Technology News

Tesla's Musk 'sees merit' in capital raise, vows profit in third quarter after large loss

(Reuters) - Tesla Inc Chief Executive Elon Musk suggested on Wednesday a capital raise could be imminent, as the electric vehicle maker lost $700 million in the first quarter and predicted a return to profit in the third. Tesla plans to resolve logistics issues with global vehicle deliveries after weathering a challenging few months, also marked by staff layoffs and a public spat between Musk and U.S. financial regul...

25 Apr 1:37 AM 0 Read More...

Tesla promises return to profit after first-half losses

(Reuters) - Tesla Inc said on Wednesday it would return to profit in the third quarter of 2019 after racking up two consecutive losses in the first half of the year, as it struggled to deliver cars to customers and launched a cheaper version of its Model 3 sedan. The company, which Wall Street suspects may soon have to raise more cash, said it ended the quarter with just $2.2 billion in cash, after paying off a $920 ...

24 Apr 9:46 PM 0 Read More...

Facebook beats profit estimates, sets aside $3 billion for privacy penalty

(Reuters) - Facebook Inc on Wednesday blew away Wall Street profit estimates in the first quarter as it kept a lid on the costs of making its social networks safer, and set aside $3 billion to cover a settlement with U.S. regulators, calming investors who had worried about the outcome of a months-long federal probe. Shares of the world’s biggest online social network jumped more than 10 percent after hours. The U....

24 Apr 9:35 PM 0 Read More...

Microsoft gets a boost from Windows as cloud stays on track

(Reuters) - Microsoft Corp beat Wall Street estimates for quarterly profit and revenue on Wednesday, powered by a surprise boost in Windows revenue and as growth in its cloud business stayed on track. Shares rose 3.2% after the bell, pushing the Redmond, Washington-based company’s market capitalization to nearly $1 trillion. The rally added to the stock’s roughly 23% gain so far this year, after it hit a record h...

24 Apr 9:32 PM 0 Read More...

Twitter not amused by long wait for Tesla earnings

SAN FRANCISCO (Reuters) - Twitter was ablaze on Wednesday with humorous commentary and speculation over why Tesla Inc’s first-quarter earnings release was so late. As of 5:05 p.m. ET (2105 GMT), one hour after the market close, the results still had not been released. Here is a sampling of comments on Twitter: “Tesla forgot to get Deepak’s password when he left and now they can’t release the earnings. 40 min...

24 Apr 9:12 PM 0 Read More...

Chipmaker ASM beats first-quarter targets, sees market outperformance in 2019

(Reuters) - Dutch semiconductor supplier ASM International on Wednesday reported first-quarter revenue of 249 million euros ($278.5 million) and an order intake of 235 million euros, both exceeding its own expectations. The high order intake was again driven by ASM’s fabrication and logic semiconductor businesses, reflecting its solid position in these segments, CEO Chuck del Prado said. Analysts polled by Reuters...

24 Apr 5:12 PM 0 Read More...

Wirecard says all subsidiaries are audited, denying FT report

FRANKFURT (Reuters) - German digital payments company Wirecard on Wednesday said all its subsidiaries were subject to regular audits, denying a Financial Times report. The FT cited whistleblowers as saying that the accounts of Wirecard’s largest business, Card Systems Middle East in Dubai, were not audited in 2016 and 2017. “All subsidiaries of Wirecard, including Card Systems Middle East, are subject to ...

24 Apr 4:54 PM 0 Read More...

AT&T misses quarterly revenue estimates

(Reuters) - AT&T Inc missed Wall Street estimates for quarterly revenue on Wednesday, hit by lower-than-expected sales in its WarnerMedia unit and a shortfall in income from a wireless business where it has cut prices to draw in customers. AT&T has reduced its dependency on the phone business by buying media content through its acquisition of Time Warner, yet faces a daunting struggle to find growth as declin...

24 Apr 11:26 AM 0 Read More...

Exclusive: Behind Airbnb's bet on show business to hook travelers

SAN FRANCISCO (Reuters) - Hollywood has a new suitor in Silicon Valley. Airbnb Inc, the high-flying startup for booking home rentals around the world, has ambitions to develop a slate of original shows to whet customers’ appetite for travel, four people familiar with the matter told Reuters. The strategy, previously unreported, is crucial for the company, which is privately valued at $31 billion and is gearing up f...

24 Apr 11:19 AM 0 Read More...

UK cyber boss downplays threat of Five Eyes security rift over Huawei

LONDON (Reuters) - The head of Britain’s cyber center said governments in the Five Eyes intelligence alliance had not always been aligned over Huawei, downplaying any threat of a rift as the UK prepares to give the Chinese company access to 5G networks. A security source has told Reuters that Britain will allow Huawei access to non-core parts of the 5G network, but block it from all core parts of the system. The U...

24 Apr 9:35 AM 0 Read More...