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Facebook warns revenue growth slowing, costs remain high

January 30, 2020 admin Comments Off on Facebook warns revenue growth slowing, costs remain high

The news raised concerns that Facebook’s days of astronomical growth were firmly in the rearview mirror, and shares of the world’s biggest social network dropped 7.2% in extended trading. Facebook reported its slowest-ever revenue growth for the fourth quarter, at 25%, and Facebook’s chief financial officer, David Wehner, said on a call with investors that the pace of expansion will slow further in the first quarter of 2020. Wehner forecast a percentage point decline in the growth rate in the low- to mid-single digits, citing Facebook’s maturing business, the impact of global privacy regulation and concerns about ad …read more […]

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Tesla Racks Up Another Record Year (and Another Loss)

January 30, 2020 admin Comments Off on Tesla Racks Up Another Record Year (and Another Loss)

(Bloomberg Opinion) — Three months ago, Tesla Inc. notched up a $9 billion gain in market capitalization in the immediate aftermath of reporting a $143 million quarterly profit. On Wednesday, it reaped $12 billion on $105 million. Don’t forget the $50 billion it racked up in between those dates, of course.Tesla’s market cap has more than doubled to more than $100 billion since reporting that surprise profit for the third quarter. Besides that boost to confidence, the company also managed to meet the low end of delivery guidance for the fourth quarter, started producing vehicles at its new plant in …read more […]

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Samsung Profit Falls 38% as Memory-Chip Slump Drags On

January 30, 2020 admin Comments Off on Samsung Profit Falls 38% as Memory-Chip Slump Drags On

(Bloomberg) — Samsung Electronics Co. reported a 38% decline in profit as memory chip prices continued to decline and weak demand hit the display business.Net income came in at 5.23 trillion won ($4.4 billion) for the three months ended December, compared with the 5.31 trillion won average of projections. Samsung reported preliminary numbers earlier this month that showed operating profit fell by 34%.Samsung has been struggling with a stubborn slump in its memory chip business, historically its most profitable division, although the company said there are signs of recovering demand from data center customers and wireless operators. The company also …read more […]