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DBS Group DBSM.SI Beats Expectations with 2% Increase in Q4 Net Profit

The biggest bank in Singapore, DBS Group DBSM.SI, announced a 2% rise in net profit for the fourth quarter, exceeding forecasts and keeping projection

The biggest bank in Singapore, DBS Group DBSM.SI, announced a 2% rise in net profit for the fourth quarter, exceeding forecasts and keeping projections for net interest income at levels similar to last year. Notwithstanding expected declines in interest rates and global unrest, CEO Piyush Gupta voiced confidence in maintaining performance. By 2024, the bank hopes to achieve doubledigit growth in fee income and a return on equity ROE of 15% to 17%. DBS expects more robust earnings due to higher interest rates, even if the fullyear Net Interest Margin NIM is forecast to be slightly below the fourth quarters 2.13%. However, growth may decelerate amid central bank rate reduction and market volatility. The bank suggested a 1for10 bonus issue and a final dividend of 54 cents per share. Read More..

B2B Tech News | 18 days ago          

Fortinet Surges 10.4% in Extended Trading After Beating Q4 Profit Expectations

Fortinets fourthquarter profit surpassed analyst estimates, primarily due to rising business cybersecurity investment in the face of growing cyber thr

Fortinets fourthquarter profit surpassed analyst estimates, primarily due to rising business cybersecurity investment in the face of growing cyber threats. Following the news, the companys shares increased 10.4% in extended trade. While Fortinet was smaller than industry titans like Palo Alto, its diverse portfolio drew a sizable clientele. Compared to LSEG forecasts of 43 cents per share, adjusted earnings were 51 cents per share. Benefits for the quarter included delayed income from agreements that closed during the quarter and a moderate seasonal budget flush. Six agreements totalling more than $10 million were closed, according to CFO Keith Jensen. Revenue for the first quarter of 2024 is expected to range from $1.30 billion to $1.36 billion, slightly less than experts had predicted. Nevertheless, fourthquarter sales exceeded analysts average expectation of $1.41 billion, reaching $1.42 billion. Read More..

B2B Tech News | 18 days ago          

Spotify Surpasses Expectations Shares Jump 8% on Strong Q4 Performance

With an 8% share growth, Spotify reported monthly active users and subscribers in the fourth quarter, which exceeded expectations. Beyond projections,

With an 8% share growth, Spotify reported monthly active users and subscribers in the fourth quarter, which exceeded expectations. Beyond projections, there were 236 million premium members and 602 million monthly active users. Sales for the first quarter were predicted to be lower. CEO Daniel Ek stressed the need to use tactics like price rises to boost revenue. With new hires like Joe Rogan, Spotifys podcast division has experienced doubledigit growth and plans to turn a profit by 2024. Although 239 million paid users are expected in the coming quarter, firstquarter expectations for overall users and revenue still need to be met. Operating income is anticipated to be 180 million euros, as opposed to a 75 million euro loss in the fourth quarter. Read More..

B2B Tech News | 18 days ago          

Snap Shares Plunge 30% as Quarterly Revenue Falls Short

Snaps quarterly revenue fell short of expectations, disappointing Wall Street and causing a 30% decline in the companys shares. Snap finds it difficul

Snaps quarterly revenue fell short of expectations, disappointing Wall Street and causing a 30% decline in the companys shares. Snap finds it difficult to compete with industry titans in digital advertising like Meta Platforms and Alphabet, even with its cuttingedge features. Snap has challenges in capitalizing on the robust ad industry, as seen by the 25% increase in Metas ad revenue and the 11% growth in Googles. CEO of Snap, Evan Spiegel, is upbeat about the companys prospects for expansion and has emphasized a change in strategy to better serve advertisers that prioritize website traffic and sales. Ten percent of the companys employees will be let go to fund expansion ambitions. Even though Snaps user base increased to 414 million daily active users—mostly from outside of North America and Europe—its firstquarter revenue projection was below analyst projections. In aftermarket trade, shares fell 33%. Read More..

B2B Tech News | 18 days ago          

Meta Platforms Unveils Plan to Label AIGenerated Content on Social Media

To notify consumers of their digital origin, Meta Platforms revealed plans to identify photographs created by outside AI services on its platforms, in

To notify consumers of their digital origin, Meta Platforms revealed plans to identify photographs created by outside AI services on its platforms, including Facebook and Instagram. According to Nick Clegg, president of global affairs, the business will apply the labels using invisible markings contained in files, expanding the technique beyond its AIgenerated material. This action tackles worries about the possible dissemination of false or misleading information. While the Meta oversight board recently criticised the companys policy on doctored videos and argued that labelling should take precedence over removal, Clegg agreed and pointed out that the new labelling initiative demonstrates the companys commitment to addressing the challenges posed by synthetic content. Read More..

B2B Tech News | 18 days ago          

Verizon Data Breach Exposes Sensitive Information of Over 63,000 Employees

Verizon Communications revealed that 63,206 workers personal information had been exposed in an insider data breach that affected nearly half of the c

Verizon Communications revealed that 63,206 workers personal information had been exposed in an insider data breach that affected nearly half of the company. The breach was found on December 12, 2023. It involved a Verizon employee who had gained unauthorised access to a file containing employee data on September 21, 2023. The leaked data include names, addresses, Social Security numbers, and compensation information. Nevertheless, customer data is untouched. Verizon is strengthening its internal security protocols and providing affected workers with two years of credit monitoring and identity theft protection. Since law enforcement has not been notified of the occurrence, there is no indication of evil intent, even without proof of abuse or external dissemination. Verizon has just seen a significant hack since 2022, now. Read More..

B2B Tech News | 18 days ago          

LinkedIn Unveils AIPowered Messaging Feature to Simplify Networking

LinkedIn is introducing a new AIpowered function that generates userfirst messages based on their profiles, streamlining user interactions. The functi

LinkedIn is introducing a new AIpowered function that generates userfirst messages based on their profiles, streamlining user interactions. The function, which is only accessible to LinkedIn Premium users, makes it easier to initiate a conversation—especially with someone you dont know well. Naman Goel, Senior Director of Product at LinkedIn, claims that the functionality solves the intimidating "blank page problem" users frequently encounter when networking. LinkedIn is also launching a "Catch Up" option to promote milestones like job transitions and work anniversaries to encourage participation. Through platformgenerated personalised prompts, this upgrade seeks to encourage users to get back in touch with their relationships. To improve user experience, LinkedIn is also moving necessary functionality like connection requests and recommendations. Read More..

B2B Tech News | 18 days ago          

EU to Criminalize AIGenerated Imagery and Deepfakes of Child Sexual Abuse

The European Commission has proposed a new crime of livestreaming child sexual assault and revealed intentions to make AIgenerated pictures and deepfa

The European Commission has proposed a new crime of livestreaming child sexual assault and revealed intentions to make AIgenerated pictures and deepfakes portraying CSA illegal. To address technological improvements since 2011, the update also intends to criminalise the sharing and possession of "paedophile manuals." Together with raising awareness of online dangers and providing support to victims, these steps are a component of more extensive initiatives to combat cyberbullying. The Commissions prior proposal to require CSAM scanning on digital platforms was controversial. Still, lawmakers are reviewing regulations regarding the growing problem of deepfakes and improper use of artificial intelligence. Negotiations between EU colegislators are now underway, with the idea perhaps adopted before future elections and commissioner changes. Read More..

B2B Tech News | 18 days ago          



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