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...The Shanghai-based video and photo-sharing app raked in $500mn in net profit last year on revenues of $3.7bn, according to four people briefed on the figures, which are not public....
...The company said it generated strong engagement in the first quarter from subscribers in the UK with Fool Me Once, which had 98mn views....
...However, Reddit said this was “driven by IPO expenses”, as it highlighted its first quarterly profit on an adjusted basis of $10mn....
...Uber has reported its first annual operating profit, marking an “inflection point” in the tumultuous history of the ride-sharing company and sending its shares to fresh highs....
...Net profit over the period hit €2.6bn, above the €2bn consensus provided by the company and an increase of 24 per cent year on year....
...For the fiscal year to March 31 2025, the company expects an operating profit of ¥4.3tn compared with ¥5.3tn in the previous year....
...Airbnb’s profits more than doubled in the first quarter, boosted by an early Easter holiday, but the home rental platform forecast lower than expected sales and earnings for the second....
...Intel chief executive Pat Gelsinger said in a statement that the company had delivered “strong” fourth-quarter results, and that in 2024 the company would be continuing efforts to build its foundry business...
...Analysts have questioned the company’s plans to fund businesses through public markets given such low valuations, when it faces steep investment demands for electric cars, self-driving systems and software...
...The company remains only breakeven on a gross profit basis. Digital subscriptions, on the other hand, generate strong cash. However these have stagnated at just about 3mn users....
...In the UK, Harry Potter publisher Bloomsbury in February raised its profit outlook following strong sales of the latest Maas novel released in January....
...The buyback represented a “vote of confidence in the company’s strong financial momentum”, said Prashanth Mahendra-Rajah, Uber’s chief financial officer....
...But all three generate surprisingly big chunks of their operating income from profit-sharing agreements with their partner banks....
...Despite this, the CMA said it believed the combined business “may in fact have a strong commercial incentive to maximise its profits by rationalising and limiting investment in its network and raising its...
...Over time, Uber has sold off various parts of its business, including autonomous driving and Chinese ride-sharing, while retaining a stake in the acquiring companies....
...In a rare display of bipartisan unity, Congress argued that ownership of the video-sharing platform by a Chinese-related company endangered national security....
...The company is expecting to report a 22 per cent rise in revenue over the period when it publishes first-half earnings next month, to about £3.3bn, in part driven by a strong performance from the group’s...
...Iger’s plan to reinvigorate the company’s film studios will be put to the test with upcoming releases including Kingdom of the Planet of the Apes this month, Pixar’s Inside Out 2 in June and Marvel’s Deadpool...
...Spirit said executives had “developed plans to pursue various options to improve liquidity as needed and expects these plans will sufficiently improve the company’s liquidity needs”, without giving further...
...The company plans to invest ¥1.7tn in “growth areas” such as AI, electric vehicles and software....
...For Delta, the result is record first-quarter revenues and forecasts for another strong showing for the second quarter....
...Net profits for bank and broker Nomura surged almost 670 per cent from a year earlier in its latest quarter, as Tokyo stocks eclipsed their 1980s bubble-era high and Japanese companies raced to raise funds...
...Revolut is exploring plans to monetise customer data through sharing it with advertising partners, as the fintech seeks new sources of revenue while its application for a UK banking licence remains in limbo...
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