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...It recorded a net loss of almost $91mn in 2023....
...Though TikTok remains unprofitable because of its heavy investment in global expansion, ByteDance as a whole recorded $28bn in net profit for 2023, the people with knowledge of its finances said....
...He added Europe had “not grown as fast as the rest of the world because we lack the technology sector, we lack the digital sector”....
...However, Uber reported a net loss of $654mn in the three months to March 31, sharply missing estimates from analysts for a net income of about $500mn....
...Net losses stood at $575mn in the first quarter compared with consensus estimates of $531mn, widening sharply from $60.9mn in the same quarter of the previous year....
...Net income reached $264mn in the three months to March compared with $117mn in the same period a year before and substantially higher than the $152mn analysts had expected, Airbnb said on Wednesday....
...Court documents show that in 2022 this was $20bn — equal to a fifth of net income....
...Having Blizzard game licences in its portfolio is not just about the boost to its net income. Crucially it gives NetEase an edge over Tencent, its biggest local rival....
...A version of this article was first published by Nikkei Asia on May 1. ©2024 Nikkei Inc. All rights reserved....
...“No matter the company’s attempt to switch focus from subscribers to financials, net [subscriber] adds is the key metric everyone wants to see,” he said....
...It is telling that the Chinese government considers the TikTok algorithm a key asset, having included it on a restricted list of technologies in 2020, preventing its export without government approval....
...Social network giant Meta doubles net income and watches as its share price slides more than 12 per cent....
...Those figures, as well as adjusted net income of $1.47bn, all beat the expectations of analysts polled by Bloomberg....
...Net income was $23.7bn, up 57 per cent from $15.1bn in the same period a year earlier, beating analysts’ consensus of $19.1bn....
...Take a look at the difference between Uber’s operating profit of $1.1bn and net income of $1.9bn and it is also clear that something beyond rides and food delivery is helping push up profits....
...High-margin services revenues have bolstered net income even as slowing smartphone sales drag on growth. This is the model that regulators have put in peril. elaine.moore@ft.com...
...Attorney-general Merrick Garland noted that Apple’s net income — which was $97bn in 2023 — “exceeds the GDP of more than 100 countries”, in large part because of the success of the iPhone....
...Where can we go in five years with radiomics, robotic process automation, Crispr gene editing, technology in primary care? This is the last mile of healthcare....
...GitLab joined markets in 2021, part of the rush of technology companies that listed as stock prices peaked. It raised just over $800mn at an $11bn valuation....
...SAP’s announcement “does go to show this is not a net job loss; it’s more of a reskilling”, said TD Cowen analyst Derrick Wood....
...Banks could be at risk too; lower rates would pinch net interest margins, already at record lows, without doing much to curb the pipeline of bad property loans....
...Meta’s finance chief Susan Li said capital expenditure would rise to $40bn this year and go even further in 2025, projections that overshadowed a 91 per cent increase in first-quarter net income....
...Similarly the huge bet on Apple (its holdings peaked at almost $180bn last year) represented a huge shift in Berkshire’s view of technology....
...It would also set a dangerous precedent, empowering government to take a heavy hand in designing people’s technology.”...
...Net losses shrunk from $159mn to $91mn in 2023, but it has never reported a profit....
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