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Paramount Global Reports Quarterly Revenue of $7.64 Billion, Below Wall Street Estimates

Despite missing Wall Street predictions on revenue, Paramount Global shocked investors with a 4cent profit per share, exceeding expectations of a 1cen

Despite missing Wall Street predictions on revenue, Paramount Global shocked investors with a 4cent profit per share, exceeding expectations of a 1cent loss. The company reported quarterly revenue of $7.64 billion. CEO Bob Bakish expressed optimism that Paramount+ will turn a profit domestically by 2025. Surpassing forecasts, Paramount+ attracted 4.1 million new members in the quarter, demonstrating the increasing appeal of the streaming service. The business anticipates "low to midteens advertising growth" in the first quarter, exhibiting signs of stabilisation despite difficulties in the advertising industry. The findings coincide with discussions about industry consolidation, as the CEO of Skydance Media is considering a bid to buy National Amusements, Paramount Globals parent company. Although its TV media business has seen a dip in income, Paramount Global is nevertheless optimistic about the development prospects of its streaming operation. Read More..

B2B Tech News | 1 months ago        

C3.ai Surges Over 14% in Extended Trading on BetterThanExpected Quarterly Results

Following the release of betterthanexpected quarterly earnings, C3.ais shares rose more than 14% during extended trading. Additionally, the business s

Following the release of betterthanexpected quarterly earnings, C3.ais shares rose more than 14% during extended trading. Additionally, the business said that Hitesh Lath will take over as CFO on March 1st, succeeding Juho Parkkinen, who will become vice president of finance. Surpassing analyst projections, C3.ai reduced its fullyear sales prediction range to $306 million to $310 million. The need for businesses like C3.ai has increased due to the need for generative artificial intelligence solutions to improve operational efficiency. Additionally, for businesses to remain competitive, introducing AI technologies like OpenAIs ChatGPT has forced them to do so. For the fourth quarter, C3.ai expects revenue between $82 million and $86 million, with total revenue for the third quarter surpassing estimates at $78.4 million. Subscription revenue for the quarter also exceeded expectations at $70.4 million. On an adjusted basis, the company posted a minor net loss of 13 cents per share compare Read More..

B2B Tech News | 1 months ago        

HP Incs FirstQuarter Revenue Falls Short, Reflecting Sluggish PC Market

For the seventh consecutive quarter, HP Inc.s revenue fell short of Wall Street projections in the first quarter. This decrease was caused mainly by c

For the seventh consecutive quarter, HP Inc.s revenue fell short of Wall Street projections in the first quarter. This decrease was caused mainly by clients delaying system upgrades and the slow demand in the personal computer PC industry. After the declaration, HPs stock dropped more than 3% in afterhours trade. The business observed that the current economic uncertainty is causing enterprise clients to be frugal with their budgets, affecting the demand for personal computers. Revenue growth slowed as the spike in demand for PCs and other devices connected to remote work subsided in 2022. From November to January, HPs sales decreased by around 4.4% to $13.19 billion, falling short of average analyst projections. At 81 cents, adjusted profits per share were in line with forecasts. HP forecasted secondquarter adjusted profit per share in line with estimates amidst a 4% decline in sales in its Personal Systems segment and a 5% decline in its Printing segment. Read More..

B2B Tech News | 1 months ago        

Reliance Industries and Walt Disney Announce Merger of TV and Streaming Assets in India

Reliance Industries of India and Walt Disney announced the combination of their streaming and TV media businesses, creating a $8.5 billion entertainme

Reliance Industries of India and Walt Disney announced the combination of their streaming and TV media businesses, creating a $8.5 billion entertainment behemoth in the country of a billion people. Disney holds the remaining shares in the combined company, with Reliance contributing $1.4 billion and controlling over 63%. This action tackles Disneys difficulties in the Indian streaming market and the financial burden of paying cricket rights. The combined company will be impressive with two streaming services, 120 TV stations, and cricket rights. Disney gets financial security, and Reliance gains leverage in marketing negotiations. The transaction strengthens Reliances standing in Indias $28 billion media industry. Nita Ambani will chair the board, with Uday Shankar as vice chair. The merger aligns with Disneys commitment to India despite past challenges, including a noncash impairment charge due to subscriber losses. Read More..

B2B Tech News | 1 months ago        

Toyota Reports 7% Increase in Global Vehicle Production in January

Toyota Motor announced a 7% increase in worldwide car production in January, bringing the total to 740,332 units produced yearly for the 13th time. Th

Toyota Motor announced a 7% increase in worldwide car production in January, bringing the total to 740,332 units produced yearly for the 13th time. The spike was driven by strong U.S. demand, resulting in a 23% increase in U.S. sales and a 2% increase in European sales. On the other hand, domestic sales in Japan dropped sharply by 14%. Even though sales in China increased by 39%, the Chinese New Year calendar adjustments contributed to this, and the Chinese market became more competitive. Notably, gasolineelectric hybrids accounted for roughly twofifths of Toyotas January sales, demonstrating the automakers dedication to environmentally friendly car alternatives. Read More..

B2B Tech News | 1 months ago        

OCBC Expects Decline in 2024 Net Interest Margin Amidst Weakened Insurance Income

After reporting a 12% net profit jump in the fourth quarter, Singapores OverseaChinese Banking Corp OCBC predicts a reduction in 2024s Net Interest Ma

After reporting a 12% net profit jump in the fourth quarter, Singapores OverseaChinese Banking Corp OCBC predicts a reduction in 2024s Net Interest Margin NIM due to weaker insurance income. Concerns about a global downturn have CEO Helen Wong predicted a problematic 2024 and aimed for an NIM range of 2.20% to 2.25%, down from 2.28% in 2023. While low singledigit loan growth is anticipated, Return on Equity ROE is predicted to be between 13% and 14%. 20 to 25 basis points will be the expected cost of credit, up from 20 bps in 2023. Despite a jump in fourthquarter net profit to S$1.62 billion, OCBCs shares fell 2.5% following the earnings release. Read More..

B2B Tech News | 1 months ago        

Global Firms Expanding Presence in India, Setting Up More Offices and GCCs

At a Nasscom event, executives stressed that the increasing number of international businesses opening Global Competence Centres GCCs, or offices, in

At a Nasscom event, executives stressed that the increasing number of international businesses opening Global Competence Centres GCCs, or offices, in India did not indicate the demise of outsourcingdependent Indian IT enterprises. With 118 new GCCs in the last two years, for a total of over 1,620, prominent figures in the sector, like Ananth Chandramouli of Capgemini and Satish HC of Infosys, emphasised the potential for cooperation. Chandramouli observed that the GCCs were becoming revenue centres. At the same time, Satish HC emphasised Infosys flexible strategy regardless of the clients choice between expanding captives or entering into BOT agreements. Attendees such as Anuj Kadyan of McKinsey and Sindhu Gangadharan of SAP Labs India argued that both models could survive despite worries about the possible impact on income. They cited the large amount of tech investment that GCCs and IT players had access to. Read More..

B2B Tech News | 1 months ago        

Glean Raises $200 Million in Funding, Valuation Jumps to $2.2 Billion.

With the completion of its most recent investment round, Glean, an AIdriven firm that helps businesses with knowledge base searches, has raised its va

With the completion of its most recent investment round, Glean, an AIdriven firm that helps businesses with knowledge base searches, has raised its valuation to $2.2 billion. The investment, coled by Lightspeed Venture Partners and Kleiner Perkins, demonstrates the strong investor interest in AIpowered solutions. CEO Arvind Jain wants to grow the workforce to include 700 people this year. Glean, founded in 2019 by former Google search engineers, integrates databases and applications to provide search and knowledge management solutions for businesses. Glean creates individualised summaries and responses based on internal knowledge graphs by leveraging conversational AI assistants and big language models, such as OpenAIs GPT. Gleans expansion highlights its marketability with clients like Sony Electronics and Databricks and doubled yearly recurring income. Read More..

B2B Tech News | 1 months ago        



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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