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Posts Tagged ‘earnings’

Stocks are selling off again, and SaaS shares are taking the biggest lumps

It was just days ago that cries of “stocks only go up,” and “no it makes sense that Tesla is going up because it split” and other bits of unironic stupidity were the only thing you could read online about the equities markets. Today, and yesterday, that all went to ****. Stocks, it turns out, can ...

SaaS stocks survive earnings, keeping the market warm for software startups, exits

We’re on the other end of nearly every single SaaS earnings report that you can name, with the exception of Slack, and shares of software companies are holding onto their year’s gains. Which means SaaS and cloud companies have made it through a somewhat steep gauntlet largely unscathed. There were exceptions, of course, but when ...

Box benefits from digital transformation as it raises its growth forecast

Box has always been a bit of an enigma for Wall Street and perhaps for enterprise software in general. Unlike vendors who shifted tools like HR, CRM or ERP to the cloud, Box has been building a way to manage content in the cloud. It’s been a little harder to understand than these other enterprise ...

Apple reaches $2 trillion market cap

The broader market melt up has helped buoy shares of Apple to new highs this morning. In early trading today, the market capitalization of the tech industry giant and FAAMG member crossed the $2 trillion mark before slipping just beneath the threshold. Shares of Apple have advanced just over 59% in 2020, despite the company’s ...

Lyft shares get small bump after reporting 61% Q2 revenue decline

Today after the bell, Lyft reported its second-quarter financial performance. The American ride-hailing company’s results helped illustrate just how much the economy has changed in the wake of COVID-19 and its resulting disruptions to life, travel and work. Uber’s own results, which were shared last week, provided hints of what was coming for Lyft. The ...

Stocks partially reverse last week’s slide in early-morning trading

Both the Dow Jones Industrial Average and the Nasdaq have reversed course after a week of losses. The Dow was up 570.50 points to 25,979.86 and the Nasdaq was up 112.96 to 8680.33 near midday trading. The two major bellwethers of investor sentiment had a rough week last week as the spread of the novel ...

Alibaba Cloud revenue reaches $1.5B for the quarter on 62% growth rate

Alibaba issued its latest earnings report yesterday, and as part of that the Chinese eCommerce giant reported that cloud revenue grew 62% to $1.5 billion U.S., crossing the RMB10 billion revenue threshold for the first time. Alibaba also announced that it had completed its migration to its own public cloud in the most recent quarter, ...

Daily Crunch: Facebook’s profits disappoint

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here. 1. Facebook hits 2.5B users in Q4 but shares sink from slow profits In its latest quarterly earnings report, Facebook said it ...

Apple to start online sales in India in Q3 this year

Apple’s much-awaited online store in India will be operational starting Q3 this year, a little longer than previously expected, a source familiar with the matter told TechCrunch. The iPhone-maker said in August last year that it was “eager to serve [customers of India] online and in-store with the same experience and care that Apple customers ...

Apple reports a record $12.7B in services revenue

Apple’s increasing focus on its services business seems to be paying off, with the company reporting a record $12.7 billion in services net sales during the first quarter of its fiscal year — a year-over-year increase of roughly 17%. Services includes existing offerings like iCloud and Apple Music, as well as a number of new ...