Alphabet went into its earnings report on Thursday facing concerns about the growth of its core Google ads business and the company’s ability to generate profits from its hefty investments in artificial intelligence. For the time being at least, the company put Wall Street’s fears to rest. Alphabet topped analysts’ estimates, reporting revenue growth of 15% […]
DEROIT — Honda Motor and yet-to-be-named joint venture partners plan to invest $11 billion in Ontario, Canada, to create a “comprehensive EV value chain,” the Japanese automaker announced Thursday. The company said the new North American electric vehicle epicenter will include new assembly and battery plants as well as other facilities to support production of all-electric and fuel […]
This earnings season has been closely scrutinized due to concerns about a slower-than-expected economic recovery. Despite interest rates surpassing 7%, consumers seem inclined to continue traveling and making big-ticket item purchases. That was the key takeaway from Visa’s Q2 earnings report. The company posted a net revenue of $8.8 billion, marking a 10% year-over-year increase. This revenue […]
Real-time money movement (RTMM) is gaining traction worldwide. Although real-time payments only account for only a 1.2% share of the total payments volume in the US in 2022, transactions are expected to grow 364% by 20261. As more businesses and consumers expect faster, more efficient payments, this trend will only grow, with McKinsey predicting that […]
Since Elon Musk announced X’s intention to become a payments platform, the company has made significant strides. The social media platform secured licenses to transmit money in 25 states and has licenses pending approval in several others. Initial expectations for the platform are that X users will be able to tip each other and send […]
Walmart has introduced buy now, pay later loans through One, its majority-owned fintech startup. The move puts Walmart in competition with a similar offering from Affirm. Last year, Walmart announced its plan to offer BNPL services for self-checkout customers through Affirm at 4,500 of its U.S. stores. Since 2019, Affirm has been the exclusive provider of installment loans […]
Mark Zuckerberg started Meta’s earnings call by talking about artificial intelligence. Then he moved onto the metaverse, touting his company’s headsets, glasses and operating system. He spent almost the entirety of his opening remarks focused on the many ways Meta loses money. Investors weren’t into it. Meta shares tumbled as much as 19% in extended trading on […]
Ford (F) reported first quarter results after the bell that beat expectations on Wednesday, with its changing product game plan front and center along with its focus on gas and hybrid offerings. Ford also boosted some guidance metrics but not its full-year profit outlook. For the quarter, Ford reported revenue of $42.8 billion, beating estimates […]
Tesla reported a 9% drop in first-quarter revenue on Tuesday, the biggest decline since 2012, and missed analysts’ estimates, as the electric vehicle company weathers the effect of ongoing price cuts. The stock jumped in extended trading after CEO Elon Musk told investors that production of new affordable EV models could begin sooner than expected. Here’s what […]
Music streaming giant Spotify has announced record profits of over €1bn (£860m) after a year of cutting costs and laying off staff. The Swedish company has been growing its user base for years, offering subscribers access to podcasts and audiobooks. But its quarterly gross profit came at the expense of missing its forecast for monthly […]
Should buy now, pay later loans impact your credit score? That’s been an important question ever since Apple announced in February that it would begin reporting loans from its Apple Pay Later service to Experian. Many observers thought that might be a game-changer for the BNPL industry. However, as the New York Times is reporting, there hasn’t […]
Walmart’s majority-owned fintech startup One has begun offering buy now, pay later loans for big-ticket items at some of the retailer’s more than 4,600 U.S. stores, CNBC has learned. The move puts One in direct competition with Affirm, the BNPL leader and exclusive provider of installment loans for Walmart customers since 2019. It’s a relationship that the Bentonville, Arkansas, retailer expanded recently, […]
