Technology News

Amazon raises stakes for rivals with one-day delivery goal after profit surge

(Reuters) - Amazon.com Inc plans to deliver packages to members of its loyalty club Prime in just one day, instead of two days, part of a spending ramp-up that may curb near-term profits and will up the ante for retail rivals such as Walmart Inc. Shares rose as much as 2 percent in after-hours trade on Thursday as Amazon said faster shipping will come to customers around the world and said its profit more than double...

25 Apr 11:58 PM 0 Read More...

Grubhub profit better than expected, shares soar

LOS ANGELES (Reuters) - Grubhub Inc’s reported a first-quarter profit on Thursday that topped Wall Street’s view after the restaurant delivery service ramped up spending to woo restaurant partners and encourage customers to order more often and spend more. It shares surged 8.2 percent to $75.47. Grubhub, which is battling startups ranging from DoorDash and Uber Eats to Amazon.com Inc’s Amazon Restaurants, has s...

25 Apr 11:51 PM 0 Read More...

Uber to kick off investor road show with IPO terms on Friday

(Reuters) - Ride-hailing company Uber Technologies Inc will unveil terms for its initial public offering on Friday, telling investors it will seek to be valued at between $80 billion and $90 billion, according to people familiar with the matter. The valuation sought is less than the $120 billion valuation that investment bankers told Uber last year it could fetch, and closer to the $76 billion valuation it attained i...

25 Apr 11:11 PM 0 Read More...

New York investigating Facebook over storage of 'unauthorized' email contacts

(Reuters) - New York Attorney General Letitia James said on Thursday she is investigating Facebook Inc’s unauthorized storage of up to 1.5 million Facebook users’ email contact databases, the latest privacy issue to affect the U.S. social media giant. Last week, Facebook said it may have “unintentionally uploaded” email contacts of up to 1.5 million new users since May 2016, adding that the “contacts were n...

25 Apr 10:17 PM 0 Read More...

Amazon aims to bring one-day delivery to Prime members around the globe

(Reuters) - Amazon.com Inc plans to deliver packages to members of its loyalty club Prime in just one day, instead of two days, part of a spending ramp-up that might curb future profits after a blockbuster first quarter. Shares rose as much as 2% in after-hours trade on Thursday on the faster shipping announcement for customers around the globe and as Amazon’s first-quarter profit trounced estimates thanks to soari...

25 Apr 10:11 PM 0 Read More...

Uber to kick off investor roadshow with IPO terms on Friday

(Reuters) - Ride-hailing company Uber Technologies Inc will unveil terms for its initial public offering on Friday, telling investors it will seek to be valued at between $80 billion and $90 billion, according to people familiar with the matter. The valuation sought is less than the $120 billion valuation that investment bankers told Uber last year it could fetch, and closer to the $76 billion valuation it attained i...

25 Apr 10:08 PM 0 Read More...

Intel cuts forecast as China data center sales remain weak

(Reuters) - Chipmaker Intel Corp on Thursday cut its full-year revenue forecast and missed analysts’ estimates for first-quarter sales for its higher-margin data center business, sending its shares down as much as 7.5%. The forecast adds to concerns that an industry-wide slowdown could persist until the end of 2019 and follows a similar warning earlier this week from chipmaker Texas Instruments Inc . Intel marginal...

25 Apr 9:50 PM 0 Read More...

Grubhub profit better than expected; shares jump 5.3%

LOS ANGELES (Reuters) - Grubhub Inc’s reported a first-quarter profit on Thursday that topped Wall Street’s view after the restaurant delivery service ramped up spending to encourage customers to order more often and spend more. It shares rose 5.3 percent to $73.50. Grubhub, which is battling startups ranging from DoorDash and Uber Eats to Amazon.com Inc’s Amazon Restaurants, has swept up more than a half-dozen...

25 Apr 9:49 PM 0 Read More...

T-Mobile beats estimates on higher phone subscriber additions

(Reuters) - T-Mobile US Inc beat Wall Street’s first-quarter estimates for revenue and profit on Thursday, as it added more than expected net new phone subscribers who pay a monthly bill due to its competitively-priced wireless plans. Shares of the Bellevue, Washington-based operator rose about 1 percent to $73.45 after hours. T-Mobile, the third-largest U.S. wireless carrier by subscriber count, is awaiting approv...

25 Apr 8:23 PM 0 Read More...

Amazon profit trounces estimates, sales forecast muted

(Reuters) - Amazon.com Inc on Thursday trounced first-quarter profit estimates on soaring demand for its cloud and advertising services, but forecast second-quarter revenue largely below expectations. Net sales rose 17 percent to $59.70 billion, beating the analysts’ average estimate of $59.65 billion. The company forecast net sales of between $59.5 billion and $63.5 billion for the second quarter, the midpoint of ...

25 Apr 8:22 PM 0 Read More...