Snap reported its first ever quarterly net profit on Thursday and a jump in users, sending shares 60% higher in after-hours trading. The photo-messaging app reported $1.3 billion in revenue for the three months ended in December, a 42% increase from the same period the previous year, exceeding Wall Street brokerage forecasts. It swung to a profit of $23 million from a loss of $113 million in...
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SEC Probes Whether SoftBank-Backed Messaging App Misled Investors
The Securities and Exchange Commission has been investigating whether SoftBank-backed messaging app IRL violated securities laws, including in the way the startup described its business performance during talks with investors, according to people with knowledge of the situation. The SEC investigation began after The Information reported in May that some IRL employees had expressed concern to...
Amazon Adds Four Executives to CEO Andy Jassy’s S-Team
Plaid Cuts 20% of Staff After Growth Falls Short
U.S. National Security Deal on TikTok Held Up on Security Concerns
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