Robinhood Revenue Slumps 43%, Users Drop
Shares of the company have fallen 74% from its July IPO price as of market close on Thursday. Robinhood stock tumbled another 11% in after-hours trading after the company reported results.
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Recent Editions
Netflix Lays Off Staff of Tudum Marketing Site
The layoffs come just days after the company reported its first decline in subscribers in more than a decade.
NSA Picks AWS for $10 Billion Cloud Contract Despite Microsoft Protest
The National Security Agency has once again chosen AWS for a major cloud deal after initially doing so last July, in a major win for the cloud giant.
Snap Releases Pixy, a Companion Camera Drone for Snapchat Users
The drone, which retails for $229, is available in the U.S. and France.
Comcast’s Peacock Reports Solid Growth in Paid Subscribers
The company expects slower growth for the streaming service this quarter.
Twitter Blames Ukraine War For Revenue Growth Shortfall in Q1
Twitter’s daily active users rose 15.9% to 229 million compared to a year earlier, a slight uptick on the rate of user growth of the past few quarters.
Europe to Accuse Apple of Breaking Antitrust Laws With Apple Pay
Investigators have been looking into whether Apple Pay’s closed system using its NFC chip—which allows iPhone users to tap to pay—has frozen out rivals.
Investment into China Tech Drops Dramatically
Quarterly investment in China tech collapsed to just $3.51 billion versus $15 billion , according to a Chinese government affiliated think tank.
SoftBank, Arm Take Steps to Regain Control of Arm’s China Business
SoftBank and Arm are trying to push out Arm China CEO who has refused to leave even after the Chinese joint venture's board decided to fire him in 2020.
Cathie Wood and Mike Novogratz Tout Fidelity and Foresee SEC Approvals
The two executives of asset management companies said that other brokerages are likely to follow Fidelity's 401(k) bitcoin decision.
Google Looks to Revamp DC Image
The search giant is reportedly using Microsoft as a new model for its lobbying efforts.
Pinterest Narrows Loss, Reports 18% Jump in Revenue
The digital scrapbooking service arrested the sequential decline in monthly users that it saw throughout most of 2021.
Meta Platforms Reports Slowing Revenue Growth in Q1
The company’s stock jumped more than 17% in after-hours trading.
Sales Chief Enslin Departing in Google Cloud Executive Shakeup
Enslin, who spent 27 years at SAP before joining Google Cloud three years ago, is leaving to become co-CEO at automation software firm UiPath.
TikTok Experimenting With New Content Controls
The platform is trying to balance helping users discover new content without overloading them with negative or harmful content
Spotify’s Q1 Results Show Neil Young Boycott Had No Impact
The relatively healthy revenue and subscriber numbers suggested that Neil Young’s decision to pull his music off Spotify had little impact either on users or on ad revenue.
Chinese Drone Maker DJI Pulls Out of Russia
The company pulled out of the Ukraine as well. Other big Chinese tech companies continue to do business in Russia.
Led by Azure, Microsoft’s Cloud Sales Remain Steady in Q3
Microsoft's cloud business continued to perform well in its March quarter despite the uncertain economic outlook, with Azure leading the way.
Musk Has to Pay $1 Billion to Twitter if Deal Falls Apart
The terms of the breakup fee include if Musk's financing falls through.
Weekday mornings
The Information AM by The Information Staff
Start your morning with the important global tech news of the day, covered by The Information team across five time zones.
By providing your email, you agree to The Information’s Privacy Policy