All posts tagged "Earnings"

San Francisco (AFP) - Netflix on Tuesday said that its number of subscribers hit a record high 232.5 million in the first quarter of the year and that its nascent ad-supported tier was faring well. The streaming television giant reported a quarterly profit of $1.3 billion, in line with expectations, but said it had delayed a broad crackdown on sharing of account passwords "to improve the experience for members." Netflix said it expects to begin rolling out its options for paid password sharing this quarter instead. "It's clear that the company wants to manage any fallout from the new strategy,......

New York (AFP) - Major US banks reported mixed fourth-quarter results Friday as executives pointed to the rising odds of a "mild recession," with inflation and interest rate hikes challenging households and businesses. The biggest US bank, JPMorgan Chase, set aside $1.4 billion in fresh reserves in case of loan defaults, noting that its "central" scenario is "a mild recession" with somewhat higher unemployment. Bank of America accounted for $403 million in possible bad loans as Chief Executive Brian Moynihan alluded to an "increasingly slowing economic environment," while Citigroup reserved $6......

San Francisco (AFP) - US tech titans looking to the future are seeing growth take a beating in the face of foreign competition and a tough economy. Apple and Amazon shares were casualties on Thursday, and their respective quarterly earnings reports disappointed investors hoping for rays of sunshine on a dark economic landscape. Meanwhile, shares of Meta and Google-parent Alphabet have tanked after disappointing financial results this week. "This week will go down in the history books of earnings season as one of Big Tech's worst and ultimately could be a 'fork in the road moment' for the stalw......