earnings per share is 83 cents, with revenue expected to reach $142.5 billion. This data is crucial for investors and will likely have a significant impact on the market. Aside from the overall earnings figures, Wall
The recent surge in Tesla’s shares during U.S. premarket trading is a direct result of the company reaching a significant milestone in rolling out its full self-driving technology in China. This spike of more than 10% in share price reflects the positive reaction of investors to the news of Tesla CEO Elon Musk’s visit to
The landscape of cloud infrastructure providers in the United States is becoming increasingly competitive. One such player, Oracle, is upping its game by enhancing its generative AI capabilities. The surge in AI applications, fueled by the introduction of chatbot ChatGPT in November 2022, has led to a surge in demand for cloud computing services and
The tech industry, known for its innovation and rapid growth, has been experiencing a wave of job cuts despite record-breaking earnings from major companies like Alphabet and Microsoft. In 2023 alone, over 263,000 job losses were recorded in the tech sector, and the trend has continued into 2024 with more than 75,000 job losses reported
In a surprising turn of events, after a turbulent 2022 and a challenging 2023 marked by financial setbacks and restructuring, top digital advertising companies such as Meta, Snap, and Google have made a remarkable comeback in the first quarter of this year. Meta, in particular, defied expectations by reporting a staggering 27% increase in revenue
Former Tesla executive Drew Baglino recently made headlines when it was revealed that he sold shares in the electric vehicle company worth approximately $181.5 million. This news came shortly after Baglino announced his resignation from Tesla, adding to the growing list of departures from the company. Baglino had been with Tesla since 2006, working his
Meta, previously known as Facebook, has been facing a myriad of challenges, as evident from the recent earnings call. Mark Zuckerberg, the CEO of Meta, discussed various aspects of the company’s future plans, including artificial intelligence, the metaverse, and the financial outlook. Despite reporting better-than-expected profits, Meta’s stock witnessed a significant drop, raising concerns among
In a surprising turnaround, South Korean memory chipmaker SK Hynix reported a net profit of 1.92 trillion South Korean won ($1.39 billion) in the first quarter, marking a significant shift from the loss of 2.58 trillion won in the same period a year ago. This positive income was a welcome change after five consecutive quarters