Block, the payments processing company formerly known as Square, said revenues fell compared to one year ago, as consumer demand for bitcoin transactions ebbed. The company posted a net loss for the quarter and had negative cash flow from operations. The stock fell 7% after hours. Revenues fell 5.9% year over year to $4.4 billion, driven by a decline in bitcoin revenues, which fell 34%. Last...
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Meta’s Resistance to Sharing Ad Sales Starts to Crumble
For at least a year, one question has hung over Meta Platforms-owned Facebook and Instagram: whether the apps will introduce a way to share a cut of ad revenues with more creators, similar to how YouTube pays video-makers. Our story today by Sylvia and Kaya goes deep into the debate at Meta over introducing ad-revenue sharing, which some staff viewed as a slippery slope, and a parallel argument...
Intel Cuts Salaries Amid Grim Outlook
AMD Forecasts Sales Slowdown Due to Weak PC Demand
Snap Warns Revenue Could Fall 10% This Quarter
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Meta Insiders Debate Key Issue for Reels: Whether to Share Ad Dollars With Creators